VANCOUVER, British Columbia, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Goat Industries Ltd. (the “Company” or “GOAT”) (CSE: GOAT), is pleased to announce that it has acquired, through staking, fifteen additional claims (the “Additional Claims”) in three clusters of historic lithium occurrences in Quebec.
Six of the fifteen claims (the “James Bay Claims”) are located south of Patriot Battery Metals Inc.’s (“Patriot”) Corvette Lithium Project, in James Bay, Quebec. The James Bay Claims contain six historic lithium occurrences south of Patriot’s claims, reported as:
- 75 parts per million (“ppm”) lithium as reported on eSigeom Quebec website in Unique sample number : 1997015878;, and 63 ppm lithium as reported on eSigeom Quebec website in Unique sample number : 1997015877
- 70 ppm lithium as reported on eSigeom Quebec website Unique sample number : 1997016003;
- 63 ppm lithium as reported on eSigeom Quebec website in Unique sample number : 1997015952;
- 39 ppm lithium as reported on eSigeom Quebec website in Unique sample number : 1997015874;
- 36 ppm lithium as reported on eSigeom Quebec website in Unique sample number : 1997015993; and
- 31 ppm lithium as reported on eSigeom Quebec website in Unique sample number : 1997016004.
The rock types reported at these historic occurrences are tonalite, paragneiss, granodiorite, diorite, silexite.
Eight of the fifteen claims are located in Northeastern Quebec, approximately 60 km northeast of Kangiqsualujjuaq (the “Kangiqsualujjuaq Claims”). The Kangiqsualujjuaq Claims contain four historic pegmatite hosted lithium occurrences. These listed lithium occurrences list the rock type as uncertain. the values and references are reported as:
- 162 ppm lithium as reported on eSigeom Quebec website Unique sample number : 1906030738;
- 240 ppm lithium as reported on eSigeom Quebec website Unique sample number : 1906030812;
- 359 ppm lithium as reported on eSigeom Quebec website Unique sample number : 1906030730;
- 300 ppm lithium as reported on eSigeom Quebec website Unique sample number : 1906030731;
- 259 ppm lithium as reported on eSigeom Quebec website Unique sample number : 1906030813; and
- 81.9 ppm lithium as reported on eSigeom Quebec website Unique sample number : 1906030733.
The above listed historic samples located on the Kangiqsualujjuaq Claims are the only reported samples from an elongate zone that trends seven kilometers from the 162 ppm lithium sample in the northwest to the to 81.9 ppm lithium sample in the southeast. The distance from the 162 ppm lithium sample to the 259 ppm lithium sample is approximately five kilometres. All samples within the Kangiqsualujjuaq Claims contain Lithium values, with Unique sample number : 1906030813 with 259 ppm lithium, assaying alsoed 0.11% cerium, and 644 ppm lanthanum.
Approximately ten kilometers to the west of the seven kilometer elongate zone, another four (4) lithium occurrences, all within pegmatites, were also staked. Historic values reported are 51.3 ppm lithium as reported on eSigeom Quebec online website in Unique sample number : 1906029993, 56.2 ppm lithium as reported on eSigeom Quebec online website in Unique sample number : 1906029995, 51.4 ppm lithium as reported on eSigeom Quebec online website in Unique sample number : 1906029980, and 80.1 ppm lithium as reported on eSigeom Quebec online website in Unique sample number : 1906029984
The remaining claim is situated in Southern Quebec, approximately 80 km north of Bangor Maine, USA, and approximately 20 km from the Quebec-USA border (the “Southern Claim”). The Southern Claim contains twenty-seven separate historic occurrences of lithium-rich samples reported over a distance of ten km, with lithium values ranging from 30 ppm lithium as reported on the eSigeom Quebec website in Unique sample number : 1985010987 to a high of 121 ppm lithium as reported on eSigeom Quebec website in Unique sample number : 1985011016, with all historic samples reported from granite samples. Within this ten kilometer long by upto four km wide area covered by online staked cells, are a total of 39 sample locations, with the 27 sample locations returning the lithium values. The 39 samples Unique sample range is from Unique sample number : 1985010977 to Unique sample number : 1985011016 . The southernmost sample location reported 31 ppm lithium as reported on eSigeom Quebec online website Unique sample number : 1985010997, and the northernmost sample reported 45 ppm lithium as reported on eSigeom Quebec online website in Unique sample number : 1985010993. Sampling and results are from 1985.
Readers are cautioned that the presence of mineralization on claims adjacent to those held by the Company is not necessarily indicative of mineralization that may exist on claims held by the Company.
Dr. Stewart A. Jackson, PGeo, is the Company's independent qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and has reviewed and approved the scientific and technical content of this news release.
ABOUT GOAT INDUSTRIES
GOAT Industries is an investment issuer focused on investing in high-potential companies operating across a variety of sectors. The paramount goal of the Company will be to generate maximum returns from its investments.
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING “FORWARD-LOOKING” INFORMATION
This news release contains certain forward-looking statements within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. The Company has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. All such forward-looking statements involve substantial known and unknown risks and uncertainties certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the COVID-19 pandemic; a rising interest rate environment, adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect and the actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
CONTACT INFORMATION
GOAT Industries Ltd.
Investor Relations
Email: alex@goatindustries.co
Phone: 604-687-2038
