GOLDREA RESOURCES COMPLETES SAMPLING PROGRAM AT GASPE LITHIUM PROJECT

Sep 15, 2016

Goldrea Resources Corp. has completed a reconnaissance sampling and mapping program at its 100-per-cent-owned Gaspe lithium property near the town of Gaspe, Que.

Outcrop and stream sediment samples have been submitted to Activation Laboratories in Timmins, Ont. Results from the program will be released along with a detailed geological interpretation.

“The results from this survey will provide our team with a better understanding of the extent of mineralization on our Gaspe lithium property. Based on this knowledge, Goldrea can determine calculated steps to enhancing this promising property,” stated Jim Elbert, chief executive officer.

The Gaspe lithium project is located approximately 75 kilometres northwest of the city of Gaspe, Que., in NTS map sheet 22H03 and covers historically reported elevated lithium values obtained from stream sediment samples. The property is readily accessible, lying approximately three kilometres from Quebec Route 198. The area is underlain by Cambrian to Lower Ordovician metasedimentary rocks of the Riviere-Ouelle and Trois-Pistoles formations. Lithological units are mudrock, sandstone, conglomerates and limestones.

The highest recorded historical stream sediment sample from the Gaspe lithium property returned a value of 159 parts per million Li(1). For reference, the SIGEOM sediment sample database contains only five samples that exceed 150 ppm for the entire province of Quebec. Additionally, the highest assaying lake sediment sample near Nemaska Lithium Inc.’s proposed Whabouchi lithium open-pit resource returned a maximum of 10.9 ppm Li(2).

In addition to the 159 ppm sample taken from the property, another three stream sediment samples within the property boundaries include (using the first sample as a reference point for location): 105 ppm Li located 200 metres to the west(3), 24 ppm Li located 400 metres to the west(4) and 26 ppm Li located 700 metres to the north(5).

The technical contents of this release were approved by Case Lewis, PGeo, an independent consultant to the company and a qualified person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.

References

(1) SIGEOM sample 1992011379 — stream sediment/heavy mineral sample.

(2) SIGEOM sample 1957012628 — lake sediment sample.

(3) SIGEOM sample 1992012530 — stream sediment/heavy mineral sample.

(4) SIGEOM sample 1992012528 — stream sediment/heavy mineral sample.

(5) SIGEOM sample 1992012531 — stream sediment/heavy mineral sample.

(6) “A preliminary deposit model for lithium-cesium-tantalum (LCT) pegmatites,” U.S. Geological Survey open file report 2013-1008.

(7) SIGEOM sample 1992012536 — stream sediment/heavy mineral sample.

Incentive stock options

The company also announces the issuance of 1.5 million incentive stock options to its directors, officers and consultants buy Goldrea shares at 10 cents per share over a period of five years. These options will be used as incentive for the further advancement of the company.

http://goldrea.com/news-releases/