August 22, 2024 5:00 PM EDT | Source: Li3 Lithium Corp
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Commencement of exploration work on the 100% Northern Lights Copper Project
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Previous small-scale copper production observed in the early 1900s
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Historic reports indicate copper mineralization grading between 3% to 12% Cu
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Recent sampling confirms copper mineralization (1% to 19% Cu) with widths up to 4 meters at the surface
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Accelerated exploration program planned to prioritize testing of width and grade
Toronto, Ontario–(Newsfile Corp. – August 22, 2024) – Li3 Lithium Corp. (TSXV: LILI) (FSE: WD9) (“Li3 Lithium” or the “Company“) is pleased to announce that shareholders have approved a Company name change (the “Name Change“) at the Annual and Special Meeting of Shareholders held on August 22, 2024 (the “Meeting“). The directors of the Company have decided to change the name of the Company to “Global Copper Corp.“. The new trading symbol will be ‘CUCU.’
The Name Change is still subject to TSXV and regulatory approval. Existing shareholders do not need to take any further action regarding the Name Change. Share certificates will remain unaffected, and no exchange will be required. The Company encourages shareholders with questions or concerns to reach out for clarification.
Li3 Lithium intends to change its name to better align with the Company’s focus on copper exploration and project development. Stephen Dunn, President and CEO of Li3 Lithium, stated: “The proposed name change reflects the Company’s strategy to shift towards global copper exploration and project development in response to the anticipated surge in copper demand due to the energy transition to a net-zero carbon world.”
In conjunction with the Name Change, the Company has initiated a property-wide soil and rock geochemical sampling survey on its 100%-owned, 485-hectare Northern Lights Copper Project in Nevada. The survey aims to identify and expand on the copper skarn mineralization present on the property. Results from the survey will guide the identification of zones to be tested through drilling in the upcoming months.
The Northern Lights Copper Project, located 25 km from Yerrington, Nevada, has a history of small-scale intermittent copper production in the early 1900s. Recent sampling indicates the presence of copper mineralization (1% to 19% Cu) with widths up to 4 meters at the surface. The Company’s data compilation, geologic mapping, surface rock geochemistry, and magnetic survey results support further exploration at Northern Lights.
The Company plans to commence a two-phase exploration program based on recommendations from the Northern Lights Copper Project 43-101 Report released on December 31, 2021. Phase 1 will begin immediately and include a ground-based EM survey to define high-grade copper mineralization, alongside a property-wide soil and rock geochemical sampling survey. Phase 2 will involve reverse circulation drilling to confirm and assess the copper mineralization identified through various data sets.
Stephen Dunn, Chairman of the Company, emphasized the Company’s commitment to expedited exploration on the Nevada copper project, citing the expected surge in copper demand and the opportunities presented by the U.S. Government’s funding initiative for critical minerals projects.
For more information, please visit the original press release at https://www.newsfilecorp.com/release/220848
