Lithium Sampling Program at Cuprite West and Cuprite East

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VANCOUVER, BC, February 3, 2022 /PRNewswire/ — Australian Goldfields Limited (formerly Graphite Energy Corp.) (the “Company”) (CSE: AUGF) (OTC: GRXXF) (Frankfurt: G0A) is pleased to provide an exploration update on the Cuprite East and Cuprite West projects located in the Pilbara region in Western Australia. The projects are two separate blocks with E45/4918 (Cuprite East) on 6,936 hectares and E45/5028 (Cuprite West) on 2,980 hectares. The area has a history of lithium exploration and production, with recent local developments attracting the Company’s interest.

A surface sampling program was recently initiated to identify anomalous areas or outcrops. A total of 1,246 soil samples were collected and are in transit to the ALS laboratories located in Brisbane, Australia, an ISO-certified laboratory. Samples were taken along a drilling grid covering the presumed contact zones between the granite and greenstone units. Analysis is ongoing and results are expected this month.

The Pilbara region has a recent history of lithium production, beginning in 2017 with the Mineral Resources Wodgina Lithium Mine (ASX:MIN), which is among the largest hard rock lithium operations in the world. Pilbara Minerals (ASX:PLS) The Pilgangoora lithium operation and the Global Lithium Resources Marble Bar lithium deposit are also located in the Pilbara mining region. Last December, Chilean lithium producer SQM (Sociedad Quimica y Minera de ChileNYSE:SQM) announced a joint venture with Kalamazoo Resources (ASX:KZR) on KZR’s Dom’s Hill lithium project. The Cuprite West and Cuprite East projects are strategically located on either side of the KZR Dom’s Hill property.

The technical and scientific information contained in this press release has been reviewed by Mr. William Feyerabend, Consulting Geologist and Qualified Person under NI 43-101. Mr. Feyerabend participated in the production of this press release.

CSE has neither approved nor disapproved of the contents of this press release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This press release contains certain “forward-looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical facts about the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management as of the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ. materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. We seek refuge.

ON BEHALF OF THE BOARD OF DIRECTORS

Adrian Hobkirk
President and CEO

Phone. : 954-684-8040
E: [email protected]
W: www.australiangoldfields.com

SOURCEAustralian Goldfields Limited


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