Spod Lithium Corp. Samples 1.5% Li20 at Niemi Pegmatite Project

VANCOUVER, British Columbia, July 13, 2023 (GLOBE NEWSWIRE) -- SPOD LITHIUM CORP. (“SPOD” or the “Company”) (CSE: SPOD) (OTCQB:SPODF) has provided an update on the 2023 Phase I surface exploration program for its 100% owned NORTH NIPIGON – NIEMI PROJECT in the Georgia Lake Pegmatite Field, Ontario. Spod Lithium sampled 1.507% Li₂O and continues to expand the mineralized area on the Niemi Block near (MDI42E05SW00017). A new lithium bearing boulder was also discovered on the north shore of Parole Lake, that returned 0.538% Li₂O, approximately 100 m west of a boulder discovered in 2018 (Ontario Geological Survey AFRI 20000019444).

The Phase I program is designed to target spodumene bearing pegmatite bodies on our expansive land package in the heart of the prolific Georgia Lake Pegmatite Field. The program covers the Niemi Block, North Nipigon Block A and North Nipigon Block C (Figure 1). The program will continue to evaluate the historically underexplored Block B, Block C and Block A east of Rock Tech Lithium’s Georgia Lake deposit. Detailed mapping and sampling of the Parole Lake area will also be prioritized to determine the source of the spodumene bearing boulders. A total of 107 surface grab samples have been collected to date and submitted to the Actlabs facility in Thunder Bay, ON.

Chris Cooper, Spod Lithium’s CEO commented: “The North Nipigon – Niemi Project is beginning to show its real potential with 1.5% Li₂O sampled on trend with Imagine Lithium’s Jackpot Pegmatite and a new discovery of 0.54% Li₂O in the Parole Lake area. Our bedrock stripping and sampling program for the Niemi Pegmatite is scheduled to begin in August and will provide a better understanding of the spodumene bearing pegmatite in this area. The discovery of a second lithium bearing boulder 100 m from a historic showing in the Parole Lake area is encouraging and our field crews are working to identify the source of the boulders. We will continue to focus on the Parole Lake area, the underexplored Block B and the northern extend of Block A, east of Rock Tech Lithium’s Georgia Lake Deposit.”

The North Nipigon – Niemi Project is underlain by Archean metasediments and granites, along with Keweenawan age diabase. Pegmatites in the region occur close to and within the granitic plutons. The Project is contiguous with RockTech Lithium’s Georgia Lake Project and Imagine Lithium’s Jackpot Lithium Project. RockTech’s Project contains a NI43-101 compliant indicated resource of 10.6 Mt at 0.88% Li₂0 and a NI43-101 compliant inferred resource of 4.2 Mt of 1.00% Li₂O (MRE Source: Technical Report, NI 43-101, Pre-Feasibility Study, Georgia Lake, effective October 1, 2022). There are numerous other known pegmatite occurrences in the region as shown in Figure 1.