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CSE : GXP | FRA : HW3 | OTC : GXPLF

CSE : GXP | FRA : HW3 | OTC : GXPLF

CSE : GXP | FRA : HW3 | OTC : GXPLF

Lithium

Crystal

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INTRODUCTION

Crystal Lithium

Crystal Lithium Project Map

OWNERSHIP : Greenridge 100%.

SIZE : 5 sub-projects totaling ~44,587 ha.

LOCATION: Northern Saskatchewan.

Overview

In January and February 2023, ALX acquired the Crystal Lithium Project (“Crystal”, or the “Project”) by map staking in northern Saskatchewan, Canada. Crystal consists of 54 mineral claims in five claim blocks encompassing 44,587 hectares (110,174 acres). Crystal is located close to the Saskatchewan-Northwest Territories border approximately 160 kilometres northeast of Stony Rapids, SK. The Project is 100%-owned by ALX with no applicable royalties and the newly-staked claims are in good standing until Q1-Q2 2025. ALX acquired Crystal because of its potential to host lithium-cesium-tantalum (“LCT”) pegmatites.

Crystal Lithium Project Map
Crystal Lithium Geology Map

Crystal Lithium

About the project

Crystal Lithium Geology Map
  • The Crystal claims are situated to the north, south, east and west of a historical lithium showing at Bailey Lake first discovered in boulders and outcrop in 2004. Sampling of a lepidolite pegmatite boulder by the Saskatchewan Geological Survey returned 3,470 parts per million (“ppm”) lithium (equal to 0.741% Li2O), 3,380 ppm rubidium, 530 ppm cesium, 74.1 ppm tantalum and 187 ppm tin (Harper, C.T. et al, Summary of Investigations 2004, Volume 2, Miscellaneous Report 2004-4.2, Paper A-7).
  • A geological reassessment in 2017 confirmed the presence of spodumene, a lithium-bearing mineral, in large angular boulders, or blocks, at the Bailey Lake showing. Based on the results of the 2017 site visit, a conclusion was made that lithium-bearing pegmatites were present in the area and that the glacially-transported blocks were not far-traveled (Ramaekers et al., Saskatchewan Geological Survey, Open House 2017 Abstract Volume).
  • The acquisition of Crystal by ALX was determined by prospective property geology including greenstones and leucogranites in conjunction with ALX’s review of the results of a 1993 regional lake sediment geochemical program conducted by the Geological Survey of Canada (the “GSC”).
  • Analyses for lithium were not carried out in the 1993 GSC lake sediment survey but pathfinder elements for LCT pegmatites such as rubidium, cesium and tantalum were identified, some highly anomalous and falling within the 98th percentile for the 1,664 samples collected in the entire regional survey (GSC Open File 2857, 1993).
  • ALX believes that Crystal is underexplored for lithium and that the lake sediment anomalies present at Crystal may indicate the “down-ice” geochemical expression of possible LCT pegmatites.

Crystal Lithium

2024 Exploration Plans at Crystal

ALX is planning a prospecting program at Crystal in 2024 to identify lithium-bearing pegmatites that be sources for the anomalous LCT pathfinder elements in lake sediment samples. Preliminary work will include collection, compilation and interpretation of air photos, satellite imagery, geophysical data, geological mapping data and geochemical data to prioritize ground targets for follow up.

National Instrument 43-101 Disclosure

The technical information contained herein has been reviewed and approved by Robert Campbell, P.Geo., a consultant to Greenridge, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

Historical geochemical results and geological descriptions quoted herein were taken directly from publications released by the Government of Saskatchewan. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by its Qualified Person, but create a scientific basis for ongoing work in the Crystal project area. Management further cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on Greenridge’s mineral properties.

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