Wheeler

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Voltage Metals Corp Reviews Data from its Newfoundland Nickel-Copper-PGE-Cobalt-Chromium Project and Outlines Next Steps

TORONTO, May 31, 2022 /CNW/ – Voltage Metals Corp. (CSE: VOLT) (OTC: VLTMF) (the “Company” or “Voltage”) is pleased to provide this update on the Company’s 100% owned Wheeler Project in Newfoundland.

Voltage Metals Newfoundland Wheeler Project (CNW Group/Voltage Metals Corp.)
Voltage Metals Newfoundland Wheeler Project (CNW Group/Voltage Metals Corp.)

The Wheeler property (“Wheeler”) is situated on the west coast of Newfoundland, 25 kilometres north of the deep-water port town of Stephenville. The property covers the southern extent of the Bay of Islands ophiolite complex and is composed of mafic and ultramafic assemblages dominated by gabbros, pyroxenites and peridotites. The target on the Wheeler property is magmatic Ni-Cu-PGE (plus Co-Cr) mineralization hosted within a mafic intrusion, similar to Norilsk in Russia, Lynn Lake and Namew Lake in Manitoba, Nkomati in South Africa, and Voisey’s Bay in the province of Newfoundland and Labrador.

Wheeler includes the locations of extremely anomalous lake-sediment samples collected as part of the federal and provincial government’s lake-sediment survey (a 35,768 lake-sediment sample database) including the four highest nickel values in the province with values of 4,980, 4,750, 4,390 and 4,230 parts per million (ppm) Ni (nickel), respectively. The property also hosts copper, chromium and cobalt sediment values that are in the 99.9th percentile of the same dataset.

In August of 2021 the Company completed a 726-line-kilometre VTEM airborne geophysical survey at Wheeler, flown by Geotech Ltd, on northeast-southwest-oriented lines spaced 200 metres apart. Recent interpretation of that survey has identified several high-priority drill targets.    

“Results from the 2021 VTEM survey show 6 discrete, moderate to strong-amplitude VTEM AEM anomalies over the ophiolite complex,” stated Alan King, the company’s consulting geophysicist. “Potential geological sources of the VTEM responses include conductive serpentinization, graphitic /black shales in sediments, or conductive sulphides. Based on known geology, the most likely source for the strongest two anomalies is pyrrhotite-dominated sulphides, due to local associated magnetic anomalies and the mafic to ultramafic host rocks.”

“We are eager to drill the Wheeler project and test these priority conductors,” stated Voltage CEO Bob Bresee. “This area of southwestern Newfoundland has become very prospective for base metals, as evidenced by the success of our next-door neighbour York Harbour Metals, whose quality drill results have been driving shareholder value in recent months. The historic results on Wheeler demonstrate the excellent potential for nickel, copper, cobalt and platinum group element mineralization.”

Historically documented occurrences on the Wheeler property consist of both net-textured pentlandite (nickel sulphide) and PGE-rich chalcopyrite (copper sulphide) mineralization, indicating that the minerals formed within a magma chamber. Voltage has applied for drill permits at Wheeler and is currently receiving quotations for a summer drilling program of approximately 2,000 metres, to test up to five near-surface EM anomalies.

Appointment of Technical Advisor

Voltage is pleased to announce the appointment of Alan King to its technical advisory board. Alan is a geophysics expert having consulted for decades on projects in Canada, Australia, South America, Africa and Asia. From 1990 to 2012, he was employed by Inco/Vale as a senior geophysicist and then as Manager of Geophysics with responsibility for global exploration. He was a member of the technical team that performed Inco’s due diligence during its review of Voisey’s Bay, prior to its eventual purchase from Diamond Fields in 1995. Subsequent to the acquisition, Alan continued in a supervisory role on Voisey’s Bay geophysics as the project was developed, as well as on other Inco green field and mine area projects. In his capacity as Chief Geophysicist for Vale Global Exploration, Alan worked on geophysical applications for base metals, gold, iron, manganese, coal and fertilizers (potash and phosphate), as well as target generation using regional and global data sets.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Dr. Stephen Amor, PhD, PGeo, who is a qualified person, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Voltage Metals

Voltage is a mineral exploration company with a highly experienced team focused on nickel and other battery metals exploration in the Canadian provinces of Ontario and Newfoundland. The Company looks to create shareholder value by aggregating and exploring projects that possess sound geology and brand-new discovery potential. Voltage has a deep roster of management and key stakeholders, who are expert in the essential resource trifecta of exploration, operations and finance.

Forward Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by management. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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Mansa Exploration enters into Letter of Intent with Voltage Metals Inc

TORONTO, Aug. 16, 2021 /CNW/ – Mansa Exploration Inc. (“Mansa” or the “Company”) (CSE: MANS) is pleased to announce that it has entered into a binding letter of intent dated August 13, 2021 (the “Agreement”) with Voltage Metals Inc. (“Voltage”). Pursuant to the Agreement, Mansa will acquire all of the issued and outstanding shares of Voltage in exchange for shares of Mansa (the “Transaction”). The Transaction will constitute a reverse takeover of Mansa by Voltage and will be a “fundamental change” of Mansa pursuant to the policies of the Canadian Securities Exchange (“CSE”), requiring approval from the CSE. Approval of the shareholders of Mansa and Voltage will also be required.

Shareholders of Voltage will receive an aggregate of 36,000,000 common shares in the capital of Mansa in exchange for the outstanding common shares of Voltage.

ABOUT VOLTAGE METALS INC.

Voltage is a mineral exploration company with a highly experienced team focused on the St. Laurent Project which covers 4,170 hectares and is located in St. Laurent Township, Northern Ontario, 160 kilometres northeast of Timmins, 50 kilometres south of Detour Lake Mine and 20 kilometres southwest of Casa Berardi Mine.

Past shallow drilling at the St. Laurent Project identified disseminated multi-element sulphide mineralization across notable widths trending towards a large gabbro-hosted magnetic feature. The Ni-Cu-Co-Au-Pt-Pd zone is open along strike and at depth. This mineralized zone, importantly, is coincident with a strong 600-metre long EM anomaly.

Drilling to date has not yet intersected massive sulphides, and the EM anomaly has not yet been explained. The disseminated sulphide halo provides an important vector to guide the upcoming future exploration work.

Voltage is party to a purchase agreement (the “Purchase Agreement”) dated June 20, 2020, as amended March 1, 2021, with Pancontinental Resources Corp. (“Pancon”), pursuant to which Voltage will be acquiring from Pancon a 100% interest in the St. Laurent Project, along with the Montcalm Project, the Nova Project and the Gambler Project, with the latter three projects being early-stage exploration projects located in the Montcalm Greenstone Belt, approximately 65 kilometres northwest of Timmins, Ontario. Pursuant to the terms of the Purchase Agreement, Voltage has two remaining payments to Pancon as follows: (i) $300,000 no later than September 30, 2021; and (ii) $200,000 no later than December 31, 2021.

PRIVATE PLACEMENT

Prior to or concurrently with the completion of the Transaction, it is anticipated that Mansa will carry out a private placement financing (the “Concurrent Financing“) to raise up to $2 million in gross proceeds for the purposes of funding its working capital requirements and carrying out exploration work on the properties of Voltage and Mansa.  The terms of the Concurrent Financing will be determined by Voltage and Mansa.

CONDITIONS TO CLOSING TRANSACTION

A listing statement of Mansa will be prepared and filed in respect of the Transaction. Investors are cautioned that, except as disclosed in the listing statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Completion of the Transaction is subject to a number of conditions, including, but not limited to, receipt of regulatory approval, compliance with applicable securities laws, and the receipt of all requisite shareholder approvals. Trading in the common shares of Mansa will remain halted pending review of the Transaction by the CSE. There can be no assurance that trading in the common shares will resume prior to completion of the Transaction.

QUALIFIED PERSON STATEMENT

All scientific and technical information contained in this news release was prepared and approved by Todd Keast, P. Geo, who is a Qualified Person as defined in NI 43-101.

The CSE has not, in any way, passed upon the merits of the Transaction and associated transactions and has not, in any way, approved or disapproved of the contents of this news release. The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

ABOUT MANSA EXPLORATION

Mansa Exploration is a Canadian mineral exploration company listed on the Canadian Securities Exchange (CSE) under the symbol MANS. Mansa currently has an option to acquire a 100% interest in the 1,900-hectare Skyfire property located in the Caribou mining area of central British Columbia, Canada. Mansa may earn 100% interest by incurring an aggregate of $1,250,000 in exploration expenditures on the property by December 31, 2022. Mansa is also exploring for Ni-Cu-PGE mineralization on its 100% owned, 19,750-hectare Wheeler Property located in southwestern Newfoundland and Labrador.

FORWARD-LOOKING INFORMATION

Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Transaction, the completion thereof and the use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the receipt of all necessary regulatory and shareholder approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.