Tickers: PINX:EQTXF, XTSX:EXX
Tags: Mining
Vancouver, BC, Canada / TheNewswire / November 28, 2017 - Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) ("Equitorial" or "Company") is pleased to report results from the resampling of 2007 diamond drill core from its 100%-owned Little Nahanni Pegmatite Group (LNPG) Lithium Property (NWT). Equitorial resampled the 2007 diamond drill core because the previous operator's focus was tantalum and tin and many of the 2007 samples exceeded the upper detection limit for lithium (1%) and were not further analyzed.
Resampling Highlights
- Five holes totaling 1,120 m drilled
- 1.47% Li2O, 39 g/t Ta2O5, and 0.03% SnO2 over 9.66 m
- 1.03% Li2O, 31 g/t Ta2O5and 0.02% SnO2 over 17.96 m
- 1.04% Li2O, 319 g/t Ta2O5and 0.07% SnO2 over 1.76 m
- 0.84% Li2O, 38 g/t Ta2O5and 0.02% SnO2 over 3.68 m
Li2O Grade Comparison 2007 to 2017
DDH | 2007 Width (m) | 2007 Grade Li2O | 2017 Width (m) | 2017 Grade Li2O (%) | % Increase in Li2O |
MAC006 | 18.27 | 0.92% | 17.96 | 1.03% | 12% |
MAC007 | 10.94 | 1.20% | 9.66 | 1.47% | 23% |
Diamond Drill Core Highlights*
DDH | From (m) | To (m) | Width (m) | Li2O (%) | SnO2 (%) | + |
MAC006 | 61.88 | 66.86 | 4.98 | 0.26 | 0.02 | 76 |
MAC006 | 62.15 | 66.87 | 4.72 | 0.52 | 0.02 | 74 |
85.58 | 87.34 | 1.76 | 1.04 | 0.07 | 319 | |
172.29 | 190.25 | 17.96 | 1.03 | 0.02 | 31 | |
MAC007 | 107.13 | 116.79 | 9.66 | 1.47 | 0.03 | 39 |
125.59 | 129.33 | 3.74 | 0.26 | 0.01 | 15 | |
146.94 | 150.62 | 3.68 | 0.84 | 0.02 | 38 | |
MAC008 | 41.40 | 43.46 | 2.06 | 0.16 | 0.001 | 2 |
146.89 | 147.32 | 0.43 | 0.24 | 0.08 | 156 | |
154.10 | 158.43 | 4.33 | 0.38 | 0.01 | 50 | |
156.55 | 158.43 | 1.88 | 0.67 | 0.03 | 111 |
*Bold results indicate intervals with significant increases in grade
All reported interval widths are thought to be 90% of true width.
Holes MAC-07-003, MAC-07-006 and MAC-07-007 targeted the Great Wall of China dyke swarm in two different cirques about 2500 m apart, while MAC-07-008 tested the Climbing Wall dyke swarm. In 2016, an extensive channel sampling program was completed in the central part of the property. Channel sampling across one exposure of the Great Wall of China returned a weighted average grade of 0.38% Li2O, 20.7 g/t Ta2O5 and 0.01% SnO2 over 52.60 m, while the best individual dyke yielded 1.67% Li2O, 45 g/t Ta2O5 and 0.03% SnO2 over 3.75 m (see News Release dated September 6, 2016).
Lithium-cesium-tantalum-tin pegmatite dyke swarms on the property have been traced over a combined length of 13 km in mountainous terrain that is deeply incised by several east- or west-facing cirques. The vertical extent of these dykes has been traced for 500 m through natural exposure and diamond drilling along ridges. The dykes are well exposed on the cirque walls and strike northerly, with near vertical dips. Where sampled, each dyke swarm is up to 52.60 m wide and contains multiple dykes that range from 0.2 to 10 m in width.
Analytical work was done by ALS Minerals, with sample preparation and geochemical analyses in North Vancouver, British Columbia. All rock samples were analyzed for 38 elements by lithium metaborate fusion and inductively coupled plasma-mass spectroscopy (ME-MS81). All elements are reported as parts per million (ppm). The conversion factor from tantalum (Ta) to tantalum pentoxide (Ta2O5) is 1.2211, while the conversion factor from tin (Sn) to tin dioxide (SnO2) is 1.2696. Because the tin values were reported in ppm, the values had to be divided by 10,000 to give the tin value in percent.
Lithium analysis was done by sodium peroxide fusion digestion and inductively coupled plasma -atomic emission spectrometry finish (ME-ICP82b). This technique reports in percent lithium and has a lower detection limit of 0.02% and an upper detection limit of 10%. The conversion factor from lithium (Li) to lithium oxide (Li2O) is 2.153.
The 2017 resampling program was conducted by Archer, Cathro & Associates (1981) Limited ("Archer Cathro").
For LNPG maps, please click: http://equitorialexploration.com/projects/
Comparative Lithium Properties
In past decades, most of the world's supply of lithium has come from brine sources. In recent years, there has been an increase in demand for lithium, which has resulted in the production of lithium from spodumene (lithium silicate) deposits. A number of spodumene mines are operating or currently under development globally including Talison Lithium Ltd., Pilbara Minerals Ltd. and Altura Mining Ltd. in Western Australia, and Nemaska Lithium Ltd. in Quebec, Canada.
Talison Lithium's Greenbushes operation has been producing lithium for over 25 years. It produces 315,000 tonnes per annum lithium concentrate. At Greenbushes, the pegmatite consists of a large main zone over three kilometres long and up to 300 metres wide with numerous smaller pegmatite dikes and pods flanking the main body. The Greenbushes pegmatites are mineralogically zoned in a lenticular interfingering style along strike and down dip. The lithium zone is over two kilometres long and enriched in spodumene, which often makes up 50 per cent of the rock (see Talison Lithium's website).
Pilbara Minerals' Pilgangoora project contains an indicated and inferred resource of 80.2 million tonnes grading 1.26 per cent Li2O (see Pilbara Minerals' website).
Altura Mining is actively advancing its Pilgangoora lithium project, which has a JORC mineral resource estimate of 25.5 million tonnes grading 1.23 per cent Li2O. The production forecast is the third quarter of 2017 (see Altura Mining's website). Nemaska Lithium, a Quebec-based lithium company listed on the Toronto Stock Exchange under NMX in Canada, is actively developing a spodumene hardrock lithium deposit at its Whabouchi property. Based on a 2014 mineral resource, the Whabouchi property hosts a measured and indicated resource of 27,991,000 tonnes at 1.57 per cent Li2O, plus an inferred resource of 4,686,000 tonnes at 1.51 per cent Li2O (Nemaska Lithium revised National Instrument 43-101 technical report dated June 8, 2016). Nemaska's phase 1 plant will have an average combined capacity of 610 tonnes per annum (see Nemaska Lithium's website).
In 2016, Strategic Metals completed a two-week program consisting of mapping, prospecting and channel sampling. The program was designed to evaluate grade, size and density of lithium-bearing pegmatite dikes within four of the dikes swarms comprising the LNPG complex. The 2016 field program was managed by Archer, Cathro & Associates(1981) Ltd.
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.
Technical information in this news release has been approved by Heather Burrell, P. Geo., a senior geologist with Archer Cathro and a qualified person for the purpose of National Instrument 43-101.
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 Tule, Gerlach and Little Nahanni Pegmatite Project: 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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