Welcome to our dedicated page for Champion Electric Metals news (Ticker: CHELF), a resource for investors and traders seeking the latest updates and insights on Champion Electric Metals stock.
Champion Electric Metals Inc. reports developments as a discovery-focused mineral exploration company with public trading symbols that include CHELF, LTHM and 1QB0. Its updates cover exploration work and project stewardship across lithium properties in Quebec and copper, gold, cobalt and polymetallic assets in Idaho, including the Champagne project, Baner gold project interests and claims in the Idaho Cobalt Belt.
Company news also includes portfolio transactions, shares-for-debt settlements, board and management changes, and disclosures related to Canadian exchange acceptance and securities-law requirements. These releases frame Champion Electric's capital structure and project portfolio as it manages exploration assets and corporate obligations.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) has announced significant lithium findings from its trenching program at the Western Prospect of the Quebec Lithium Project. Key results include:
- 10.5 metres averaging 0.96% Li2O
- 8.5 metres averaging 1.17% Li2O
The program exposed spodumene-mineralized pegmatite dikes at three locations over a 340-metre strike length. The length-weighted average grade of all channel samples in pegmatite is 0.47% Li20, with samples over 0.40% Li2O averaging 1.09% Li2O. The highest Li2O content for a one-metre channel sample is 2.39% Li2O. The company is now conducting core drilling to test for increased mineralized widths at depth.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) has commenced Phase II drilling at its Quebec Lithium Project in the James Bay territory. The program aims to drill up to 1,500 metres to further test spodumene-bearing pegmatite dikes identified in Phase I drilling and recent trench exposures. Initial drilling will focus on a 700-metre segment of a 1,700-metre glacial dispersal train of spodumene-bearing boulders.
The company has collected 157 systematic channel samples from twelve trenches, 9 outcrop samples, 46 float samples, and 51 till samples across the Western Prospect. A 50 kg sample of spodumene mineralization will be collected for metallurgical testing. Analytical results from surface sampling are expected to start arriving in early September.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) has successfully closed an $800,000 private placement of flow-through shares. The proceeds will be used for Canadian exploration expenses qualifying as 'flow-through critical mineral mining expenditures' on the company's Quebec properties. These expenses will be renounced to subscribers by December 31, 2024.
In connection with the closing, Champion Electric paid a $56,000 cash finder's fee and issued 1,120,000 broker warrants. Each warrant allows the purchase of one common share at $0.05 for 24 months. The securities are subject to a four-month hold period, and the placement's completion is pending regulatory approvals, including from the CSE.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) has announced a private placement of up to 25,000,000 flow-through shares at $0.04 per share, aiming to raise up to $1 million. The proceeds will be used for Canadian exploration expenses qualifying as "flow-through critical mineral mining expenditures" on the company's Quebec properties. These expenses will be renounced to subscribers by December 31, 2024. The private placement is expected to close around August 14, 2023, subject to regulatory approvals. Securities issued will have a four-month and one-day hold period from the issuance date.
Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) has signed a binding option agreement with Prestwick Capital (TSXV: PWIK.P) to sell its Baner Gold Project in Idaho, USA. The project consists of 215 unpatented lode claims covering approximately 3,818 acres. Under the agreement, Prestwick will make cash payments totaling CAD$925,000, issue 1.3 million common shares, and grant warrants for 600,000 shares to Champion Electric over multiple stages. Champion Electric will retain a 1% net smelter return royalty, which Prestwick can buy back for $7.5 million. The transaction is subject to TSX Venture Exchange approval and other conditions.
Champion Electric Metals Inc. (CSE: LTHM) has confirmed spodumene-bearing pegmatite dikes in multiple trenches at its Quebec Lithium Project in James Bay territory. The company exposed dikes ranging from 3 to 17 meters width in 3 trenches near a previously drilled mineralized intersection. These findings are part of the 2024 field program, which follows up on a 1,700-meter-long glacial dispersal train of spodumene-bearing boulders.
Key points:
- Spodumene content in exposed dikes visually estimated at 2-10%
- 112 channel samples sent for analysis, results expected in early August
- Minimum strike length of 340 meters indicated for one pegmatite dike
- Upcoming drill program to start in about two weeks
The company aims to identify areas with potential for increased thickness and lithium grade along strike and at depth.
Champion Electric Metals has announced high-grade lithium results from initial rock samples at its Quebec Lithium Project in the James Bay territory. The samples, collected from a boulder field spanning 1.7 km, revealed lithium oxide concentrations as high as 5.83%. Out of 30 grab samples from spodumene-bearing boulders, 23 showed over 1.0% Li2O. Further exploration includes trenching and mapping to define additional targets. The results indicate a strong mineral system with higher grades than found in drilling. The sampling was conducted under stringent QA/QC protocols.
Champion Electric Metals has secured a C$167,000 grant from Quebec’s Ministry of Natural Resources and Forests for its 2024 exploration program at its Lithium Property in James Bay, Quebec. The grant will fund metallurgical test work and drilling scheduled for later this year. The program supports projects aimed at discovering critical and strategic minerals in Quebec. Champion Electric's President and CEO, Jonathan Buick, expressed gratitude for the support, emphasizing the importance of developing domestic supplies of critical metals.
Champion Electric Metals, trading under CHELF, has updated its progress on the ongoing field program at its lithium property in James Bay, Quebec. Their spring field program follows a successful winter drilling campaign and includes prospecting, till sampling, boulder prospecting, mapping, trenching, and channel sampling. Recent discoveries include a boulder field containing large spodumene crystals, some up to 30cm in length. Excavators have been deployed for trenching, and samples have been sent to the lab for analysis. The company continues to explore other promising areas on the property.
Champion Electric Metals has initiated preparations for a new field program at its Lithium Property in James Bay, Quebec, following a recent discovery. Significant intervals of spodumene crystals and potential lithium mineralization were found in drill holes EIQ24-007 and EIQ24-008. The company plans further prospecting, mapping, geophysics, excavation, and channel sampling in the area. The field program aims to explore the continuation of the pegmatite mineral system. The team will clear overburden, build roads, and continue till sampling along the pegmatite trend. Permits for the next round of drilling have been secured.