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Li3 Lithium Corp. Reports up to 4.14% Lithium Oxide in Surface Rock Samples at the Mutare Lithium Project

30.05.2023  |  Newsfile

Toronto, May 30, 2023 - Li3 Lithium Corp. (TSXV: LILI) (FSE: WD9) ("Li3 Lithium" or the "Company") is pleased to announce that it has identified high-grade lithium targets from its ongoing exploration program at the Mutare Lithium Project, located in Zimbabwe. Li3 Lithium holds a 50% ownership interest in the Mutare Lithium Project, with the remaining 50% owned by Premier Africa Minerals Limited, operator of the Zulu Lithium and Tantalum Mine in Zimbabwe.

The Company, as operator of the Mutare Lithium Project, has received assay results from seventy-two grab samples collected during the initial phase of the 2023 exploration program. The exploration program includes geological mapping, and a surface rock sampling program to assist in identifying priority targets for the trenching and 5,000-meter exploration drilling program, scheduled to start in the coming weeks.

Highlights:

  • 72 samples sent for analysis in April
  • Highest grade returned in initial phase is 4.14% Lithium Oxide ("Li2O") from the Nels Luck group of licenses

The preliminary surface rock sampling program consisted of 72 samples taken from across the Mutare Lithium Project (Table 1, Figures 1-2,). The grab samples were from the central and eastern section of property, including the Nels Luck group of licenses, situated in the Mutare Greenstone Belt ("MGB") East zone, one of many target areas within the Mutare Lithium Project, comprised of approximately 2,000 hectares of licences retained in the MGB. The Nels Luck license hosts a group of lepidolite, spodumene, and tantalite, bearing lithium-cesium-tantalum pegmatites with an approximate surface expression of 600 meters by 20 meters (up to 50m) (Figure 2). The Nels Luck group of licenses is situated about 15 km northeast in the same stratigraphic package, on the southern limb of a regional syncline, that hosts the Sabi Star Lithium Tantalum Mine.

Table 1: Summary of Lithium Oxide (Li2O) results from the Nels Luck area greater than 0.500%. Values are rounded to the nearest 0.001

Sample ID Zone Source X Y Description Li2O%
A8549 Nels Luck Stockpile 403476 7885187 Lepidolite-Quartz-feldspar 3.437
A8550 Nels Luck Stockpile 403466 7885186 Lepidolite-feldspar-quartz 3.788
A8552 Nels Luck Stockpile 403925 7885353 Feldspar(spodumene?)-quartz-green mica 2.508
A8553 Nels Luck Outcrop 403925 7885353 Feldspar-tourmaline-spodumene? 1.542
A8557 Nels Luck Stockpile 403455 7885142 Lepidolite-felspar-quartz 4.144
A8558 Nels Luck Stockpile 403440 7885149 Lepidolite-felspar-quartz 4.084
A8559 Nels Luck Outcrop 403381 7885169 Lepidolite-felspar-quartz 3.898
A8560 Nels Luck Stockpile 403371 7885177 Lepidolite-felspar-quartz 1.387
A8562 Nels Luck Stockpile 403427 7885194 Lepidolite-felspar-quartz 3.712
A8563 Nels Luck Stockpile 403420 7885138 Spodumene-feldspar 3.96
A8564 Nels Luck Outcrop 403465 7885194 Banded-quartz-feldspar-tourmaline 0.702
A8565 Nels Luck Outcrop 403475 7885197 Quartz-green mica-tourmaline 0.846

Figure 1: Mutare Lithium Project License and Location map, identifying the location of the initial surface samples across the Mutare Lithium Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5472/167991_8c6aeee6748618ba_001full.jpg

François Auclair, P.Geo, M.Sc., CEO and President of Li3 Lithium commented, "The initial high-grade results, up to 4.14% lithium oxide, suggest the potential for high-grade lithium oxide mineralization at surface and at depth within the Eastern section of the property. We are anxious to commence the 5,000-meter exploration drilling program across the property with emphasis on the Nels Luck group of pegmatites."

Figure 2: Summary of grab sample results at Nels Luck greater than 0.50 %

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5472/167991_8c6aeee6748618ba_002full.jpg

Mutare Lithium Project, Zimbabwe

The Mutare Lithium Project is located adjacent to the Sabi Star Lithium Tantalum Mine in eastern Zimbabwe's Mutare Greenstone Belt, an emerging lithium district. Li3 Lithium is evaluating the acquisition of additional prospective ground, either through staking or agreements with potential vendors. The area was deemed prospective for lithium-cesium-tantalum pegmatites based on prior target generation work. Management believes the lithium exploration potential of the MGB is analogous to that of the Pilbara Craton pegmatites in Western Australia.

Zimbabwe, which is estimated to hold Africa's largest lithium resources and the fifth largest globally, is rapidly emerging as an important player within the lithium supply chain. Over the past year and a half, major Chinese battery metals companies have committed approximately US$1.4 billion to acquire and develop lithium projects in Zimbabwe.

Technical information

Quality Assurance and Quality Control of Li3 Lithium's sampling programs are under the control of the Company's geological employees and are consistent with industry best practices. Grab samples are transported by Li3 Lithium's employees following a defined chain of custody, to Zimlabs in Harare, Zimbabwe. All samples were pulverized to produce a 30g charge and then analyzed by G706 (multi acid digestion with AAS finish). Zimlabs is a subsidiary of GNK laboratories and an internationally accredited laboratory testing provider with ISO/IEC 17025:2005 certification (Laboratory Accreditation Number: TEST-S 0010 (lSO/lEC t7025:20t7l).

The Company intends to transport the pulp of the grab samples for analysis of Niobium (Nb), Tantalum (Ta), and Caesium (Cs) at an accredited laboratory in South Africa. Grab samples are selective by nature and reported values are not necessarily indicative of mineralized zones.

Qualified Person

François Auclair, QP, M.Sc, Quebec Order of Geologists, CEO and President of Li3 Lithium, is the non-independent qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release. Mr. Auclair has reviewed and approved the technical disclosure contained in this news release

About Li3 Lithium Corp.

Li3 Lithium is focused on acquiring and developing hard rock spodumene lithium assets in Zimbabwe and Argentina, where the founders have significant experience and relationships. As evidenced by recent market growth, hard rock lithium deposits are forecast to continue to dominate the global supply of lithium given the scarcity, complexity and capex-intensive nature of alternative brine sources.

Contact Information:
Li3 Lithium Corp.
Francois Auclair, P.Geo, M.Sc., CEO and President
Tel: 514-889-5089
Email: info@lithium3.com
www.lithium3.com

CAUTIONARY STATEMENT:

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward- looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

APPENDIX 1: Grab sample summary table, coordinates are in WGS84 UTM Zone 36S

Sample ID Zone Source X Y Description Li2O%
A8002 Bepe West Outcrop 389940 7876227 Feldspar-quartz-tantalite 0.004
iA8003 Bepe West Outcrop 389824 7876216 Quartz-Feldspar-tantalite 0.003
A8004 Bepe West Outcrop 389801 7876207 Feldspar dominated-10% tantalite 0.011
A8005 Bepe West Outcrop 389621 7876166 Feldspar-quartz-mica 0.003
A8006 Bepe West Outcrop 390778 7875824 Feldspar-quartz-mica 0.003
A8007 Bepe West Outcrop 390073 7875309 Feldspar-quartz-mica-tourmaline 0.002
A8589 Bepe West Outcrop 389801 7875655 Quartz-feldspar-garnet 0.004
A8590 Bepe West Outcrop 389824 7875660 Quartz-feldspar-garnet-tantalite 0.003
A8591 Bepe West Outcrop 389874 7875667 Feldspar dominated-10% tantalite 0.011
A8592 Bepe West Outcrop 389855 7875660 Quartz-Feldspar-tantalite 0.005
A8593 Bepe West Outcrop 389900 7875552 Feldspar-quartz-mica 0.026
A8594 Bepe West Outcrop 389852 7875541 Feldspar dominated-10% tantalite 0.034
A8595 Bepe West Outcrop 389813 7875513 Quartz-feldspar-garnet-mica 0.038
A8596 Bepe West Boulder 390521 7875762 Feldspar dominated-15% tantalite 0.002
A8597 Bepe West Outcrop 390577 7875819 Feldspar dominated-10% tantalite 0.003
A8598 Bepe West Outcrop 390514 7875954 Feldspar-quartz-mica 0.001
A8599 Bepe West Outcrop 390863 7875699 Quartz-feldspar-tantalite 0.003
A8600 Bepe West Outcrop 390834 7875693 Quartz-feldspar-tantalite 0.005
A8536 Madheu Zone Historical
trench
393193 7876279 Feldspar-quartz 0.003
A8537 Madheu Zone Stockpile 393201 7876289 Feldspar-quartz-green mica 0.171
A8538 Madheu Zone Historical
trench
393202 7876297 Feldspare-quartz 0.008
A8539 Madheu Zone Stockpile 393205 7876294 Feldspar-quartz-green mica 0.015
A8540 Madheu Zone Stockpile 393205 7876294 Feldspar-green mica-beryl-tantalite 0.005
A8541 Nels Luck Outcrop 403798 7885270 Feldspar-quartz-mica 0.04
A8542 Nels Luck Outcrop 403787 7885276 Feldspar-quartz-green mica 0.017
A8543 Nels Luck Outcrop 403787 7885275 Quartz-feldspar-tantalite 0.008
A8544 Nels Luck Outcrop 403762 7885280 Feldspar-quartz-tantalite 0.018
A8545 Nels Luck Outcrop 403760 7885279 Quartz-mica-feldspar 0.107
A8546 Nels Luck Outcrop 403712 7885240 Feldspar-quartz-mica 0.027
A8547 Nels Luck Stockpile 403515 7885193 Quartz-feldspar-green mica 0.054
A8548 Nels Luck Historical
trench
403474 7885199 Quartz-mica-green mica-tourmaline 0.128
A8549 Nels Luck Stockpile 403476 7885187 Lepidolite-Quartz-feldspar 3.437
A8550 Nels Luck Stockpile 403466 7885186 Lepidolite-feldspar-quartz 3.788
A8551 Nels Luck Stockpile 403510 7885215 Feldspar-quartz-mica 0.099
A8552 Nels Luck Stockpile 403925 7885353 Feldspar(spodumene?)-quartz-green mica 2.508
A8553 Nels Luck Outcrop 403925 7885353 Feldspar-tourmaline-spodumene? 1.542
A8554 Nels Luck Outcrop 403956 7885360 Quartz-feldspar-tantalite 0.006
A8555 Nels Luck Outcrop 403952 7885372 Feldspar-quartz-tantalite 0.033
Sample ID Zone Source X Y Description Li2O%
A8556 Nels Luck Outcrop 403960 7885394 Feldspar-quartz-tantalite 0.031
A8557 Nels Luck Stockpile 403455 7885142 Lepidolite-felspar-quartz 4.144
A8558 Nels Luck Stockpile 403440 7885149 Lepidolite-felspar-quartz 4.084
A8559 Nels Luck Outcrop 403381 7885169 Lepidolite-felspar-quartz 3.898
A8560 Nels Luck Stockpile 403371 7885177 Lepidolite-felspar-quartz 1.387
A8561 Nels Luck Outcrop 403376 7885168 Feldspar-quartz-mica 0.065
A8562 Nels Luck Stockpile 403427 7885194 Lepidolite-felspar-quartz 3.712
A8563 Nels Luck Stockpile 403420 7885138 Spodumene-feldspar 3.96
A8564 Nels Luck Outcrop 403465 7885194 Banded-quartz-feldspar-tourmaline 0.702
A8565 Nels Luck Outcrop 403475 7885197 Quartz-green mica-tourmaline 0.846
A8566 Nels Luck Outcrop 403784 7885266 Feldspar-quartz 0.001
A8567 Nels Luck Outcrop 403783 7884693 Felsdpar-quartz-mica 0.005
A8568 Nels Luck Outcrop 402783 7884688 Felsdpar-quartz-mica 0.001
A8569 Nels Luck Outcrop 402643 7884617 Felsdpar-quartz-mica 0.058
A8570 Nels Luck Outcrop 402936 7884775 Felsdpar-quartz-mica-tantalite 0.1
A8571 Nels Luck Outcrop 402936 7884775 Felsdpar-quartz-mica-tantalite 0.043
A8572 Nels Luck Outcrop 402936 7884775 Felsdpar-quartz-mica-tantalite 0.062
A8573 Nels Luck Outcrop 402946 7884796 Felsdpar-quartz-mica-tantalite 0.005
A8574 Nels Luck Outcrop 405183 7885564 Quartz-mica-feldspar-tourmaline 0.016
A8575 Nels Luck Outcrop 405054 7885663 Quartz-mica-feldspar 0.017
A8576 Nels Luck Outcrop 405033 7885646 Quartz-mica-feldspar 0.06
A8577 Nels Luck Outcrop 404991 7885698 Quartz-mica-feldspar-beryl-tantalite 0.009
A8578 Nels Luck Historical
trench
404948 7885566 Feldspar-quartz-mica 0.002
A8579 Nels Luck Historical
trench
404948 7885566 Feldspar-mica-quartz 0.001
A8580 Nels Luck Outcrop 404734 7885158 Quartz-mica-feldspar-tantalite 0.003
A8587 Nels Luck Outcrop 403093 7886874 Quartz-feldspar-mica 0
A8001 Tals 5 Outcrop 399053 7882205 Quartz-feldspar-mica 0.005
A8581 Tals 5 Outcrop 399783 7882182 Feldspar-quartz-mica 0.002
A8582 Tals 5 Outcrop 399793 7882180 Feldspar-quartz-mica 0.001
A8583 Tals 5 Outcrop 399807 7882199 Quartz-feldspar-mica 0.013
A8584 Tals 5 Outcrop 399739 7882124 Feldspar-quartz-lepidolite? 0.049
A8585 Tals 5 Outcrop 399739 7882111 Feldspar-quartz-lepidolite? 0.04
A8586 Tals 5 Outcrop 399720 7882074 Feldspar-quartz-mica-garnet 0.005
A8588 Tals 5 Stockpile 399686 7882021 Feldspar-quartz-mica-garnet 0.001

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/167991


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