VANCOUVER, British Columbia, April 06, 2018 (GLOBE NEWSWIRE) -- Chimata Gold Corp. (TSX.V:CAT) (“Chimata” or the “Company”) announces that the Company has filed an NI 43-101 Technical Report (the “Provisional Report”) available on www.sedar.com for its Kamativi Lithium Tailings Project (the “Project”) in Zimbabwe as per the announcement made on March 6, 2018. The Provisional Report was completed in order to further define the scope of the lithium deposit on the Kamativi Lithium Tailings property (the “Property”) and to better understand the potential of the upcoming work being completed on the potential Mineral Resource, as this term is defined in NI 43-101 Respecting Standards of Disclosure for Mineral Projects (“NI 43-101”).
The Provisional Report reveals an exploration target on the Property with a volume range of 14,800,000 to 15,080,000 cubic meters and a tonnage range of between 23,000,000 to 25,000,000 metric tonnes of tailings material can be reported ranging from 0.40% - 0.84% Li2O, the Kamativi Tailings Stockpile (“KTS”). The potential tonnage and grade is conceptual in nature as there is insufficient exploration data to define a Mineral Resource, as this term is defined in NI 43-101. The Company cautions that further exploration may not result in the delineation of a Mineral Resource estimate.
ON BEHALF OF THE BOARD
Chairman and Interim President and CEO
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, or by contacting the Company directly at (604) 674-3145.
This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with planned production, including the ability of the company to achieve its targeted production outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek safe harbour.