Thunder Bay, Ontario--(Newsfile Corp. - May 29, 2025) - Vinland Lithium Inc. (TSXV: VLD) ("Vinland" or the "Company") is pleased to provide a corporate update on its Killick Lithium Project (the "Project").
Some of the key points for Vinland are as follows:
- The Killick Lithium Project holds excellent potential for additional discoveries in a newly identified lithium belt located in the friendly mining district of Newfoundland, Canada
- High grade Lithium and Cesium pegmatites have been discovered since 2021
- Vinland is well structured with approximately 10 million issued and outstanding shares with more than 6 million held by insiders that are under an escrow provision for 36-months
- In 2023 Piedmont Lithium Inc. ("Piedmont"), a leading North American lithium company (NASDAQ - PLL) completed a financing in Vinland of CAD$2.0M @ CAD$1.00 per share to hold a 19.9% interest in Vinland
- Piedmont has vast technical and geological knowledge, and their Carolina Lithium property has similar geology to that of Killick/Kraken pegmatites
- Vinland holds indirectly, through its subsidiary Killick Lithium Inc., a 100% interest in the Killick Lithium Project
- Piedmont has the option to earn up to a 62.5% direct interest in Killick Lithium Inc. (a wholly-owned subsidiary of Vinland) by spending CAD$12.0M in exploration and development over 54 months along with certain other commitments to Benton and Sokoman
Killick Lithium Project
The Killick Lithium Project was first discovered in late-summer 2021 by Benton Resources Inc. ("Benton") and Sokoman Minerals Corp. ("Sokoman") personnel (Figure 1). The maiden drill program in 2022 resulted in the discovery of the Kraken Dyke which returned 8.4 meters of 0.95% Li20 in hole GH-22-01. Further work in 2022-2023 resulted in the discovery of several additional spodumene-bearing dykes including the Killick Dyke/East Dyke system where drilling has returned 1.04% Li20 over 15.23 meters in hole GH-22-27 and 1.06% Li20 over 16.7 meters, including 1.22% Li20 over 13.37 meters in hole GH-23-46. Several spodumene-bearing dykes remain untested by diamond drilling. Large-scale regional geochemical surveys have outlined multiple lithium and tantalum in soil anomalies, some of which are several kilometers in length. During the 2024 summer field season, the joint venture between Benton, Sokoman and Piedmont completed an airborne geophysical magnetics and electromagnetics survey as well as field geochemical surveys on the Project. Field geochemical and geological surveys consisted of prospecting, geological mapping, soil sampling and basal till sampling were also completed. Highlights of the exploration program are presented below:
- A 4,854.3-kilometer airborne Magnetics and VLF-EM (very low frequency electro magnetics) was flown in April and May of 2024. The survey area covered parts of the property not flown in the 2021 program. The two data sets are now merged and provide complete coverage of the entire Project. Interpretation of the data has identified several anomalous areas for future exploration follow-up.
- Prospecting has resulted in the identification of multiple spodumene-bearing pegmatite float samples in the Kraken South area of the Project. Float samples range from angular to sub-rounded and have returned assays to 1.97% Li20, with 11 samples assaying greater than 1.0% Li20. Initial basal till sampling in the area has confirmed spodumene grains in several samples. The Kraken South area is deemed high priority for follow-up evaluation.
- Prospecting and soil sampling continue to expand anomalous areas of LCT pegmatite dyke occurrences. Areas such as Grandy's West and Top Pond Ridge are multi-kilometer anomalies containing elevated lithium and tantalum in soils and rock samples. All areas that have anomalous Li and Ta in soil contain pegmatite dykes in bedrock that further indicate high potential for the discovery of LCT pegmatite dykes in the area. Anomalous Tantalum is believed to indicate local highly fractionated geochemical sources adding to the high-prospectivity of these areas.
- Vinland is also advancing its Hydra Cesium discovery where initial channel sample results returned 8.75% Cs2O, 0.41% Li2O, 0.025% Ta2O5 and 0.33% Rb2O over 1.2 meters including 13.57% Cs20 and 0.32% Li20 over 0.4m. Six short diamond drill holes tested the discovery area with results including 13.55m of 0.146% Cs2O and 0.158% Li2O including 0.50 m of 0.80% Cs2O and 0.152% Li2O in hole HY-23-01. Prospecing and limited trenching has indicated that the Hydra Dyke has a strike length of over 200 meters to the north of the original discovery site, and the dyke extends under till cover to the south.
- Vinland is also pleased to announce that it will continue its partnership with the Critical Minerals Research Initiative between St. Francis Xavier University, Memorial University, Newfoundland Geological Survey in researching the lithium pegmatites in southwestern Newfoundland where a total of $1.3 million over 4 years is being directed towards detailed research on the property.
Figure 1: Killick Lithium Project Generalized Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11666/253764_8414eb5d94174b78_001full.jpg
About Vinland Lithium Inc.
Vinland Lithium Inc. is a well-financed mineral exploration company listed on the TSX Venture Exchange under the symbol VLD. Vinalnd holds 100% interest in the Killick Lithium Project in Southwestern Newfoundland and is seeking additional opportunities in the lithium-cesium-tantalum space.
Vinland is focused on advancing the recently-discovered Killick Lithium Project which covers 60 kilometers of highly-prospective geological terrane in proximity to the Baie d'Est Fault. The project boasts multiple spodumene-pegmatites within the Kraken Pegmatite Field and high-grade cesium-tantalum-lithium hosted in the Hydra Pegmatite. Further potential for discovery is excellent given the extensive number of untested geochemical and geophysical targets present.
All initial drilling phases at the Killick Lithium Project to date have returned impressive results from multiple pegmatites including: 8.4m of 0.95% Li2O in GH-22-01 at the Kraken Dyke, 16.2m of 0.43% Li2O in GH-22-05 at the Kraken North Dyke, 20.82m of 0.60% Li2O incl. 5.5m of 1.16% Li2O in GH-22-15, and 8.37m of 0.91% Li2O in GH-22-08 at the East Dyke and 15.23m of 1.04% Li2O in GH-22-27 and 13.37m of 1.22% Li2O in GH-22-45 at the Killick Dyke. At the Hydra Cesium Dyke, initial channel sample results to 8.75% Cs2O, 0.41% Li2O, 0.025% Ta2O5 and 0.33% Rb2O over 1.2 meters including 13.57% Cs20 and 0.32% Li20 over 0.4m.
On behalf of the Board of Directors of Vinland Lithium Inc.,
"Stephen Stares"
Stephen Stares, President
Parties interested in seeking more information can contact Mr. Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO
Phone: 807-474-9020
Email: sstares@bentonresources.ca
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
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SOURCE: Vinland Lithium Inc.
