Toronto, Ontario--(Newsfile Corp. - October 16, 2024) - Weekapaug Lithium Ltd. (CSE: GRUV) ("Weekapaug" or the "Company"), a Canadian mineral exploration company focused on exploration and development, is pleased to announce it entered into a partnership with Aster Funds Ltd. ("Aster") on October 15th, 2024 to conduct a regional remote sensing gas survey over a 12,000 sq. km area including Weekapaug Lithium's current Ontario Hydrogen claims and the recent hydrogen discovery in Quebec to further identify specific hydrogen targets in the region. In addition to covering our northeastern Ontario claims, the company is embarking on an aggressive plan to cover additional lands in both British Columbia, and Alberta to define key areas of interest for further land acquisition. Aster will also utilize its QDFC Predictive Fingerprint Target Mapping algorithms and Artificial Intelligence which utilize the known hydrogen occurrences as trainers to outline target areas having a similar "spectral" response to QIMC's hydrogen occurrences. This will allow Weekapaug to develop the best possible exploration strategy and better understand the region's prospectivity for hydrogen and other gases. The survey area encompasses the main graben areas in Temiskaming.
"Working with Aster to conduct these surveys represents the beginning of our exploration program near QIMC's recent discovery," said Marc Branson, CEO of Weekapaug. "We were so impressed with the technology that we extended the program to assist us in identifying additional targets for Hydrogen in Ontario, Quebec, BC, and Alberta. Our goal is to establish a multi-provincial portfolio for hydrogen exploration."
Aster will also conduct Long Wave Infrared (LWIR) remote sensing surveys over a 3,600 sq km area in the Timmiskaming region with the focus on known kimberlites and cobalt/silver mineralization. Again, applying the QDFC Predictive Fingerprint target mapping algorithms on our current claims to evaluate for kimberlite and cobalt/silver potential.
The Company is also pleased to announce the grant of 1,500,000 restricted share units (each, an "RSU") to a consultant of the Company pursuant to the Company's equity incentive plan. Each RSU vests four months and a day following its grant and all of the RSUs (and any common shares issuable upon their settlement) are subject to a four month and one day hold period pursuant to the policies of the Canadian Securities Exchange and applicable securities laws.
About Aster Funds Ltd.
Aster Fuds Ltd. has conducted Spectral Analysis surveys over 550,000 sq kms in North and South America, Africa, Australia, Europe and Asia for private and public exploration companies. Spectral Analysis surveys help to identify various gases, mineral target areas for metallic, non-metallic and industrial including oil and gas deposit targets.
About Weekapaug Lithium
Weekapaug Lithium Limited is a junior exploration and development company focused on identifying, acquiring, and exploring Canada's extensive natural resources portfolio. Our focus is currently developing our 100% owned Nakina Lithium and Firstbrook Hydrogen properties located in Northern Ontario, Canada.
On Behalf of the Board of Directors,
"Marc Branson"
CEO and Director
Email: investors@weekapaug.ca
Website: weekapaug.ca
Phone: 604-816-2555
Forward-Looking Information and Cautionary Statements
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: continued exploration program at the Company's properties and assumptions regarding the Claims.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company's ability to continue exploration program for its properties and assumptions regarding the Claims.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to the Company's inability to continue exploration program for its properties and incorrect assumptions regarding the Claims.
Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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SOURCE: Weekapaug Lithium Limited
