CGrowth Capital Inc. Discovers Promising Lithium Bearing Pegmatite Deposits in Tenements Following Comprehensive Study and Survey

NEW YORK, NY, Dec. 19, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – CGrowth Capital Inc. (OTC: CGRA) is a public holding company for alternative and undervalued assets. The company is sector and industry agnostic and currently consists of two divisions including Sports Technology and Mining. The company is focused on investing in growth-oriented opportunities where the company’s capital, expertise, and capabilities can help create significant added value for shareholders.

CGRA is pleased to share the results of a comprehensive desktop research and reconnaissance survey undertaken by Metminec (Pty) Ltd on behalf of CGRA Mining Inc. This study was aimed at generating potential follow-up targets for lithium exploration and future drilling endeavours on several prospecting tenements owned by the company. As part of this extensive research project, a 7-day reconnaissance survey was conducted on site by Metminec (Pty) Ltd to record detailed field observations on the proposed lithium prospecting sites and licenced locations awarded to CGRA Mining Inc. in the Hombolo, Haneti, Kondoa and Singida areas.

Overall, the study successfully pinpointed several promising sites for lithium exploration within the explored tenements owned by CGRA Mining Inc. Notably, the study identified a significant mineral cluster in the western part of the tenements in the Hombolo region, extending through the Hombolo Lithium Block. This area aligns with the historic Hombolo-Msangani belt, known for its lithium deposits, suggesting high potential for new discoveries within the newly awarded prospecting licenses recently issued to CGRA Mining Inc. by the Ministry of Minerals and the Mining Commission of the United Republic of Tanzania.

For investors, this means that specific tenements owned by the company within the Hombolo region, notably PL/11955/2022, a portion of PL/17271/2021, and PL/19510/2022, have been identified as sites with lithium deposits. These areas are not only confirmed to have lithium, but they also exhibit a high potential for containing significant lithium deposits. These areas also show high occurrences of lithium-bearing minerals and have favorable terrain and proximity to known pegmatite locations. Additionally, one of these concessions is adjacent to the Auroch Lithium Exploration Project Block, part of the Hombolo Lithium Block, adding to its potential value for the company and shareholders. To view the outcome of the full desktop study and reconnaissance survey, we invite shareholders to visit the investor section on the CGRA Mining website. This extensive study offers a thorough overview of the methodologies applied in the geological exploration, an in-depth analysis of the project area, comprehensive results from specific target locations, and a rigorous validation of these findings.