Arbor Metals Encouraged by Tesla Interest in Sigma Lithium
Vancouver, February 20, 2023 - Arbor Metals Corp. ("Arbor" or the "Company") (TSXV:ABR), (FWB:432) views the news late on Friday, February 18th, 2023, that Tesla has been exploring a transaction with near-term lithium producer, Sigma Lithium Corporation, as an encouraging synergy between EV lithium end-users and development-stage lithium producers, that may expand directly into project participation or financial support for lithium exploration and development. Even at a preliminary-stage, a potential transaction involving Tesla and Sigma has been viewed positively by the markets and the lithium sector. It has been widely reported that Tesla and its CEO Elon Musk have shown a continued interest in the extraction and refinement of lithium over the past five years.
With General Motors Co. recent (January 31st, 2023) US $650 million investment in Lithium America Corp., directed at the development of the Thacker Pass lithium project in Humboldt County, Nevada, we see another similar end-user EV carmaker supporting a near-term producer.
Arbor management feels the emerging lithium districts in northern Quebec and Ontario could be well positioned to supply Canadian-sourced spodumene lithium products to both EV carmakers and developing new battery plants. Both Canada and the USA are focused on supporting domestic sources of lithium to meet soaring demands.
The Company's Jarnet Lithium Project covers multiple pegmatite dikes which the Company's geological team have identified as similar to the pegmatite dikes on the CV-5 target. The Jarnet Lithium Project, located in the James Bay region of Quebec, comprises 70 map-designated claims, covering an area of approximately 3,759 hectares. The Jarnet South block is less than two km northwest of Patriot Battery Metals Inc.'s (PMET) CV-5 pegmatite zone, where an aggressive diamond drill program is in process, having made a number of significant discoveries. PMET recently reported 156.9 metres of 2.12 per cent Li2O (lithium oxide), including 25 m of 5.04 per cent Li2O (see PMET news release, January 19, 2023) from the CV-5 pegmatite zone on the Corvette-FCI property.
Note: Company management cautions the discoveries and observations on properties in proximity to the company's properties are not necessarily indicative of the presence of similar mineralization or geology on the company's properties.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43-101 and is responsible for, and has approved, the technical information contained in this release.
Arbor Metals Corp. is a mining exploration company specializing in the development of high-value, geographic significant mineral projects around the world. As industry leaders, we are paving the way for advanced mineral exploration as we oversee world-class mining projects. We believe quality projects, combined with proven strategies and a professional team will deliver superior results. We hold three exceptional mineral projects.
Jarnet Lithium Project, located in the James Bay Region of Quebec, which comprises of forty-seven map designated claims, covering an area of approximately 3,759 hectares. The Jarnet Project is contiguous to the Corvette-FCI Property, where diamond drilling has confirmed significant lithium mineralization.
For further information, contact Mark Ferguson, Chief Executive Officer, at info@arbormetals.com, or visit the Company's website at www.arbormetalscorp.com.
On behalf of the Board,
Mark Ferguson, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the development of the Jarnet Lithium Project, the assessment of samples from that Project, and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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