Rock Edge – Acquires Additional Claims After Encouraging Exploration at Pagwachuan North - Seite 2

The Transaction

Rock Edge acquired an additional 12 claims (244 cells) from two third parties, Gravel Ridge Resources Ltd. and 1544230 Ontario Inc. (collectively the "Vendors") for an aggregate cash payment of $12,200. Subject to an amending agreement dated June 12, 2023, between the Vendors and the Company, the additional claims will be added to Schedule "A" and subject to the terms and conditions of the original Purchase Option Agreement Pagwachuan Lithium, dated February 6, 2023, between the Vendors and the Company.

Foto: Accesswire

Maun Lithium Property

The Maun Lithium Property consists of 51 mining claims totaling 1,454 hectares. The property straddles the terrane boundary between the East Wabigoon and English River subprovinces. These terrane boundaries are integrally related to the location of northwestern Ontario lithium deposits and occurrences, as they act as deep-seated sutures for parental granitic melts (Breaks et al., 2003¹). The Maun Lithium Property is located approximately 2.3 km east of Superb Lake.

Terrier Lithium Property

The Terrier Lithium property consists of 19 mining claims totaling 2,636 hectares. The property lies 8 km north of the English River-East Wabigoon terrane boundary. The property is located along the edge of a muscovite-bearing granitic pluton, a peraluminous S-type fertile parental granite (Breaks et al., 2003¹) and in contact with metasediments. Metasediments make excellent exo-contact hosts for rare-element pegmatites fractionating from a fertile granitic parent (Breaks et al., 2003¹). An east-trending structural feature mapped by the OGS transects the property providing possible pathways for parental granitic melts. Reconnaissance mapping by the Ontario Department of Mines in 1931 along river and lake systems identified several pegmatites hosted within muscovite-bearing granites and metasediments. Some of these occurrences are located on the Terrier Lithium Property. Diamond drilling by Anaconda Mining in 1956 investigating iron formations to the north of the property noted white pegmatites containing garnet, tourmaline, muscovite and some instances fluorite with downhole intervals up to 30 m (OGS assessment file 42L10NE0004). These minerals are good indicators of fractionation from a fertile parental granite (Breaks et al., 2003¹). Anaconda did not assay the pegmatites.