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ELEKTRA

UTAH LITHIUMELEKTRACOLE GOLD MINEOLD TIMER

Highlights

  • Large property – the Elektra project comprises four exploration concessions totalling 41,818 hectares (418 square kilometers) in the northern portion of the Sonora, Mexico.
  • Drilling - Only a limited portion of the Agua Fria target has been drill tested to date. On the Agua Fria target, a total of 16 RC drill holes were completed between April and June 2017, comprising 1,762 meters. Drill results from this maiden drill program were encouraging with several intervals of greater than 900 ppm Li over widths of up to 90 meters. The best drill intercepts include hole AF 17-001 returning 1058 ppm Li over 33 meters from a depth of 3 meters; plus 21 meters averaging 1043 ppm Li from a depth of 54 meters, and in hole AF 17-014, from 0 to 24 meters, 1050 ppm Li over 24 meters. The Elektra Property has additional lithium anomaly targets on Tecolote that have not been drilled.
  • Knowledge and Data – the Elektra Project was initially proposed in 2015 and the current Mexican owners, and members of the technical team, remain involved. Work conducted from 2015 to 2018 is readily available to the company and was completed to 43-101 standards and represents an opportunity to fast-track exploration activities on various targets on the Elektra Project.
  • Strategic Position – the Elektra Project concessions are contiguous to the north (Tecolote) and south (Tule) of Bacanora-Ganfeng’s Sonora Property, on trend with the mineralized lithium-bearing clay units localised within volcaniclastic sediment successions in the basins. The Agua Fria target is located southwest of the Sonora Property and was the site of the discovery of significant lithium-bearing clay units in surface exposures and in reverse circulation (RC) drilling in 2016-2017.
  • The Agua Fria prospect, located within the Elektra concession, was interpreted as having similarities to the La Ventana Zone on the Sonora Property and is characterized by fine-grained minerals, a portion which contain lithium, providing significant potential to increase plant feed grades by beneficiation.

Overview

The Elektra project comprises four exploration concessions totalling 41,818 hectares (418 square kilometers) in the northern portion of the Sonora, Mexico.

The project is contiguous to the north (Tecolote) and south (Tule) of Bacanora-Ganfeng’s Sonora Property, on trend with the mineralized lithium-bearing clay units localized within volcaniclastic sediment successions in the basins. The Agua Fria target is located southwest of the Sonora Property and was the site of the discovery of significant lithium-bearing clay units in surface exposures and in reverse circulation (RC) drilling in 2016-2017.

The Agua Fria prospect, located within the Elektra concession, was interpreted as having similarities to the La Ventana Zone on the Sonora Property and is characterized by fine-grained minerals, a portion which contain lithium, providing significant potential to increase plant feed grades by beneficiation.

Previous Work Programs

Samples 922665, 922666 & 922667 in the central Agua Fria are of interbedded gray and brown clays. In this location the gray beds are significantly higher grade than the brown beds. In this particular area there is limited surface exposure to expand the width of mineralization, but it could be argued that this is a potential drill target. 

Only a limited portion of the Agua Fria target has been drill tested to date. On the Agua Fria target, a total of 16 RC drill holes were completed between April and June 2017, comprising 1,762 meters. Drill results from this maiden drill program were encouraging with several intervals of greater than 900 ppm Li over widths of up to 90 meters. The best drill intercepts include hole AF 17-001 returning 1058 ppm Li over 33 meters from a depth of 3 meters; plus 21 meters averaging 1043 ppm Li from a depth of 54 meters, and in hole AF 17-014, from 0 to 24 meters, 1050 ppm Li over 24 meters. The Elektra Property has additional lithium anomaly targets on Tecolote that have not been drilled.