Jupiter Lithium Property
VANCOUVER, BRITISH COLUMBIA – Vancouver, British Columbia, | May 4th, 2023 – Green Battery Minerals Inc. (“GEM” or the “Company”) (TSX-V: GEM, FSE: BK2P, WKN: A2QENP OTC: GBMIF) is pleased to announce it has optioned the “Jupiter Lithium Property” located (175 km) southeast of Radisson, Quebec, and approximately 25km from the Eleonore Mine Airstrip.
Tom Yingling, President and CEO of Green Battery, states, “This is an exciting move aimed at reducing supply shortages within the North American EV battery space. Expanding our exploration activities to include lithium, one of the most critical elements in a Lithium-ion battery (“LiB”), is a natural extension of our current activities in graphite. This move is also made to secure our own supply of lithium as we progress towards developing the next generation of graphene-based LiBs. These LiBs show great promise compared to regular LiBs, including higher capacity, shorter charging cycles, greater longevity, as well as reduced size and lower weight.”
Mr. Yingling continued, “The Jupiter property is literally surrounded by some of the biggest lithium deposits in North America. The fact that we have up to 33 outcropping pegmatites, with up to 315 ppm lithium sampled on the adjacent property to these pegmatites, gives us a valid reason to be excited. These pegmatites have never been sampled for lithium or REE’s and we look forward to proceeding with an aggressive summer exploration program. Together with the work already done at our graphite projects, GEM is positioned exceptionally well to capitalize on the enormous opportunity created by the EV revolution”
JAMES BAY LITHIUM COMPANIES IN QUEBEC (Peers)
May 1st 2023
COMPANY | SYMBOL | Market CAP | 52 week hi -lo | Stage | Current Price | Dist. from GEM | PROPERTY Name |
Nemaska Lithium (Owned by Livent, which is owned by Albemarle Corp) | Private |
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| Under construction |
| 60 kms | Whabouchi |
Brunswick Explor | BRW | $160mill | $0.16-$1.17 | Early explor | $0.92 | 3 kms | James Bay |
AllKem | ASX:AKE | $7.8 bill | $9.32-$16.75 | Full feas. 19 year mine life | $12.20 AUS | 40kms | James Bay |
Patriot Minerals | PMET | $1.29 Bill | $1.58-$17.69 | Exploration | $13.90 | 175 kms | Corvette |
Critical Elements | CRE | $530mill | $1.20-$3.03 | Mine permited | $2.25 | 25kms | Rose Mine |
Q2 Metals | QTWO | $44 mill | $0.08-$1.23 | Early explor | $0.60 | 100 kms | Mia |
Winsome Resource (Property: Cancet ) | ASX:WR1 | $213mill | $0.175-$2.52 | Early explor | $1.37 AUS | 120kms | Cancet & Sirmac-Clapier |
GREEN BATTERY | GEM | $5mill | $0.035-$0.155 | Early Explor | $0.07 | 0 | Jupiter |
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The Jupiter Property
The Jupiter Property was optioned to explore for Lithium (LCT) Pegmatites, and Rare Earth Elements (“REE”). The property is an early-stage exploration opportunity which comprises a total of 122 Quebec mineral exploration claims which amount to a total of 6406 hectares. Up to 33 pegmatite occurrences have been identified by government mapping completed over the property. Rock samples collected adjacent to the property returned up to 315ppm lithium. These claims are strategically located within the James Bay lithium prospectivity area within which are the Nemaska Lithium, James Bay Lithium and Rose Critical Elements deposits. The Jupiter Property fulfills the Companies goal of providing additional battery elements that go into Lithium-Ion batteries.
Property Highlights
- The Jupiter property is located within the La Grande geological sub-province, near the boundary with the Opinaca Sub province the within a favourable host rock comprising “typically porphyritic and magnetic tonalite; with minor injections of pink pegmatite”.
- Up to 33 pegmatite occurrences have been identified by government mapping completed over the property. Rock samples collected adjacent to the property returned up to 315ppm lithium.
- The acquired claims are located over regionally elevated lake bottom sediment geochemical anomalism for Lithium, with values up to 100ppm along the down ice trend of the property.
- Float Plane and Helicopter accessible, approximately 175 km south of Radisson, and 25 km southwest of the Eleonore Mine and Airstrip. The northern infrastructure corridor comprising ‘Rte de la Baie-James’ provincial highway and three Power transmission lines is located approximately 35 – 50km east of the property.
Transaction Terms:
In consideration for optioning the Jupiter Property, the Company has agreed to pay the vendor $50,000 within 5 days of signing and an additional $250,000 before October 21, 2024. In addition to cash payments, the Optionee agrees to incur $100,000 of work expenditures by December 31, 2023 and an additional $500,000 of work expenditures by October 21, 2024. The Optionor will retain a 2% NSR, 1% of which can be reduced for $1,500,000 any time prior to commercial production. The terms of the agreement are subject to the approval of the TSX-V.
