Joshua Gold Resources Inc. is pleased to announce that its exploration team will be conducting an on-site sampling program of seven potential mineral outcrops at its Seymour Lake Extension property, which lies just 300 meters east of Green Technology Metals (ASX: GT1) lithium site.
JSHG’s on-site exploration plans follow recent LiDAR survey results that show seven potential mineral outcrops on the property. Once samples have been collected, lab analysis will be conducted which could reveal the presence of lithium-bearing pegmatite.
Using the survey data, JSHG’s Chief Geologist, Fred Sharpley (QP), was able to assess that the property appears to have a geological structure consistent with a potential lithium mineral deposit, along with the presence of indicator minerals, like pegmatite, suggesting the same:
“The lithium occurs in pegmatite related to the lenticular hornblende tonalite and granite batholith. The pegmatite deposits occur as:
- Structural zones related to the contact of the granite and mafic volcanics.
- North-South structural zones within the granite.”
The company’s exploration progress also follows recent news from the neighboring Green Technology Metals lithium property. The company reported that the site had doubled its interim mineral resource to 9.9MT @ 1.04% Li20 (a 105% increase over previous data).
The Green Metal Technology site’s indicated category mineral resource is also reported to have increased 2.5x to 5.2 Mt @ 1.29% Li20, and approximately 53% of total Seymour Mineral Resource is classified as Indicated.
In addition to their promising results, neighboring Green Technology Metals recently announced a strategic collaboration agreement (SCA) with the major North American lithium industry participant Lithium Americas Corp (TSX/NYSE: LAC).
Their agreement builds upon a previously created collaboration framework between the two companies. It also establishes a Strategic Management Committee to help govern the evaluation of joint exploration and development opportunities.
While not indicative of future performance, these are important steps in modern mineral exploration. Given the property’s proximity to the Green Technology Metals lithium site, and that company’s partnership announcement as well as the recent LiDAR exploration results it is particularly interesting for JSHG.
Regarding the exciting next steps at the Joshua Gold Resources property, along with the developments from the neighboring Green Technology Metals site, company President Ben Fuschino said:
“We are excited to be advancing into the next step of exploration of our Seymour Lake Extension property, especially as we receive updates from the adjoining Green Technology Metals site.
While still very early, at this stage it’s encouraging to see collaboration happening with important partners like Lithium Americas Corp. We look forward to reporting soon on the analysis of our own sampling program from the same area.”
About Joshua Gold Resources Inc.
Joshua Gold Resources Inc. (OTC Pink: JSHG) is a publicly traded American gold and mineral exploration company headquartered in Canada, home to the 3 billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, copper, lithium, cobalt, niobium, lithium to chromium.
Safe Harbor Statement: This press release contains forward looking statements of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward looking statements are not a guarantee of future performance and results, and will not be accurate indications of the times, or by, which such performance will be achieved.
Investor Relations Contact:
Peter Nicosia, President of Bull In Advantage, LLC
Phone: (585) 703-6565