Corcel PLC, an Angolan focused exploration and production company with battery metal interests, has released the results of its initial exploration activities at the 100%-owned Canegrass lithium project in Western Australia. The company's Executive Chairman, Antoine Karam, expressed optimism about the project's potential, stating that the initial results indicate broader possibilities than originally anticipated, with historic interest in the area for both nickel and vanadium.

The exploration activities included rock chip sampling and reconnaissance conducted by APEX Geoscience to investigate pegmatite swarms and assess the lithium-bearing pegmatite and magmatic nickel potential of the project. A total of 37 rock chip samples were collected, including pegmatite, gabbro-dunite, quartz vein, and calcrete samples. The samples were analyzed for lithium potential using potassium/rubidium (K/Rb) ratios and submitted to ALS Global in Perth for further analysis.

The results revealed the presence of a lithium-bearing pegmatite system at the project, with two separate lithium-bearing mineral pegmatites observed and sampled in the east-southeast project area. Lepidolite was identified as the primary lithium-bearing mineral, with the highest sample grading 1.34% Li2O. However, visual observations suggest no spodumene mineralization present at the project.

Additionally, the Shephards Discordant Zone (SDZ) on the project's tenement E 59/2119 represents a significant break in the igneous stratigraphy of the Windumurra Igneous Complex, offering prospective ground for magmatic vanadium and nickel mineralization. Notable nickel and vanadium results were obtained from rock chip samples collected in this area.

The announcement was reviewed by a Geologist with over 25 years of relevant experience, in compliance with the current Guidance Note for Mining, Oil and Gas Companies issued by the London Stock Exchange. For further information, interested parties were directed to contact the company's Executive Chairman or the appointed NOMAD & Broker and IR representatives.

Overall, the exploration results at the Canegrass lithium project in Western Australia have revealed the presence of a lithium-bearing pegmatite system and indicated potential for magmatic vanadium and nickel mineralization, reflecting broader possibilities for the project than initially anticipated.