Vancouver, Canada – TheNewswire – February 13th, 2023 – Arbor Metals Corp. (“Arbor” or the “Company”) (TSXV:ABR), (FWB:432) welcomes the recent announcement by Germany’s Handelsblatt (“Handelsblatt”) business daily that automobile manufacturer Volkswagen is considering setting up a battery cell factory in Ontario.
This follows Volkswagen’s battery subsidiary PowerCo’s decision last year to sign a deal with Umicore as a supplier, with Umicore building a cathode factory outside of Kingston to supply Volkswagen’s future battery cell plant. Both these events represent the need for carmakers to meet the emerging EV demand with local sources of lithium from Ontario and Quebec spodumene deposits poised to supply Canadian-sourced lithium products to these new battery plants. The Company’s Jarnet lithium properties located contiguous to Patriot Battery Metals Inc. (PMET) Corvette-FCI property is well positioned to participate in the hunt for new lithium deposits.
“The U.S.A.‘s northern neighbor (“Canada”) is one of the few countries in the western world that has important battery raw materials such as lithium, nickel or cobalt. In addition, the country is pursuing a consistent sustainability strategy and intends to switch completely to renewable energy in the coming years. Canada is already the third largest producer of hydroelectric power after Brazil and China,” the Handelsblatt report said.
PMET recently announced a significant discovery of 156.9 meters of 2.12 per cent Li2O (lithium oxide), including 25 m of 5.04 per cent Li2O (see PMET news release, Jan. 19, 2023) from the CV-5 pegmatite zone on the Corvette-FCI property. The Company’s Jarnet properties cover multiple pegmatite dikes which the Company’s geological team have identified as similar to the pegmatite dikes on the CV-5 target. The Jarnet property now comprises four claim blocks (South, North and NE) totaling 70 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet South block is less than two km northwest of PMET’s CV-5 pegmatite zone, where an aggressive diamond drill program is in process.
Note: Company management cautions the discoveries and observations on properties in proximity to the Company’s properties are not necessarily indicative of the presence of similar mineralization or geology on the Company’s properties.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
Arbor Metals Corp. is a mining exploration company specializing in the development of high-value, geographic significant mineral projects around the world. As industry leaders, we are paving the way for advanced mineral exploration as we oversee world-class mining projects. We believe quality projects, combined with proven strategies and a professional team will deliver superior results. We hold three exceptional mineral projects.
Jarnet Lithium Project, located in the James Bay Region of Quebec, which comprises of forty-seven map designated claims, covering an area of approximately 3,759 hectares. The Jarnet Project is contiguous to the Corvette-FCI Property, where diamond drilling has confirmed significant lithium mineralization.
On behalf of the Board,
Arbor Metals Corp.
Mark Ferguson, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the Jarnet Lithium Project, the assessment of samples from that Project, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.