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Pegmatite One Discovers High-Grade Lithium Mineralization During Extended Exploration at Frazer Lake Mound Property
Vancouver, British Columbia--(Newsfile Corp. - August 2, 2023) - Pegmatite One Lithium and Gold Corp. (CSE: PGA) (formerly Madi Minerals Ltd.) ("Pegmatite One"
About this update from Pegmatite One Lithium And Gold Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - August 2, 2023) - Pegmatite One Lithium and Gold Corp. (CSE: PGA) (formerly Madi Minerals Ltd.) (\"Pegmatite One\" or the \"Company\") is pleased to announce a significant discovery of lithium mineralization during its exploration program at the Frazer Lake Mound Property in northwestern Ontario, Canada. Since early July, Pegmatite One's dedicated exploration crew has been diligently working at the property, carrying out comprehensive geological mapping, prospecting, and systematic sampling. Over 266 samples have been collected and sent to the laboratory for analysis. The results from the first batch of 10 samples have exceeded expectations, with lithium concentrations surpassing 10,000 parts per million (PPM) or 1% Li, marking a noteworthy find. These outstanding lithium results have prompted the Company to resubmit the samples to the lab for overlimit analysis to assess the full potential of this discovery. Figure 1: Typical mineralization on the property. Table 1: Lithium results received to date. SAMPLE Li (ppm) K043138 >10000 K043139 98.4 K043140 2290 K043141 542 K043142 100.5 K043374 >10000 K043379 >10000 K043380 >10000 K043381 >10000 K043382 >10000 Kelly Abbott, CEO of Pegmatite One, expressed his enthusiasm for the remarkable findings, stating, \"The discovery of high-grade lithium mineralization is a game-changer for our exploration efforts at Frazer Lake Mound Property. The initial results have exceeded our expectations, and we are excited to conduct further analysis to fully understand the extent and significance of this discovery.\" In light of these highly promising results, Pegmatite One has made the strategic decision to extend the summer field season for its exploration crew to continue prospecting and testing in the area. The Company is committed to maximizing its efforts in unlocking the full potential of the Frazer Lake Mound Property and further advancing the exploration of this promising prospect of spodumene-bearing pegmatite outcrops. Lithium's increasing demand, particularly as a crucial component in lithium-ion batteries, essential for electric vehicles and renewable energy storage, has further emphasized the significance of this discovery. Pegmatite One remains dedicated to conducting responsible and environmentally conscious exploration ...