FULL DISCLOSURE: This is sponsored content for Hertz Lithium.
Initial fieldwork has yielded positive results for Hertz Lithium (CSE: HZ) at its recently acquired AC/DC project in the James Bay Region of Quebec.
The initial program, which was conducted over the waning days of the 2023 exploration season, consisted of 3.5 workdays of Hertz’s exploration team following-up on twelve priority targets from a recent survey conducted.
“With the help of Dahrouge Geological and Mercator Geological, we were able to assemble an exploration crew to rush onto the property during the final workdays of the exploration season. With only 3.5 workdays on the ground before the weather in James Bay turned adverse, we were able to target some very high-priority targets on the property and complete initial prospecting,” commented CEO Kal Malhi.
The program, which was conducted by Dahrouge Geological and Mercator Geological, identified at least 7 pegmatite occurrences under the maiden program. The identified pegmatites include what is referred to as Target 7, which measures 100 metres in length on the surface, is 5-10 metres wide and 5 metres thick. A total of 10 outcrop and rock samples were completed over the course of the program, with assay results expected to be received in 4-6 weeks.
From a mineral perspective, the pegmatites are said to have compositions that include white to pink feldspar, grey quartz, trace biotite and red garnet. Also of note is the presence of tourmaline within Target 9, where veins were up to 50 cm wide. The presence of tourmaline is said to enable the possibility of a LCT-type pegmatite system on the property.
The AC/DC project, found 26 kilometres to the southeast of Patriot Battery Metals’ Corvette property, consists of 516 contiguous claims covering 265 square kilometres, and is adjacent to Rio Tinto’s Kaanaayaa Lithium Project.
Hertz this morning also revealed it intends to conduct a $2.0 million flow through financing, with charity units to be sold at $0.38 per each. Each unit is to consist of one common share and one purchase warrant, which contains an exercise price of $0.40 and is valid for a period of two years.
Proceeds from the financing are to be used for exploration of the AC/DC property, including the completion of a LiDAR survey and high-resolution ortho imagery of the project.
Hertz Lithium last traded at $0.265 on the CSE.
FULL DISCLOSURE: Hertz Lithium is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Hertz Lithium. The author has been compensated to cover Hertz Lithium on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.