VANCOUVER, BC / ACCESSWIRE / June 1, 2023 / Brigadier Gold Limited (the "Company") (TSXV:BRG)(FSE:B7LM)(OTC PINK:BGADF) is pleased to announce that Phase-1 exploration has commenced at its recently expanded Nemaska2 Lithium Property ("Nemaska2"), James Bay, Quebec. The focus of the program is to confirm and further delineate pegmatite outcrops mapped and sampled in historical government work programs that will lead into a mid-summer drill program.
The Phase-1 program at Nemaska2 is being carried out by the Company's technical partner Géologica Groupe-Conseil ("Géologica") of Val D'or Quebec.
Spring 2023 Exploration Program
Exploration at Nemaska2 will feature a particular focus on the ~20 white pegmatite outcrops, each approximately 1,000 square metres in size. Particular attention will be applied to discover the possible existence of additional pegmatite dykes or other favorable structures. The Company anticipates this initial program will delineate targets for a mid-summer inaugural drill program.
"We are excited to initiate our Phase-1 of work on the Nemaska2 Property", stated Robert Birmingham, President, and CEO of Brigadier Gold. "This crucial first step of exploration alongside our technical partner Géologica, will help aid us in advancing the property to reaching our objective of launching a drill campaign this season."
Nemaska2 may be one of the most conveniently located properties in the region for access, logistics and infrastructure, which will allow Brigadier to conduct its exploration programs and publish results in an efficient and timely manner.
With the recently closed private placement the Company is fully funded to carryout Phase-1 exploration at Nemaska2.
The Quebec government has previously carried out a large sampling program and also an airborne magnetometric survey over Nemaska2 which shows the presence of several low magnetic anomalies likely corresponding with fractures or shear zones within the granitic Valiquette Pluton. These structures are generally favourable to the formation of pegmatites and other metals. The presence of pegmatites recognized during the regional reconnaissance mapping, anomalous values of Li and Cs in regional till sampling, and the presence of a major lithium deposit (Whabouchi Deposit) in the area, are all elements favourable to the existence of mineralization sought by the Company.
More information can be found in the National Instrument 43-101 technical report filed by the Company under its SEDAR profile on March 14, 2023
On March 20, 2023, the Company entered into a property option agreement (the "Option Agreement") with a private British Columbia corporation (the "Optionor"), to acquire a 100% undivided interest in one hundred and five (105) mining claims, covering approximately 5,300 hectares, located in the Nemaska area of Quebec, approximately 160 kilometres west of James Bay, Quebec (the "Nemaska2 Extension") (see press release dated March 22, 2023).
The Nemaska2 Extension is a continuous extension of the Company's existing Nemaska2 lithium project (see March 17, 2023 Press Release for details) bringing the total land package to 8,300 hectares. The Nemaska2 Extension covers several geological areas, containing Archean pink granite and pegmatite as well several outcrops with similar geology as Pontax Lithium showing with the Formation d'Anatacau-Pivert 1 amphibolitized basalt and amphibolite. The Pontax Lithium showing is located 40km to the west. There are several lithium metal lake bottom sediment anomalies combined with other anomalous critical elements. The geochemical signature is comparable to that observed at Pivert-Rose and Pontax-Lithium, with higher values in the secondary environment.
Under the terms of the Option Agreement, in order to acquire a 100% interest in and to the Nemaska2 Extension, subject to a 2% NSR and Bonus in favor of the Optionor, the Vendor must pay an aggregate of $250,000, including a cash payment of $10,000 within fourteen days of the effective date of the Option Agreement (paid); a cash payment of $40,000 within ninety days of the effective date of the Option Agreement; and cash payments of $100,000 or at the Company's discretion, issuance to the Optionor of shares in the Company with a then equivalent value of $100,000, on each of the first, and second anniversaries of the Effective Date of the Option Agreement. Under the terms of the Option Agreement, the Optionor will receive a one-time payment in the amount of $1 million, in cash or shares of the Company, in the event a report compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") establishes mineral resources valued over $100,000,000 with respect to the Nemaska2 Extension (the "Bonus").
Mr. Garry Clark, P. Geo., a member of the Company's Board of Directors, a "Qualified Person" under NI 43-101, has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.
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.
Forward-Looking Information Cautionary Statement
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements include those relating to the focus of the Phase-1 exploration program, the discovery of additional pegmatites, and target generation for and the timing of future drill programs. The Company 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 the Company's control. Such factors include, among other things: risks and uncertainties relating to Company's ability to complete all payments and expenditures required under its mineral property option agreements; and other risks and uncertainties relating to the actual results of current exploration activities; the possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company's expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); environmental and regulatory requirements; availability of permits, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration industry, and those risks set out in the filings on SEDAR made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Brigadier Gold Limited
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