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Volta Announces Assay Results from Recently Discovered Pegmatite at Falcon West

Oct 23, 2023

Volta Metals Ltd. (CSE: VLTA) ("Volta" or the "Company") is pleased to report channel sample assay results collected from the recently discovered spodumene-bearing AM pegmatite, located at its Falcon West Project in the emerging Seymour-Falcon Lithium field in Northwestern Ontario, Canada (Figure 1). The channel sample results from AM pegmatite are shown in Table 1.

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Figure 1. Regional location and claim boundaries for Falcon West Lithium Property, along with Crescent Lake and Junior Lake properties.

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AM Pegmatite Channel Sample Assay Results

All channel samples taken from the spodumene-bearing AM pegmatite returned intervals containing lithium with grades of up to 1.70 Li2O (Table 1). The Company is starting to remove overburden around all five spodumene pegmatites that have been identified to date as part of ongoing drill target generation.

The Company's technical advisor, Dr. Fred Breaks, P.Geo., commented, "Analysis of the lithochemistry data collected to date reveals a progressive increase in pegmatite fractionation from east to west as documented by key indicator ratios K/Rb (17.5 -->8.2) and K/Cs (415-->105). This suggests the potential presence of additional pegmatite bodies to the west of the newly discovered AM pegmatite."

The Company also collected channel samples from the CDC pegmatite outcrop, the latest spodumene pegmatite discovery (see the Company's news release dated October 11, 2023). Channel samples are at the laboratory for analyses.

The Phase 2 exploration program will include mechanized stripping of the overburden around the lithium-bearing pegmatites, mechanized soil trenching, in addition to diamond drilling to test the orientation and size of lithium-cesium-tantalum ("LCT") pegmatites. The exact drill collars are subject to the mechanized stripping outcome.

The Company continues to explore the Falcon West Lithium Project for more LCT pegmatites by prospecting, detailed mapping, and soil sampling for geochemical analyses.

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