Megawatt Collects 1,918 Soil Samples at Mistumis Lithium Property, James Bay, Quebec. Assays Pending.
VANCOUVER, BC, Nov. 10, 2022 /CNW/ - Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTCQB: WALRF) (the "Company" or "Megawatt") announces it has concluded a soil sampling campaign at its lithium prospective Mistumis project in the James Bay Region, Quebec. The 100% owned Mistumis project consists of 229 mineral claims covering over 120 square kilometres located in a prolific lithium exploration region.
A grid of north-south lines spaced 200 metres apart was utilized on the property with samples taken every 100 metres.
1,918 soil samples have been delivered for analysis to Activation Laboratories Ltd. (Actlabs) in Ancaster, Ontario. Samples will be analysed using ICP-OES+ICP-MS (ppm) method. Results of the analysis are expected in approximately 6 weeks.
David Thornley-Hall, CEO, commented, "The soil sampling program follows on the heels of our summer recon and high-resolution drone survey program. This multistage systematic approach is essential for defining an efficient exploration strategy for a prospect of this size and potential."
MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral properties in Canada and Australia. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.
Additionally, the Company has acquired an 80% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia, being the Tyr Silver Project and the Century South Silver-Zinc Project (see press release dated October 15, 2020), an indirect 100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory and New South Wales, Australia prospective for nickelcobalt-scandium and rare earths and a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press release dated February 3, 2021) and 229 additional mineral exploration claims ("the new claims") in the James Bay area of Quebec. The new claims cover an area of 12,116 hectares or 121 square kms.
Investors can learn more about the Company and team at https://megawattmetals.com.
ON BEHALF OF THE BOARD
"David Thornley-Hall"
Chief Executive Officer
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company's common shares on the Exchange and the Company's use of proceeds and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management's best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release.
SOURCE MegaWatt Lithium and Battery Metals Corp.
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