Weekly Newsletter – Special Edition – Ukrainian Lithium

The ongoing conflict has significantly impacted Ukraine’s ability to exploit its mineral wealth. A substantial portion of these resources, including lithium deposits, are located in areas currently under Russian control or near active conflict zones, complicating exploration and extraction efforts. Additionally, the war has disrupted infrastructure and deterred foreign investment, further hindering mining initiatives Ukraine’s geological landscape is notably enriched with lithium-bearing minerals, primarily hosted within the Ukrainian Shield—a Precambrian crystalline basement known for its complex geological structures and significant mineral wealth. The country’s lithium deposits are predominantly associated with spodumene-bearing pegmatites and lepidolite-rich granites.

Major Lithium Deposits:

Polokhivske Deposit (Kirovohrad Oblast): Located near the village of Kopanky, this deposit is one of Europe’s largest hard-rock lithium resources. The ore body contains significant quantities of spodumene, with lithium oxide (Li₂O) content averaging around 1.3–1.5%.

Shevchenkivske Deposit (Donetsk Oblast): Situated in the Donbas region, this deposit is characterized by complex geological structures, with lithium reserves primarily in spodumene and lepidolite minerals. The estimated reserves are substantial, though specific figures vary.

Dobra Deposit (Kirovohrad Oblast): This deposit contains lithium-bearing pegmatites with significant spodumene mineralization. The geological complexity necessitates detailed exploration to fully ascertain its potential.

Kruta Balka Deposit (Dnipropetrovsk Oblast): Known for its lithium-rich pegmatites, this deposit also presents geological challenges due to its intricate structural geology.

Geological Characteristics:

The Ukrainian Shield’s ancient geological formations have undergone multiple tectonic events, leading to the emplacement of rare-metal pegmatites rich in lithium minerals. These pegmatites are often zoned, with lithium concentrations varying within different sections. The primary lithium minerals—spodumene and lepidolite—are typically associated with quartz, feldspar, and various accessory minerals, including tantalum and niobium oxides.

Patriot Battery Metals hits high-grade large Spodumene intercepts at CV5

Wide, high-grade spodumene pegmatite intercepts received from the extensive summer-fall 2024 in-fill drill program at CV5 complete the drill dataset required to support the upcoming Feasibility Study and maiden Ore Reserve:

153.8 m at 2.00% Li2O, including 55.4 m at 3.42% Li2O (CV24-733).

142.9 m at 1.77% Li2O, including 35.2 m at 3.36% Li2O (CV24-719).

186.0 m at 1.08% Li2O, including 11.3 m at 4.27% Li2O (CV24-704).

129.8 m at 1.36% Li2O, including 22.4 m at 2.45% Li2O (CV24-688).

142.3 m at 1.12% Li2O including 55.2 m at 2.19% Li2O (CV24-769).

118.4 m at 1.27% Li2O, including 41.5 m at 1.74% Li2O (CV24-693).

101.9 m at 1.75% Li2O, including 12.3 m at 3.43% Li2O (CV24-721).

106.7 m at 1.49% Li2O including 7.8 m at 4.39% Li2O (CV24-735).

119.8 m at 1.10% Li2O, including 41.8 m at 1.65% Li2O (CV24-707).

104.1 m at 1.08% Li2O, including 36.1 m at 1.59% Li2O (CV24-682).

100.5 m at 1.06% Li2O, including 15.0 m at 2.25% Li2O (CV24-730).

98.6 m at 1.76% Li2O, including 33.7 m at 2.40% Li2O (CV24-711A).

93.5 m at 1.71% Li2O, including 10.1 m at 3.00% Li2O (CV24-712).

53.9 m at 2.29% Li2O, including 32.5 m at 3.04% Li2O (CV24-703).

58.1 m at 1.14% Li2O, including 8.6 m at 5.28% Li2O (CV24-742).

The Shaakichiuwaanaan Property hosts a consolidated Mineral Resource Estimate (“MRE”) of 80.1 Mt at 1.44% Li2O Indicated and 62.5 Mt at 1.31% Li2O Inferred. The CV5 Spodumene Pegmatite, which forms the bulk of the MRE, is accessible year-round by all-season road and is situated approximately 14 km from a major hydroelectric powerline corridor.

The Rock Report Newsletter is proudly sponsored by Renforth Resources Inc. (CSE:RFR)

West Red Lake Gold Intersects 114.26 g/t Au over 10.6m

The drill results featured in this news release are focused on the high-grade South Austin Zone, which currently contains an Indicated mineral resource of 474,600 ounces (“oz”) grading 8.7 grams per tonne (“g/t”) gold (“Au”), with an additional Inferred resource of 31,800 oz grading 8.7 g/t Au.

Accessed through the Madsen Mine West Portal, the South Austin Zone sits south in the hanging wall of the main Austin Zone. Like the other mineralized domains that comprise the Madsen Mine, the South Austin structure is hosted within broad, kilometer-scale planar alteration and deformation corridors that have been repeatedly reactivated during gold mineralization and subsequent deformation and metamorphism.

At the deposit scale the Austin, South Austin, North Austin, and McVeigh Zones are locally folded and structurally dismembered by transposition and rotation into the penetrative S2 Foliation. In addition to this intense deformation overprint, the mineralized veins and alteration have been subjected to the relatively high temperatures of amphibolite facies metamorphism, which led to extensive recrystallization and growth of the skarn-like replacement mineral assemblage of diopside-amphibole-quartz-biotite.

All significant gold mineralization on the mine property is demonstrably early relative to the most significant, penetrative deformation (D2) and metamorphic events. The North Austin Zone displays ‘mine-style’ alteration and mineralization and consists of multiple mineralized domains defined over a strike length of 0.5km. Mineralization remains open at depth and along strike to the northeast.

Source: West Red Lake Gold

First Atlantic Nickel has reported a new discovery at Super Gulp, with the initial drill hole intersecting 0.25% nickel and 0.28% chromium over 293.8 meters.

Wide Interval of Nickel: The first drill hole at Super Gulp (AN-24-01) intersects 0.25% nickel and 0.28% chromium over its entire 293.8-meter length, with peak values reaching up to 0.32% nickel and 0.8% chromium.

These strong results confirm extensive nickel mineralization, initially observed as large-grain awaruite disseminated throughout the drill hole. This marks the first of five holes drilled in the Phase 1 program, with additional drill results pending. Alongside these promising drill results, Davis Tube Recovery (DTR) metallurgical testing is currently underway, with results expected soon. This testing aims to quantify magnetically recoverable nickel and evaluate the project’s suitability for magnetic separation as a commercial mining processing method.

Large Awaruite Grains: Assays confirm the presence of nickel-alloy (awaruite) throughout the drill hole, consistent with visual observations. Grain sizes reach up to 271 microns, well above the threshold for effective magnetic separation.

The Company is preparing for Phase 2 drilling to further delineate and expand the RPM Zone, which will begin shortly using the newly constructed road for direct access.

Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safer solution to enhance the resilience and security of North America’s domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching.

The Rock Report Newsletter is proudly sponsored by Renforth Resources Inc. (CSE:RFR)

Clean Air Metals Reports 21.4 m Grading 7.64 g/t Pt.eq in Latest Drilling Results

Assay highlights:

21.4 m of 2.71 g/t Pt, 2.41 g/t Pd, 0.53% Cu and 0.28% Ni(7.64 g/t Pt.eq1; 2.56% Cu.eq2) from 96 m downhole in Hole CL25-002, including

3.83 g/t Pt, 3.37 g/t Pd, 0.68% Cu and 0.34% Ni (10.39 g/t Pt.eq1; 3.48% Cu.eq2) over 5.75 m from 100.3 m, and

4.20 g/t Pt, 3.76 g/t Pd, 0.89% Cu and 0.34% Ni (11.86 g/t Pt.eq1; 3.97% Cu.eq2) over 6.4 m from 111.0 m

49.0 m of 1.57 g/t Pt, 1.46 g/t Pd, 0.32% Cu and 0.21% Ni(4.63 g/t Pt.eq1; 1.55% Cu.eq2) from 74 m downhole in Hole CL25-001, including

2.91 g/t Pt, 2.67 g/t Pd, 0.55% Cu and 0.29% Ni (8.15 g/t Pt.eq1; 2.73% Cu.eq2) over 8 m from 96 m, and

2.74 g/t Pt, 2.42 g/t Pd, 0.53% Cu and 0.27% Ni (7.66 g/t Pt.eq1; 2.57% Cu.eq2) over 9 m from 110 m

These new findings, in conjunction with the summer program’s results, validate the extensions of the mineralized subzones beyond the most recent resource model (NI 43-101 technical report on the Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19, 2023). This further reinforces our strategy of advancing a high-grade, high-margin moderate tonnage project.

The Rock Report Newsletter is proudly sponsored by Renforth Resources Inc. (CSE:RFR)

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