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Champion Electric hits pegmatite at James Bay lithioum project

Apr 9, 2024

"This is an important day for Champion. We have located at least one source of the mineralized pegmatite till samples on our Property. This is obviously exciting, given our location between two growing pegmatite discoveries (the Patriot Battery Metals' Corvette project and Winsome Resources' Cancet project) and less than 350 m from the all-weather Trans-Taiga road and adjacent to Hydro Québec's powerlines," said Jonathan Buick, President and CEO. "Months of hard work came to fruition over the Easter weekend with what might prove to be a very rare truly blind mineral discovery in a greenfield environment. More importantly, we have proven that spodumene pegmatite can be hiding under shallow cover very near outcrops of fractionated pegmatites. This is a testimony to our team's innovative and aggressive exploration strategy. We look forward to the upcoming analytical results and to getting a drill rig back out to site after the spring thaw."

Champion Electric Metals Inc. has encountered a lithium-mineralized pegmatite* during its maiden drill program at the Lithium Property in James Bay, Quebec. The first intercept came from a diamond core hole collared approximately 480 metres up-ice from the previously reported till sample containing thousands of spodumene grains and several spodumene mineralized pegmatite boulders (see Press Release dated December 18, 2023). The mineral system remains open to the north-east. 

While drilling hole EIQ24-007, Champion Electric's team intersected approximately 19.1 m of spodumene bearing pegmatite from 7.30 to 26.40 m downhole, beneath 6.0 m of overburden. Experienced geologists on site used visual and UV light methods to confirm the presence of spodumene and re-confirmed the mineral identification after sharing photographic evidence with the broader team.

Based on the limited spatial and geological information from this first drill hole, it is not yet possible to determine the true thickness or orientation of the pegmatite. The team is modifying the drill program to follow-up on the intercept and learn more about the scale and geometry of the dike. Drill samples are being rushed to the laboratory for confirmatory lithium analysis. More details on the new occurrence will be shared once the program has been completed and assay data received and processed. The drill program will be temporarily shut down in the coming days for spring break-up and the annual goose hunt period from April 20th to May 20th.

Given the extensive glacial and alluvial soil cover on the Property, this preliminary result demonstrates till sampling to be an effective exploration tool in this environment. The Company is still awaiting more results from the 2023 till sample program and is planning to expand the survey during the upcoming field season.



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