VANCOUVER, BC / ACCESSWIRE / October 26, 2023 / Emergent Metals Corp. (“Emergent” or the “Company”) (TSXV:EMR) announces that it has staked 32 mineral claims, totalling 1,790 ha, west of and abutting its Casa South Property in Quebec. Together, with selected claims already controlled by the Company, a graphite exploration target is covered by approximately 75 mineral claims totaling 4,194 ha. The target, on the west side of the larger 13,194 ha Casa South Property, hosts a north-west-southeast trending structure approximately 8 km in length (true with unknown) and is associated in an iron formation structure identified by geophysics and historic Assessment Reports.
In the 1970’s and 80’s, exploration in the Casa Berardi area included drilling in iron formations by companies looking for gold and base metal deposits. The iron formation structure identified on the Casa South property was drilled with over a dozen historic drill holes, in various locations, spread along its northwest-southeast orientation. While assays were done for gold and other metals, no assays were done for graphite analysis. In reviewing the drill logs from this structure, significant graphite or graphitic zones are described and warrant further exploration.
For example, in Assessment Report GM43138 by MPH Consulting Limited, the log for drill hole FK-86-01 describes several zones of graphitic argillite/metasediment and tuff as outlined in Table 1 below. Table 1 includes the following significant intercepts related to graphitic areas:
Potential Graphitic Zones at Casa South Property, QC
|Depth Down Hole (m)*||Drill Log Description|
|184..0 to 194.7||Graphitic Argillite/Metasediment and Tuffs|
|184.0-184.4||admixed graphite and brecciated volcanics; bleached white with 5% pyrite.|
|187.9-191.7||graphite with 10-15% pyrite as beds and framboids, many framboids have cherty rims, bedding of pyrite 50-60 degrees TCA|
|191.7-193.3||massive graphite, few pyrite framboids and best|
|193.3-194.7||graphite with pyrite beds and framboids; at approximately 194.1 black argillite with 20-25% very fine grained pyrite disseminated throughout|
|207.1 to 217.0||Graphitic Argillite/Metasediment and Tuffs
|221.7-223.8||Graphitic Argillite/Metasediment and Tuffs
*True width unknown
Hole FK-86-01 was drilled by Philippon Drilling Inc. in February 1986. Core size was BQ. Location was L 308S and 3+25 South. Hole length was 240.5 m, drilled at a dip of -50 degrees, on bearing Grid E. Sampling was done for Cu, Zn, Pb, Au, and Ag. No assays were taken for graphite. The laboratory and QA/QC procedures are unknown. Sampling was done prior to the implementation of National Instrument 43-101 or CIM guidelines for mineral exploration. Emergent’s geologists have not verified this data.
David Watkinson, President and CEO of Emergent, stated, “China just announced new export restrictions on certain graphite products, making the need for graphite production in North America even more critical in the battery supply chain. While historic explorers did not evaluate the graphite potential of the western part of the Casa South Property, it is clear from the drill logs that a well-defined graphite target exists from both geophysics and historic drilling that warrants exploration, including modern drilling and assaying to test the graphitic zones. The target area is easily accessible from the Casa Berardi Mine access road.”
Robert Pease, C.P.G., a qualified person under the NI 43-101 instrument, has reviewed and approved the content of this press release. Mr. Pease is a consultant to the Company and, as such, is non-independent.
Emergent is a gold and base metal exploration company focused on Nevada and Quebec. The Company’s strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sale, joint ventures, option, royalty, and other transactions to create value for our shareholders (acquisition and divestiture (A&D) business model). Successful divestitures include the sale of the Troilus North Property to Troilus Gold Corporation (TSX:TLG), sale of the East-West Property to O3 Mining Corporation (TSXV:OIII) and option of the Mindora (aka West Santa Fe Property) to Lahontan Gold Corporation (TSXV:LG).
In Nevada, Emergent’s Golden Arrow Property, is an advanced stage gold and silver property with a well-defined measured and indicated resource, 2018 Technical Report, and Plan of Operations and Environmental Assessment in place to allow a major drilling program, subject to financing. New York Canyon is a copper skarn, copper porphyry, and gold exploration property south of and abutting the past producing Santa Fe Gold Mine, being advanced by Lahontan Gold. The Mindora Property is a gold, silver, and base metal property located twelve miles from the Santa Fe Gold Mine and under option to Lahontan Gold. Buckskin Rawhide East is a gold and silver property leased to Rawhide Mining LLC, operators of the Rawhide Mine.
In Quebec, the Casa South Property is a large exploration property adjacent to and south of Hecla Mining Corporation’s (NYSE:HL) operating Casa Berardi Mine with multiple exploration targets identified. The Trecesson Property, located about 50 km north of the Val d’Or mining camp, has two major exploration targets with multiple high-grade (>10 g/t) gold intercepts from historic and recent drilling.
Also in Quebec, Emergent has a 1% NSR in the Troilus North Property, part of the feasibility stage Troilus Mine Property being explored by Troilus Gold. Emergent also has a 1% NSR in the East-West Property, owned by O3 Mining and part of their feasibility stage Marban Alliance Property.
Note that the location of Emergent’s properties adjacent to producing or past producing mines does not guarantee exploration success at Emergent’s properties or that mineral resources or reserves will be delineated. For more information on the Company, investors should review the Company’s website at www.emergentmetals.com or view the Company’s filings available at www.sedarplus.ca.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note on Forward-Looking Statements
Certain information contained in this news release constitutes “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of the Offering, the use of proceeds of the Offering and any statements regarding the Company’s business plans, expectations and objectives. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking information. Forward looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information is based on information available at the time and/or the Company management’s good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent Management’s Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian Securities Commissions and the discussion of risk factors set out therein. Such documents are available at www.sedar.com under the Company’s profile and on the Company’s website at www.emergentmetals.com. The forward-looking information set forth herein reflects the Company’s expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.