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NEW YORK, NY – 
CGRA Mining Inc. is excited to announce the successful completion of field mapping and sampling aimed at determining the potential for Lithium (Li) deposits on selected prospecting concessions owned by CGRA in the Dodoma Region of Tanzania. Following the appointment of Metminec (Pty) Ltd to execute this exploration project, the work has now been independently verified by competent persons in accordance with the industry standards of JORC, SAMREC, and NI 43-101. The comprehensive Geology Report, along with the Magnetic Data Processing & Interpretation Report, is now available for review on the CGRA Mining website.
During the field mapping phase, thirty-two rock samples were collected and subsequently submitted to the SGS Laboratory in Mwanza, Tanzania, for geochemical analysis using ICP-OES (Inductively Coupled Plasma Optical Emission Spectrometry). The primary objective of this analysis was to determine the presence of economically significant elements, particularly lithium, within these rock types. To date, analytical results for twenty-four samples have been received, revealing that twenty-two contain traces of lithium, with the highest recorded content at 44 parts per million (ppm). Additionally, most samples have shown ratios indicative of potential rare element enrichment, further underscoring the area’s potential for lithium extraction.
This discovery is particularly significant, as the concession area is characterized by pegmatites, geological formations renowned for their capacity to host substantial deposits of spodumene. Spodumene, a critical lithium aluminum inosilicate mineral, is one of the most concentrated sources of lithium, making it highly sought after for extraction. Its extractive efficiency gives it a notable advantage over other lithium sources, such as lithium brines. Unlike these other sources, spodumene can be mined and processed in a more straightforward and predictable manner, making the mining process well established and preferable for lithium extraction.
Encouragingly, the positive samples collected span both the southern and northern portions of the project area, suggesting a widespread dispersion of lithium across the entire project. This uniform distribution is a positive indicator of the extensive presence of lithium-bearing rock, enhancing the potential for a sizeable and economically viable resource. Further detailed exploration and analysis will now be undertaken to assess the full scope of this promising distribution and to ascertain the precise grade and volume of the potentially hugely significant lithium deposit that has been uncovered.
Following Metminec’s recommendation, the positive samples have been dispatched to South Africa for further analysis at the SGS Laboratory, utilizing the ICP-MS (Inductively Coupled Plasma Mass Spectrometry) instrument. This advanced technique is expected to provide a deeper analysis of the collected samples, ensuring the highest levels of precision. Additionally, SGS has been requested to employ XRD (X-ray Diffraction) analytical techniques to further assist in the identification and quantification of the minerals within the provided rock samples.
“The results announced today not only justify the unwavering belief management has held in this project from the outset but also bring immense satisfaction as this belief is now supported by concrete, undeniable, and unquestionable evidence. This milestone is a testament to our team’s dedication and the potential we envisioned from the very beginning of this project. These findings are particularly encouraging, given that they have been obtained from only 10% of our overall tenement area, which in total spans more than 500 square kilometers. This early success hints at the vast potential that remains untapped across the larger concession, underscoring the need for further exploration. Moreover, this exciting hard rock spodumene discovery, coupled with the resurgence in the lithium sector, instils great confidence in our team and highlights the exceptional potential this project has. In response to this significant milestone, we have instructed the Metminec team to immediately undertake follow-up sampling and drilling at the locations showing the highest traces of lithium and to continue working towards the completion of our Preliminary Economic Assessment during Q2 of this year,” commented Nicolas Link, Chairman of CGrowth Capital Inc.
For regular CGrowth Capital (CGRA) updates, you are invited to view the company’s website and/or to follow the company’s Twitter account:
Website: https://cgrowthcapital.com
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
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