Yahoo Finance Harfang Strengthens Its Critical and Strategic Minerals Portfolio With New Lithium Properties, Eeyou Istchee James Bay (Québec)
MONTREAL, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Harfang Exploration Inc. (“Harfang” or the “Company”) (TSX-V: HAR) is pleased to announce that it has acquired by staking additional claims related to its Critical and Strategic Minerals (“CSM”) program reinforcing its strong land position in Eeyou Istchee James Bay (Québec). This recent map designation includes 119 contiguous claims forming the new Ewart Property and the addition of 100 claims to the La Passe Property (Figure 1).
Commented Ian Campbell, President and CEO, “The Eeyou Istchee James Bay region is experiencing heightened staking activity based on its abundance of lithium-bearing pegmatites including four deposits with defined resources. In addition, this region has recorded numerous recent discoveries including Corvette by Patriot Battery Metals just east of our projects underscoring the exploration potential of the area. Our team ranks amongst the most knowledgeable in Eeyou Istchee James Bay and has recently completed a detailed data compilation for targeting purposes resulting in the acquisition of the Ewart claims, and the expansion of the La Passe Property. We believe both properties have excellent potential for the discovery of lithium-bearing pegmatites. In addition, prospecting on the Serpent-Radisson Property in 2022 discovered encouraging beryllium, lithium, cesium and tantalum mineralization not previously recognized. These land acquisitions are proximal and complementary from an operational perspective to our high-grade gold projects, including Lake Menarik and Serpent-Radisson.”
Ewart Property Generation
The new Ewart Property consists of 119 claims (6,146 hectares) and is located in the central part of the Opinaca Subprovince, overlapping a favourable environment for hosting lithium and rare metals mineralization as defined by the Ministère des Ressources Naturelles et des Forêts du Québec (MRNFQ). This prospective zone, characterized by the presence of layered and beryllium enriched pegmatitic intrusions, forms an aureole around a granitic intrusion hosted in paragneiss. The MRNFQ reports a complex mineralogy consisting in muscovite, tourmaline, garnet, apatite and beryl in pegmatites. To date, there is no evidence of prospecting in the area for the more evolved S-type pegmatites that are host to economic lithium mineralization.
La Passe Property Expansion
The La Passe Property, now made up of 180 claims (9,265 hectares), was originally generated based on its potential for gold mineralization in a geological setting reminiscent of the Eleonore gold deposit located near the structural and metamorphic boundary of the La Grande and Opinaca subprovinces. Harfang has also added 100 claims by map designation at La Passe, an area that has recently seen extensive staking activity by numerous companies. The new claims cover a group of pegmatitic and granitic dykes associated with the Vieux Comptoir Granitic Suite in a setting dominated by sedimentary rocks at the western limit of the Opinaca Subprovince.
Harfang’s CSM Properties Update
Harfang has developed a solid portfolio of projects favourable for CSM such as 1) magmatic sulphide copper, nickel, platinum, palladium and chromium, and 2) pegmatite-hosted lithium, cesium and tantalum mineralization. The first group refers to the Menarik East Property and includes a historic chromium and platinum-group elements non-compliant resource and nickel-copper occurrences grading up to 1.88% Ni and 0.35% Cu over 4.5 metres associated with ultramafic rocks (Ressources minières Pro-Or, 2009). In addition, intrusive hosted, high-grade gold-silver structures containing up to 58 g/t Au and 853 g/t Ag have been obtained from grab sampling on this property. The second group includes the Pontax Property where the Company entered into an option agreement with Li-FT Power who reported a Li-Cs-Ta till anomaly and the first lithium showing on the property (see news release dated November 16, 2022). This latter group also includes the Serpent-Radisson Property where the Company obtained encouraging Li-Cs-Ta results in pegmatites (see news release dated October 5, 2022).
Outlook 2023
Exploration work has begun on the Lake Menarik Property with approximately 40 kilometres of grid cutting and induced polarization surveying, which will be followed by diamond drilling beginning in early February. During the next prospecting season, Harfang intends to proceed to a first-phase exploration program over the new Ewart and La Passe claims announced today. This work will be an integral part of the global strategy of the Company which will include advancing exploration on its high-grade gold projects. Harfang is currently in the process of developing its overall 2023 exploration plan.
Qualified Person
The technical information in this news release was prepared and approved by François Huot, P.Geo, Vice President Exploration of Harfang, who is a non-independent qualified person for the technical disclosure as defined by the National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI43-101”).
About Harfang Exploration Inc.
Harfang Exploration Inc. is well financed with approximately $8.24 M in the treasury as of October 31, 2022 and is a technically driven mineral exploration company with the primary mission to discover ore deposits in Québec and Ontario. The Company is managed by an experienced team of industry professionals with a proven track record of success, controls a portfolio of highly prospective projects and has a strong financial position. Harfang is dedicated to best practices through engagement with all stakeholders and commitment to the environment.
On behalf of the Board of Directors and for further information, please contact:
Ian Campbell
President and Chief Executive Officer
Tel: 647 680-3820
Email: icampbell@harfangexploration.com
Web: www.harfangexploration.com
Cautionary Statement Regarding Forward-Looking Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
