Kootenay Lithium Property

Lithium is a rare metal whose value has been increasing in recent years primarily due to growing demand for its use in the battery sector for applications such as electric vehicles. Rare metal lithium-cesium- tantalum (LCT) pegmatites are an important source of rare and strategic elements and account for about one-third of world lithium production, most of the tantalum production, and all of the cesium production (U.S. Geological Survey, 2011). Pegmatites within the Canadian Cordillera have been largely overlooked as a potential source of these rare metals, but re-assessment of select areas is underway.

The Kootenay Lithium Project (‘Project’) consists of the Begbie and Boulder properties located near Revelstoke in southeast British Columbia. The two properties are controlled by First Energy Metals Ltd. (“First Energy”, formerly Agave Silver Corporation, “Agave”), subject to a purchase agreement dated October 7, 2016, between First Energy and property owners Lloyd Addie, John Mirko and Graeme Haines. The Begbie property consists of 20 contiguous mineral claims that cover 1,732.85 hectares near Mount Begbie and is centered approximately 10 km south of Revelstoke. The Boulder property consists of 30 contiguous mineral claims that cover 2,278.12 hectares, including Boulder Mountain, and is centered approximately 10 kilometres west of Revelstoke.

Granitic pegmatite bodies of the rare metal LCT (lithium-cesium-tantalum) variety occur on both properties and are the principal deposit type of interest to First Energy. Grab samples collected from several of the more fractionated LCT pegmatites on the Project returned grades ranging from 0.36% Li (or 0.77% Li2O), 1078.7 ppm Rb and 268.3 ppm Cs at the WM pegmatite, Begbie property, to 1.72% Li (or 3.70% Li2O) >2000 ppm Rb and 1244 ppm Cs at the Prof pegmatite, Boulder property; these pegmatites are also carry anomalous levels of beryllium, niobium and tantalum that require further exploraiton. The pegmatites have been the subject of limited, sporadic prospecting for gemstones, but have not been explored systematically. No drilling has been conducted on the Property.

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