New Lithium Soil Anomalies Detected at Preissac

Large Anomalies Located along the Vallée Lithium Trend

TORONTO, April 11, 2024 (GLOBE NEWSWIRE) -- Consolidated Lithium Metals Inc. (TSXV: CLM | OTCQB: JORFF | FRA: Z36) (“CLM” or the “Company“) is pleased to announce that analytical results have been received for the 873 soil samples collected during the 2022 and 2023 fall exploration programs at the Company’s 100% owned Preissac-LaCorne Lithium Project, located in the Abitibi Greenstone Belt approximately 29 km northwest of Val-d’Or, Quebec (see Figure 1).

A total of nine lithium soil anomalies have been identified at Preissac-LaCorne to date (shown in Figure 2): 

1. Athona Anomaly
2. Key West Anomaly
3. Narwhal Anomaly
4. NW Buffalo Anomaly
5. West BaMo Anomaly
6. SE Preissac Anomaly
7. NW Narwhal Anomaly
8. South Key West Anomaly
9. SW Narwhal Anomaly

Each anomaly consists of samples containing greater than 100 ppm lithium. Five of these anomalies (1-3 & 7-8) are located within the heart of the Vallée Lithium Trend Survey in the Northeast area of the property; along strike of the pegmatites comprising Sayona’s North American Lithium Operation and to lithium mineralization encountered on FE Battery Metal’s Augustus Property (see Figure 2). Three single sample anomalies (4-6) are located in the southern half of the property within the area sampled during the 2022 soil sampling program. 

The 2022 soil sampling property-wide survey was completed on 400 m x 200 m sample station spacings (608 samples). The 2023 soil sampling property-wide survey was completed on 200 m x 100 m sample station spacings (265 samples).

Richard Quesnel, CLM’s Executive Chairman stated, "The size and intensity of the lithium-in-soil anomalies at Athona, Key West, and Narwhal, are significant developments for CLM. All three anomalies are within the Vallée Lithium Trend, along the strike of three known, lithium-bearing pegmatite swarms. The East Preissac area has become a high priority exploration target for the Company. We are eagerly looking forward to the results of our upcoming three-phase exploration program this summer."

Detailed description of each anomaly

1. Athona Anomaly

The Athona Anomaly is comprised of five sub-subsections scattered over a 1,600 m long by 650m wide (see Figure 3). Lithium soil concentrations in the Athona Anomaly range from 165 ppm Li to 348 ppm Li. The sub-sections of the Athona Anomaly surround the New Athona Mo-Li Occurrence, which was discovered in 1960. Grab samples ranging up to 11.99% Mo and 0.28% Li₂O have been reported at the New Athona Mo-Li Occurrence (see Government of Quebec, SIGEOM website at: