First Energy Metals Ltd. (CSE: FE) announced this morning assay results at its Augustus lithium property in Quebec. The results highlighted an intersect of 1.35% lithium oxide over 7.0 metres.
The highlight result came from drill hole LC21-21 included average lithium values of 6,261 parts per million.
The results also include a second 5-metre wide intersection of 0.4% lithium oxide, with average lithium values of 1,861 parts per million.
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The mining firm also announced a $2.0 million private placement from issuing 8.0 million company units at $0.25 per unit. Net proceeds from the offering are intended for the exploration and development of the firm’s properties and for general working capital.
First Energy Metals last traded at $0.25 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
