MVZ Silver Mine Project Update Chihauhau State Mexico
October 14 2020 - 3:15AM
Global Li-Ion Graphite Corp. (“
Global Li-Ion” or,
the “
Company”) (CSE: LION) is pleased to report
that it has completed plans and arranged for a field due diligence
and initial ground exploration program of the MVZ Silver Mine
Property in Chihuahua state, Mexico. The Property is the subject of
a recent letter agreement with Grupo Minero Diflor S.A. de C.V., a
private Mexican Company, to acquire a 100% interest.
The 1750-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 field examination will include confirming the
location of the claim monuments (mojaneras), sampling of the
historic mines to confirm visually and with assays the presence of
significant sulfide mineralization documented in prior historical
work. In addition, the field crew will undertake reconnaissance
traverses to establish both the size and scale of the mineral
system and the local geologic framework which will assist with the
geophysical interpretation. All field work will be done under the
direct supervision of William Feyerabend CPG, the Company’s QP for
the Project.
President John Roozendaal states, “We are excited
to get an initial program underway at our Mexican Silver Mine
Property with actual 'boots on the ground' in spite of the
challenges being faced by exploration Companies working today in
the era of Covid restrictions. The Company feels confident it can
move forward successfully with exploration activity on our Mexican
project due to the team of technical personal we are building in
Mexico, Arizona and Canada, to guide and execute field programs and
surveys.”
The MVZ Silver Mine Property: The Property is
located in the south west of Mexico’s Chihuahua State within the
prolific Sierra Madre Gold-Silver Belt, host to 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 Silver
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. 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. Mexico is one of the most attractive destinations for
mineral exploration and mining finance today and has a long history
as a major producer of silver.
The outlook for both Silver remains incredibly
positive. and Silver is of particular interest given its historic
demand as a store of value and as a significant material in the
manufacture of many Green technologies.
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:
John Roozendaal President Global Li-Ion Graphite Corp. Telephone
604.608.6314 Email: 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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