Dixie Gold Inc. Confirms Drill-Stage Lithium Projects

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VANCOUVER, BC / ACCESSWIRE / January 19, 2021 / Dixie Gold Inc. (TSXV:DG) ("Dixie Gold" or the "Corporation") is pleased to provide its shareholders with an update on the Corporation's drill-stage lithium assets situated in Canada.

"Dixie Gold's long-standing lithium assets have been the subject of recent shareholder interest and inquiry. As a result, we would like to confirm the particulars of our Phoenix Lithium Project and Torp Lithium Project, both of which are securely situated in North America. Holding both projects under long-term leases delivers us significant latitude in terms of timing and optionality to advance what our company believes are two of the most prospective lithium exploration projects in Canada," stated Ryan Kalt, Chief Executive Officer.

Dixie Gold has 25,737,188 common shares issued, with no warrants outstanding.

About the Phoenix Lithium Project

The Phoenix Lithium Project is located in Canada's Northwest Territories, approximately 70km southeast of the Diavik Diamond Mine and less than 60 km from winter road infrastructure.

The Phoenix Lithium Project hosts the Big Bird and Curlew lithium-rich pegmatites.


Figure 1: Phoenix Lithium Project

The Big Bird lithium pegmatite has been mapped over a 1,280m strike length with observable outcrop widths ranging from 8m to greater than 80m. Past drilling at the Big Bird lithium pegmatite returned 1.24% Li2O over 34.3m.

The Curlew lithium pegmatite has been mapped over a strike length of 400m with widths up to 20m. Past drilling at the Curlew lithium pegmatite returned 1.72% Li2O over 14.87m.

The significant lithium grades and widths returned from limited past drilling of the Big Bird, and Curlew lithium pegmatites (both acquired by way of a transaction in 2016 with North Arrow Minerals Inc.) highlights the potential for the Phoenix Lithium Project to host a number of lithium-rich spodumene pegmatites.

The Phoenix Lithium Project was further subject of a conceptual exploration target by third-party consultants to the Corporation in 2018, additional disclosure of which may be found in the Corporation's news release dated January 25, 2018 (see: https://www.dixiegold.ca/clean-commodities-corp.-announces-completion-of-modelling-at-phoenix-lithium-project).

In addition, in late 2017, significant portions of the Phoenix Lithium Project were independently surveyed and taken to lease with the Crown, the effect of which that such area was granted a 21-year lease (subject to annual rent payments), with further renewal right thereafter.

For further information on the Phoenix Lithium Project, please visit:
https://www.dixiegold.ca/phoenix

About the Torp Lake Lithium Project

The Torp Lake Lithium Project covers 1,003 ha and is located only 35km from tidewater in the North Slave Region of Nunavut. The Torp Lake Lithium Project hosts the McAvoy lithium-rich pegmatite. The project was acquired by Dixie Gold from North Arrow Minerals Inc. in 2016.

Past channel sampling work on this spodumene-bearing pegmatite has returned 6.0 m grading 4.5% Li2O and 7.0 m grading 3.3% Li2O. The channels were located 78 m apart and orientated perpendicular to the north-south strike of the pegmatite.


Figure 2: McAvoy Lithium Pegmatite

Lithium is contained in the mineral spodumene, high concentrations of which are observable within the McAvoy lithium pegmatite over a 110m strike length with widths of 10m to 15m.

Mineralogical analysis, completed by SGS Canada Inc., of a composite sample indicated excellent liberation of spodumene (99%), and microprobe analysis confirmed the spodumene is exceptionally pure and clean of major elements, particularly iron and manganese.

The McAvoy pegmatite is a potential source of premium-priced rare technical grade spodumene.

In late 2017, the Torp Lithium Project was independently surveyed and was subsequently taken to lease with the Crown, the effect of which was the granting of a 21-year lease term (subject to annual rent payments), with further renewal right thereafter.

For further information on the Torp Lithium Project, please visit:

https://www.dixiegold.ca/torp

Readers are cautioned that exploration work completed at the Phoenix Lithium Project and the Torp Lithium Project is historic in nature and has not been confirmed by the Corporation.

Qualified Person:

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the "Qualified Person" as defined in NI 43-101, who has reviewed and approved the technical content in this press release. The QP cautions the reader that work completed to date is historic and has not been confirmed by the Corporation.

About Dixie Gold Inc.

Dixie Gold Inc. (TSXV:DG) is a publicly-traded exploration company involved in a diverse portfolio of high-impact exploration projects in Canada. For more information, please visit www.dixiegold.ca.

Signed,

Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.

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

CONTACT:

Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.
E. [email protected]
W. www.dixiegold.ca

SOURCE: Dixie Gold Inc.



View source version on accesswire.com:
https://www.accesswire.com/624866/Dixie-Gold-Inc-Confirms-Drill-Stage-Lithium-Projects

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