FE Battery Metals: An Update on Corporate Activities

FE Battery Metals Ltd (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89), a leading player in the battery metals industry, is pleased to provide a comprehensive update on its recent corporate activities. Despite temporary disruptions caused by fire restrictions, the company has made significant progress in its exploration campaign at the Augustus Lithium Project in Val d'Or, Quebec. This update will highlight the key achievements and ongoing initiatives of FE Battery Metals.

UAV Geophysical Survey and Lithium Discoveries

In 2023, FE Battery Metals undertook a highly detailed magnetic survey of the Augustus Lithium Project, covering a total of 277.2-line kilometers. This drone-borne survey expanded the magnetic coverage of the project, revealing new structural anomalies in the southeast quadrant. These anomalies bear striking similarities to those observed within the main Augustus mineralized pegmatite zones. Excitingly, ground prospecting work in the area led to the discovery of highly prospective mineralization, including the Bella and Outcrop 900 sites.

Diamond Drilling Expands Main Showings

FE Battery Metals has continued its diamond drilling program to expand the two main showings, Augustus and Beluga. In 2023 alone, the company has completed 27 drill holes with a cumulative length of 5,124 meters. Out of these, 12 holes intersected positive lithium mineralization, further confirming the potential of the project. The geologic consensus suggests that the lithium-bearing mineralization spans a structural corridor of approximately 5.5 kilometers, with the possibility of extending to over seven kilometers. Results from seven drill holes are still pending, adding to the anticipation surrounding the project.

Trenching and Channel Sampling Uncover New Prospective Drill Targets

FE Battery Metals has also conducted a comprehensive ground prospecting, geological mapping, trenching, and channel sampling program. Initially focused on confirming historical lithium pegmatite occurrences, this program has resulted in the identification of new lithium-bearing pegmatite bodies. Notably, a channel sampling released on August 21, 2023, revealed a significant lithium occurrence east of the main Augustus zone, expanding the potential drill targets for the company.

Positive Metallurgical Testwork

To develop a preliminary process for treating the spodumene-bearing rock at the Augustus Lithium Property, FE Battery Metals engaged SGS Lakefield Laboratories to conduct metallurgical testwork. The goal was to conceptualize a flowsheet that would produce lithium oxide concentrate and a high-purity lithium carbonate product. The testwork achieved favorable results, with a spodumene concentrate containing 6.08% lithium oxide (Li2O) produced through dense media separation (DMS) and flotation techniques. The final report on the testwork is eagerly awaited.

Plans for the Future and Maiden Resource Estimate

FE Battery Metals has made significant progress in establishing two key areas of interest, Augustus and Beluga, through its systematic multi-year drill program. The trenching and drill data collected during recent exploration activities are being incorporated into a three-dimensional database model. This model will play a crucial role in the company's maiden resource estimate, which is expected to be completed in the fourth quarter of 2023. The company's efforts to expand its claim block in the Georgia Lake area in Northwestern Ontario further underscore its commitment to growth and exploration.

Extended Advertising Agreement and RSU Grants

FE Battery Metals has extended its advertising agreement with Gold Standard Media, LLC by an additional four months. This agreement includes marketing, campaign management, administrative services, and investor relations activities. The extension of this agreement demonstrates the company's commitment to promoting its brand and maintaining a strong market presence. Additionally, the company intends to grant a total of 3,800,000 Restricted Share Units (RSUs) to certain directors, further aligning their interests with the success of the company.

Conclusion

FE Battery Metals continues to make significant strides in its exploration and development activities at the Augustus Lithium Project. The company's recent achievements, including the UAV geophysical survey, diamond drilling, trenching, and positive metallurgical testwork, highlight the substantial potential of the project. With ongoing efforts to expand its claim block and the upcoming maiden resource estimate, FE Battery Metals is firmly positioned as a key player in the battery metals sector.

Disclaimer: This article contains forward-looking information based on the current expectations and assumptions of FE Battery Metals Ltd. Actual results could differ materially from those anticipated.

Source: FE Battery Metals Ltd

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