Vision Lithium up 16% on Quebec sampling results

Vision Lithium up 16% on Quebec sampling results
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VANCOUVER – Vision Lithium Inc. [VLI-TSXV, ABEPF-OTCQB, 1AJ2-FSE] shares rallied in active trading Thursday after the company reported initial high grade lithium exploration results from its recently acquired Cadillac property in Quebec.

Results released Thursday include assays from surface channel sampling and completion of two geophysical surveys.

The Cadillac property consists of 320 claims covering 18,378 hectares and is located 10 kilometres south of the town of Cadillac, approximately half way between Rouyn-Noranda and Val-d’Or.

Vision said the Cadillac property hosts at least four known spodumene-bearing pegmatite dikes, which are spaced approximately 100 metres apart and traced for at least 300 metres east-west along strike.

Since acquiring the property, the company has acquired permits for 1,500 metres of drilling on a lithium occurrence that has never previously been drilled.

The company has also sampled and assayed 21 separate short channel samples across the main outcropping “B” dike over a strike length of 300 metres. It has received results for 15 channels over 65 metres of strike length at the western end of the outcrops.

It said 10 of the 29 samples assayed were above 1.00% Li20 with a high of 4.80% Li20 over 1.00 metre.

The shares advanced on the news, jumping 16% or $0.03 to 22 cents on volume of 1.43 million. The shares are currently trading in a 52-week range of 95 cents and $0.03.

“These first assay results confirm the widespread occurrence of spodumene along 65 metres of the most western section of the B dike with high grades of 3.98% and 3.93% at the extremity of the outcrop where the dike disappears under cover,’’ said Vision President and CEO Yves Rougerie.

“Another 235 metres of B dike to the east was channel sampled as well and results from these are expected in January, 2022,’’ he said.

“Based on these early results, we can see the strong potential of the cluster of dikes in this area of the property. Spodumene has been observed in all the outcropping dikes and we also believe there are likely more dikes in the cluster.’’

The company expects to begin drilling in January to initially test the B dike over its 300-metre exposed length. “We plan to aggressively explore the property over the winter by drilling the main cluster of dikes and are planning for an exhaustive field exploration season next summer over our very large tract of land.,’’ Rougerie said.

Investor interest in the lithium sector is tied to the fact that the soft white metal is a key ingredient in the production lithium-ion batteries which are used in small electronic devices, including smart phones, laptops, and electric vehicles.

It is widely anticipated that demand for the vehicle battery metal will increase sharply over the next several years as automakers shift their focus away from internal combustion engines to electric vehicles.

Brines (in salt ponds) and spodumene (hard rock) represent the two main sources of commercial lithium production.

 

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