July 18th, 2023 – Vancouver, B.C. – Medaro Mining Corp. (CSE: MEDA) (“Medaro” or the “Company”) is delighted to announce the launch of its 2023 exploration fieldwork program (the “Program”) on the Rapide Lithium Property (the “Property”) situated in Val-d’Or, Quebec, Canada. Building upon the success of the 2022 exploration efforts, which revealed lithium anomalies through soil sampling, the Company is eager to advance its understanding of the Property’s lithium potential.
The primary objective of the 2023 work program is to expand upon the findings of the previous year by extending the soil grid to the north and establishing two additional soil grids in the northern and southern sections of the Property (see figure 1 below). This strategic approach will allow for comprehensive coverage and enhanced exploration insights.
In addition to expanding the soil grid, the Company will undertake prospecting, mapping, and rock chip sampling activities to investigate potential pegmatites discovered during the soil sampling work. These pegmatites represent exciting prospects that warrant closer examination, and Medaro is committed to thorough exploration to unlock their full value.
Figure 1: Proposed Soil Grid-Lithium Assays
Figure 2: Location of 2022 drill holes
The duration of the Program is estimated to be 6-8 weeks, subject to weather conditions and fire restrictions in Quebec. Medaro is prepared to adapt and respond to any unforeseen challenges that may arise, ensuring the safety of its team and efficient execution of the exploration program.
Medaro is also pleased to announce that it has completed the exploration work at the Darlin property announced June 6th. Over 240 samples were collected and are currently at the laboratory awaiting analysis. Results will be announced when received.
Michael Mulberry, CEO of Medaro expressed his enthusiasm for the commencement of the 2023 exploration fieldwork program, stating, “We are thrilled to initiate the next phase of exploration on the Rapide Lithium Property. The positive results from the 2022 work have reinforced our confidence in the potential of this asset. Through the diligent execution of this year’s Program, we aim to build upon our previous discoveries and further define the lithium prospectivety of the Property. We also, excited to anticipate results from our recently completed program at the Darlin project 65 kilometers to the west, and will announce the results as soon as received. Medaro remains committed to advancing our exploration efforts and unlocking the inherent value within our portfolio.”
Medaro Mining Corp. will provide regular updates on the progress of the exploration fieldwork program as significant milestones are achieved. Stakeholders and interested parties are encouraged to follow the Company’s news releases and website for the latest information.
Afzaal Pirzada, P.Geo., a “Qualified Person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.
On Behalf of the Board of Directors
Michael R. Mulberry
CEO & Director
About the Company
The Company is a lithium exploration company based in Vancouver, BC. and holds options over the Superb Lake lithium property located in Thunder Bay, Ontario; Darlin, Rapide and the CYR South lithium properties in Quebec; and Yurichson Uranium property in the Athabasca basin Saskatchewan. The Company is a party to a joint venture agreement that engages the Company in the development and commercialization of a new process to extract lithium from spodumene concentrate.
For more information, investors should review the Company’s filings that are available at www.sedar.com.
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Program’s composition and the timing thereof are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.