COMET INITIATES ADVANCED GEOPHYSICAL SURVEYS AS PART OF ITS 2025 EXPLORATION PROGRAM
VTEM to be flown over key areas of the Troilus East Property
ROUYN-NORANDA, QC, March 12, 2025 /CNW/ - Comet Lithium Corporation (TSXV: CLIC) (FSE: 8QY) ("Comet" or the "Corporation") is pleased to announce the launch of its 2025 exploration program at its Troilus East Property ("Troilus East Property"), located in the Chibougamau region of Québec. This year's program will build on last year's groundwork by incorporating advanced geophysical techniques to refine the exploration model and prioritize high-potential targets for gold and copper mineralization. The versatile time-domain electromagnetic ("VTEM") survey will be conducted in collaboration with Troilus Gold Corp. ("Troilus").
Vincent Metcalfe, CEO of Comet, stated: "With significant work planned on the neighboring Troilus project in 2025 and a strong backdrop of rising gold and copper prices, we see considerable potential for further exploration across our broader land package. The Frotet-Evans camp, in particular, holds significant potential for new gold and copper discoveries and remains a primary focus. This program is designed to refine and prioritize planning, evaluate promising opportunities, and unlock the district-scale potential of the area through continued exploration."
Geophysical Survey
The geophysics program will include over 543 line-kilometres of airborne VTEM surveys across the gold and copper prospective zones, following similar methodologies used by Troilus Gold to successfully delineate high-grade mineralization (Figure 1).
As per public information disclosed by Troilus, Airborne VTEM surveys conducted by Troilus in 2015 over the main ore bodies showed a correlation with zones of high-grade volcanogenic mineralization. Historical electromagnetic surveys conducted in the belt do not offer the fine resolution and depth of investigation (exceeding 300 metres) obtained through modern VTEM surveys. The results of this survey will be integrated with existing datasets to better define exploration and future drilling targets.
Recap of 2024 Exploration Program
The exploration program identified three discrete gold-in-till anomalies along the interpreted geophysical structure, trending with the Parker Intrusion contact (Figure 2). Additionally, a cluster of outcrop samples returned gold anomalies ranging from 0.055 g/t to 0.224 g/t (Figure 3). Two of these samples were collected from foliated basalt with rusty quartz veins, while the highest-grade sample (0.224 g/t) was found in a gossanous gabbro. These samples align with the gold-in-till anomalies and may be proximal to the source of the gold-in-till anomaly down-ice from these outcrops. If the results from additional infill till sampling and VTEM surveys are positive, the Corporation anticipates defining potential drill targets for follow-up exploration.
Marketing Activities:
We invite investors to visit our website to keep up to date with Comet's marketing activities, including conferences that our team will be attending and/or exhibiting.
- Swiss Mining Institute | Zurich, Switzerland | March 18-19, 2025
Cautionary statements
Grab samples are selective by nature and may not be representative of mineralized zones.
Qualified Person
Vincent Cardin-Tremblay, P. Geo (ogq #1386, PGO #3347), registered in the Provinces of Québec, and Ontario, Vice President Exploration for Comet Lithium, is the Corporation's qualified person under National Instrument 43‑101 – Standards of Disclosure for Mineral Projects. He has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About Comet Lithium Corporation
Comet Lithium is a dynamic focused exploration company active in the prolific James Bay District of Québec. Comet Lithium's flagship asset is its 100%-owned Liberty Property contiguous to Winsome Resources' Adina lithium deposit, a growing high-grade lithium discovery. The second prospective asset within Comet Lithium's portfolio of asset is the large Troilus East Property contiguous to Troilus Gold's Troilus deposit, a large multi million-ounce gold-copper deposit, which recently reached feasibility stage.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Comet Lithium, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including if any future drill targets will be identified from the Troilus East 2025 VTEM program, if any additional exploration program, including infill till samplings, Induced Polarization surveys or drilling, will occur on the Troilus East Property, the extent and the timing to conduct such 2025 exploration programs and follow-up exploration program, if any, and the results of such exploration programs, and if any discoveries will occur on the Troilus East Property, and if it does so, what benefits Comet Lithium will derive from any such exploration programs or discoveries. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Comet Lithium's control. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions described under "Financial Instruments" and "Risk and Uncertainties" in Comet Lithium's Annual Report for the fiscal year ended December 31, 2023, a copy of which is available on SEDAR+ at www.sedarplus.ca, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Comet Lithium does not intend, nor does it undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
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 the release.
SOURCE Comet Lithium Corp.
For further information: Comet Lithium Corporation, Vincent Metcalfe, Chairman and CEO, [email protected], +1.514.249.9960; 147 Québec Avenue (back door), Rouyn-Noranda, Québec J9X 6M8, Email: [email protected], Website: CometLithium.com
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