Toronto, Ontario--(Newsfile Corp. - September 7, 2023) - Free Battery Metal Limited (CSE: FREE) (formerly, Titus Energy Corp.) (the "Company"), is pleased to announce encouraging results from the summer field exploration program of prospecting, sampling, and analysis on the Company's Mound Lake Property in northwestern Ontario.
From June 16 to July 3, 2023, a comprehensive prospecting and grab sampling program was completed across the property by a 4-person crew from Planet X Exploration Services. The two geologists and two prospectors traversed the property via a network of roads and abandoned logging roads accessible using all-terrain vehicles. Prospective outcrops were examined and in total, 213 grab samples were collected for analysis. On collecting, each sample was described, photographed, and analyzed with a handheld XRF instrument. Duplicates of each sample were kept for further research and analysis. The remainder of each sample was sent to ALS Laboratories Canada Ltd. in Thunder Bay where 48 element four acid ICP-MS analyses were completed.
A preliminary review of the analysis results indicates abundant pathfinder elements with elevated Tantalum, Beryllium and Rubidium and consistent values of Lithium. A detailed evaluation of the results will be completed to establish targets for further exploration and research.
Using the results, geospatial maps showing sample sites and element concentrations have been created to help identify areas for further sampling and mapping. The geospatial maps indicate several areas of interest including an apparent trend of coincident Lithium, Tantalum, Rubidium and Beryllium values over a distance of ~3km on the east side of Mound Lake.
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The area of increased pathfinder elements is located in the northern portion of the Mound Lake Property where a boundary is shared with Pegmatite One Lithium and Gold's ("Pegmatite") Frazer Lake Mound Property which hosts a new pegmatite discovery with grades of up to 7.25% Li2O as reported under Pegmatite's press release dated August 10, 2023.
The Company did not independently confirm or verify their accuracy or reliability of Pegmatite's statements. The Company also reminds investors that the results, resources or mineralization on the adjacent property are not necessarily indicative of the potential for similar to exist on the Company's Mound Lake Property.
Qualified Person
Technical information in this news release has been approved by Ryan Versloot, P.Geo., a 'Qualified Person' as defined under Canadian National Instrument 43-101.
Quality Assurance / Quality Control ("QA/QC")
Grab samples were managed by Planet X Exploration Services Ltd. All samples were bagged, sealed, and stored inside a storage locker until delivery to an independent laboratory, ALS Laboratories in Thunder Bay, Ontario (ISO/IEC 17025:2017). The initial batch of samples were analyzed by four acid digestion with ICP-MS finish (ME-MS61). Standards and blanks were submitted with the shipment to supplement the lab's internal controls.
About Free Battery Metal Limited
Free Battery Metal Limited is a publicly traded company exploring for Lithium. The Company is committed to responsible mining practices and is actively exploring the Mound Lake Property in northwestern Ontario. The property comprises 243, single-cell unpatented mining claims totaling approximately 4,860 hectares. Historically, there has been little or no mineral exploration on or near the Property. The Company sees Lithium and other rare metals as critical commodities in supporting the global move towards green technologies including the transition to electric vehicles.
For more information, please contact:
Pam Sangster, Chief Executive Officer
Email: sangsterpam52@gmail.com
Phone: 519-495-5823
Forward-Looking Information and Cautionary Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the Company's potential mineralization and exploration of the Mound Lake Property in northwestern Ontario, and the potential for the discovery of Lithium and other rare metals.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the continued commercial viability and growth in popularity of the Target's material properties; the Company's ability to develop the Mound Lake Property; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; and the Company's ability to realize upon the potential discovery of Lithium and other rare metals on its properties.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the risks associated with the mining industry in general; the potential future unviability of the Company's material property; risks associated with potential governmental and/or regulatory action with respect to the Company's activities; risks associated with the Company's ability to generate a profit; and the Company's inability to realize upon the potential discovery of Lithium and other rare metals on its properties.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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