VANCOUVER, British Columbia, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Tearlach Resources Limited (TSXV: TEA) (OTC: TELHF) (FRANKFURT: V44) (“Tearlach” or the “Company”) is very pleased to report the results from the duplicate assay program initiated, during the due diligence period, prior to signing the JV agreement on the Gabriel Property (formerly known as the North Tonopah Project) with Blackrock Silver (TSX: BRC) on 12 January 2023. The re-assaying efforts by the Company indicate lithium grades that average 28% higher than original assays across 57 samples collected by Tearlach’s world-class Reno-based exploration team with significant lithium expertise. The highest sample reported 62% higher lithium grade.

Highlights:

• Duplicate sample average assay results are 28% higher in lithium grade across 57 samples, as compared to the original assay,

• Individual duplicate assays are higher than the corresponding original assays over a range of +12.6% to 62%.

• TN22-020 Interval 260-265 feet, 61.9% increase
  • Original Assay, 457.1ppm Li
  • Duplicate Assay, 740ppm Li
• TN22-006 from 205-210 feet, 49.1% Increase
  • Original Assay 851.9 ppm Li
  • Duplicate Assay, 1270ppm Li
• TN22-018 Interval 220- 225 feet, 19.9% increase
  • Original Assay, 967.8ppm Li
  • Duplicate Assay, 1160 ppm Li

• Potential size increase to the discovery due to grade increase and cutoff change.

• Clear path to drilling and expansion.

• World-class Nevada based Exploration team with over 200 years of combined experience and significant experience in clay hosted lithium deposits.

Morgan Lekstrom, CEO of Tearlach, commented, “These improved assays not only confirm the discovery that BRC made but expands the cut-off mineralized area significantly. This analysis indicates a possible increase in lithium grade for the Gabriel property and comes from a highly experienced team with a deep understanding of clay lithium exploration and assay methods. More proof that having a team of experts that have been involved in clay lithium for decades has already proven invaluable to give us an exploration advantage. Our team has drilled multiple lithium clay deposits around the world and will continue to aggressively lead the charge. We are currently applying for drill permits and anticipate drilling to commence in short order.”

Path Forward:

• Submit Drill Permits within a week
• Prescreened drill contractor, working on engagement
• Drill a large 20-hole PQ Core drill program, including step outs and confirmation drilling
• Run Concurrent engineering and metallurgical paths.

Figure 1: The Gabriel Project in Nye County, Tonopah, Nevada
Tearlach Resources has not verified the American Lithium results and credits American Lithium News Release Jan 16^th, 2023 as the source of these. UTM NAD83 Zone 11

Technical Information:
Tearlach’s Nevada lithium exploration team, operating through Pan Am Lithium (Nevada) Corp. (PALN, a wholly-owned Nevada Corporation subsidiary) selected coarse rejects for 57 Blackrock lithium-mineralized rotary drill intervals to analyze for duplicate assay. These samples were analyzed, using methods similar to the original assay, by a second highly regarded laboratory.

Quality Control:
The samples were selected by the PALN geologic team, and transported to Reno, Nevada, maintaining the chain of custody.

The 57 samples were analyzed to obtain duplicate assay results according to the following procedures:

• A 200-gram split of the coarse rejects were crushed by the original assay laboratory and returned to the PALN explorationists. The coarse rejects were then transported to the second lab for re-assay.
• The duplicate assaying was conducted by an ALS Geochemistry facility located in Reno, NV. This facility holds an ISO 17025 certification.
• The crushed split was submitted to the 2nd laboratory for analysis according to the following procedures:
  • Pulverized the submitted crushed sample to 85% passing 75 microns grain size.
  • Split a 0.25-gram sample of the pulverized material for analysis.
  • Digested the pulp split by four (4) acids with an ICP finish, which slightly varied from the original laboratory method.
  • Also analyzed the samples for boron (B) content using an Aqua Regia digestion with ICP-AES finish.
    • The PALN geologists inserted five (5) lithium certified reference pulps, plus blank value pulps (also 5 samples) into the pulp sample set.

This duplicate assay process was overseen by two (2) PALN geologists who are Qualified Persons according to NI 43-101. David C. Flint is a CPG with AIPG (#10360), and Robert J. Kellie is a registered member with SME (#4026171).

Re-assay Results:
The comparison of the duplicate assays to the original assays indicates the following:

• All duplicate assays are higher than the original assays.
• The duplicate assays, on average, are 28% higher than the original assays.
• Individual duplicate assays are higher than the corresponding original assays over a range of +12.6% to 62%.
• Thirteen (13) of the duplicate assays have reported values greater than 900 ppm, of which three (3) assays are greater than 1,000 ppm.
• The certified reference lithium samples inserted into the duplicate sample stream yielded acceptable values.
• Blank samples inserted into the check sample stream yielded extremely low to nil lithium values.
• A strict chain of custody was maintained during the duplicate assay program.
  

The results from the duplicate assay program indicates potential additional opportunity for exploring the Gabriel Lithium Property. The PALN technical team intends to conduct exploration activities in a manner such that highly representative samples are collected, and that the samples are analyzed by the most precise and accurate methods.

Table 1. Comparison of original and duplicate assays for RC drill samples from Gabriel Project

Table 2. Drill hole collar location for samples in this press release

Qualified Person:

Mr. David C. Flint, CPG with AIPG (American Institute of Professional Geologists), Director of Tearlach’s subsidiary Pan Am Lithium (Nevada) Corp, and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

January 12, 2023 News and Disclosure Correction

The Company wishes to correct certain payment disclosures it made in its news release dated January 12, 2023 regarding its option to acquire a 100% interest in six mineral claims groups collectively referred to as the Shelby Properties.

Under the “Transaction” heading in the news release, the Company inadvertently disclosed it was obligated to make cash payments and share issuances of $545,454.54 for each of the six mineral claims groups. However, pursuant to the terms of the agreement, the Company is obligated to pay $90,909.09 for each of the six mineral claims groups for a total of $545,454.54 for all Shelby Properties. This payment is required to be paid upon signing the agreement and upon the first, second and third anniversaries of the agreement, unless the Company elects to duly abandon such claim groups, in which case the amount payable is reduced by $90,909.09 per claim group duly abandoned.  Accordingly, the table setting out the consideration payable in the January 12th news release should not be relied upon

About Tearlach

Tearlach is a Canadian exploration company engaged in the acquisition, exploration and development of lithium projects. Tearlach has a Joint Venture agreement with Blackrock Silver on the Gabriel project in Tonopah, Nevada, bordering American Lithium’s TLC Deposit, and is aggressively exploring the previously drilled lithium targets. Tearlach holds an interest in the Final Frontier Project, which includes the Pakwan / Margot Lake Claim block, and is directly contiguous with Frontier Lithium’s Flagship Spark and Pak deposits, as well as interests in the Wesley, Harth and Ferland properties, all located in the lithium hub of northwestern Ontario, Canada. The Wesley Property borders Green Energy Metals’ Root Lake Project, where a 24,000 m drill program is currently underway. Pegmatite dykes have also been encountered on the Harth Lithium Project, which is 8 km west of the Wesley Lithium Project. Tearlach intends to explore these assets and develop a portfolio of projects in North America through acquisition. Tearlach also holds “The Shelby Project” properties in Quebec’s James Bay Region bordering Windsome Resources and Patriot Battery Metals. Tearlach’s primary objective is to position itself as the leading lithium exploration and development company in North America. Additional information on the Company is available at the website at www.tearlach.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

Morgan Lekstrom
Chief Executive Officer

TEARLACH RESOURCES LTD.

Suite 610 - 700 W. Pender Street
Vancouver, BC, Canada V6C 1G8
Tel: 604-688-5007

www.tearlach.ca

www.tearlach.ca/contact/

Neither the TSX Venture Exchange nor its Regulation Service provided (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 Statement

This news release may contain certain “forward-looking statements” such as the intention to focus on the exploration and development of lithium properties in the future. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5c4b7ff2-f640-47af-b91a-bcd569bdac94