June 21, 2023
Critical Elements Lithium Corp. (TSXV:CRE, BUY, C$6.00 target, David A. Talbot) reported results from its 31-hole (5,554m) winter drill program at its Lemare Li-pegmatite project in the James Bay region of Quebec. The program was designed to confirm lithium mineralization at depth and along trend of the main spodumene-bearing pegmatite. Highlight intercept included 1.04% Li2O and 67.91 ppm Ta2O5 over 33.85m, including 1.42% Li2O and 74.24 ppm Ta2O5 over 18.8m (LE-23-32). The prospective spodumene pegmatite trend now extends for 2.2km as drilling confirmed a 400m extension to the SW and a 500m extension to the NE. The main pegmatite is NE-SW trending, cut by at least two N-S trending faults, and features quartz-feldspar-muscovite and a second pegmatite is sub-parallel to the main pegmatite, fine-grained, quartz-felspar rich, typically lower grade and sporadically mineralized. The machine learning models and surface sampling results indicate that the LCT pegmatite trend could extend up to 5km, but only the 2.2 km of the trend has been drill tested. Critical Elements continues to advance the Lemare project toward an initial resource estimate while demonstrating the potential of new targets highlighted via machine learning, or artificial intelligence. Summer mapping and surface sampling followed by additional drilling is planned once Crown forests in the Nemaska Belt project area are re-opened following the closure because of forest fires. Positive results from additional exploration at Lemare could play a key role in extending the life of its primary Rose Li project. Read more
Company Specific Disclosure Details
Critical Elements Lithium Corp. – TSXV:CRE – 3
- The analyst has visited the head/principal office of the issuer or has viewed its material operations.
- The issuer paid for or reimbursed the analyst for a portion, or all of the travel expense associated with a visit.
- In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services for the issuer.
- In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or an analyst involved in the preparation of the research report has provided services other than in the normal course investment advisory or trade execution services to the issuer for remuneration.
- An analyst who prepared or participated in the preparation of this research report has an ownership position (long or short) in, or discretion or control over an account holding, the issuer’s securities, directly or indirectly.
- Red Cloud Securities Inc. and its affiliates collectively beneficially own 1% or more of a class of the issuer’s equity securities.
- A partner, director, officer, employee or agent of Red Cloud Securities Inc. serves as a partner, director, officer or employee of (or in an equivalent advisory capacity to) the issuer.
- Red Cloud Securities Inc. is a market maker in the equity of the issuer.
- There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared or participated in the preparation of the research report, and the issuer.
Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.
