Phase 1 & 2 Drilling

ZORO Drilling Program – Phase 1 & 2 Results

ZORO Chart 1 v3
Zoro Chart 2 V3
Zoro Charts 3 V3

The historical estimate of 1.8 million tonnes grading 1.4% Li2O is from 1956 for the main dyke (Dyke 1) on the Zoro Lithium property to a depth of 305 metres (1,000 feet) as reported by R. Mulligan, 1965: Geology of Canadian Lithium deposits; Geological Survey of Canada, Economic Geology Report No. 21, p. 80-82. The key assumptions, parameters, and methods used to prepare this historical estimate are unknown and it is only one of a number of varying historical estimates for Dyke 1. The final reported historical estimate for Dyke 1 consists of 1,287,550 tons grading 0.967% Li2O to a depth of 660 feet vertically below surface outcrop plus a possible 440,000 tons grading 0.882% to a depth of between 660 feet and 880 feet below outcrop for a total undiluted tonnage of 1,727,550 at 0.945% Li2O, using a dilution factor of 5% (Huston, C.C., Progress Report on Lithium Property, Herb Lake, 1956). However, these historical estimates were based on limited drilling and the historic assay database was not accompanied by a quality assurance and quality control program and sampling and analytical specifics were not reported making the data utilized in formulating the historical estimates limited in its reliability. In addition, no Li2O has been produced from the historical estimates. For these reasons, among others, the historical estimates should not be relied upon as a guarantee of mineral resources or mineral reserves. Actual resources or reserves, if any, may differ significantly. Re-logging of historic drill core to the extent possible, together with detailed geological mapping and additional diamond drilling to confirm the extent of the lithium-mineralized pegmatite at depth and along strike will be required to upgrade or verify the historical estimates as current mineral resources or mineral reserves. The historical estimates are, however, relevant as a guide to future exploration.

MOVING FORWARD TO DEFINE RESOURCES:

PROSPECT AND DRILL

A winter drill program will be used to assess the deeper levels (>150 m) of Dyke 1 in order to confirm the extension of high-grade lithium spodumene. This winter drill program will also be used to test historic high-grade lithium drill intersections, as well as recent assay results from trench and outcrop sampling at Dykes 5 and 7. Additionally, areas of anomalous lithium, tantalum and niobium in soils from overburden-covered areas adjacent to known pegmatite dykes including Dykes 5 and 7 will be drill tested.

Phase 1 Drilling Results – Fall2016 – Pegmatite Samples

Phase 1 Drilling Results – Fall2016 – Gold Samples

Phase 2 Drilling Results – Spring2017 – Pegmatite Samples