Vision Lithium starts drilling program on Cadillac Lithium property
by CM Staff
The company has also granted 4,200,000 incentive stock options to certain directors, officers, employees and consultants of the company, pursuant to its incentive stock option plan.
VAL-D’OR — Vision Lithium Inc. has announced the start of its maiden drilling program on the newly acquired Cadillac Lithium property.
According to a company statement, Vision Lithium will launch a drill campaign to target multiple lithium bearing dikes on the property. The Cadillac lithium project is located just 10 km south of the mining town of Cadillac in the Abitibi region of Quebec. The company stated that the site is surrounded by infrastructure and skilled mining labour.
“Our initial channel sampling program has returned some very high grade lithium values. We are now mobilizing a drill to the site to immediately begin testing the potential of the B dike. The drill should be operational this week. The drill will test the B dike along its 300 m exposed strike length as well as other lithium bearing dikes, none of which have ever been drilled. Additional results from the surface channel sampling program are also expected in January. We’re very excited about this first-ever drill program on the Cadillac Lithium property and look forward to releasing results to the public as soon as they become available,” said Yves Rougerie, President and CEO in a statement.
Vision Lithium stated that it has also staked an additional 12 claims to expand the Cadillac Lithium property to the East to cover prospective ground.
The company has also granted 4,200,000 incentive stock options to certain directors, officers, employees and consultants of the company, pursuant to its incentive stock option plan. Each option is exercisable into one common share of Vision Lithium at a price of $0.21 per share for a period of 5 years from the date of grant. 50 per cent of the options vest immediately and the remaining 50 per cent will vest 6 months following the date of grant.
