Global Li-Ion Signs Letter Agreement to Acquire Past Producing Silver-Gold Property Chihauhau State Mexico
September 22 2020 - 3:15AM
Global Li-Ion Graphite Corp. (“
Global Li-Ion” or,
the “
Company”) (CSE: LION) (OTC: GBBGF) is pleased
to announce that it has entered into a letter agreement with Grupo
Minero Diflor S.A. de C.V. a private Mexican Company to acquire a
100% interest in the MVZ Silver-Gold Mine Property in Chihuahua
Mexico.
The 1200 hectare Property hosts 3 past producing
silver-gold deposits, El Moro, La Virginia and La Zorra (MVZ
Property). The Property is situated within Grupo Minero Diflor’s
Pajarito Project which covers a 10 X 25 km, fault-bounded exposure
of older sediments and intrusives surrounded by voluminous younger
post-mineral rhyolites. The Pajarito Project covers a large mineral
system with widespread epithermal mineralization and multiple
examples of porphyry-style potassic and propylitic alteration. The
older rocks are broadly altered and host artisanal mines. In the
silver dominant MVZ triangle, breccia and intense shear-hosted
sulfide mineralization has silver values up to +1,000 grams per
tonne silver, multiple percentages of lead and zinc with gold
credits.
The MVZ Mine Property, based on aero magnetics
and pegmatitic quartz on a dump, is interpreted to be located over
an intrusive. The La Zorra mine has open stopes up to 10 meters
high. The mine has essentially no dump and mined material was
shipped directly by truck to the smelter. There also are nearby
gold prospects on the concession reporting multi-gram gold assays.
Diflor is the first to conduct modern sampling and geological
mapping but the Project remains unexplored by modern geophysical
surveying, drilling or other modern exploration and prospecting
programs.
The Property is located in the south west of
Mexico’s Chihuahua state adjacent to Sinaloa and within the
prolific Sierra Madre Gold-Silver Belt which hosts numerous multi
million-ounce gold-silver deposits. The Sierra Madre Belt is
prolific country for silver-gold explorers. In this portion of the
Belt are the following past and present producers. The MVZ Mine
Property is located 60km south of the Gold Corp’s past producing
1.75M ounce El Suazal Gold Mine, is located 85 KM north of McEwen
Mining Inc., Fenix Project (El Gallo) which reports a measured and
indicated resource of 32.3 M oz of Silver and is 100 km northwest
of historic Guadalaupe y Calvo mine which produced 2 M oz gold and
35 M oz silver.
The property is road accessible to the Pacific
port of Los Mochis located 125km to the west and which has air,
rail and Interstate service.
President John Roozendaal states, “The Property
presents an exciting opportunity for the Company. It is within the
World-Famous Sierra Madre Gold Belt of Mexico and therefore within
the North American trading zone. The property itself has had
limited exploration and much of the exposure to historical
prospecting activity was impeded by a thin cover of soil and rock
leaving open the potential for undiscovered silver-gold
mineralization near surface. With modern “state of the art” mineral
exploration technologies, methods and advances in the geological
knowledge of these types of mineral systems we are looking forward
to discovering the full potential of the mineral rich area.”
The macro outlook for both Silver and Gold
remains incredibly positive. Silver is of particular interest to
LION given both its historic demand as a store of value but also as
a significant material in the manufacture of many Green
technologies and in particular the collection of solar energy
through panels. Silver is the most electrically conductive metal in
addition to its other important properties.
Mexico has long been considered a premier
producer of silver to the world and is one of the most attractive
destinations for mineral exploration and mining finance today. Its
location within the North American trading region and proximity to
the west coast of Mexico with its deep-water ports for shipping,
electrical power and transportation infrastructure are also
important considerations for acquisition of the Property.
Technical information
The technical content of this news release has
been reviewed and approved by William Feyerabend B.Sc., CPG and a
Qualified Person as defined by Canadian Securities Administrators
National Instrument 43-101 "Standards of Disclosure for Mineral
Projects”.
About Global Li-Ion
Global Li-Ion Graphite is an exploration and
mineral development Company focused on the acquisition and
development of mineral projects to supply the necessary raw
materials the rapidly growing Green energy industry and related
technologies require.
Further information about Global Li-Ion is
available under its profile on the SEDAR website, www.sedar.com, on
the CSE website, www.thecse.com, and the Company’s website,
www.globalli-iongraphite.com.
For Further information about the
Company, please contact:Jason WalshDirector &
OfficerGlobal Li-Ion Graphite Corp.Telephone 604.608.6314Email:
info@liongraphite.com
Neither the Canadian Securities Exchange nor its
regulation services provider have reviewed or accept responsibility
for the adequacy or accuracy of this press release.
Forward-Looking Information:
This press release contains forward-looking
statements. The use of any of the words “anticipate”, “continue”,
“estimate”, “expect”, “may”, “will”, “project”, “intend”, “believe”
and similar expressions are intended to identify forward-looking
statements. Although the Company believes that the expectations and
assumptions on which the forward-looking statements are based are
reasonable, undue reliance should not be placed on the
forward-looking statements because the Company can give no
assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. These
statements speak only as of the date of this press release. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks discussed in the Company's
Management's Discussion and Analysis under the Company's profile on
www.sedar.com. While the Company may elect to, it does not
undertake to update this information at any particular time.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
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