VANCOUVER, British Columbia, June 01, 2023 (GLOBE NEWSWIRE) -- SPOD LITHIUM CORP. (“SPOD” or the “Company”) (CSE: SPOD) (OTCQB: SPODF) is pleased to announce its further exploration plan for the Company’s Megali and Lithium Grande 4 properties in the James Bay region in the province of Quebec. Both the Megali and Lithium Grande 4 projects are adjacent to Patriot Battery Metals' project, and less than 2.7 km south-south-east (Megali) and less than 2.0 km south (Lithium Grande 4) from Patriot's newly discovered Corvette lithium deposit. See Figure 1 below.
The Megali property consists of 78 mineral claims covering a total area of 3,996.67 hectares (40 square kilometers) and the Lithium Grande 4 project consists of 41 mining claims covering 2,100 hectares (21 square kilometers).
The Company has executed a technical services agreement with ALS GoldSpot Discoveries Ltd. ("GoldSpot") for the collection and processing of geophysical and geomatics data with Goldspot’s Multi-Parameter Airborne Survey System (“M-PASS”) over the Megali and Lithium Grande 4 properties. GoldSpot will conduct an airborne acquisition with their Multi-Parameter Airborne Survey System (‘M-PASS’) over SPOD’s properties. ALS GoldSpot’s M-PASS platform consists of a triaxial magnetic gradient magnetic/VLF platform, 2048 channel radiometric sensor along with a high-precision LiDAR sensor and high-resolution cameras capable of producing four band imagery. The airborne survey aims to map the geology and identify geological trends more likely to contain pegmatite swarms, which often correspond to specific topographic features with magnetic lows and will serve as a valuable guide for the Company’s further exploration campaign this upcoming summer.
Figure 1: SPOD Lithium Corp. / Patriot Batter Metals Land Position Map
Chris Cooper, Spod Lithium’s CEO commented, “It is very exciting to start-up our exploration activities on the Megali and Lithium Grande 4 projects. We are confident the mag and LiDAR survey will provide invaluable data that will enable phase 2 of our summer field exploration program to be a major success, and hopefully lead to the discovery of lithium bearing pegmatites.”
About ALS GOLDSPOT DISCOVERIES LTD.
ALS GoldSpot is a Canada-based group of expert geoscientists and data scientists who utilize computational methods (such as multivariate analysis or Machine Learning) to assist mining and exploration clients. ALS GoldSpot offers unique processes to minimize client risk related to exploration targeting by optimizing aspects of conventional exploration workflows.
ALS GoldSpot’s full-spectrum geoscience and data science technical team combines proprietary technology with in-depth expertise in mineral exploration and mining, offering front-to-back services to its clients and partners. ALS GoldSpot's solutions target large public database, like those made available by the government of Québec, with a focus on integrating underutilized data to better comprehend resource property potential.
For more information about Spod Lithium Corp., please visit our newly updated website at www.spodlithiumcorp.com.
Qualified person
Martin Demers P.Geo., (ogq #770) and qualified person as defined by National Instrument 43-101, has reviewed the technical information in this news release.
About Spod Lithium Corp.
Spod Lithium Corp. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals. The Company’s flagship assets are its Lithium properties located in the James Bay region of Quebec and the Nipigon and Niemi region of Ontario, Canada. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company through its website at www.spodlithiumcorp.com or by telephone at 604-721-3000.
On Behalf of the Board of Directors
Chris Cooper
Chief Executive Officer
Forward-Looking Information
Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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