FE Battery Metals Corp. (CSE: FE) (OTCQB: FEMFD), a publicly traded Canadian mineral exploration company, has inked a service agreement for a digital advertising campaign and closed on its previously announced private placement. The company announced that it is partnering with Native Ads Inc. for an anticipated six-month, $150,000 digital advertising campaign. Native Ads will provide strategic digital media services, marketing and data analytics services along with sponsored articles and other advertising development, ad campaign analytics and media buying and distribution support. The company also closed on its non-brokered private placement, resulting in gross proceeds of $1,500,000; the placement consisted of issuing 6,666,667 common shares at a price of $0.225 cents per share. According to the announcement, all issued securities will be subject to a four-month-plus-one-day statutory hold period.
In addition, the company also released key results of Drill Hole LC22-39 from its phase 2 exploratory drill program, which was conducted at its Augustus Lithium Property in Quebec, Canada. According to the results, the drill hole LC21-39 intersected three lithium pegmatites with the main 7.3-meter-wide pegmatite zone averaging 1.54% lithium oxide (“Li2O”) at 188.7 meter drilled depth. The results also indicated that the upper lithium pegmatite is 5.28 meters wide with 0.70% Li2O, or 3,262 parts per million lithium at 166 meter drilled depth; the middle pegmatite is 3.69 meters wide with 1.44% Li2O (6,680 ppm Li) at 175.31 meters drilled depth, and the lower main pegmatite is 7.3 meters wide with 1.54% Li2O (7,163 ppm Li) at 188.7 meters drilled depth. In addition, the drill hole showed anomalous values of other rare metals, including beryllium, cesium, niobium, rubidium and tantalum, in all pegmatite zones. According to the announcement, results of remaining drill holes from the company’s phase 2 drill program are pending.
About FE Battery Metals Corp.
FE Battery Metals is a Canadian mineral exploration company with a primary focus of acquiring mineral properties in the battery metal sector. The company’s goal is to identify, acquire and explore North American mineral prospects with a primary focus on lithium. It’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. For more information about the company, please visit www.FirstEnergyMetals.com.
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