VANCOUVER, BC, Oct. 1, 2021 /CNW/ - Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FSE: WR20) (OTC PINK: WALRF) (the "Company" or "Megawatt") is pleased to announce that it has contracted Orix Geoscience of Toronto, Ontario ("Orix") for an airborne drone survey at the Route 381 Lithium project in the James Bay, Quebec. The project is comprised of 40 mineral claims covering 2,126 hectares located in James Bay Territory, north of Matagami. The Route 381 Lithium Property is located directly west of and adjacent to Stria Lithium Inc.'s Pontax-Lithium project.
Orix will fly over the entire property with the objective of identifying and mapping the wider sections of dykes on the property which are prospective for lithium. In this way the airborne survey is intended to identify additional prospective areas for follow up sampling. This large property is of a size that the sampling program completed in August of this year investigated under 10% of the ground earmarked for exploration. The results of the August program did not generate positive results and do not warrant further geological investigation in the section of the property that the August survey addressed.
David Thornley-Hall, CEO of Megawatt, comments: "We look forward to receiving a proper overview of the potential of the property that an airborne survey can provide."
Mr. Geoffrey Reed (MAusMM (CP)) (MAIG), Consultant for the Company, is a qualified person as defined by National Instrument 43-101 ? Standards of Disclosure or Mineral Projects and has reviewed the scientific and technical information in this press release.
All scientific and technical information in this news release has been prepared by, or approved by Geoffrey Reed, (MAusMM (CP)) (MAIG), Consultant for the Company. Mr. Reed is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Mr. Reed has not verified any of the information regarding any of the properties or projects referred to herein other than the Route 381 Lithium Project. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the Route 381 Lithium Project.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.
Additionally, the Company has acquired a 60% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia, being the Tyr Silver Project and the Century South Silver-Zinc Project (see press release dated August 13, 2020) an indirect 100% interest (subject to a 1% NSR) in mining tenements in Northern Territory and New South Wales, Australia prospective for nickel-cobalt-scandium, uranium and rare earths and a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press release dated February 3, 2021).
Investors can learn more about the Company and team at https://megawattmetals.com.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the trading of the Company's common shares on the Exchange and the Company's use of proceeds and are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward- looking statements. Such forward-looking statements represent management's best judgment based on information currently available. No securities regulatory authority has either approved or disapproved of the contents of this news release.
SOURCE MegaWatt Lithium and Battery Metals Corp.
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