Augustus Lithium Property

HIGHLIGHTS

  • Excellent infrastructure support with road network, railway, electricity, water, and trained manpower available locally.
  • Located in an active lithium exploration/mining area with over 50 million tonnes of hard rock lithium resource, several lithium projects in the vicinity.
  • Geologically similar to Sayona Mining’s Authier Lithium project and Mine Quebec Lithium project located 6-12 km away.
  • The Augustus Property has documented historical drilling over 10,000m in 62 drill holes which is worth over $2 million in present day exploration expenditures.
  • Two prominent lithium and one silver prospects located on the Property.
  • Augustus prospect has a potential high grade lithium resource target of 4 million tonnes at 1% lithium oxide (Li2O).
  • Canadian Lithium prospect has a potential for large volume low grade bulk tonnage near surface.
  • Two phase exploration work program includes: data compilation, geological mapping, trenching and sampling in Phase 1 (estimated cost $191,418); diamond drilling, metallurgical testing and resource estimation in Phase 2 (estimated cost $1,166,963).

INTRODUCTION

First Energy Metals Ltd. has optioned a promising lithium exploration property located in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of three non-contiguous claim groups representing a total approximate area of 927.07 hectares located 40 kilometres northwest of the mining town of Val d’Or on map sheet 32C/05 (Figure 1). It has excellent infrastructure support with road network, railway, electricity, water, and trained manpower available locally.

The Property is located in a very active hard rock lithium pegmatite area. There are several historical and currently active lithium and molybdenum prospects/mines located approximately 3 km to 20 km from the Property. Some of the important prospects/mines are: Mine Quebec Lithium, which was formerly owned by RB Energy, Authier Lithium owned by Sayona Mining of Australia, Valor Lithium, Duval Lithium, Lacorne Lithium, International Lithium, Vallee Lithium, and Moly Hill Mine. All these projects / prospects are at various stages of exploration and development, out of which Mine Quebec Lithium is the most advanced project followed by Authier lithium project. Total lithium resources for this region are over 50 million tonnes at 1% lithium oxide out of which Mine Quebec Lithium 32 MT at 1.19% Li2O Measured plus Indicated (M+I), Authier 17.18 million tonnes at 1.01% Li2O (M+I) are the most significant.

GEOLOGY AND MINERALIZATION

The geology and the mineralization of the Augustus Property are similar to the geology and mineralization of Quebec Lithium mine located approximately 6 kilometers to the southeast of the Property. Geologically the Preissac-Lacorne area lies within a belt of volcanic and sedimentary rocks intruded to the north by LaMotte batholiths and to the south by the Preissac batholiths and Moly Hill pluton.

There are two prominent lithium prospects (Augustus and Canadian Lithium) and one silver prospect on the property which have been explored intermittently sine 1948.

  • Augustus Lithium Prospect
  • Canadian Lithium Prospect
  • Landrienne Sud Silver Project

Highlights of these prospects are discussed below and the Company is in the process of compiling data on these prospects to develop an exploration and development program.

Augustus Lithium Prospect

  • The Augustus lithium pegmatite was explored in 1955 by trenching followed by diamond drilling. The host pegmatite is oriented N30°W, extending more than 850 meters along strike with 7.6 meters in average width. Its depth extension is not fully known yet, however previous drilling has intersected high-grade lithium down to 200 m. Lithium mineralization is confined to the pegmatite body with an average grade of 1.12% lithium oxide (Li2O) (0.52% Li) across a width of 7.6. meters (Source: Géologie Québec - Results of the query (gouv.qc.ca)). There are 18 documented historical drill holes completed since the 1950s’ on this prospect with a cumulative drilling of 3,626m. These holes have drilled depth range of 109m to 366m and intersected several high-grade lithium pegmatite intercepts.
  • The highlights of the previous drilling results include:1.69% Li2O over 9 feet (2.74m), 1.25% Li2O over 27.5 feet (8.38m), 1.07% Li2O over 20 feet (6.1m), 1.66% Li2O over 12.5 feet (3.8m), and 1.41% Li2O over 27 feet (8.23m) (see Table 1 below) (Source Report GM03952).
  • Based on the 1955 drilling results, the continuity of lithium mineralization is established between all drill holes for over 850 meters strike length down to a depth of 207 m (682 feet) of the Augustus pegmatite body (see Table 1 below). If mineralization continuity can be proven by future drilling down to over 200 meters level as shown in historical drill hole results, a potential resource target of 4 million tonnes at 1% Li2O can be achieved.

Cautionary Statement: Investors are cautioned that the potential quantity and grade mentioned above is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential target is based upon historical drilling results taken from report GM03952 (April 27, 1956) and other sources from MRNF Quebec.

Table 1: The 1955 highlights of the Augustus prospect diamond drilling (From Report # GM 03952)

Historical Hole ID Core Sample width
(Feet)
Li2O
%
Depth of intersection
(feet)
CL-69 9 1.69 199’
CL-69 26.5 0.72 238’
CL-70 7.0 1.16 18’
CL-70 13.0 0.86 250.5
CL-70 21 1.01 304
CL-71 27.5 1.25 297.5’
CL-74 20 1.07 682’
CL-75 9.5 1.08 560’
CL-75 16.5 1.58 583.5
CL-80X 12.5 1.66 141.5’
CL-80X 27 1.41 294.3’

Note: Core length is not converted to actual width

Canadian Lithium Prospect

  • The Canadian lithium prospect is a worked deposit located in Range 1 lot 25-26 in the Landrienne Township at G.P.S 284861 E - 5368288 N. The main outcrop was discovered in 1948 near the boundary line separating the Landrienne and Lacorne Townships. A group of parallel pegmatite dykes associated with Lacorne Batholith contains aggregates of spodumene, lepidolite, quartz and feldspar accompanied by traces of beryl, clevelandite, colombo-tantalite.
  • Drilling at the prospect have shown low grade lithium bearing pegmatite intersections of extensive widths. A total of 14 historical drill holes are located on this prospect having drilled depths in the range of 26m to 184m and a cumulative drilling of 944m. Drill hole CL-39 (GM 03952) returned a grade of 0.59% over 2.9 m Li. It has been estimated that a section of 90.0 m by 30.0 m contains 5.0 to 10.0% lithium bearing spodumene. (Source Reports GM03952 and GM00744). This deposit represents a potential for low grade bulk tonnage of lithium pegmatite material.
  • The highlights of historical drilling program are: 0.59% Li2O over 84.4 feet, 0.15% Li2O over 282 feet, 0.158% Li2O over 204.4 feet, 0.19% Li2O over 232.7 feet and 0.105% Li2O over 296.3 feet. Drilling results have proved lithium mineralization and grade continuity along the strike length (350 meters) of the pegmatite dyke.

Table 2: Highlights of historical drill holes on the Canadian Lithium prospect (From Report # GM 03952)

Hole number Core Sample width
(Feet)
Li2O
%
prospect
CL-39 84.4 0.59 Canadian Lithium
CL-44 282 0.15 Canadian Lithium
CL-50 204.4 0.158 Canadian Lithium
CL-52 115.4 0.21 Canadian Lithium
CL-53 232.7 0.19 Canadian Lithium
CL-54 296.3 1.39 Canadian Lithium
CL-60X 63.1 0.138 Canadian Lithium

Landrienne Silver Prospect

  • Silver mineralization occurs in quartz and carbonate veins intersecting felsic to mafic lavas and locally in massive sulphides. These volcanics belong to the Landrienne Formation. The mineralization is mainly in the form of sulphides (pyrite, chalcopyrite, pyrrhotite) disseminated in quartz and carbonate veins and also locally in the form of lenses of massive sulphides.
  • Historical drilling documented for this prospect comprised of 30 drill holes over 6,000 m cumulative drilling.
  • Report GM 02989-B: the best results obtained from the holes drilled in 1954 are 10.3 ppm silver over 0.8 meters, 11.7 ppm silver over 0.6 meters, 8.6 ppm silver over 0.6 meters, 9.6 ppm d silver over 0.6 meters, 2000 ppm copper over 1.5 meters, 1000 ppm copper over 0.6 meters, 8.6 ppm silver over 0.6 meters. GM 28244: a drilling carried out in 1972 returned 2000 ppm of copper over 2.6 meters. GM 66408: a selected sample yielded 36.8% iron.

Cautionary Statement: Investors are cautioned that the above information and the information on the adjacent properties is taken from the publicly available sources. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization on the Property, which is the subject of this report. The Company will need to conduct exploration to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts. The Company is in the process of compiling exploration and geological data available on the property and surrounding area to develop an exploration work plan.

Figure 1: Property location

Figure 2: Historical drill holes on Augustus Prospect

 

Figure 3: Historical drill holes on Canadian Lithium Pegmatite Prospect

 


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