Exploration Work Outlines Primary Target At Columbus Project

VANCOUVER - Canter Resources Corp. reported on exploration work, current and previously completed at the Columbus Lithium-Boron Project. In addition, including the current interpretations and targeting concepts that will underpin a Phase I drilling campaign that is expected to commence in early 2024.

This basin or playa lakebed was the site of historic borate production. Importantly, the Columbus Basin is unique in that it is structurally and hydrologically enclosed by the surrounding volcanic source rocks, indicating that any lithium, boron and potassium mineralization that has leached into the Columbus Basin over the past 23 million years has had nowhere to escape.

The core drillhole (LUN-22-001) was drilled vertically with a dip of (-90) to a depth of 2,182 feet (ft) (665 metres (m)). Analysis showed an average of 471.2 ppm lithium (Li), 2,508.2 ppm boron and 1.07% potassium from top-to-bottom, including significant intervals within: 772.9 ppm Li over 160 ft (49 m) from 500 ft depth (152.4 m); 877.14 ppm Li over 67 ft (20.4 m) from 708 ft depth (215.8 m); and 1,237.5 ppm Li over 20 ft (6.1 m) from 810 ft depth (246.8 m). Reported samples ranged from a low of 90 ppm Li to a high of 1,600 pm Li. All reported assays were from sediment/clay samples, with no brine samples reported, however, logging and summary reports note that a series of aquifers were encountered (see Figures 2-3 for Luna drillhole location). Canter is unaware of any drilling, sampling, recovery or other factors that could materially affect the accuracy and reliability of this drillhole data.

"The Columbus Lithium-Boron Project presents a compelling case for significant lithium mineralization in brines given its strategic location, geological setting, and promising geochemical profile," said, CEO Hani Zabaneh. "As the world's demand for lithium in electric vehicles and energy storage increases, the need to secure a reliable, sustainable, and domestic supply becomes more critical, and we are committed to advancing Columbus and building a high-quality portfolio of critical metals projects in support of that objective."