Comet Lithium Discovers First Spodumene-Bearing Pegmatite at Elmer East Property
ROUYN-NORANDA, QC, July 9, 2025 /CNW/ - Comet Lithium Corporation (TSXV: CLIC) (FSE: 8QY) ("Comet Lithium" or the "Corporation") is pleased to announce the discovery of a spodumene-bearing pegmatite dyke (see Figure 1) at its wholly-owned Elmer East property, as part of its ongoing summer fieldwork campaign targeting the Triple L and Elmer East properties in the Eeyou-Istchee James Bay region of Québec. This initial program was designed as a targeted and first-pass exploration effort across high-priority targets.
The newly identified dyke (see Figure 1), located in the southwestern portion of the southern claim block, measures approximately 1 to 2 metres in width and has been traced over at least 80 metres along strike, remaining open to the east. Mineralogical observations confirm the presence of very pale green spodumene crystals (see Figure 2), accompanied by muscovite and trace amounts of black tourmaline – consistent with classic LCT-type (lithium-cesium-tantalum) pegmatite systems.
"The discovery of spodumene mineralization at the Elmer East property is an exciting development for Comet Lithium and a strong validation of our systematic exploration strategy" said Vincent Metcalfe, Chair and CEO of Comet Lithium. "This marks the first confirmed lithium-bearing zone on the property and highlights the significant exploration upside across our land package in the James Bay region in the province of Québec. We look forward to following up with additional work to assess the scale and continuity of this emerging mineralized trend."
The 2025 field program at the Elmer East property was conducted by Dahrouge Geological Consulting Ltd. between June 25 and June 30, 2025. The program included geological mapping, structural measurements, and rock sampling over prioritized outcrops identified through geophysical anomalies and satellite imagery. A total of 66 samples were collected, including certified control samples, and select samples were sent to AGAT Laboratories in Thunder Bay, Ontario, for lithium and gold analysis. Final assay results are pending.
Following the reception of assay results, the Corporation may carry out follow-up exploration, including trenching and channel sampling to test the eastern extension of the mineralized dyke and evaluate additional lithium potential across the southern claim block.
The Elmer East property is located in the Eastmain Greenstone Belt, approximately 100 kilometres north-northwest of the Nemiscau Cree community, and comprises 37 claims totaling 1,942 hectares. It forms part of Comet's strategic position in one of Canada's most prospective and active lithium districts.
The exploration program on the Elmer East property was part of Comet's 17-day field campaign. At Elmer East property, priority targets were identified via satellite image analysis, with a focus on zones where bedrock was likely exposed or near-surface. Several outcrops, especially in the southern block, were mapped and sampled, including the now-confirmed spodumene-bearing pegmatite. Two select samples (E6481494 and E6481203) were collected from separate outcrops along a west-to-east trend and aligned along with one another (see Figure 3).see Figure 3 sample location E6481494 and E64812031).
The collected samples have been submitted to AGAT Laboratories in Val d'Or, Québec, for geochemical analysis. Assay results are pending and will be released once available.
Qualified Person
Vincent Cardin-Tremblay, P. Geo (ogq #1386, PGO #3347), registered in the Provinces of Québec, and Ontario is Vice President Exploration to Comet Lithium, is a 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 Dahrouge Geological Consulting Ltd.
Dahrouge Geological Consulting Ltd. Is a global mining and mineral exploration consulting group providing expertise in professional geological, logistical, and project management services through all stages of the mining value chain.
Based in Edmonton, AB, CAN, Montreal, QC, CAN, and Denver, CO, USA, Dahrouge and its predecessor, Halferdahl and Associates, have advised and assisted clients in identifying, exploring, developing, and optimizing mineral projects and resources since 1971.
About Comet Lithium Corporation
Comet Lithium is a dynamic exploration company with a growing portfolio of highly prospective assets located in Québec, including several properties in the prolific James Bay District. The Company's land package includes the Liberty Property, located adjacent to Winsome Resources' Adina lithium discovery, and the Troilus East Property, positioned next to Troilus Gold's gold-copper project. Comet's strategy is focused on systematic exploration and unlocking the value of its diverse property portfolio through targeted fieldwork and strategic partnerships.
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 the results from the 2025 field program, including the results to be obtained from the 66 rock samples collected and sent to AGAT Laboratories, if any follow-up exploration programs will be completed on the Triple L and Elmer East properties, including any trenching and channel sampling to test the eastern extension of the mineralized dyke and evaluate additional lithium potential across the southern claim block of the Elmer East property , will occur, the timing to conduct such exploration program and the results of such exploration programs, and if it does so, what benefits Comet Lithium will derive from any such exploration programs. 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, 2024, 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.
Website: CometLithium.com
SOURCE Comet Lithium Corporation
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]
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