IRW-PRESS: MegaWatt Lithium and Battery Metals Corp .: Megawatt hires Elmore Limited to manage the field work in the top Australian rare earth and uranium projects
Vancouver, British Columbia (June 24, 2021) – Megawatt Lithium and Battery Metals Corp. (CSE: MEGA) (FWB: WR20) (OTC PINK: WALRF) (the Company, or Megawatt) is pleased to announce that Perth, Australia geological consulting firm Elmore Limited is leading the development work on the Artic Fox and Isbjorn projects in the Northern Territory, Australia.
Previous computer work verified the potential for rare earth elements, particularly neodymium and praseodymium, and uranium oxide mineralization in the two projects. Arctic Fox is adjacent to Nolans Bore along strike, a world-class SEE project scheduled to come online in mid-2022 and which has a JORC-compliant mineral resource. Isbjorn is adjacent to the Charley Creek advanced SEE project.
An internal review of recent Adamas Intelligence reports on rare earth elements (SEEs) and Canaccord Genuity on uranium indicate favorable future supply-demand dynamics that could potentially lead to an upward trend in prices over the decade. Much of the expected increase in demand for SEEs and uranium comes from green incentives, guidelines to reduce carbon levels, and the increase in electric vehicles.
Commissioning a geological consulting company
Megawatt hired Elmore Limited (ASX: ELE), an ASX-listed, experienced geological consultancy and contractor to the mining industry, to lead the first exploration campaign on the Artic Fox and Isbjorn properties.
Elmore expects the campaign to last a total of 8-10 days and employ a team of four made up of geologists and technicians. The team will conduct geological mapping and extensive sampling in the prospective areas of the two properties. The team will also deploy helicopters and follow-up ground support to ensure the campaigns are as efficient as possible.
Review of results once the analysis is complete could lead to the formulation of targets for further drilling tests and development work.
David Thornley-Hall, Chief Executive Officer, commented, “We are very encouraged by the prospects for SEEs and uranium and are very excited to be working with Elmore as our geological advisor in the Northern Territory.
Mr. Geoffrey Reed (MAusMM (CP)) (MAIG), advisor to the Company, is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure or Mineral Projects and has reviewed the scientific and technical information in this news release.
About MegaWatt Lithium and Battery Metals Corp.
MegaWatt is a British Columbia-based company engaged in the acquisition and exploration of raw material properties in Canada. The Company has an undivided 100% interest in the Cobalt Hill Property, subject to a 1.5% NSR royalty on all base, rare earth and precious metals. The property comprises eight mineral claims covering 1,727.43 hectares and is located in the Trail Creek Mining District in British Columbia, Canada.
In addition, the Company has acquired a 60% interest in a company that indirectly holds 100% interest (subject to a 2% NSR) in two promising silver-zinc projects in Australia, namely the Tyr Silver Project and the Silver Project. Century South zinc project (see news release dated August 13, 2020), and has an indirect 100% interest (subject to a 1% NSR royalty) in certain mining concessions in the Australian states of Northern Territory and New South Wales, the Have nickel, cobalt, scandium and rare earth potential and have a 100% interest (subject to a 2% NSR) in the Route 381 lithium property, which consists of 40 mineral claims located in the James Bay Territory, north of Matagami in in the province of Quebec, and covers 2,126 hectares (see press release dated February 3, 2021).
Investors can learn more about the company and the team at https://megawattmetals.com.
For more information please contact:
Chief Executive Officer
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