NEW YORK, NY -- July 05, 2023 -- InvestorsHub NewsWire --
CGrowth Capital Inc. (OTC:
CGRA) is pleased to announce the publication of a high-level
preliminary report of its exploration efforts in the company's
recently acquired lithium tenements in the Hombolo region of
Tanzania. This preliminary report reveals promising indications of
significant lithium mineralization along with key geological
sequences and notable results obtained from rock chip sampling,
confirming the presence of valuable lithium resources.
The report offers a concise overview of the initial exploration
conducted at the Mohanga Lithium tenement situated in Makulu
Village, Bahi and Dodoma Urban districts of the Dodoma region in
Central Tanzania. Additionally, it presents a comprehensive account
of the mining licenses secured, encompassing 17 prospecting
licenses and a total of 37 primary mining licenses. The report also
includes a detailed depiction of the project areas' locations and
provides precise information on the acquired mining licenses.
The primary sources of lithium in the acquired project area are
based on the preliminary analysis of two minerals found within the
pegmatites: lepidolite, a lithium-bearing mica, and spodumene, a
lithium-bearing pyroxene. The project area yielded a series of
promising results with the preliminary analysis including several
notable findings. For example, rock chip sampling taken across the
project area have returned multiple values of over 1.5% Li2O, with
particularly encouraging results such as 3.3% Li2O, 2.6% Li2O, and
2.3% Li2O also recorded from this high-level preliminary
exploration.
A mineralized zone of significant interest has also been
identified following this early-stage exploration. This zone has
been recorded as a significant lithium-rich area and is
characterized by high-grade mineralization that extends up to 30
meters in thickness. This mineralized zone spans a minimum strike
length of 150 meters, indicating the existence of substantially
valuable lithium resources within the area. Overall, the
exploration efforts have shown promising indications of significant
lithium mineralization within the project area, including
high-grade zones and multiple pegmatite occurrences.
"The preliminary findings from our exploration efforts are
extremely encouraging. The high-grade mineralization and multiple
pegmatite occurrences demonstrate the substantial potential for
significant lithium resources in the region. This confirms our
long-held belief in the potential of our lithium tenements, and we
are extremely excited about the future prospects and the value this
holds for our committed shareholders," commented Mitchell Smith,
CEO of CGrowth Capital Inc.
"The presence of significant lithium mineralization underscores
the value of our investment and the potential it holds for our
shareholders. We are actively working on a more comprehensive
report that will offer more detailed geological surveys and that
will provide a comprehensive analysis of the lithium mineralization
potential in the project area. This upcoming report will provide
stakeholders with a deeper understanding of the significant lithium
resources along with the opportunities they undeniably represent,"
commented Nicolas Link, Chairman of CGrowth Capital Inc.
"Taking these exciting developments into account and with a
strong focus on maximizing value for our shareholders, it is
imperative to provide clarity regarding the name 'Hombolo' at this
juncture. It is important to note that 'Hombolo' is not exclusively
associated with a singular mine or company. Rather, it encompasses
an extensive and expansive region offering a diverse range of
mining opportunities, attracting several of the world's largest
mining companies who are actively engaged within its boundaries. To
address the prevailing confusion surrounding the current name of
our mining operation, we are pleased to announce the decision to
rename the project as the 'Nkole-Hombolo Lithium Project'. This
strategic move stems from the widespread misconception that
'Hombolo' refers to a single mine or is exclusively associated with
one company. By adopting the name 'Nkole-Hombolo Lithium Project'
we aim to dispel this misunderstanding and provide a clear
representation of our project's location within the expansive
Hombolo region,'' concluded Link.
CGrowth Capital Inc. looks forward to updating shareholders on
significant progress in the Sports division of the company and will
be issuing a press release later this week to that effect.
For regular CGrowth Capital (CGRA) updates, you are invited to
view the company's website and/or to follow
the company's Twitter account:
Holding Website: https://cgrowthcapital.com
Mining Website: http://cgra-mining.com
Link to Report: https://rb.gy/2q01a
Twitter: @CGRAOTC
Contact: info@cgrowthcapital.com
Source: CGRA
Forward-Looking Statement
Certain information set forth in this press release contains
"forward-looking information", including "future-oriented financial
information" and "financial outlook", under applicable securities
laws (collectively referred to herein as forward-looking
statements). Except for statements of historical fact, the
information contained herein constitutes forward-looking statements
and includes, but is not limited to, the (i) projected financial
performance of the Company; (ii) completion of, and the use of
proceeds from, the sale of the shares being offered hereunder;
(iii) the expected development of the Company's business, projects,
and joint ventures; (iv) execution of the Company's vision and
growth strategy, including with respect to future M&A activity
and global growth; (v) sources and availability of third-party
financing for the Company's projects; (vi) completion of the
Company's projects that are currently underway, in development or
otherwise under consideration; (vi) renewal of the Company's
current customer, supplier and other material agreements; and (vii)
future liquidity, working capital, and capital requirements.
Forward-looking statements are provided to allow potential
investors the opportunity to understand management's beliefs and
opinions in respect of the future so that they may use such beliefs
and opinions as one factor in evaluating an investment. These
statements are not guarantees of future performance and undue
reliance should not be placed on them. Such forward-looking
statements necessarily involve known and unknown risks and
uncertainties, which may cause actual performance and financial
results in future periods to differ materially from any projections
of future performance or result expressed or implied by such
forward-looking statements. Although forward-looking statements
contained in this presentation are based upon what management of
the Company believes are reasonable assumptions, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change
except as required by applicable securities laws. The reader is
cautioned not to place undue reliance on forward-looking
statements. The Securities and Exchange Commission ("SEC") has
provided guidance to issuers regarding the use of social media to
disclose material non-public information. In this regard, investors
and others should note that we announce material financial
information via official Press Releases, in addition to SEC
filings, press releases, Questions & Answers sessions, public
conference calls and webcasts also may take time from time to time.
We use these channels as well as social media to communicate with
the public about our company, our services, and other issues. It is
possible that the information we post on social media could be
deemed to be material information. Therefore, in light of the SEC's
guidance, we encourage investors, the media, and others interested
in our company to review the information we post on the following
social & media channels: Twitter: @CGRAOTC
CGrowth Capital (PK) (USOTC:CGRA)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
CGrowth Capital (PK) (USOTC:CGRA)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
