CGrowth Capital Inc. Discovers Significant High-Grade Lithium Deposits

NEW YORK, NY, July 05, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- CGrowth Capital Inc. (OTC: CGRA) is pleased to announce the publication of a high-level preliminary report of its exploration efforts in the company’s recently acquired lithium tenements in the Hombolo region of Tanzania. This preliminary report reveals promising indications of significant lithium mineralization along with key geological sequences and notable results obtained from rock chip sampling, confirming the presence of valuable lithium resources.

The report offers a concise overview of the initial exploration conducted at the Mohanga Lithium tenement situated in Makulu Village, Bahi and Dodoma Urban districts of the Dodoma region in Central Tanzania. Additionally, it presents a comprehensive account of the mining licenses secured, encompassing 17 prospecting licenses and a total of 37 primary mining licenses. The report also includes a detailed depiction of the project areas' locations and provides precise information on the acquired mining licenses.

The primary sources of lithium in the acquired project area are based on the preliminary analysis of two minerals found within the pegmatites: lepidolite, a lithium-bearing mica, and spodumene, a lithium-bearing pyroxene. The project area yielded a series of promising results with the preliminary analysis including several notable findings. For example, rock chip sampling taken across the project area have returned multiple values of over 1.5% Li2O, with particularly encouraging results such as 3.3% Li2O, 2.6% Li2O, and 2.3% Li2O also recorded from this high-level preliminary exploration.

A mineralized zone of significant interest has also been identified following this early-stage exploration. This zone has been recorded as a significant lithium-rich area and is characterized by high-grade mineralization that extends up to 30 meters in thickness. This mineralized zone spans a minimum strike length of 150 meters, indicating the existence of substantially valuable lithium resources within the area. Overall, the exploration efforts have shown promising indications of significant lithium mineralization within the project area, including high-grade zones and multiple pegmatite occurrences.