Global Li-Ion Graphite Corp. (“Global Li-Ion” or, the “Company”) (CSE: LION) is pleased to report that it has completed plans and arranged for a field due diligence and initial ground exploration program of the MVZ Silver Mine Property in Chihuahua state, Mexico. The Property is the subject of a recent letter agreement with Grupo Minero Diflor S.A. de C.V., a private Mexican Company, to acquire a 100% interest.
The 1750-hectare Property hosts 3 past producing silver-gold deposits, El Moro, La Virginia and La Zorra (MVZ Property). The Property is situated within Grupo Minero Diflor’s Pajarito Project which covers a 10 X 25 km, fault-bounded exposure of older sediments and intrusives surrounded by voluminous younger post-mineral rhyolites. The Pajarito Project covers a large mineral system with widespread epithermal mineralization and multiple examples of porphyry-style potassic and propylitic alteration. The older rocks are broadly altered and host artisanal mines. In the silver dominant MVZ triangle, breccia and intense shear-hosted sulfide mineralization has silver values up to +1,000 grams per tonne silver, multiple percentages of lead and zinc with gold credits.
The field examination will include confirming the location of the claim monuments (mojaneras), sampling of the historic mines to confirm visually and with assays the presence of significant sulfide mineralization documented in prior historical work. In addition, the field crew will undertake reconnaissance traverses to establish both the size and scale of the mineral system and the local geologic framework which will assist with the geophysical interpretation. All field work will be done under the direct supervision of William Feyerabend CPG, the Company’s QP for the Project.
President John Roozendaal states, “We are excited to get an initial program underway at our Mexican Silver Mine Property with actual “boots on the ground” in spite of the challenges being faced by exploration Companies working today in the era of Covid restrictions. The Company feels confident it can move forward successfully with exploration activity on our Mexican project due to the team of technical personal we are building in Mexico, Arizona and Canada, to guide and execute field programs and surveys.”
The MVZ Silver Mine Property: The Property is located in the south west of Mexico’s Chihuahua State within the prolific Sierra Madre Gold-Silver Belt, host to numerous multi-million-ounce gold-silver deposits. The Sierra Madre Belt is prolific country for silver-gold explorers. In this portion of the Belt are the following past and present producers. The MVZ Silver Mine Property is located 60km south of the Gold Corp’s past producing 1.75M ounce El Suazal Gold Mine, is located 85 KM north of McEwen Mining Inc., Fenix Project (El Gallo) which reports a measured and indicated resource of 32.3 M oz of Silver and is 100 km northwest of historic Guadalaupe y Calvo mine which produced 2 M oz gold and 35 M oz silver.
The property is road accessible to the Pacific port of Los Mochis located 125km to the west and which has air, rail and Interstate service. Its location within the North American trading region and proximity to the west coast of Mexico with its deep-water ports for shipping, electrical power and transportation infrastructure are also important considerations for acquisition of the Property. Mexico is one of the most attractive destinations for mineral exploration and mining finance today and has a long history as a major producer of silver.
The outlook for both Silver remains incredibly positive. and Silver is of particular interest given its historic demand as a store of value and as a significant material in the manufacture of many Green technologies.
The technical content of this news release has been reviewed and approved by William Feyerabend B.Sc., CPG and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.