Equitorial Exploration Receives Drill Permit for its LNPG Lithium Property in NWT
Vancouver, June 28, 2017 - Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) ("Equitorial" or "Company") is pleased to report that it has received a land use permit for its 100%-owned Little Nahanni Pegmatite Group (LNPG) Lithium Property in the Northwest Territories. The permit is valid for 5 years and allows Equitorial to conduct diamond drilling from a camp located on the property. The work program is scheduled to begin in mid-late July, 2017. CEO, Jack Bal comments,
"Our LNPG property is worthy of serious attention. The LNPG NI 43-101 released March, 2017 concludes that there are 'sufficient grades to bring the rock to within economic values'. The focus of our summer drill program is to further expand the economic potential of this significant Li property."
Little Nahanni Pegmatite Group (LNPG) Project Highlights Please see Property Location Map below
-Contains a system of Lithium-Caesium-Tantalum-type (LCT) pegmatite dykes
-13km strike length deeply incised by several east- or west-facing cirques
-"Sufficient grades to bring the rock to within economic values." (NI 43-101 March, 2017)
-Dyke continuity over a vertical range of 300+ meters demonstrated by natural exposure and past drilling. Each "swarm" of dykes is up to 300 m thick. The dykes are well exposed on the cirque walls and strike northerly, with near vertical dips
-Where sampled, each dyke swarm is up to 52.60 m wide and contains multiple dykes that range from 0.2 to 10 m in width. Reliable channel sampling performed in 2016
-Careful measurement of dyke width and host rock intervals have enabled bulk samples to be calculated
-"Results such as 10.35 m at 1.13% Li2O, 71.1 g/t Ta2O5 and SnO2 are highly encouraging." (NI 43-101 March, 2017)
Drill Program Summer 2017
The work program is scheduled for mid-late July and will include diamond drilling, channel sampling, resampling of 2007 drill core, and geological mapping and prospecting. Diamond drilling will target the pegmatite dyke swarms near the cirque floors in order to extend the vertical extent of these dykes. The 2017 field program on the Li Property will be managed by Archer, Cathro & Associates (1981) Limited ("Archer Cathro").
About Equitorial Exploration Corp
Equitorial is aggressively developing three 100%-owned, high-potential, lithium projects in North America. The Little Nahanni Pegmatite Group (LNPG) is a 43-101 compliant, hard rock, lithium property in the NWT. The Tule and Gerlach Lithium Brine Projects are located in lithium-rich Utah and Nevada within easy reach of the Tesla Gigafactory #1.
Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer Cathro and a qualified person for the purpose of National Instrument 43-101.
For more information please visit: http://www.equitorial.ca
_____________________
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
Click Image To View Full Size
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule, Gerlach and Little Nahanni Pegmatite Project: statements pertaining to the ability of Equitorial Exploration Corp.("EXX"); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for EXX to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by EXX in light of its experience and perception of current and expected future developments, as well as other factors that EXX believes are appropriate in the circumstances. Many factors could cause EXX's results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events 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.
Copyright (c) 2017 TheNewswire - All rights reserved.