VAL-D'OR, QC, April 20, 2018 /CNW Telbec/ - Vision Lithium Inc. (TSXV: VLI) (OTC: ABEPF) (the "Company" or "VLI") is pleased to announce the start of an initial drilling program on its 100% owned Sirmac Lithium Property (the "Sirmac Property") acquired from Nemaska Lithium Inc. ("Nemaska"). The Sirmac Property consists of 194 mining claims having a total area of approximately 10,350 hectares, and is located 180 kilometres by road north-west of Chibougamau, Quebec.
Vision Lithium has initiated a 1,500 metre drilling program consisting of approximately 25 shallow drill holes targeting the main #5 Dyke outcrop zone. The Sirmac Property hosts the #5 Dyke on which Nemaska Lithium completed more than $2-million of exploration work (2011 and 2012) consisting of 72 shallow drill holes and extensive trenching and channel sampling that led to a historical resource estimate.
"Our first drilling program will include several twin-holes designed to validate the historical results and provide samples for future metallurgical work," commented Yves Rougerie, President and CEO of Vision Lithium. "In addition, several holes will be drilled to test the extensions of the #5 Dyke zone along strike and down-dip below cover. These holes are accretive to the historical work already completed on the Property. Drilling to date is progressing very well with 5 holes finished."
There are at least 12 poorly exposed pegmatite dykes on the Property, some of which are known to be lithium-bearing and most of which have yet to be tested by drilling. The Company recently completed a 293 line-kilometre high-resolution airborne MAG survey over the original Sirmac Property block.
In addition, the Company is pleased to report that it elected its Board of Directors at the AGM held on March 22, 2018. The following board members were re-elected to the Board: Victor Cantore, Chairman of the Board; Yves Rougerie, President and CEO and Director, and Robert Bryce, Director. In addition, Dr. Scott Jobin-Bevans was elected to the Board.
Dr. Jobin-Bevans has almost 30 years in the mineral exploration business with more than 15 years of direct experience with public and private companies as an officer, director and technical advisor. He is a registered geoscientist with the Association of Professional Geoscientists of Ontario (APGO), an Adjunct Professor in the Department of Geology, Lakehead University, and a certified Project Management Professional (PMP). Areas of expertise include project generation and management, due diligence reporting (valuation/evaluation/auditing), managing multi-million dollar projects from generative stage to advanced exploration and development and research and reporting and targeting with respect to mergers and acquisitions and investment in various commodities including lithium, gold, nickel and copper. Dr. Jobin-Bevans has an extensive industry and government network and served as President (2010-2012) and a Director (2002-2010) of the Prospectors and Developers Association of Canada (PDAC). In 2013, Scott was awarded the Queen Elizabeth Diamond Jubilee Medal in recognition of his significant contribution and achievements as a volunteer in the Canadian minerals industry.
"I would like to take this opportuntity to welcome Scott to the Board of Directors, his technical expertise and business acumen is accretive to that of our existing board members" said Victor Cantore, Chairman of the Board of Directors of Vision Lithium. "I have worked with Scott on other hard rock lithium projects in Canada and I am keen to apply his knowledge and experience to our exploration work on Sirmac from a board perspective. I am very excited that we have launched the drilling program on Sirmac and I look forward to seeing the initial drilling results. I have been aware of the Sirmac Property for many years and I am delighted to see it being given the attention it deserves as a flagship lithium property."
Also at the AGM, Raymond Chabot Grant and Thornton LLP was reappointed as auditors for the ensuing year and the Company stock option plan was approved.
Finally, pursuant to the Company's stock option plan, Vision Lithium issued 400,000 stock options to directors, officers and/or consultants to purchase common shares in the capital of the Company at $0.48 per share for a 5-year period.
The information of scientific or technical information in this release has been reviewed and approved by Yves Rougerie, geo, President and CEO of the Company. Mr. Rougerie is a qualified person as defined by NI 43-101.
About Vision Lithium Inc.
Vision Lithium Inc. is a junior exploration company focused on exploring and developing high quality battery mineral assets including lithium and copper in safe jurisdictions, primarily Canada. The Company is led by skilled and qualified mineral exploration experts and business professionals with a deep understanding of the lithium battery materials market which is driven by lithium ion batteries. Vision Lithium is committed to discovering new world class assets and bringing these assets to production, starting with its flagship projects the Sirmac Lithium property and the Dome Lemieux copper property, both located in Quebec, Canada. Nemaska Lithium is the largest shareholder of Vision Lithium.
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SOURCE Vision Lithium Inc.