Joshua Gold Resources has completed a transaction giving the company total ownership of its ‘Lithium One’ prospect property in Northern Ontario
WOODSTOCK, ONTARIO, March 14, 2023 — McapMediaWire — In lithium news, Joshua Gold Resources Inc. (OTC: JSHG) has completed a transaction that gives the company 100% ownership of its Lithium One property. The acquisition provides JSHG full control of 40 contiguous mining claims, of which it previously owned 50%.
JSHG’s Lithium One property, showing three prominent areas
The 40 staked claims comprising Lithium One cover a group of three prominent areas, with an approximate land area of 1600 acres. The staked claims share a similar type of terrain where pegmatite outcrops containing spodumene have been identified on other potential lithium properties in the Gogama, Ontario area – which has been a hotbed of mineral exploration activity and home to a recent staking rush.
Lithium One is also located near another JSHG property named Lithium Two. When conditions are conducive, the company plans to conduct a ground sampling program at both sites. This is based on the recommendation of the company’s Chief Geologist and Qualified Person (QP) Fred Sharpley, who will also oversee the exploration program.
While on-site, JSHG’s team will conduct drone-based LiDAR surveys to help identify potential spodumene-bearing pegmatite outcrops.
This work will follow JSHG’s 2022 drone-enabled LiDAR surveying work at its Seymour Lake Extension property, adjacent to the lithium-producing Green Technology Metals (ASX: GT1) site. That expedition is believed to have earned the distinction of being the first-ever MNDM-approved mining survey results obtained using drone-based LiDAR in the province of Ontario.
Traditional LiDAR surveying typically relies on human-operated flights by plane or helicopter. This makes it a costly and time-consuming exploration method. By utilizing drone-enabled LiDAR, JSHG is able to complete airborne surveys while reducing costs by approximately 80%. This enables more investment into property exploration.
Drone-operated LiDAR also produces higher resolution imaging versus human-operated LiDAR flights. This is because drones are able to operate at much lower altitudes, thereby placing the scanning device several factors closer to the surface being surveyed.
The needs of the electric car battery industry in relation to lithium demand potentially make JSHG’s Lithium One and Two properties a great asset. Joshua Gold Resources CEO Ben Fuschino commented, “Lithium One and Lithium Two are situated in an area showing a lot of mineral potential. We are looking forward to getting our team on-site this spring to conduct critical, initial explorations at both properties. Using cutting-edge surveying technology, we will further demonstrate that JSHG is a leader in mineral exploration.”
About Joshua Gold Resources Inc.
Joshua Gold Resources Inc. (OTC: JSHG) is a publicly traded American gold and mineral exploration company headquartered in Canada, home to the 3 billion-year-old Canadian Shield which contains a wealth of minerals from nickel, gold, copper, lithium, cobalt, niobium, lithium to chromium.
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Investor Relations Contact:
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Phone: (585) 703-6565