Cullinan Metals completes ground exploration at Lac

Dec 11, 2023

2023-12-11 12:22 ET – News Release

 

Mr. Marc Mori reports

CULLINAN METALS IDENTIFIES GRAPHITE MINERALIZATION IN THE EXTENSION OF LDI GRAPHITE MINE IN QUEBEC

Cullinan Metals Corp. has successfully completed a ground exploration program at its Lac-des-Iles West graphite property in Quebec, Canada. Focus of the program was a follow up ground checking of the two of the most promising airborne geophysical targets, T1 and T2, identified immediately to the north of the Lac des Iles graphite mine (” LDI “), which is currently owned by Northern Graphite Corp. (TSX-V: NGC) (see Figure 1 below).

Highlights

The program successfully identified graphite mineralization with geological similarities to LDI, showcasing graphite content typically ranging from 1-15% Cg, with occasional thin veins of massive graphite.

Trenching and overburden stripping work was also conducted on both conductors T1 and T2 which uncovered graphite mineralization, a part of which was extended to the edge of the Property on the adjacent LDI mine.

During the present field investigations, a total of 60 rock samples were collected from the Property and have been sent to an independent accredited laboratory, “ACTLABS” in Ancaster Ontario, for assaying.

Access negotiations with surface landowners were successfully completed providing the necessary access for exploration work on the identified targets.

The program laid the groundwork for planning drill holes in the next phase of exploration, aimed at verifying the continuity of large flake surface graphite mineralization at depth and along strike. Target areas T1 and T2 boast dimensions of 500 m in the east-west direction and over 1,000 m long in the north-south direction.

Mr. Marc Morin, CEO of Cullinan Metals Corp., expressed his enthusiasm for the recent developments, stating, “The positive outcomes from our Lac-des-Iles West exploration program mark a significant milestone for Cullinan Metals. Identifying graphite mineralization with similarities to the existing LDI mine underscores the potential of our property and positions us strategically in the growing graphite market. We are particularly encouraged by the successful negotiations with landowners, allowing us to proceed with our exploration plans. The forthcoming assay results from the rock samples and the planned drill holes in the next phase will be crucial in advancing our understanding of the Property’s graphite potential. This is an exciting time for Cullinan, and we look forward to building on these achievements as we continue to unlock the value of our assets.”

Figure 1: Airborne geophysical survey map showing graphite exploration targets including T1 and T2.

Photo of individual flake size (2023 fieldwork photo)

Photo: Graphite mineralization on T1 (2023 fieldwork photo)

About the Lac-des-Iles West Graphite Property

The property is in Bouthillier township in Saint-Aime-du-Lac-des-Iles area adjacent to the western and northern limit of the LDI Graphite Mine approximately 17 kilometers southwest of the town of Mont-Laurier on NTS map sheet 31J05. The property is locally accessible through a series of forestry service roads and the main Village Road 0 (Chemin du Village 0) that cuts through the property, connecting the property to Highway #309 which is about two kilometers east of the property. Geologically, the Lac-des-Iles West Graphite property is within a geological setting very similar to the LDI Graphite Mine. The LDI Graphite Mine is associated with paragneisses, biotite gneisses and marbles. The area is mainly underlain by Precambrian metasedimentary rocks of the Grenville Series comprised of quartzofeldspathic, garnetiferous paragneiss, and marble beds.

Qualified Person

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.

We seek Safe Harbor.

https://www.cullinanmetals.com/

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