Quantum Battery Metals Signs LOI to Acquire Lac Mistumis Lithium Property
Vancouver, July 8, 2022 - Quantum Battery Metals Corp. (CSE: QBAT) (OTC Pink: BRVVF) (FSE: 23B0) ("Quantum" or the "Company") has entered into a letter of intent to acquire 100 per cent of the approximately 2,750-hectare Lac Mistumis Lithium property, located in the territory of Eeyou Istchee, James Bay, Northern Quebec, Canada. The property is centralized in the heart of Canada's Lithium district and in the proximity of several large well known Lithium producers. Quebec is known for its strong electric aspirations and fundamentally accelerating the battery metal industry. This will be the 4th lithium property that the Company has acquired in the past 2 years.
"This transaction strengthens our land position in an important mining camp and area, which achieves two main objectives of the Company. Firstly, we have established a meaningful land position that specifically heavily focuses on lithium deposits and second, we enhance our ability and capacity for our Lithium portfolio."
About Lac Mistumis Lithium Property
Location
The Lac Mistumis property is located within the territory of Eeyou Istchee, James Bay, Northern Quebec, Canada. James Bay is known for its location of being one of the largest lithium areas in Canada, and an epicentre of ethical conflict free battery metals.
Property Status and Configuration
The Lac Mistumis property comprises of 52 claim units and covers 2750.55 hectares.
Access and Infrastructure
The property is conveniently located between two major Hydro Quebec transmission lines. The property closest accessible point is through a main access road or through air.
Mineralization
The property is proximal to Lithium bearing pegmatites of relatively homogenous granitic instrusives. The Property overlies the Eastmain Greenstone Belt and is mainly underlain by the Archean granodiorites, pegmatites, and monzogranites of the Mistumis Batholith and by the northwest-southeast trending Lac Esprit diabase dyke.
Figure 1: Lac Mistimus claims disposition and district geology and prospectivity.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/5644/130401_aaa8fa3624f3f8aa_001full.jpg
History
Known LCT pegmatites in a poorly mapped and under explored area with occurrences of lepidolite, within known pegmatitic occurrences.
Agreement Terms
Quantum plans to acquire 100 per cent of the Lac Mistumis lithium property in an agreement. The Letter of intent is non-binding and final consideration is still in negotiation.
"The Lac Mistumis Lithium property is a fantastic addition to our assets for our Company. We have shown great interest in acquiring further properties to our collection and with another proposed Lithium property, we have expanded our network and range within the battery metals industry. We are focusing our resources by making further acquisitions, while developing our already existing assets to increase our shareholder value. This property has shown potential for uncovering many untapped minerals and with the proximity being next to many large already existing Lithium manufacturers we have positioned ourselves within a prime position," states David Greenway, Director.
Qualified Person
Luke van der Meer (P.Geo) is a Qualified Person ("QP") as defined by National Instrument 43-101 guidelines, and he has reviewed and approved the technical content of this news release.
"Andrew Sostad"
_______________________
Andrew Sostad, CEO and Director
Contact Information:
400 - 837 West Hastings Street
Vancouver, British Columbia
V6C 3N6
Phone: 604.629.2936
Email: Info@quantumbatterymetals.com
Forward-Looking Information This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Quantum Battery Metals Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130401
