Kelowna, British Columbia–(Newsfile Corp. – May 3, 2023) – Enertopia Corporation (OTCQB: ENRT) (CSE: ENRT) (“Enertopia” or the “Company”) a company focused on building shareholder value through a combination of our Nevada lithium claims, intellectual property, & pending patents in the green technology space, is very pleased to provide the following lithium project update.
We are happy to report the assay results from the first 5 holes of our 12-hole 2023 drilling program. Our first drill hole, DH23-01, recorded the highest Lithium assay reported to date from our West Tonopah (WT) Li project intersecting 1,520 ppm Li over five feet, inside a larger zone that averaged 1,029 ppm Li over a 110-foot thickness, from 243 feet to 353 feet in depth.
Below is the drill assay table for the assay results received to date as well as the summary and interpretation for the respective holes reported today.
NOTE: All above intervals used a minimum 300 ppm Li cutoff limit unless otherwise noted in comments.
Summary from the above drill holes:
In 2022, we were successful in discovering an area of green claystone ranging from 15 feet to 130 feet below the surface. All holes bottomed in Li claystone and were open at depth. Our goal for the 2023 drilling program was to better define the zones of higher-grade lithium, and build upon the grade, thickness and areal extent of Li claystone distribution encountered in last year’s program.
DH23-01 was a 400 foot, step out to the east from hole DH22-07 drilled last year. DH23-01 not only increased the aerial extent of the deposit but also increased the known thickness by 280 feet with the best grades intersected thus far on the project.
DH23-03 was drilled on a line between DH22-01 and DH22-05, 500 feet NNW from DH22-01. We expected this hole to confirm the grades intersected last year from DH22-01 and 05. But the returned grades were lower than expected at this location.
DH23-09 was drilled 2,950 feet SSW from DH22-10 to test the southwest part of the WT project area. It confirmed the Li claystone is widespread and still open at a depth of 317 feet. Four intercepts of over 1,000 ppm were intersected in this hole in the interval from 205 – 3110 feet.
DH23-08 and DH23-12 were drilled 975 feet and 1,500 feet east respectively of DH23-09 to test for the eastern extent of the higher-grade part of the deposit. Early analysis indicates potentially higher grades remain at depth as both holes ended with their highest ppm Li values being 750 ppm and 800 ppm Li respectively at the (EOH).
We look forward to the assays for the remaining seven holes. These holes were drilled on the western margin of the property into what we believe may be the continuation of the higher-grade zone similar to that observed in hole DH23-01. In addition, by using a sonic rig that provided a 4 inch core we have been able to preserve a large bulk sample inventory of Li claystone material that will be used for 3rd party testing going forward.
WT Project Drill Hole Location Map
Inaugural 43-101 report
Upon completion of the 2023 drilling program (and once all assays are received), the Company will commission the writing of an inaugural 43-101 report for the West Tonopah Project, which covers 1,760 acres.
“I am extremely pleased with the drill hole data to date as we are getting a better understanding of the Lithium claystone deposit. We look forward to a steady stream of news and advancements in 2023 not only from Enertopia but also from other Companies operating in the immediate area as work progresses. We are very encouraged by the recent drilling programs taking place near our property boundary including American Battery Technology Company who recently released on February 28, 2023 their 43-101 with an inferred resource of 15.3 million tonnes of LCE (lithium carbonate equivalent) using a 300 ppm li cutoff with an average grade of 561 ppm li,” stated President Robert McAllister.
For additional project details please visit our website at https://enertopia.com/
The Qualified Person:
The technical data in this news release have been reviewed by Randy Henkle, P. Geol. a qualified person under the terms of NI 43-101.
On April 17th and April 18th, I, Randy Henkle, QP for this project visited the project and observed the drilling and sampling operations at DH23 -02. I also visited the sample storage facility for the project. All drilling and sampling operations that I observed were in compliance with CIMM Best Practice procedures.
All samples were submitted to ALS Global in Reno, Nev., for analysis by ME-ICP61 plus Lithium. standards were inserted into the sample sequences at random intervals.
Defines itself as an Environmental Solutions Company focused on using modern technology on extracting lithium and verifying or sourcing other intellectual property in the EV & green technologies to build shareholder value.
Enertopia shares are quoted in the United States and Canada under ticker symbol ENRT. For additional information, please visit www.enertopia.com or call Robert McAllister, the President at 1-888-ENRT201.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, potential and financing of its mining or technology projects, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions that are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements., foreign exchange and other financial markets; changes in the interest rates on borrowings; hedging activities; changes in commodity prices; changes in the investments and expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Enertopia Corporation operates. There can be no assurance that the drilling will result in an economic deposit or have any positive impact on Enertopia. There can be no assurance that the four pending patents will become patents and have a positive impact on Enertopia. The User should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Enertopia Corporation from time to time with regulatory authorities.
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