SURFACE CHIP SAMPLES OF UP TO 3.78% LI2O CONFIRMS NEW LITHIUM BEARING PEGMATITE DISCOVERY AT SHERRITT GORDON
Rock chip sampling identifies new spodumene occurrences
- Initial phase of rock chip sampling at Sherritt Gordon records values of up to 3.78% Li2
- Mineralisation hosted by a spodumene-bearing pegmatite swarm that has been defined third pegmatite “Grass River”
- The host pegmatites are fresh from surface with no significant depletion of lithium.
- Significant upside potential due to the lack of previous lithium exploration in the area and the strategic land position secured by Snow Lake along strike.
Initial drilling of Grass River planned by Snow Lake Resources for late 2018/early 2019
Progressive Planet is a large shareholder of Snow Lake Resources.
NOVEMBER 26, 2018, VANCOUVER, B.C. – PROGRESSIVE PLANET SOLUTIONS INC. (PLAN-TSX:V) (“Progressive Planet”, “PLAN” or the “Company”)is pleased to announce that initial reconnaissance rock chip sampling at Snow Lake Resources Sherritt Gordon has recorded new occurrences of higher grade lithium mineralisation (>1.5% Li2O/Figure 1) over an extensive area, with results including:
- SG1802 = 78 % Li20 -Grass River Pegmatite
- SG1804 = 15 %Li20 – SG – Pegmatite
Following Nova’s discovery (ASX Release 28 August 2018) as part of compilation work of historical data, the SNOW (Snow Lake Resources) team have discovered details on a cluster of spodumene-bearing pegmatite dykes located about 2 km southwest of the recently drilled Thomson Brothers pegmatite (Figure 1).
This cluster, known as the Sherritt Gordon (SG) pegmatites, intrudes the outermost quartz diorite phase of the Rex Lake Pluton and was traced about 600 m along strike (Figure 2) by Sherritt Gordon Mines in the 1940s. Dyke SG-1 ranges from 1.5 to 5 m in width and dips 80o to the southwest. Dyke SG-2 is thinner and located about 70 m to the northeast of SG-1 and dips 50o – 70o southwest.
In 1942, the SG-1 pegmatite was drill tested by Sherritt Gordon, and a total of twenty-one shallow drill holes totaling 608 m were completed at angles of -35o with a azimuths of 028o (Figure 3). Rather than reporting assays for Li2O, results in the historical drill logs are reported in “Gravitational Determination Percent Spodumene”. This historical drilling yielded average spodumene contents ranging from 7.22 – 31.9 percent over widths ranging from 1.52 – 5.79 m core length (Table 1). The data contained within Table 1 is a recalculation of percent spodumene from data obtained in the 1942 drill logs. Data for hole SG-08 was not available within the drill log data file.
SG and Grass River pegmatites remain open along strike in both directions and at depth. Dyke SG-2 was never drilled historically. The SG pegmatites are interpreted to have intruded late stage, sub parallel en-echelon, dilatational fractures. If both dykes are projected to depth they could merge or intersect at a depth of approximately 160 m.
Snow Lake Resources intends a follow up drilling program to evaluate the SG-1, 2 and Grass River pegmatites which could contribute to increasing the overall resource inventory of the Thompson Brothers Lithium Project.
Figure 1: Map showing pegmatite locations and rock chip samples
“We are committed to assisting Snow Lake Resources with their goal of fast tracking development of the Thompson Brothers Lithium Project. As a significant shareholder, we are excited to watch this new Sheritt Gordon Zone be systematically explored by Snow Lake in an effort to increase the tonnage of the Thompson Brothers Lithium Project” stated Steve Harpur, CEO of Progressive Planet.
The technical content of this news release has been reviewed and approved by Dwayne Melrose, P. Geo., a Director of Progressive Planet and a qualified person as defined in NI 43‐101 and is a member of the Association of Professional Engineers and Geoscientists of British Columbia.
Progressive Planet is a Canadian based mineral exploration company with a flagship zeolite mine in British Columbia, and a graphite property in Buckingham, Quebec.
ON BEHALF OF THE BOARD
Signed “Stephen Harpur”
Stephen Harpur, CPA, CGA
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Progressive Planet Solutions Inc. Actual results may differ materially from those currently anticipated in such statements. 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.