VANCOUVER, British Columbia, Sept. 09, 2021 (GLOBE NEWSWIRE) -- VALOREM RESOURCES INC. (the "Company" or "Valorem"), (CSE: VALU) (Frankfurt: 1XW1) is pleased to provide the following update on the Company’s Black Dog Lake Gold Property located in the James Bay Area, northwestern Quebec, Canada. The Black Dog Lake Gold Property is located in the James Bay Region of Quebec, approximately 150 km east the town of Eastmain, and approximately 60 km north of the town of Nemiscau. The property is comprised of 19 contiguous mineral claims that cover an area of approximately 1,002.8 ha and are within NTS map sheet 33C01. The centre of the property is situated at approximately 413800 m Easting and 5786000 m Northing, UTM NAD83 Zone 18. The Company holds an exclusive option to acquire an undivided 100% interest in the Black Dog Lake Gold.
On March 18, 2021, a field crew of two prospectors were mobilized to the property for 7 days to locate, explore and rock sample the main target area of Black Dog Lake Gold Property. By April 25, 2021, initial exploration rock samples were submitted to the chemical lab in Val d’Or. The best result received by Valorem on April 27, 2021 was 6.3 g/t gold, from rock sample # B00376054 from the main Black Dog prospect.*
*The reader is cautioned that this result is from a grab sample that may not be representative of mineralization throughout the property. The property is in the exploration stage and there are no resources or reserves on the property, and there can be no assurance that if significant mineralization is delineated on the property that it can be economically recovered.
This work followed the recommendations in the NI 43-101 report, "Technical Report on the Black Dog Lake Property – Quebec, Canada" dated effective December 8, 2020 prepared by Mr. Darren L. Smith, M.Sc., P. Geo for Valorem (the "Report"). The report concluded that mineralization at the Black Dog Zone extends at least 600 metres in length and over 100 metres down dip with an apparent thickness of 0.6 to 3.6 metres. The zone remains open along strike and at depth, as demonstrated by historical wide-spaced drilling. The full report is available on SEDAR under the Company's profile.
Very attractive historical drill core intercepts are: 15.2 g/t Au over 0.6 metres (in LH-88-01); 5.6 g/t Au over 1.1 metres (in LH-88-02); and 4.3 g/t Au over 0.88 metres (in LH-88-03), indicating a fertile environment for mineralization (Shelp, G. (1989 - GM49584). Lac Hudson Project, James Bay Quebec, Report 1. Eastmain Resources Inc., "Shelp, 1989 – GM49584").
The Black Dog Zone is described as an auriferous (i.e. gold-bearing) horizon of “silicified and carbonatized sulphide facies iron formation.” The zone is sheared, banded, and locally brecciated with up to 30% pyrrhotite, 5% pyrite, and trace chalcopyrite, and magnesium-rich carbonate in veinlets and disseminations. The host is a sequence of felsic and mafic volcanics and banded felsic to mafic tuffs. The gold mineralization from the iron formation also contains anomalous zinc and copper. The best historical drill result of the Eastmain Resources Inc. 1988 drill program was 15.2 g/t Au, 22.3 g/t Ag, 0.10% Cu, and 0.52% Zn over 0.6 metres (LH-88-01) (Shelp, 1989 - GM49584).
Numerous gold producers occur within lithologies similar to the sequence described above, most significantly the Homestake Mine in South Dakota, USA, and the Lupin deposit in Canada. (Graton-Sales Aime 1968).
On March 18, 2021, On Track Exploration Ltd submitted an exploration proposal to Valorem on the Black Dog gold target. The program consisted of geological survey, prospecting – OreVision® and MAG-GPS surveys in an area as shown on the accompanying map.
A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/21fd8b2f-2764-4e20-a771-b60525a445b5
On June 24th, 2021, a field crew of a geologist and a prospector were mobilized to the property for two days. The Company expects that a comprehensive geological report will be completed soon, based on all previous work on the property, all recent sampling, and the results of the Abitibi geophysical survey expected to start the first week of September 2021.
The geophysical survey will consist of OreVision® and MAG-GPS. The OreVision® can reveal targets at a greater depth than conventional IP without compromising near-surface resolution. OreVision® technology enables Abitibi Geophysics to read a large number of dipoles spacings along individual survey lines and combine the results into a 3D interpretation. The MAG-GPS survey will be completed immediately prior to the OreVision survey. The OreVision and the Mag-GPS surveys to be conducted by Abitibi Geophysics Inc. will cover the area shown on the accompanying map.
The ground geophysical surveys will provide new targets for the upcoming drilling. The grid will yield 7.2 line-km covering a zone 800 metres long by 400 metres wide grid on 50 metres spaced lines, to capture the easterly trending significant regional structure that controls the Black Dog Lake gold target.
On July 26, 2021, the property owner on behalf of Valorem acquired an additional claim CDC 2615530, located close to the main target area of Black Dog target, which becomes part of the optioned property.
On August 27, 2021, Valorem prepared a property renewal application number # 1829165 to be submitted to MRN in Quebec for the purpose of renewing the property for two more years subject to the completion of the 2021 geophysical and the geological surveys, anticipated by November 2021.
Preparation of this press release has been supervised by, and approved by Dr. Stewart A Jackson, PGeo., a Qualified Person under National Instrument 43-101, and a technical advisor to the Company.
About Valorem Resources Inc. Valorem explores and develops precious metal properties in the Americas. For further details and maps, please see: https://valoremresources.com/
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings which are available at www.sedar.com
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Commerce Resources Corp. Initiates Mineral Processing Program to Determine Final Prefeasibility Flowsheet Design Criteria
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCWX:CMRZF) (the "Company" or "Commerce") is pleased to…
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / Commerce Resources Corp. (TSXV:CCE)(FSE:D7H0)(OTCWX:CMRZF) (the "Company" or "Commerce") is pleased to announce that it has initiated a mineral processing program to determine the final Prefeasibility Study (PFS) design criteria of the front-end flowsheet for the Ashram Rare Earth and Fluorspar Deposit. The program has been developed in coordination with the Qualified Persons for the Project's PFS flowsheet design and will be carried out at Hazen Research, where the Company's conventional base flowsheet has been developed.
The program is designed to confirm the mineral processing components in order to establish the front-end flowsheet design for the PFS. The design of the downstream hydrometallurgical flowsheet for the PFS is currently being confirmed as part of the ongoing program to produce mixed rare earth carbonate concentrate to satisfy several requests by global processors (see news release dated September 9, 2021). Specifically, the mineral processing program will include,
- Incorporation of the advancements to the flotation circuit, made by academic and government institutions, into the Company's base flowsheet developed at Hazen Research.
- Final flotation and magnetic separation development testwork to confirm the optimal reagent suite and conditions of the front-end flowsheet.
- Phase II comminution variability testing on nine (9) domain composites of drill core collected throughout the deposit.
- Front-end flowsheet variability testing on early/mid mine-life deposit material using domain composites.
- Filtration testing on flotation concentrate and tailings to determine material handling and tailings management facility design.
Company President, Chris Grove comments, "The Company has significantly advanced the flowsheet's development through focused work in past programs at Hazen Research as well through the numerous optimizations and discoveries from our institutional collaborations, which continue today. As we advance through the later stages of the PFS for Ashram, it is now time to confirm the flowsheet's PFS design criteria which is the next step in advancing the study to completion. Flowsheet development remains an ongoing process through to Feasibility and is commonly refined during operation, and as such, the Company will continue to advance the test work and unlock the considerable potential for optimization that remains in which Hazen and our institutional metallurgical partners have outlined."
Flotation and Wet High Intensity Magnetic Separation (WHIMS)
Approximately 5 tonnes of Ashram Deposit bulk sample material, at a grade of 2.0% rare earth oxide (REO), have been crushed and ground to use as feed for the test program. The initial focus of the program will be to incorporate into the base flowsheet the discoveries and advancements made by the academic and government institutional groups, namely CanmetMINING (a branch of Natural Resources Canada - NRCan) and Université Laval, whose test programs have been supported by various provincial and federal grant programs. The successes of these programs include significant reductions in reagent quantities, alternative reagent suites, and improved recoveries in cleaner-stage flotation (see news releases dated May 13, 2020, and December 17, 2019, respectively). Once the flotation component of the flowsheet has been confirmed and the optimal flotation reagent scheme and conditions have been determined, a scale-up will be completed, which may include additional piloting.
Following confirmation of the flotation circuit design, the magnetic separation circuit will be further advanced and optimized. The initial work on the magnetic separation stage (WHIMS) proved extremely successful with a strong upgrading factor at very high stage recoveries (high 80s to mid-high 90s) resulting in the high-grade monazite concentrates (>40% rare earth oxide) comparable to global producers. As such, significant room remains for additional improvement and the test work planned herein for the magnetic separation stage will target further optimization of this circuit including the evaluation of different types of magnetic separator equipment.
Comminution and Variability
The Phase II comminution test work is currently being carried out by SGS Canada on nine (9) rock unit domain composites and will include Bond low energy impact testing (CWi), JK drop-weight testing (DWT), SAG mill comminution testing (SMC), Bond rod mill grindability testing (RWi), Bond ball mill grindability testing (BWi), and Bond abrasion testing (Ai). The Phase II comminution test work will complement the Phase I work completed in 2012 on near-surface drill core intersections (<71 m depth) located in the central areas of the deposit. Comminution data is a critical component of a PFS and is required to determine appropriate equipment sizing, maintenance cycles, and energy requirements at the mill.
As part of the overall program, variability testing will be completed to expand upon previous work, including applying the base case flotation flowsheet to the nine (9) domain composites currently being used for the comminution testwork. The information will complement the comminution data and further constrain equipment sizing and other critical design criteria for the process plant. A specific focus will be placed on material which is expected to comprise the initial years of mine-life.
Variability testing is a critical component of flowsheet development and ensures that the process plant can handle the natural variability of the deposit mineralization. Some of this work has already been completed throughout the test programs over the past few years and include testwork on drill core at different locations within the deposit, as well as bulk sample material from surface outcrop.
As part of the overall program, filtration testing will be completed on flotation concentrate and tailings to determine material handling and tailings management facility design. Tests will include static settling, vacuum, and pressure filtration and complement the preliminary filtration testing completed as part of the 2015 flotation pilot plant operation. The data collected will be used to determine the appropriate filtration methods and equipment sizing for operation at the process plant, as well as determine the optimal handling, transport, and storage methods for the concentrate and tailings.
The current flowsheet for the Ashram Rare Earth and Fluorspar Deposit, developed by Hazen Research, uses conventional unit processes to produce a high-grade rare earth mineral (monazite) concentrate that is comparable to active global hard-rock REE producers. Specifically, the Ashram flowsheet utilizes a flotation - HCl leach - magnetic separation process approach to achieve high-grade (>40% REO) monazite concentrates at high recovery, similar in nature to those which are commonly processed globally today.
NI 43-101 Disclosure
Darren L. Smith, M.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, supervised the preparation of the technical information in this news release.
About Commerce Resources Corp.
Commerce Resources Corp. is a junior mineral resource company focused on the development of the Ashram Rare Earth and Fluorspar Deposit located in Quebec, Canada. The Company is positioning to be one of the lowest cost rare earth producers globally, with a specific focus on being a long-term supplier of mixed rare earth carbonate and/or NdPr oxide to the global market. The Ashram Deposit is characterized by simple rare earth (monazite, bastnaesite, xenotime) and gangue (carbonates) mineralogy, a large tonnage resource at favourable grade, and has demonstrated the production of high-grade (>45% REO) mineral concentrates at high recovery (>70%) in line with active global producers. In addition to being one of the largest rare earth deposits globally, Ashram is also one of the largest fluorspar deposits globally and has the potential to be a long-term supplier to the met-spar and acid-spar markets.
On Behalf of the Board of Directors
COMMERCE RESOURCES CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include, but are not limited to, statements regarding the progress of the Company's metallurgical program and any future methods employed therein, the Company's ability to reduce downstream processing costs and risk, the Company's ability to repeat and produce high-grade monazite concentrates, the Company's ability to become one of the lowest cost rare earth producers globally as well as its potential ability to be a long-term supplier to the met-spar and acid-spar markets. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the methods proposed do not work as well as expected, the leach residue may not be usable, that the Company may experience difficulties producing concentrate or achieving an upgrade to the concentrate; changing costs for mining and processing; increased capital costs; the timing and content of the work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; that testing of the Company's process may not prove successful and even if tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The novel strain of coronavirus, COVID-19, also poses new risks that are currently indescribable and immeasurable. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
SOURCE: Commerce Resources Corp.
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ZincX Resources Announces Ground-Based Gravity Survey for the Akie and Mt. Alcock Properties
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / ZincX Resources Corp. ("ZincX Resources" or the "Company") (TSXV:ZNX) is pleased to announce that it…
VANCOUVER, BC / ACCESSWIRE / September 28, 2021 / ZincX Resources Corp. ("ZincX Resources" or the "Company") (TSXV:ZNX) is pleased to announce that it has engaged Simcoe Geosciences Ltd. ("Simcoe") to conduct a ground-based gravity survey over select targets on the Akie and Mt. Alcock Properties. The program has commenced and its expected duration is approximately 10 - 14 days depending on progress and weather conditions.
The Company has engaged Simcoe Geosciences Ltd. of Stouffville, Ontario to conduct a ground-based gravity survey over select targets on the Akie and Mt. Alcock properties. The primary goal is to enhance and infill the existing airborne gravity data gathered previously over the linear corridor from Akie north to Mt Alcock with a specific focus on the surface expression of the Cardiac Creek deposit and the lightly drilled Zn-Pb-Ag rich barite cap at Mt. Alcock.
The survey will take advantage of the known density contrast between the barite rich Zn-Pb-Ag SEDEX style sulphide mineralisation and the black siliceous shale host rocks of the Gunsteel Formation. The Company has an extensive physical property database from Cardiac Creek drill core that has been used to test and design for geophysical surveys.
"We are excited to extend the field season in the Kechika trough with a maiden ground gravity program on the Cardiac Creek deposit and the main barite showing at Mt. Alcock," commented Peeyush Varshney, the Company's President and CEO. "With detailed new ground-based geophysical data to examine we should be well positioned leading into the 2022 field season with planned drill campaigns on the Akie and possibly the Mt. Alcock property."
The program will consist of approximately 10.5 line-kilometres on two grids, one at Akie centered on the strike length of the Cardiac Creek deposit; and one centered on the main barite zone at Mt. Alcock. Line spacing will be approximately 100 to 200 metres and gravity readings will be taken every 50 metres.
The Akie Grid will target the Cardiac Creek deposit covering the core of the deposit and its strike extents to the northwest and southeast. The grid will consist of ten 200-metre spaced lines with gravity stations every 50 metres for an approximate total of 6 line-kilometres with an average line length of 600 metres. Gravity readings will be collected every 25 metres directly over the surface trace of the deposit.
The Mt. Alcock Grid will target the large Zn-Pb-Ag rich barite showing that has been the focus of historical drilling. The survey grid will cover the showing as well as its strike extents to the northwest and southeast. The grid will consist of eight 100 to 200 metre spaced lines with gravity stations every 50 metres for an approximate total of 4.5 line-kilometres with an average line length of 560 metres. Line spacing directly over the barite showing will be 100 metres and increasing to 200 metres along the strike extents.
This survey will be the first modern ground based geophysical survey conducted on either the Akie or Mt. Alcock properties in over 30 years.
The data acquired during this ground-based gravity survey will be used in conjunction with a LiDAR survey that is being planned. The results will help define additional targets along the strike extents of the Cardiac Creek deposit that can be rapidly assessed against existing drilling and other datasets and immediately followed up with drilling during the 2022 exploration program. It is expected that the Mt. Alcock Grid will generate a positive gravity response from the barite rich showing and the results will delineate other high-priority exploration targets both down-dip and along strike of the showing. These targets will be assessed against the known drilling and other geochemical and geological datasets and prioritized for future exploration programs on the property.
Simcoe Geosciences Ltd. is a geophysical contractor specializing in geophysical surveys and consulting services to the exploration, environmental and engineering industries. Management has considerable industry related experience including ground gravity surveys. Simcoe will utilize state of the art equipment to acquire high quality data and will provide detailed data processing, and modeling using 2D modeling software to deliver a comprehensive interpretation report with targets identified.
The Mt. Alcock Property
Triumph Resources Ltd. drilled the Mt. Alcock Ba-Pb-Zn-Ag showing in 1989 with 9 holes totalling 1,111.60 metres, focused on the prominent white-weathered barite zone that is present on surface. The first drilling program intersected a significant body of bedded barite with seams of sphalerite and galena. The drilling returned some significant results indicating the potential of economic grades of Pb, Zn, and Ag. Historical drilling results included:
- 9.30% Zn+Pb & 1.20 oz/t Ag over 8.8 metres intersected in drill hole AK 89-3 Including 14.20% Zn+Pb & 1.60 oz/t Ag over 3.6 metres (*).
- 6.90% Zn+Pb & 0.79 oz/t Ag over 10.5 metres intersected in drill hole AK 89-9 (*)
(*) Murrell M. and Roberts W., 1990. 1989 Exploration Program on the Mt. Alcock Property in the Kwadacha Recreational Area, Northern British Columbia, Ministry of Energy and Mines, Assessment Report 19829, 111p.
2021 Cardiac Creek Drilling Program
The Company recently completed its 2021 drill program consisting of five drill holes totalling 2,670 metres targeting the Cardiac Creek deposit. The purpose of the program was to obtain additional metallurgical material to be used in advanced metallurgical testing with a focus on enhancing recoveries and boosting concentrate grades for both zinc and lead; using a state-of-the-art metallurgical testing facility owned by key strategic shareholder Tongling Non-Ferrous Metals of China (Tongling).
The Akie Zn-Pb-Ag Project
The 100% owned Akie property is situated within the Kechika Trough, the southernmost area of the regionally extensive Paleozoic Selwyn Basin and one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by ZincX Resources since 2005 has identified a significant body of baritic-zinc-lead SEDEX mineralization known as the Cardiac Creek deposit. The deposit is hosted by siliceous, carbonaceous, fine-grained clastic rocks of the Middle to Late Devonian Gunsteel Formation.
The Company updated the estimate of mineral resources at Cardiac Creek in 2018, as follows:
5% Zinc Cut-Off Grade
Zn (B lbs)
Pb (B lbs)
Ag (M oz)
The Company announced robust positive results from the 2018 Preliminary Economic Assessment (PEA). The PEA envisages a conventional underground mine and concentrator operation with an average production rate of 4,000 tonnes per day. The mine will have an 18-year life with potential to extend the life-of-mine (LOM) through resource expansion at depth. Key parameters for the PEA are as follows:
Mined Head Grades
7.6% Zn; 1.5% Pb; 13.08 g/t Ag
Milled Head Grades (after DMS2 upgrade)
10.0% Zn; 1.9% Pb; 17.17 g/t Ag
Total Payable Metal (LOM)
$302.3M including $45.7M contingency
LOM Total CAPEX
$617.9M including $58.5M contingency
All-in Total OPEX
$102.4 per tonne milled
1. The base case used metal prices are calculated from the 3 year trailing average coupled with two year forward projection of the average price; and are: US$1.21/lb for zinc, US$1.00/lb for lead and US$16.95 for silver. A CDN$/US$ exchange rate of 0.77 was used. The NPV discount rate is 7%. 2. DMS = dense media separation. 3. All dollar amounts expressed in Canadian dollars.
The PEA is considered preliminary in nature and includes mineral resources, including inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves have not yet demonstrated economic viability. Due to the uncertainty that may be attached to mineral resources, it cannot be assumed that all or any part of a mineral resource will be upgraded to mineral reserves. Therefore, there is no certainty that the results concluded in the PEA will be realized.
Kechika Regional Project
In addition to the Akie Project, the Company owns 100% of eight of eleven large, contiguous property blocks that comprise the Kechika Regional Project including the advanced Mt. Alcock prospect. The Kechika Regional Project also includes the Pie, Yuen and Cirque East properties which the Company maintains a significant 49% interest with partners Teck Resources Limited (TSX: TECK.B) and Korea Zinc Co. Ltd holding 51%. These properties collectively extend northwest from the Akie property for approximately 140 kilometres covering the highly prospective Gunsteel Formation shale; the main host rock for known SEDEX zinc-lead-silver deposits in the Kechika Trough of northeastern British Columbia. These projects are located approximately 260 kilometres north northwest of the town of Mackenzie, British Columbia, Canada.
Ken MacDonald P.Geo., Vice President of Exploration for the Company, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release. Mike Makarenko P.Eng, JDS Energy and Mining, is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the PEA technical information contained in this release.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
ZINCX RESOURCES CORP.
PEEYUSH VARSHNEY, LL.B
CEO & CHAIRMAN
SOURCE: ZincX Resources Corp.
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Ameriwest Lithium Awarded Lithium Clay Rights in Arizona
VANCOUVER, British Columbia, Sept. 28, 2021 (GLOBE NEWSWIRE) — Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF)…
VANCOUVER, British Columbia, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0), a North American lithium exploration and development company, is pleased to announce it has it has been awarded seven exploration permits by the Arizona State Land Department to allow the Company to explore for prospective lithium-bearing clays located on lands in west-central Arizona. The property totals nearly 2,859 acres (1,157 hectares) in Yavapai County. Ameriwest refers to the prospect as the Thompson Valley Hectorite Deposit (“Thompson Valley” or the “Property”).
David Watkinson, President and CEO of Ameriwest stated, “We are pleased to make this, the fourth of a series of lithium exploration properties recently staked by the Company in the United States. This deposit represents prospective lithium sedimentary mineralization with surface or near-surface exposure of lithium-bearing clays, with historic grades reported as comparable to those found in similar sedimentary deposits found in Clayton Valley, NV. Ameriwest’s technical team has put together a series of high-quality exploration properties in an extremely short period of time and each of these properties holds promise for the discovery of lithium and, with exploration success, the potential delineation of mineral resources.”
Surface clay deposits were initially discovered in the area in the mid-1950’s by Joseph Lyles and became known as the “White Hills” deposits. The deposits contain bentonite (montmorillonite) and hectorite clays. The deposits have also been sampled historically and are known to contain lithium. Exploration data from the 1960’s shows lithium content of the bentonite ranges from 0.3 to 0.5% Li2O (1,400 to 2,300 ppm Li), which is similar to the lithium contents for other lithium-clay projects located further north in Arizona (Source: Lithium Bearing Bentonite Deposit, Yavapai County, Arizona, J. J. Norton, Geology Survey Research, 1965). Note that these are historic samples taken prior to the implementation of National Instrument 43-101 (“NI 43-101”), QA/QC procedures are unknown, and Ameriwest’s geologists cannot verify the results. The results do indicate the presence of lithium and warrant the need for additional exploration to evaluate the deposits.
Mining operations in the area began in 1985 at the adjacent Lyles Hectorite Mine and it was reported that a few truckloads of the white clay were shipped per year for limited use as a viscosifier for cosmetics and pharmaceuticals. The mine is currently owned and operated by Vanderbilt Minerals, LLC, a subsidiary of R.T. Vanderbilt Holding Company, a private industrial minerals and chemical company that has operated since 1916 and produces and sells industrial minerals and chemicals on a world-wide basis.
The Lyles Mine is located on a State mineral lease adjacent to Ameriwest’s lithium’s mineral leases and exploration permits. The deposits are shallow, occurring at or near surface, perhaps under a sandy or hard caliche layer. It has been reported that the overall clay sequence is 70 feet (21 m) thick, containing a hectorite bed with a thickness ranging from 8 to 35 feet (2.4 to 11 m). This is supported by an older reference that indicates a thickness of over 40 feet (12 m) as a relatively uniform deposit over the area. Note that the vicinity of Ameriwest’s Property adjacent to the Lyles Mine does not guarantee exploration success or that mineral resources or reserves will be defined. No mineral resources or reserves have yet been delineated on the Property.
Ameriwest will be moving towards a field exploration program of geologic mapping and surface sampling to better define the extent and grade of the deposit. The location has good access and is not far from State Highway 93. A county road passes directly through the prospect in an area known as Thompson Valley. The lands are 120 miles (190 km) north of Phoenix, and a large copper mine is found near Bagdad, AZ 35 miles (56 km) to the northwest.
Greg Bell, P.E. (Arizona), a qualified person under the NI 43-101 instrument, has reviewed and approved the technical content of this release.
Ameriwest invites interested stakeholders and shareholders alike to contact our investor relations team or visit our website and sign-up for regular news alerts which will help provide timely updates of ongoing activities. Company management believes strongly in regular communications, updates, and reports from the field, as an important aspect of developing informative and useful engagement as the Company continues to help explore and develop the exciting and rapidly evolving lithium sector.
On Behalf of the Board of Directors,
President and Chief Executive Officer
For further information, please contact:
Invictus Investor Relations
Tel: +1 (604) 343-8661
About Ameriwest Lithium Inc. (CSE: AWLI) (OTC: AWLIF) (FSE: 5HV0)
Ameriwest Lithium Inc. is a Canadian-based exploration company with a focus on identifying strategic lithium mineral resource projects for exploration and development. The Company is currently focused on exploring Nevada’s Deer Musk East property, located in the prolific Clayton Valley, totalling 5,600 acres, the Railroad Valley property, totalling 6,200 acres and Edwards Creek Valley totalling 16,940 acres. Additionally, Ameriwest’s current resource portfolio includes the ESN Project, located in White Pine County, Nevada, and the Koster Dam property, located in the Clinton Mining Division of British Columbia, in which Ameriwest has a 45% interest.
For more information visit: https://ameriwestlithium.com/.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
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