SunMirror AG: Exploration Update – Lithium Assay Results at Moolyella

[ Report ]

Zug (pta019/23.01.2024/10:15) - Zug, Switzerland: 23 January 2024– As an update to previous communications, SunMirror AG (the "Company", "SunMirror", and together with its direct and indirect subsidiaries the "Group", Vienna Stock Exchange: ROR1; ISIN CH0396131929), is pleased to provide further news on its exploration activities at its Moolyella project in Western Australia.

Highlights: -

* 65 rock samples were submitted to ALS laboratories for multi element analysis including lithium. These samples were collected by Geonomik Pty Ltd in the context of a site visit to define drilling locations for the Company's upcoming drilling campaign at Moolyella.
* Top five samples returned lithium values of:-
* 2.185 % Li2O (10,150 ppm lithium)
* 1.296 % Li2O (6,020 ppm lithium)
* 1.001 % Li2O (4,650 ppm lithium)
* 0.956 % Li2O (4,440 ppm lithium)
* 0.797 % Li2O (3,700 ppm lithium)

* 14 samples returned values > 0.1 % Li2O

Moolyella E 45/5573 – licence area 92 km2:-

The Moolyella Project is located approximately 160 km southeast of Port Hedland (on the Northwest coast of Australia) and 15 km east of the settlement of Marble Bar, in the Pilbara Region of Western Australia. Access is via sealed road from Port Hedland.

The area is known to be prospective for lithium as well as tin, tantalum and rare earths. In the past it has been worked for its high-grade tin mineralization and more recently, explored by a variety of junior exploration companies focused on the numerous outcropping pegmatites that occur in the area, some of which contain lithium bearing minerals, such as spodumene or lepidolite. The licence area is large enough to contain a future mining operation if an economic ore body is identified.

Laurent Quelin, Chairman and CFO of SunMirror AG, comments: "I am delighted with these new results from our Moolyella licence, especially as the rock samples that were collected were highly weathered in nature (see photos further below). A high grade of 2.185% Li2O from sample MY00268 (located 100m from an all-weather road) is especially encouraging and bodes well for future drill results. To put our lithium results into context, Kalamazoo Resources Limited (which recently spun out its lithium projects into Kali Metals Ltd) announced in February 2023 that it had identified spodumene-bearing pegmatites with grades up to 2.8% Li2O in its exploration licence, which borders our southern licence boundary. In addition, Global Lithium Resources Limited, which surrounds our licence on three sides is developing its Archer lithium deposit (comprising a swarm of spodumene bearing pegmatites over a 3km by 1km zone) reported an upgraded JORC 2012 Mineral Resource of 18.0 million tonnes at 1.0% Li2O in December 2022.

Moving forward, the next phase of activity will be a Heritage Site visit to site to approve the proposed location of the drill holes planned for later this Summer."

About SunMirror AG

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About SunMirror AG

The Group invests into strategic mineral exploration assets with a strong focus on sustainable green battery metals, like cobalt, lithium and nickel, as well as copper and gold deposits in developed markets. The company aims to either produce minerals at a later stage or sell those assets to strategic buyers. SunMirror's key exploration assets acquired in 2020, are currently located in Western Australia but the Group aims to complement its portfolio with additional early stage mining licenses, focused on Europe with the ultimate aim of providing a secure, stable and sustainable supply of battery raw materials to support the electric revolution. SunMirror's core belief is that exploring for green battery metals must be accompanied by a sustainable approach to mining, thereby aiming to become a reference in terms of "responsible exploration".

The company's shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (auction trading, ticker: ROR1). For further information, please visit: www.sunmirror.com.

Contact

COMMUNICATION PUBLIC AFFAIRS
Alexander Schmitt-Geiger

Office Munich
Schwandorfer Str. 3
81549 Munich – Germany
Tel.: +49 (0) 89 51 39 96 00
Mail: schmitt@public-affairs-net.de
Web: www.public-affairs-net.de

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