Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) (“Equitorial” or “Company”) announces that it will carry out a fall field program in the next weeks to map and sample the area surrounding the recently discovered Cat Tail Pegmatite at its 100%-owned Cat Tail Lithium Property directly adjacent to Quantum Minerals’ Cat Lake Mineral Project.
Highlights of Results to Date
– 1,256 meters completed in the Phase One diamond drill hole program
– Seven drill holes drilled
ooSix drill holes testing the lithium and pegmatite potential of the property
ooSeventh drill hole testing a sulphide rich skarn
– A significant spodumene (lithium mineral) bearing pegmatite (Cat Tail Pegmatite) was encountered in four of the drill holes. Prior to being drilled, this pegmatite was buried with no surface expression.
2018 Fall Field Program
The 2018 fall field program will consist of mapping outcrops on the claims, rock and biogeochemical sampling. This work will focus on obtaining a better geological understanding of the property and prospect for any additional pegmatites. A biogeochemical orientation survey of spruce bark sampling will be conducted over the Cat Tail Pegmatite to see if the pegmatite can be detected using biogeochemistry.
The company plans to carry out a Phase Two drill hole program on the Cat Tail Pegmatite to further explore the lithium and tantalum potential at depth and along strike. A drill work permit has been applied for with the Province of Manitoba and the company is awaiting approval. The company plans to initiate a PEA (Preliminary Economic Assessment) Study after the completion of the Phase Two drilling to evaluate the economic viability of the Cat Tail Pegmatite.
Carey Galeschuk. P. Geo, a consulting geologist with extensive experience in rare metal and lithium-bearing pegmatites serves as the company’s Qualified Person for the purpose of National Instrument 43-101.
Cat Lake Lithium Property Highlights
– Property situated directly east and along strike of Quantum Minerals’ Cat Lake Mineral Project (previously Irgon Lithium Mine). During 1956-1957, the Irgon Mine was an underground mining operation for spodumene (one of the hard rock sources for Li). The pegmatite had an historic estimate of 1.25 million tons of ore grading 1.51% Li20 (Mineral Inventory File No. 221).
– The Equitorial Exploration claim block is located 150 m from south end of Irgon Lithium Mine shaft and approximately 93 meter east of the last exposed outcrop of the Irgon Pegmatite
– 48 feet (14.63 m) of spodumene bearing pegmatite were reported drilled in 1948 on the company’s present claims but not followed up at the time (Manitoba Assessment File 98073 – not 43-101 compliant)
– Property approximately 180 km northeast of Winnipeg, Manitoba
– Excellent infrastructure – Provincial Highway 314 in southeast Manitoba cuts through the property
Please click for maps of the claims: http://equitorialexploration.com/wp-content/uploads/2018/01/Cat-Lake-Claims-Maps-3.pdf
Geologically, the property lies within the east-trending Mayville-Cat-Euclid Greenstone Belt (“MCEGB”) located along the northern contact of the Maskwa Lake Batholith. This northern greenstone belt has a similar structural geological setting as the Bird River Greenstone Belt (“BRGB”) which is located along the southern contact of the same batholith, and is parallel to and approximately 18km to the south of the MCEGB. The property is located 20 kilometers north of the Tanco Mine Property. The BRGB hosts the world-class Tanco rare metal-bearing pegmatite as well as numerous other lithium-bearing pegmatites. The Tanco Mine went into production in 1969 and produced tantalum, cesium and spodumene (lithium). It was previously North America’s largest and sole producer of spodumene (Li), tantalum (Ta) and pollucite (Cs).
About Equitorial Exploration Corp
Equitorial is aggressively developing four 100%-owned, high-potential, lithium projects in North America. The Little Nahanni Pegmatite Group (LNPG) is a 43-101 compliant, hard rock, lithium property in the NWT. The Cat Lake Lithium Property in Manitoba, Canada, is directly adjacent to the Cat Lake Mineral Project, a highly prospective Lithium property. The Tule and Gerlach Lithium Brine Projects are located in lithium-rich Utah and Nevada within easy reach of the Tesla Gigafactory #1. All four projects have demonstrated highly encouraging grades.
For more information please visit: http://equitorialexploration.com/
On behalf of the Board of Directors
EQUITORIAL EXPLORATION CORP.
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Cat Lake, Tule, Gerlach and Little Nahanni Pegmatite Projects: statements pertaining to the ability of Equitorial Exploration Corp.(“EXX”); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for EXX to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by EXX in light of its experience and perception of current and expected future developments, as well as other factors that EXX believes are appropriate in the circumstances. Many factors could cause EXX’s results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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