Ophir to Drill High-Grade Cesium Discovery at the Pilipas Property, James Bay, Quebec

Rhea-AI Summary

Ophir Metals (OPHRF) has announced plans for a 1,000-meter drill program targeting a high-grade cesium discovery at the HW3 Pegmatite on their Pilipas Property in James Bay, Quebec. The program is set to begin in June 2025. Recent channel sampling revealed significant cesium mineralization, with highlights including 1.4m at 6.00% Cs2O (including 0.5m at 12.40% Cs2O) and grab samples up to 14.2% Cs2O. The HW3 Pegmatite, measuring 15m by 23m, remains open in multiple directions. The property's location is strategic, with access to hydroelectric power and an all-season highway. Notably, cesium is classified as a "Critical Mineral" in Canada, with limited global supply and crucial applications in GPS systems, 5G technology, and drilling fluids. The company also granted 200,000 stock options to consultants at $0.10 per share, exercisable for 5 years.

Positive

• Discovery of high-grade cesium mineralization with samples up to 14.2% Cs2O
• Strategic location with access to hydroelectric power and all-season highway
• Property shows strong potential for additional cesium-lithium mineralization with 81 samples meeting all fertility criteria
• Drilling program to commence in June 2025 to test known cesium zone
• Targeting a critical mineral with limited global supply and high demand for tech applications

Negative

• HW3 Pegmatite is relatively small at 15m by 23m in current known size
• Southern extent of the pegmatite is under swamp cover, limiting surface exploration
• Early-stage exploration project with no defined resource estimates yet

Vancouver, British Columbia--(Newsfile Corp. - May 21, 2025) - Ophir Metals Corp. (TSXV: OPHR) (OTCQB: OPHRF) (FSE: W0J) ("Ophir" or the "Company")  is pleased to announce that planning is underway for a drill program targeting the high-grade cesium discovery at the HW3 Pegmatite on the Pilipas Lithium Property (the "Property" or "Project"). Pilipas is located in Eeyou Istchee region of James Bay, Quebec, proximal to existing hydroelectric power that flanks the Property to the east, and an all-season highway that bisects the western side of the Property.

"Our high-grade cesium discovery at HW3 has the unique potential to meet part of the reported worldwide shortage in cesium supply, which is just 50 m from the main transport highway through the region. HW3 is one of only a select few pegmatites in the James Bay region to host high-grade cesium, which makes HW3 both very rare and an incredibly attractive drill target," comments Shawn Westcott, CEO of Ophir Metals.

The drill program is currently planned to commence during the first week of June. The program will be approximately 1,000 m and will be focused on testing the known cesium zone at depth and to the south, where the pegmatite remains open. The surface area of the cesium enrichment within the HW3 outcrop is at least approximately 11 x 4 m (Figure 1) as identified from the recently completed channel sampling program.

HW3 Cesium Pegmatite Highlights (See news release dated February 3rd, 2025)

• Well-mineralized channel intervals at the HW3 Pegmatite
  • 1.4 m at 6.00% Cs₂O including 0.5 m at 12.40% Cs₂O - PCH24-001 (Figure 2)
  • 5.0 m at 1.46% Cs₂O, including 1.0 m at 5.30% Cs₂O PCH24-002
  • 4.0 m at 1.81% Cs₂O, including 2.0 m at 2.30% Cs₂O - PCH24-003 (Figure 2)
• 14.2% Cs₂O and 4.24% Cs₂O from outcrop grab samples
• HW3 Pegmatite remains open in multiple directions
• Pollucite mineralization confirmed by Quantitative XRD analysis

The HW3 Pegmatite is approximately 15 m by 23 m in size with the southern extent plunging under cover of swamp with no defined contact observed, therefore remaining open in several directions.

Figure 1. Pilipas Property - 2024 channel sampling results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6338/252850_2ec0da2614e29b3d_001full.jpg

Cesium is listed as a "Critical Mineral" in Canada and other jurisdictions around the world (Canada's Critical Minerals). To qualify as a "critical mineral", the commodity must have a supply chain that is threatened and a reasonable chance of being produced in Canada. It must also meet one of the following criteria: be essential to Canada's economic or national security, be required for the transition to sustainable low carbon and digital economy and/or position Canada as a sustainable or strategic partner within global supply chains.

Cesium has multiple commercial applications from environmentally friendly drilling fluids to a variety of chemical and electrical applications. Cesium isotopes are used as an atomic frequency standard within atomic clocks, and plays a vital role in global positioning systems (GPS), aircraft guidance systems and the implementation of 5G internet and cellular telephone transmissions (USGS - Mineral Commodity Summary).

Due to the lack of global supply, the only primary cesium mine in operation, the Tanco mine in Manitoba (owned by Tantalum Mining Corporation of Canada), has faced international competition for the supply of the mine's cesium. The Tanco mine is also evaluating options for long-term redevelopment in order to extract the remaining cesium that is contained within the mine. (CBC Reporting on the Tanco Mine in Manitoba).

Figure 2. Sample D00481674. HW3 pegmatite outcrop sample which returned 14.2% Cs₂O

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6338/252850_2ec0da2614e29b3d_002full.jpg

Other areas of the Pilipas Property also remain highly prospective for hosting pollucite mineralization, as indicated by strong geochemical fertility ratios obtained in pegmatite grab samples. The geochemical ratios of K/Rb, Nb/Ta, Zr/Hf, and Mg/Li are commonly used to assess the potential for pegmatites to host LCT mineralization. Fertile pegmatites (and their source melts) typically have ratios of K/Rb < 150, Nb/Ta < 5, Zr/Hf < 18, and Mg/Li < 10. The more of these indices that are met, the higher the likelihood that a given pegmatite could host Lithium-Cesium-Tantalum ("LCT") mineralization.

Eighty-one (81) surface samples collected during the 2024 work programs met all four of these fertility criteria, while an additional one hundred and seventy-two (172) samples met three out of the four criteria (Figure 3). All of the surface and channel samples containing visible Cs and/or Li mineralization meet all four of the criteria, along with numerous other samples from outcrops lacking visible mineralization. This indicates a highly fractionated parental magma with strong potential for additional pegmatite outcrops to host Cs-Li mineralization, particularly those surrounding the HW2 and HW3 areas.

Figure 3. Fertility Criteria met by 2024 Surface Samples

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6338/252850_2ec0da2614e29b3d_003full.jpg

Ophir also announces that, pursuant to its stock option plan, it has granted an aggregate of 200,000 options to purchase common shares in the capital of the Company to certain consultants of the Company, exercisable at a price of $0.10 per share for a period of 5 years from the date of grant.

Quality Assurance / Quality Control

All channel samples were collected in the field using a hammer and chisel after using a gas-powered diamond saw to cut 3-4" deep channels. Channel locations were obtained using a handheld GPS with samples placed in pre-labelled sample bags. Metal tags with the sample numbers were left within the sample meter cuts. Samples were securely transported by field staff to SGS Canada's laboratory in Val d'Or, QC for standard sample preparation (code PRP90) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g and pulverize 85% passing 75 microns. The pulps were then shipped to SGS Canada's laboratory in Burnaby, BC where they were subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50). Gold analysis was performed using Au by fire assay (Code GE_FAA30V5) and cesium overlimit analysis completed by acid digest for alkaline elements (code GC_AAS49C). A Quality Assurance/Quality Control protocol was incorporated into the program and included the insertion of certified reference material at and blanks at a rate of approximately 5% and 5%, respectively. SGS Canada is independent of the Company.

Management cautions that prospecting surface rock samples and associated assays, as discussed herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.

Qualified Person

The technical content of this news release has been reviewed and approved by Nathan Schmidt, P. Geo., Senior Geologist for Dahrouge Geological Consulting Ltd., a registered special authorization holder with Ordre des Géologues du Québec (AS-10512) and a Qualified Person under National Instrument 43-101 on standards of disclosure for mineral projects.

Mr. Schmidt has verified all scientific and technical data disclosed in this news release including the sampling and QA/QC results, and certified analytical data underlying the technical information disclosed. Mr. Schmidt verified the data disclosed (or underlying the information disclosed) in this news release by reviewing the assay data; and checking the performance of blank samples and certified reference materials. Mr. Schmidt detected no significant QA/QC issues during review of the data and noted no errors or omissions during the data verification process. The Company and Mr. Schmidt do not recognize any factors of sampling that could materially affect the accuracy or reliability of the data disclosed in this news release.

About the Pilipas Lithium and Cesium Project

In December 2023, the Company entered into an option agreement with Azimut Exploration Inc (TSXV: AZM) (OTCQX: AZMTF) to earn 70% interest in the Pilipas Property consisting of 135 claims totaling 7,100 ha situated within the La Grande Subprovince (Archean Superior Province) (See news released dated December 11^th 2023). It is primarily underlain by volcano-sedimentary rocks (Greenstone) of the Lower Eastmain Greenstone Belt: conglomerate, sandstone, basalts and felsic to intermediate tuffs. Two regional NW-SE dextral faults transect the southwestern and northeastern parts of the Property.

About the Company

Ophir Metals Corp. is a mineral exploration company focused on the exploration and development of the Pilipas Lithium Property in James Bay, Quebec. Ophir holds an option to earn a 70% interest in the Pilipas property over a three-year period from Azimut Exploration Inc.

On behalf of the Board of Directors

"Shawn Westcott"
Ophir Gold Corp.

For further information, please contact:

Shawn Westcott, CEO
Phone 1 (604) 365 6681
swestcott@ophirgoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note

The information contained herein contains "forward-looking statements" and "forward-looking information" (collectively referred to as "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 and include statements in this press release related to the exploration and discovery potential of the Property, the details and timing of the planned exploration and drill program on the Property, the unique potential to meet the reported worldwide shortage in cesium supply, that the Property hosts a rare and an incredibly attractive drill target, that the Pilipas Property remains highly prospective for hosting pollucite mineralization, the strong lithium pegmatite exploration potential on the Property, the interpretation of exploration and sampling results, the use case for Cesium, the multi-commodity potential of the Pilipas Property and the Company's future plans with respect to the Property. 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: risk related to the 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 technical reports, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to 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, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252850

FAQ

What are the key cesium mineralization results from OPHRF's Pilipas Property?

The HW3 Pegmatite showed channel sampling results of 1.4m at 6.00% Cs2O (including 0.5m at 12.40% Cs2O), and grab samples up to 14.2% Cs2O.

When will Ophir Metals begin drilling at the Pilipas Property?

Ophir Metals plans to commence a 1,000-meter drill program during the first week of June 2025.

Where is OPHRF's Pilipas Property located and what infrastructure is available?

The Pilipas Property is located in the Eeyou Istchee region of James Bay, Quebec, with access to hydroelectric power and an all-season highway.

What is the significance of cesium as a critical mineral for OPHRF?

Cesium is a critical mineral with limited global supply, used in GPS systems, 5G technology, and drilling fluids. Currently, only one primary cesium mine operates globally.

What is the size of the HW3 Pegmatite at OPHRF's Pilipas Property?

The HW3 Pegmatite measures approximately 15m by 23m, with the southern extent remaining open under swamp cover.