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Hertz Lithium Inc. (CSE: HZ) (OTC Pink: HZLIF) (FSE: QE2) (the "Company"), a Company focused on lithium exploration and novel extraction technologies, is pleased to provide an update on the field exploration activities that commenced on May 2, 2023, at its Lucky Mica Property (the "Property") in Maricopa County in Arizona, USA.
To date the field team has completed general prospecting, mapping and sampling of pegmatite outcrops and structural mapping on the Property. The team has identified an abundance of 'new' previously unmapped and sampled pegmatites in three clusters as shown in Figure 1 below. These pegmatites are described to occur as 2-6m wide bodies potentially up to 50-100m long and appear to occur conformant with the local metamorphic foliation and may vary in dip from shallow to steeply dipping. The predominant quartz, feldspar pegmatites are more resistant to erosion and weathering and are frequently exposed along ridgelines, and within creek beds, and the identified pegmatites appear to be hosted within weathered greenstone locally mapped as amphibolite (Figure 2). The pegmatitic mineralogy is generally consistent with the lepidolite and spodumene bearing pegmatite identified in the Lucky Mica region on the Property which have returned results up to 7.5% Li2O.
A total of approximately 250 samples have been collected from these clusters and an additional 100 will be collected on the Property before the team leaves the field next week. All samples with be delivered to SGS Laboratories in Phoenix, AZ for analysis with results expected in 6-8 weeks.
Figure 1: Mapped pegmatitic showings predominantly E-W striking (50-100m long, approx. 5m wide) and typically comprising a dominant quartz + feldspar + mica mineralogy with few Li-bearing minerals identified.
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Figure 2: Typical exposed pegmatite outcrop - dominantly quartz + feldspar + muscovite, within weathered amphibolite schist.
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Ongoing Remote Sensing, geophysical analysis and lithostructrual interpretation are expected to proceed over the next 6-8 weeks with delivery of the results to coincide with the returned analytical results of the approximate 350 samples collected in May. This data acquisition, processing and geological interpretations over the Property will be completed by Axiom Geophysics and Remote Sensing (www.axiomgeophysics.com) prior to the follow up trenching phase this fall. The results of these various exploration methods will be compiled and utilized in the strategic development of the trenching program both in the known Lucky Mica area as well as within the regions of the 3 newly discovered pegmatite clusters. Additional prospecting and sampling will be conducted within priority zones to further determine a broader geochemical understanding of the Property.
Qualified Person: Luke van der Meer (P.Geo), a consultant to the Company, is a Qualified Person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical information in this news release. Historical information contained in this news release is derived from previous workers previous reports and has not been field verified.
For more information about the Property and the recommended work program, see the technical report prepared by Lee R. Beasley, CPG, MSc, titled "NI 43-101 Technical Report, Lucky Mica Project, Arizona," with an effective date of November 8, 2022, as filed on the Company's profile on www.sedar.com.
JAMES BAY, QUEBEC LITHIUM EXPLORATION PROGRAMS HALTED DUE TO FIRE DANGER
Hertz Lithium sympathizes with the current fire danger around all of Canada and in the James Bay Region of Quebec and respects the Quebec Governments mandate to cease all mineral exploration activities in the province until the fire danger subsides. Furthermore, Hertz management respects decisions by James Bay Lithium exploration companies which include Patriot Battery Metals at their Corvette Lithium Discovery, Winsome Resources at their Adina Lithium Discovery and early-stage explorers Q2 Metals Corp, Ophir Gold, Champion Electric as well companies funded by Hertz Lithium's strategic investor Coloured Ties Capital (TIE) to halt all exploration programs until the fire danger has been mitigated. Coloured Ties associated lithium companies active in the James Bay lithium exploration include Superior Mining International and private companies, Canuck Lithium, Quebec Pegmatite and Agastya Minerals.
Management is hopeful that weather conditions will quickly change, and rain will mitigate the fire danger in the coming days and weeks, but the fact remains the lithium prospects in James Bay Region are going to remain very strong and survive any fire danger time periods.
About Hertz Lithium Inc.
The Company is a British Columbia based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company's lithium exploration project, the Lucky Mica Project, is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA. The Company is also working with Penn State University's College of Earth and Mineral Science department to develop a novel lithium extraction technology.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedar.com.
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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