Tearlach hits claystone stratigraphy at Gabriel

Mar 6, 2023

2023-03-06 08:33 ET – News Release

 

Mr. Morgan Lekstrom reports

TEARLACH RESOURCES ANNOUNCES DRILLING UPDATE ON GABRIEL PROJECT IN NEVADA AND CANCELLATION OF BROKERED PRIVATE PLACEMENT FINANCING

Tearlach Resources Ltd. has intersected thick zones of claystone stratigraphy in twin and stepout holes with total holes depths of up to 140 metres (460 feet), which host the lithium mineralization, and drilling an expanded area of five kilometres by 3.2 kilometres, previously discovered by Black Rock Silver Corp., at the Gabriel project in the Tonopah area of Nevada. The company will not be proceeding with the brokered private placement financing announced on March 2, 2023.

Drilling Update:

 

  • The Company’s project is near one of the largest known lithium deposits** in America, American Battery Technology Company (OTC: ABML), who very recently announced this. As well as next to American Lithium Corp’s TLC project.
  • Six core holes have been completed, of which laboratory analysis for two (2) are being rushed. The drill core for five (5) of the holes has currently been submitted to the ALS Laboratory facility in Reno, Nevada, and assay results are pending.
  • Four (4) of the six (6) holes have twinned original Black Rock Silver’s holes.
  • The remaining two (2) drilled holes are step-outs located in prospective areas of the property.
  • All drill holes have intersected mappable claystone stratigraphy.
  • Drilling of the 19-hole program is ahead of the forecast schedule as core recovery and penetration rates are higher than predicted.

 

Note 1: ** Mineralization on the adjacent or nearby property does not indicate mineralization on Gabriel Property.

Morgan Lekstrom, CEO of Tearlach, comments, “The Company believes that it is in the best interest of our shareholders not to proceed with the financing announced on March 2nd, 2023. Our current financial position allows us to complete the existing work programs due to the cost decrease and drilling rate increase that our world-class geology and drilling team has been able to achieve. This is an important step for Tearlach in becoming a major player in the lithium space in the USA and Canada.” He added, “The Tonopah lithium belt is quickly gaining worldwide prominence as both our neighbours, American Lithium Corp. and American Battery Technology, have established their lithium deposits as two of the largest in the United States.** Early drilling at Gabriel suggests significant mineralized potential. The sheer size potential of this area and the recent size of the resources in the Tonopah area between American Lithium and ABML, to which we adjoin and are near, signifies that this is becoming the largest and premier lithium hub in America.** Our ability to execute in such short timelines and accelerate drilling programs makes this the ideal time to continue building off the BRC original discovery.”

Qualified Person:

Mr. David Flint, CPG with AIPG., Director of the subsidiary Pan Am Lithium (Nevada) Corp, and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About Tearlach

Tearlach, a member of the TSX Venture 50, is a Canadian exploration company engaged in acquiring, exploring, and developing lithium projects. Tearlach has a Joint Venture agreement with Blackrock silver on the Gabriel project in Tonopah, Nevada, bordering American Lithium’s TLC Deposit, and is aggressively exploring the lithium targets previously identified by drilling. Tearlach holds an option to acquire a 100% interest in the Savant Property, an exploration stage Gold-Silver-Copper Property in Northwestern Ontario, subject to a 1.5% net smelter royalty. Tearlach holds an interest in the Final Frontier Project, which includes the Pakwan / Margot Lake Claim block, which is directly contiguous to Frontier Lithium’s Flagship Spark and PAK deposits, as well as interests in the Wesley, Harth and Ferland properties, all located in the lithium hub of northwestern Ontario, Canada. The Wesley Property borders Green Energy Metals’ Root Lake Project, where a 24,000 m drill program is currently underway. Pegmatite dykes have been encountered on the Harth Lithium Project, which is 8 kms west of the Wesley Lithium Project. Tearlach also holds interests in Fliszar, Muscovite Ridge and Rose North Properties in the James Bay area of Quebec, and each property hosts pegmatites. Tearlach also has interests in “The Shelby Project” properties in Quebec’s James Bay Region near Winsome Resources and Patriot Battery Metals. Tearlach’s primary objective is to position itself as North America’s leading lithium exploration and development company. For more information, please get in touch with the Company at [email protected] or visit our website at www.tearlach.ca for project updates and related background information.

We seek Safe Harbor.

https://tearlach.ca/

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