First Energy Metals (CSE: FE) (OTCQB: FEMFF), a publicly traded Canadian mineral exploration company, today announced results of drill hole LC21-21 at its Augustus Lithium Property in Quebec, Canada. According to the update, the drill hole intersected a 7-meter-wide zone with 1.35% lithium oxide (“Li2O”) at 102 metres (“m”) drilled depth. In addition, a second 5-meter wide intersection with 0.40% Li2O at 112 m drilled depth. Among the highlights, First Energy reported that, within 102 to 109 m drilled depth, average lithium (“Li”) values are 6,261 parts per million (“ppm”) 1.35% Li2O. Other anomalous values of rare metals include beryllium (“Be”) 223.14 ppm, cesium (“Cs”) 73.53 ppm, niobium (“Nb”) 64.63 ppm, rubidium 1,397 ppm, and tantalum (“Ta”) 114.40 ppm.
The company also announced a non-brokered private placement financing of up to $2,000,000 from the sale of up to 8,000,000 units, each at a price of $0.25. Each unit will consist of one common share and one fully-transferable common share purchase warrant (a “warrant”). Each warrant will entitle the holder to purchase an additional common share, each at a price of $0.50, for a period of one year from the date of closing of the private placement.
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About First Energy Metals Limited
First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector. The company’s strategy is to acquire and advance projects through prospecting and early-stage exploration; source joint venture partners to finance future exploration and project development; and create shareholder value through exploration success. First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time. For more information about the company, visit www.FirstEnergyMetals.com.
NOTE TO INVESTORS: The latest news and updates relating to FEMFF are available in the company’s newsroom at https://ibn.fm/FEMFF
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