Xplore Acquires Additional Lithium Prospective Properties in Brazil
Toronto, December 6, 2022 - Xplore Resources Corp. (TSXV: XPLR) ("Xplore or "the Company"), has acquired, through staking, an additional seven (7) claims totaling 9,120 hectares in the Borborema Pegmatite Province ("BPP"), Brazil. The properties are located approximately 150 kilometres west of Natal in the state of Rio Grande do Norte in the northeastern region of Brazil. Rio Grande do Norte offers excellent, year-round road access and established infrastructure.
The BPP is one of the largest, granitic, pegmatite provinces in South America, extending over 150 kilometres along a north-northeast trend through the states of Rio Grande do Norte and Paraiba, and measuring more than 75 kilometres in width (REF. Figure 1.0). The BPP was an important source of tantalum and beryl from the late 1940's through the 1970's and the area was known for "specimen" quality samples of tantalum, beryl and niobium. Over 700 rare earth element ("REE") pegmatites have been recorded throughout the BPP and more recent research has confirmed lithium-cesium-tantalum ("LCT") type pegmatites are common as well (REF. Figure 2.0).
Wes Hanson, P.Geo., President and CEO of Xplore, notes, "The Borborema Pegmatite Province, has seen little modern exploration aside from university and government research projects and artisanal mining activity for the production of tantalum and semi-precious gemstones, including aquamarine and tourmaline, all of which are often associated with lithium-cesium-tantalum or LCT type pegmatites. Most of the historic mining in the district was conducted by artisanal miners and limited to within 25 metres of surface. Record keeping was limited and any by-product lithium production was taken up by the federal government who, until recently, considered lithium to be a strategic metal and therefore, tightly regulated both exploration for and production of lithium throughout Brazil. We believe the Borborema district offers outstanding potential for lithium discovery and our goal is to mobilize field teams to both the Borborema as well as our Energia lithium property in Minas Gerais in 2023 to conduct reconnaissance mapping and sampling on both properties."
Mr. Hanson also notes, "We plan to continue evaluating opportunities to expand our lithium portfolio of projects in Brazil as well as Canada. The favourable surface and diamond drill results recently reported by Green Technology Metals Ltd. at their Root property in northwestern ON. demonstrate the favourable discovery potential at our Surge property, located immediately to the east of Root. Our Perrigo property is also located west of the Allison Lake batholith, an area receiving increased exploration focus, particularly for it's potential to host LCT type pegmatites."
Figure 1.0 - Borborema Pegmatite Province - Regional Geology
To view an enhanced version of Figure 1.0, please visit:
https://images.newsfilecorp.com/files/7519/146865_6518344474bfd922_002full.jpg
Figure 2.0 Borborema Lithium Property - Local Geology
To view an enhanced version of Figure 2.0, please visit:
https://images.newsfilecorp.com/files/7519/146865_6518344474bfd922_003full.jpg
About Xplore Resources (TSXV: XPLR)
Xplore Resources is a Toronto based exploration company listed on the TSX Venture Exchange under symbol XPLR and is focused on the acquisition and development of lithium, copper and gold projects in the Americas. The Company is led by a highly experienced management team and is comprised of industry experts with executive and senior management experience.
Qualified Person
Mr. Wes Hanson, P. Geo., President & CEO of Xplore and registered in the Provinces of Ontario is the "Qualified Person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
ON BEHALF OF THE BOARD
"Wesley C. Hanson"
President & CEO
For further information, please contact:
Phone: +1 647-202-7686
Email: whanson@xploreresources.com
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
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
THE TSX VENTURE EXCHANGE INC. HAS IN NO WAY PASSED UPON THE MERITS OF THE PROPOSED TRANSACTION AND HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.
Notice on forward-looking statements:
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Xplore cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Xplore's control. Such factors include, among other things: risks and uncertainties relating to Xplore's ability to complete the proposed Transaction; and other risks and uncertainties, including those to be described in the Filing Statement to be filed by Xplore on SEDAR.com. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Xplore undertakes no obligation to publicly update or revise forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146865
