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Brascan Gold Acquires Option Respecting Additional Land Package near Sigma Lithium in Brazil
Vancouver, British Columbia--(Newsfile Corp. - March 7, 2023) - Brascan Gold Inc. (CSE: BRAS) (the "Company") is pleased to announce it has entered into a secon
About this update from Westgold Metals Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 7, 2023) - Brascan Gold Inc. (CSE: BRAS) (the \"Company\") is pleased to announce it has entered into a second option agreement to acquire a 100% interest in a second lithium property (\"Property #2\") with BHBC Exploração Mineral Ltda. (\"BHBC\") and RTB Geologia E Mineração Ltda., both limited companies incorporated and existing under the laws of Brazil (together, the \"Optionor\"). Property #2 is a 2,963.7-hectare mineral claim package comprising 1.5 contiguous claim blocks in Brazil's Minas Gerais State, a mining-friendly jurisdiction located approximately 55 kms from Sigma Lithium's Grota do Cirilo property, the largest lithium hard rock deposit in the Americas. Brascan's Property #2 is located immediately west of the first property optioned from the Optionor in February 2023 and the two properties are separated by less than 500 m. Sigma Lithium is located in an emerging world class hard rock Lithium District in the State of Minas Gerais, Brazil. Lithium Ionic, CBL and Latin Resources are very active in exploration and discovery of new lithium deposits. Latin Resources (A$275M mkt), Sigma Lithium (C$4.1bn mkt) and Lithium Ionic (C$288M mkt) indicate the potential valuations possible for the two Brasil-Li properties upon exploration, discovery and development of a new lithium resource in the district. Claims map (below) of the Brasil-Li Lithium Property #2 in relation to CBL and SIGMA. Salinas Formation in blue, intruding granitoids in various shades of pink to red (After CPRM Geology Map, 2016). Figure 1: Claims Map Brascan notes that no Qualified Person working for Brascan has verified the reported occurrences on Sigma, CBL and the Ionic claims, and the information is not necessarily indicative of the mineralization on Property #2. Property #2 covers mapped metasediments of the Salinas Formation (unit 1), comprising mica-quartz and quartz-mica schists, as well as locally occurring meta conglomerates and micaceous quartzites (CPRM Geology map, 1:250:000 scale; 2016). This is the same unit of the Salinas Formation that has been mined by CBL for spodumene lithium for almost 30 years, and contains Sigma's Grota do Cirilo deposit. Brascan intends to start prospecting, sampling, detailed mapping and multispectral analysis of satellite data immediately to identify potential ex...