VANCOUVER, British Columbia, Oct. 14, 2020 (GLOBE NEWSWIRE) — Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) is pleased to report that it has completed plans and arranged for a field due diligence and initial ground exploration program of the MVZ Silver Mine Property in Chihuahua state, Mexico. The Property is the subject of a recent letter agreement with Grupo Minero Diflor S.A. de C.V., a private Mexican Company, to acquire a 100% interest.
The 1750-hectare Property hosts 3 past producing silver-gold deposits, El Moro, La Virginia and La Zorra (MVZ Property). The Property is situated within Grupo Minero Diflor’s Pajarito Project which covers a 10 X 25 km, fault-bounded exposure of older sediments and intrusives surrounded by voluminous younger post-mineral rhyolites. The Pajarito Project covers a large mineral system with widespread epithermal mineralization and multiple examples of porphyry-style potassic and propylitic alteration. The older rocks are broadly altered and host artisanal mines. In the silver dominant MVZ triangle, breccia and intense shear-hosted sulfide mineralization has silver values up to +1,000 grams per tonne silver, multiple percentages of lead and zinc with gold credits.
The field examination will include confirming the location of the claim monuments (mojaneras), sampling of the historic mines to confirm visually and with assays the presence of significant sulfide mineralization documented in prior historical work. In addition, the field crew will undertake reconnaissance traverses to establish both the size and scale of the mineral system and the local geologic framework which will assist with the geophysical interpretation. All field work will be done under the direct supervision of William Feyerabend CPG, the Company’s QP for the Project.
President John Roozendaal states, “We are excited to get an initial program underway at our Mexican Silver Mine Property with actual ‘boots on the ground’ in spite of the challenges being faced by exploration Companies working today in the era of Covid restrictions. The Company feels confident it can move forward successfully with exploration activity on our Mexican project due to the team of technical personal we are building in Mexico, Arizona and Canada, to guide and execute field programs and surveys.”
The MVZ Silver Mine Property: The Property is located in the south west of Mexico’s Chihuahua State within the prolific Sierra Madre Gold-Silver Belt, host to numerous multi-million-ounce gold-silver deposits. The Sierra Madre Belt is prolific country for silver-gold explorers. In this portion of the Belt are the following past and present producers. The MVZ Silver Mine Property is located 60km south of the Gold Corp’s past producing 1.75M ounce El Suazal Gold Mine, is located 85 KM north of McEwen Mining Inc., Fenix Project (El Gallo) which reports a measured and indicated resource of 32.3 M oz of Silver and is 100 km northwest of historic Guadalaupe y Calvo mine which produced 2 M oz gold and 35 M oz silver.
The property is road accessible to the Pacific port of Los Mochis located 125km to the west and which has air, rail and Interstate service. Its location within the North American trading region and proximity to the west coast of Mexico with its deep-water ports for shipping, electrical power and transportation infrastructure are also important considerations for acquisition of the Property. Mexico is one of the most attractive destinations for mineral exploration and mining finance today and has a long history as a major producer of silver.
The outlook for both Silver remains incredibly positive. and Silver is of particular interest given its historic demand as a store of value and as a significant material in the manufacture of many Green technologies.
Technical information
The technical content of this news release has been reviewed and approved by William Feyerabend B.Sc., CPG and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.
About Global Li-Ion
Global Li-Ion Graphite is an exploration and mineral development Company focused on the acquisition and development of mineral projects to supply the necessary raw materials the rapidly growing Green energy industry and related technologies require.
Further information about Global Li-Ion is available under its profile on the SEDAR website, www.sedar.com, on the CSE website, www.thecse.com, and the Company’s website, www.globalli-iongraphite.com.
For Further information about the Company, please contact:
John Roozendaal
President
Global Li-Ion Graphite Corp.
Telephone 604.608.6314
Email: [email protected]
Neither the Canadian Securities Exchange nor its regulation services provider have reviewed or accept responsibility for the adequacy or accuracy of this press release.
Forward-Looking Information:
This press release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intend”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com. While the Company may elect to, it does not undertake to update this information at any particular time.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Original Article: https://www.globenewswire.com/news-release/2020/10/14/2108105/0/en/MVZ-Silver-Mine-Project-Update-Chihauhau-State-Mexico.html
