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Vancouver, B.C. (March 13, 2023)FE Battery Metals Corp. (CSE: FE) (OTCQB: FEMFF) (“FE Battery Metals” or the “Company) is pleased to announce results of Drill Holes LC23-43 and LC23-44 from the 2023 exploratory drill program at its Augustus Lithium Property in Quebec, Canada. The drill hole LC23-44 intersected 6.9-metre-wide pegmatite at 1.07 percent lithium oxide (Li2O) at 98.5 m drilled depth, and LC23-43 intersected multiple lithium pegmatites with varying widths and grades (see Tables 1 and 2 for details).

Highlights

  • The main lithium pegmatite zone in Hole LC23-44 is 6.9 m wide with average 4,977.50 parts per million (ppm) lithium (Li) or 1.07% Li2O at 98.5 m drilled depth. There are anomalous values of other rare metals in this section with average 185.13 parts per million beryllium (Be), 222.53 ppm cesium (Cs), 46.50 ppm niobium (Nb), 1,011.43 ppm rubidium (Rb) and 90.05 ppm tantalum (Ta).
  • Drill Hole LC23-43 intersected four main lithium pegmatites as follows (Table 2):
    • Pegmatite 1 with average 1,950.60 ppm Li or 0.42% Li2O over 5 meters at 152 m drilled depth.
    • Pegmatite 2 with average 1,870.71 ppm Li or 0.40% Li2O over 6 meters at 169 m drilled depth.
    • Pegmatite 3 with average 665.50 ppm Li or 0.14% Li2O over 3 meters at 196 m drilled depth.
    • Pegmatite 4 with average 536 ppm Li or 0.12% Li2O over 3 meters at 249 m drilled depth.
    • All pegmatites have anomalous values of other rare metals.
  • Drill hole LC23-43 was drilled at location 5367916 N, 287279E, UTM NAD 1983 Zone 18N, at azimuth 219.7 degrees and dip -47.3 with a drilled depth of 252 m. The drill hole was placed at the main Augustus zone.
  • Drill hole LC23-44 was drilled at location 5367892N, 287156E, UTM NAD 1983 Zone 18N, at azimuth 227.2 degrees and dip -56.7 with a drilled depth of 196 m. The drill hole was placed at the main Augustus zone.

The drill program is based on the historical and 2021-22 exploration data. The Drill program is contracted to Forage Hebert Inc. Drilling of Amos, Quebec. A B-20 drill rig is deployed for this work. A core shack is built at the village of St-Dominique du Rosaire located about 50km from the Property for drill core logging, sample preparation and storage. To date, a total of 51 drill holes with a cumulative core drilling of over 9,500 m has been completed on the Property. The drill core is logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks are being inserted at industry standard intervals.

The samples were bagged and tagged using best practices and were delivered to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses using laboratory code Ultratrace 7 and sodium peroxide fusion (Na2O2) as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.

Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS
Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.

ICP-MS
Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.

ICP-OES
Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/lithogeochemistry-and-whole-rock-analysis/peroxide-total-fusion/

Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About FE Battery Metals Corp
FE Battery Metals Corp is focused on identifying, exploring and advancing early-stage lithium pegmatite projects in Canada. The Company’s primary efforts have been on exploration projects located in Quebec, with its flagship property being the Augustus Lithium Property. Augustus is located in the immediate vicinity of Val d’Or Quebec where several historical prospects and a previously active lithium mine is located within a 10km radius from the property. North American Lithium mine (NAL) and the Authier Project are two notable projects in the area that highlight the potential of the Augustus Lithium Property.

ON BEHALF OF THE BOARD OF

FE BATTERY METALS CORP

“Gurminder Sangha”
Gurminder Sangha
CEO & Director
For further information, please contact the Company at gsangha@febatterymetals.com or (604) 375-6005

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-looking Information 

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Table 1: Drill Hole LC23-44 Sample assays highlights

Analyte Symbol Depth
From
Depth To Total Li Li2O Be Cs Fe Nb Rb Ta
Unit Symbol m m m ppm % ppm ppm % ppm ppm ppm
Detection Limit       15   3 0.1 0.05 2.4 0.4 0.2
Analysis Method       FUS-MS-Na2O2
1158052 97.5 98.5 1 443 0.10 14 281 6.75 2.8 640 1
1158053 98.5 99.5 1 940 0.20 297 249 0.91 62.2 1420 115
1158054 99.5 100.5 1 6840 1.47 300 77.1 0.33 47.7 1270 70
1158055 100.5 101.59 1.09 7150 1.54 172 46.8 1.04 52.7 507 81.3
1158056 101.59 102.11 0.52 4740 1.02 60 1170 5.41 18 > 5000 41.1
1158057 102.11 103 0.89 6980 1.50 206 67.4 0.42 59 1710 124
1158058 103 104 1 6940 1.49 174 59 0.21 58.1 1320 118
1158059 104 104.4 0.4 4730 1.02 263 43.8 0.89 63.7 460 153
1158061 104.4 105.4 1 1500 0.32 9 67.1 4.45 10.6 393 18
Total / Average 98.50 105.40 6.90 4,977.50 1.07 185.13 222.53 1.71 46.50 1,011.43 90.05
1158062 159.66 160.17 0.51 822 0.18 18 139 5.06 7.9 580 2
1158063 160.17 161 0.83 293 0.06 295 65.3 1.04 113.4 339 69.2
1158064 161 162 1 273 0.06 246 33.4 0.81 66.3 317 52.3
1158065 162 162.5 0.5 925 0.20 119 176 5.3 11.5 785 2.4

Note: A standard conversion factor of 2.15 was used to report Li to Li2O values
All intersections reported are based on drilled width and have not been converted to the true width.

Table 2: Drill Hole LC23-43 Sample assays highlights

Analyte Symbol Depth
From
Depth
To
Total Li Li2O Be Cs Fe Nb Rb Ta
Unit Symbol m m m ppm % ppm ppm % ppm ppm ppm
Detection Limit       15   3 0.1 0.05 2.4 0.4 0.2
Analysis Method       FUS-Na2O2
1158027 133 134 1 1130 0.24 50 253 4.5 17.5 765 28.6
1158028 145 146 1 1070 0.23 73 791 3.91 12.3 2020 13.6
1158029 146 147 1 403 0.09 240 119 1.79 33 281 53
Pegmatite 1
1158031 152 153 1 2190 0.47 24 267 5.36 10.1 554 4.6
1158032 153 154 1 3450 0.74 98 66.5 0.71 94.4 2050 49.8
1158033 154 155 1 1320 0.28 182 39.7 0.41 112.5 1070 59.4
1158034 155 155.73 0.73 793 0.17 92 26.1 1.12 120.6 746 80.3
1158035 155.73 157 1.27 2000 0.43 5 249 5.79 7.3 421 1
Total / Average 152.00 157.00 5.00 1,950.60 0.42 80.20 129.66 2.68 68.98 968.20 39.02
Pegmatite 2
1158036 169 170 1 1380 0.30 < 3 55.9 4.46 7.7 329 2.8
1158037 170 170.7 0.7 741 0.16 99 29.3 0.53 79.4 1260 36
1158038 170.7 171.3 0.6 454 0.10 4 36.2 1.85 8.6 277 1.1
1158039 171.3 172.2 0.9 1540 0.33 23 193 3.16 7.7 826 4.5
1158041 172.2 173 0.8 3460 0.74 156 228 1.37 63.1 988 79
1158042 173 174 1 3220 0.69 165 1020 5.68 45.9 3910 16
1158043 174 175 1 2300 0.49 70 500 4.38 52.8 2400 21.4
Total / Average 169.00 175.00 6.00 1,870.71 0.40 86.17 294.63 3.06 37.89 1,427.14 22.97
Pegmatite 3
1158044 196 196.5 0.5 1040 0.22 24 189 6.02 18.4 596 3
1158045 196.5 197.2 0.7 818 0.18 71 139 1.71 50 510 19.9
1158046 197.2 198 0.8 224 0.05 62 47.7 2.12 11 155 7
1158047 198 199 1 580 0.12 16 82.5 5.12 8.9 278 2.3
Total / Average 196.00 199.00 3.00 665.50 0.14 43.25 114.55 3.74 22.08 384.75 8.05
Pegmatite 4
1158048 249 249.68 0.68 872 0.19 10 166 1.92 11 965 5
1158049 249.68 251.07 1.39 52 0.01 24 30.1 0.37 97.2 1740 50
1158051 251.07 252 0.93 684 0.15 86 149 1.84 39 1500 42.5
Total / Average 249.00 252.00 3.00 536.00 0.12 40.00 115.03 1.38 49.07 1,401.67 32.50

Note: A standard conversion factor of 2.15 was used to report Li to Li2O values
All intersections reported are based on drilled width and have not been converted to the true width.


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