Arbor Metals Expands Miller Crossing Lithium Project, Big Smoky Valley, Nevada
Vancouver, Feb. 7th, 2022 - Arbor Metals Corp. (the "Company") (TSXV:ABR), (FWB:432) has expanded its property holdings with the staking of 74 additional unpatented mineral claims comprising approximately 1,480 acres, at its Miller's Crossing lithium project (the "Project"), located in the Big Smoky Valley, Nevada, United States. The claims are interpreted to be prospective for lithium clay and claystone mineralization and were acquired following a review of a commissioned satellite imagery survey, and a site visit by the Company's consultants, Advanced Surveying and Professional Services. The Miller Crossing property now comprises 194 claims (3,880 acres). Significant concentrations of lithium (and other metals) in clays or claystone in closed basins have long been known and explored in many parts of the world. Within a 40-kilometre radius of the Miller's Crossing project, seven companies are exploring and advancing lithium claystone projects. Located 18 kilometres to the east, America Lithium's TLC project located in the Big Smoky Valley basin has established a resource in claystone in the richly mineralized Esmeralda lithium district. The Miller's Crossing project has excellent potential to host lithium claystone mineralization that previously was overlooked and not tested for.
Australian company Ioneer's Rhyolite Ridge lithium claystone project is located 40 kilometres to the west of the Miller's Crossing project and is reported to be one of the most advanced lithium projects in the United States. Milestones for Ioneer in 2021 include; signing an offtake agreement with EcoPro Innovation Co Ltd. (a subsidiary of a South Korean battery maker), securing a US$490 million investment commitment from Sibanye-Stillwater for 50% of the Rhyolite Ridge project and raising A$175 million in new equity. Both the TLC and Rhyolite Ridge projects, are examples of the strong attention and interest in lithium claystone deposits in Nevada, and highlight the ability for rapid advancement of an early-stage project to the resource stage.
*Company management cautions the reader that past results or discoveries on properties in proximity to the Company's properties are not necessarily indicative of the presence of similar mineralization on the Company's properties.
The Company will be recommencing exploration activities in the following weeks including geological mapping, surface sampling, ground geophysics and soil geochemistry.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
Arbor Metal Corp. is a mining exploration company specializing in the development of high-value, geographic significant mineral projects around the world. As industry leaders, we are paving the way for advanced mineral exploration as we oversee world-class mining projects. We believe quality project, combined with proven strategies and a professional team will deliver superior results. We hold three exceptional mineral projects.
The Miller's Crossing Lithium Project, comprised of approximately 3800 acres of contiguous placer claims, located in the Big Smoky Valley, Esmeralda County, Nevada. The Big Smoky Valley is located immediately north of the Clayton Valley, home to Albemarle's Silver Peak Lithium Brine Mine (in continuous operation since 1967.)
Jarnet Lithium Project, located in the James Bay Region of Quebec, which comprises of forty-seven map designated claims, covering an area of approximately 2430 hectares. The Jarnet project is contiguous to the Corvette-FCI Property, where diamond drilling has confirmed significant lithium mineralization; hole (CF21-001) returned a 146.8 m interval of near continuous pegmatite, assaying 0.93% Li2O and 114 ppm Ta2O5, including1.09% Li2O and 108 ppm Ta2O5 over 73.0 m, and 1.04% Li2O and 145 ppm Ta2O5 over 54.6 m. This interval returned numerous samples over 2.0% Li2O, including a peak assay of 4.16% Li2O and 233 ppm Ta2O5 over 1.01 m. (November 29, 2021)
The Rakounga Gold Project consists of an exploration permit covering a two-hundred-and-fifty square kilometer area located along the Goren Greenstone Belt in central Burkina Faso. The Company, through its wholly owned subsidiary Kruger Gold Corp. ("Kruger"), holds the right to acquire up to a one-hundred percent interest in and to the Project, subject only to pre-existing royalty obligations. Kruger has control over operations conducted on the Project and will look to expand on historical drilling and survey work conducted on the Project.
For further information, contact Mark Ferguson, Chief Executive Officer, at info@arbormetals.com, or visit the Company's website at www.arbormetalscorp.com.
On behalf of the Board,
Mark Ferguson, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the Miller Crossing Lithium Project and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
