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BeMetals Identifies Compelling Copper Exploration Targets from Shallow Aircore Drilling Results at Pangeni Project in Zambia

VANCOUVER, BC / ACCESSWIRE / October 6, 2021 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(FRA:1OI.F) (the "Company" or "BeMetals") is pleased to announce…

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VANCOUVER, BC / ACCESSWIRE / October 6, 2021 / BeMetals Corp. (TSXV:BMET)(OTCQB:BMTLF)(FRA:1OI.F) (the “Company” or “BeMetals”) is pleased to announce the results from a phase of some 4,350 metres of shallow aircore drilling recently completed at the Pangeni Copper Project (“Project” or the “Property”) in Zambia. This aircore program was designed to explore for extensions of copper mineralization discovered by the Company under thin Kalahari sand cover at several prospects, including the D Prospect, and to test several newly generated copper targets. The Pangeni Project is located in an area representing westerly extensions to the prolific Zambian Copperbelt.

HIGHLIGHTS OF THE 2021 PANGENI PROJECT AIRCORE PROGRAM

  • D-Prospect returns highest tenor aircore copper target in hole D7-04 on the Property to date of 3,183 parts per million (ppm) over 2 metres with 1 metre at 4,363ppm
  • Potential D-Prospect extension zone identified in aircore hole D3-15 of 1,217ppm copper over 3 metres with 1 metre at 1,344ppm some 1.4 kilometres southeast of previously drilled mineralization
  • Newly identified F – Target
  • Newly identified Q – Target some 3km southeast of the SW-Prospect

John Wilton, President and CEO of BeMetals stated, “We are encouraged with the results from the 2021 phase of shallow aircore drilling below the thin sand cover that has delivered a number of robust bedrock copper targets. These targets are potential extensions and/or potential vectors to higher-grade zones of copper mineralization we discovered in previous phases of drilling. In addition, a number of new standalone targets well situated geologically within the Property have been identified. To follow-up on these recent aircore results, we have commenced a program of approximately 1,400 metres of core drilling to test these compelling copper targets. We look forward to the results of the core drilling program that has the potential to both expand the footprint of the D-Prospect mineralization and test the exciting newly identified copper targets.

This exploration program continues to be jointly funded by BeMetals and Japan, Oil, Gas and Metals National Corporation (“JOGMEC”) that has allowed for acceleration of our exploration program. The Pangeni Project, together with our recently acquired Kazan Gold Project in Japan and ongoing exploration at the high-grade zinc-silver-gold-copper, South Mountain Project in Idaho, U.S.A., provides an excellent and building portfolio of projects with exciting growth potential for the Company.”

2021 PANGENI PROJECT EXPLORATION AND AIRCORE PROGRAM

Early in June the Company commissioned New Resolution Geophysics (NRG™) to fly an Xcite™ helicopter-borne electromagnetic survey over the Property and the interpretation of this data was used to define targets through improved stratigraphic and structural mapping for subsequent aircore testing. The Company has successfully completed a program of 4,353 metres of shallow aircore drilling and returned a number of significant bedrock copper geochemical targets beneath the Kalahari sand cover. These new bedrock copper targets represent both potential extensions to prospects where the Company discovered copper mineralization in previous phases of exploration and newly identified standalone targets in interpreted favourable geological settings for the development of sediment hosted copper deposits.

Figure 1 illustrates the location of the D7-C1, D3-C2, F4-C1, and Q3-C1 targets within the Project area. It also indicates the range of maximum copper values for each aircore hole from the recently completed 2021 program in blue circles with results from the previous phases of aircore drilling in the red circles.

Figure 1: 2021 Aircore Drilling Results (Blue Circles) and Previous Aircore Results (Red Circles)

D-PROSPECT

Figure 2 shows details of the 2021 aircore results plotted on a simplified cover regolith map of the D-Prospect area. The circles and labels indicate the range of maximum bedrock copper results for each shallow aircore hole in relation to the Company’s previous core drilled copper intersections at this prospect (aircore holes: D2-C1, D2-C2 and D3-C1). The highly anomalous D7-04 aircore target is indicated as 3,183ppm copper over 2 metres with the supporting adjacent D7-4A aircore hole returning 1,802ppm copper over 2 metres. The wide spacing of the D2, D7 and D3 aircore lines should be noted at some 400 metres along the interpreted strike of the units indicating the significant footprint of the mineralization.

Also indicated is the D-Prospect’s southeastern extension target some 1.4km from previous intersected mineralization as defined by aircore target D3-15 of 1,217ppm copper over 3 metres and supported by the adjacent D3-15B hole with 434ppm copper over 2 metres. Over much of these two D-Prospect targets the cover of the Kalahari sand is less than approximately 25 metres in thickness (See Tables 1 and 2 for details of these aircore holes).

Figure 2: D-Prospect Regolith Cover Map, 2021 Aircore Drilling Results as ppm Copper (Blue Circles with hole number, ppm Cu), Previous Aircore Results (Red Circles with ppm Cu) and Previous Drilled Core Hole Copper Intersections.

NEWLY IDENTIFIED AND DEFINED COPPER TARGETS

The 2021 aircore program has also identified and defined several new standalone copper targets for core drill testing. The F-Target represents a geological well-positioned bedrock copper geochemical anomaly with potentially several kilometres in strike. This anomaly is best indicated at the F4-C1 target where aircore holes F4-2A, F4-02 and F4-2B returned bedrock samples of 717 over 3 metres with 1,113 over 1 metre, 782 over 4 metres with 1,052 over 1 metre and 893 ppm copper over 1 metre respectively as adjacent holes over some 200 metres of lateral extent. The Q3-C1 Target, situated some 4km to the southeast of the SW-Prospect, has been defined by aircore holes Q3-09 and Q3-12 with 884 over 1 metre and 502ppm over 1 metre copper respectively. The centre of this target is mapped by aircore holes Q3-02 and Q3-03 with 1,260 over 3 metres with 2,146 over 1 metre and 982 over 5 metres with 1,545ppm over 1 metre copper respectively that were completed in the 2020 exploration program.

Table 1: 2021 Aircore Program Selected Hole Results

Aircore Hole ID

From
(m)

To
(m)

Sample Interval
(m)

Copper
(ppm)

Kalahari Sand Thickness

D7-04

27

28

1

4,363

D7-04

28

29

1

2,004

26

D7-4A

25

26

1

1,672

D7-4A

26

27

1

1,932

24

D3-15

36

37

1

1,266

D3-15

37

38

1

1,344

D3-15

38

39

1

1,041

34

D3-15B

27

28

1

447

D3-15B

28

29

1

422

25

F4-2A

27

28

1

508

F4-2A

28

29

1

531

F4-2A

29

30

1

1,113

26

F4-02

20

21

1

586

F4-02

21

22

1

580

F4-02

22

23

1

913

F4-02

23

24

1

1,051

20

F4-2B

26

27

1

893

23

Q3-09

70

71

1

884

69

Q3-12

62

63

1

502

60

Q3-02*

59

60

1

2,146

Q3-02

60

61

1

558

Q3-02

61

62

1

1,077

56

Q3-03*

56

57

1

753

Q3-03

57

58

1

824

Q3-03

58

59

1

977

Q3-03

59

60

1

1,545

Q3-03

60

61

1

814

56

*Results from 2020 Aircore Program Previously Reported

Note: Sample widths are drilled lengths as true widths are unknown at this time. The aircore drilling is intended to sample the bedrock and saprolite material at the base of the Kalahari sand cover only and holes are stopped generally between 3-5m of this contact.

QUALITY ASSURANCE AND QUALITY CONTROL

On September 15, 2021, an independent laboratory, Intertek Genalysis of Australia, provided results from a set of samples from the 2021 aircore program. These results were determined using multi-acid, near total digest, and analysed by Inductively Coupled Plasma (“ICP”) Optical (Atomic) Emission Spectrometry (“OES”). The sampling was conducted with a robust sampling protocol based upon sequential 1 metre samples that included the appropriate insertion of standard reference material, duplicates, and blanks into the sample stream in the field.

Field operations and management have been provided by Remote Exploration Services (“RES”) an independent geological consulting and contracting company. The aircore drilling was conducted by Blurock Mining Services, of Kitwe, Zambia. Details of the sampling protocol were provided in BeMetals news release “BeMetals Returns Positive Results From Phase 1 Aircore Drilling Program At Pangeni Copper Project,” dated November 15, 2018, available on www.bemetalscorp.com and SEDAR.

Table 2: 2021 Aircore Program Selected Hole Results, Hole ID, Azimuth, Dip, End of Hole Depth, Collar co-ordinates

Aircore Hole ID

Azimuth Degree

Dip Degree

End of hole Depth (m)

UTM_X

UTM_Y

Elevation

D7-04

Vertical

-90

29

177549

8601553

1314

D7-4A

Vertical

-90

27

177646

8601502

1304

D3-15

Vertical

-90

39

179148

8601021

1249

D3-15B

Vertical

-90

30

179260

8600964

1242

F4-2A

Vertical

-90

30

174964

8601003

1314

F4-02

Vertical

-90

24

174883

8601077

1290

F4-2B

Vertical

-90

27

174823

8601142

1309

Q3-09

Vertical

-90

71

172890

8584552

1164

Q3-12

Vertical

-90

64

173108

8583998

1155

Q3-02

Vertical

-90

64

173036

8584357

1159

Q3-03

Vertical

-90

61

173077

8584280

1162

ABOUT THE PANGENI COPPER PROJECT

The Pangeni Project is located on the western extension of the Zambian Copperbelt, within the Lufilian Arc, underlain by Katangan Supergroup metasediments situated unconformably on basement schists and gneisses, which are covered by a thin veneer of Kalahari sands. The open pit Sentinel Copper Mine is operated by First Quantum Minerals Ltd. some 130 kilometres to the northeast of the Pangeni Project (See Figure 3). A number of major international mining companies have identified this region of the Zambian Copperbelt to be prospective for the discovery of tier one copper mines and are also conducting extensive exploration work in this area. The Pangeni Project property is geologically prospective for the following deposit types; Basement-hosted Cu (analogues: the Lumwana Deposit, Nyungu Prospect), Sediment-hosted stratiform Cu-Co (analogues: Nchanga, Konkola, Nkana, and Mufulira Deposits), other Domes Region Deposits e.g. Sentinel, and Kansanshi and DRC Copperbelt Deposits e.g. Lonshi, Frontier, Kamoa-Kakula).

Figure 3: Regional Location of the Pangeni Copper Exploration Project

ABOUT BEMETALS CORP.

BeMetals is a precious and base metals exploration and development company focused on becoming a leading metal producer through the acquisition of quality exploration, development and potentially production stage projects. The Company has recently established itself in the gold sector with the acquisition of certain wholly owned exploration projects in Japan. BeMetals is also progressing both its advanced high-grade, zinc-silver-gold-copper polymetallic underground exploration at the South Mountain Project in Idaho through a preliminary economic assessment, and its tier-one targeted, Pangeni Copper Exploration Project in Zambia. Guiding and leading BeMetals’ growth strategy is a strong board and management team, founders and significant shareholders of the Company, who have an extensive proven record of delivering considerable value in the mining sector through the discovery, construction and operation of mines around the world.

The technical information in this news release for BeMetals has been reviewed and approved by John Wilton, CGeol FGS, CEO and President of BeMetals, and a “Qualified Person” as defined under National Instrument 43-101.1

ON BEHALF OF BEMETALS CORP.

“John Wilton”
John Wilton
President, CEO and Director

For further information about BeMetals please visit our website at bemetalscorp.com and sign-up to our email list to receive timely updates, or contact:

Derek Iwanaka
Vice President, Investor Relations & Corporate Development
Telephone: 604-609-6141
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” and “forward looking information” (as defined under applicable securities laws), based on management’s best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to future exploration, development and advancement of the South Mountain Project, the Pangeni project and the Japan properties, and the acquisition of additional base and/or precious metal projects. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “forecasts”, “anticipates”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “goal”, “objective”, “prospective”, and similar expressions, or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: the actual results of exploration activities, the availability of financing and/or cash flow to fund the current and future plans and expenditures, the ability of the Company to satisfy the conditions of the option agreements for the South Mountain Project and/or the Pangeni Project, and changes in the world commodity markets or equity markets. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any forward-looking statements or forward looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company’s most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.

SOURCE: BeMetals Corp.

View source version on accesswire.com:
https://www.accesswire.com/666972/BeMetals-Identifies-Compelling-Copper-Exploration-Targets-from-Shallow-Aircore-Drilling-Results-at-Pangeni-Project-in-Zambia






Author: BeMetals Corp.

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Quaterra Resources Awards Contract for the Further Advancement of Its MacArthur Oxide Copper Project in Yerington, Nevada

Vancouver, British Columbia–(Newsfile Corp. – October 27, 2021) – Quaterra Resources Inc. (the "Company") (TSXV: QTA) (OTCQB: QTRRF) is pleased to announce…

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Vancouver, British Columbia–(Newsfile Corp. – October 27, 2021) – Quaterra Resources Inc. (the “Company“) (TSXV: QTA) (OTCQB: QTRRF) is pleased to announce that it has awarded McClelland Laboratories, Inc. (“McClelland“) a key contract to support the advancement of the MacArthur oxide copper project.

McClelland has been appointed to complete the metallurgical testing program of the 12 ton (11 tonne) representative sample collected in the 2021 drilling campaign (see news release dated October 6, 2021, “Quaterra Resources Announces Positive Assay Results at MacArthur Copper Project, Nevada and Potential for Resource Expansion“). McClelland will perform variability testing on fifteen leach columns through Q2 2022 in order to further validate the metallurgical parameters to be utilized in the MacArthur Pre-Feasibility Study (“PFS“).

McClelland, based in Sparks, Nevada, maintains a 44,000 square-foot facility and has been a leader in servicing the mining industry for over 33 years.

Quaterra CEO Travis Naugle states, “We are very pleased to have engaged with a leading Nevada-based contractor to advance a key aspect of the MacArthur PFS so soon after the recently announced oversubscribed private placement. We look forward to continuing with further important steps on the MacArthur oxide copper project.”

About Quaterra Resources Inc.
Quaterra Resources Inc. is a copper-gold development and exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its MacArthur oxide copper project in the historic Yerington Copper District, Nevada. It continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.

On behalf of the Board of Directors,
Stephen Goodman
President

For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057
Email: [email protected]
Website: www.quaterra.com

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Technical information contained in this news release has been reviewed and approved by Travis Naugle, MMSA QP, the Company’s CEO and a director, and a qualified person as defined in National Instrument 43-101.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100981






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Phoenix Gold Begins Phase 2 Drilling at York Harbour Cu-Zn-Ag-Co Project in Newfoundland

 

Vancouver, British Columbia – TheNewswire – October 27, 2021 – Phoenix Gold Resources Corp. (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) (“Phoenix…

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Vancouver, British Columbia – TheNewswire – October 27, 2021 – Phoenix Gold Resources Corp. (TSXV:PXA) (OTC:PGRCF) (Frankfurt:5DE) (“Phoenix Gold” or the “Company”) is pleased to report that Phase 2 diamond drilling has begun on its York Harbour Mine Property (“York Harbour” or the “Property”) in western Newfoundland, Canada. Three drill holes have been completed during the past 10 days of a planned 27-hole diamond drilling program totalling an estimated 4,225 metres.

The on-site project geologist has reported that the latest drill hole YH21-14 intersected semi-massive and massive volcanogenic sulphide (‘VMS’) mineralization from a drilling length of 105 to 120 m.  After geological and geotechnical logging the drill core from holes YH21-13 and -14 will be transported to the Planet X Exploration facilities in Gander for sampling and later shipping to Actlabs in Ancaster, Ontario for rush ICP analyses and over-limit assaying.

Photographs of the drill core with the reported massive sulphide mineralization intersected by drill holes YH21-13 and 14 are shown as follows.


Click Image To View Full Size

 

       Massive sulphide in DDH YH21-13              Massive sulphide in DDH YH21-14

 

The Phase 1 drilling program was carried out from July 28th to August 14th.  This program, the first on the property since Wolfden Resources’ drilling in 2004, successfully validated historical drilling results with 6 of the 9 drill holes intersecting drill-indicated Cyprus-type VMS mineralization in the historical ‘A’, ‘G’ and ‘H’ zones and encountering similar mineralization both along strike and downdip of these zones.  Two diamond drill holes had to be abandoned when they encountered a wide fault zone, and a third hole intersected a section of the 400 Level adit where it lost circulation and was not completed to its intended depth.

At the present time the Company is awaiting the analytical results for 200 of 300 drill core samples from the Phase 1 diamond drilling program.  Selected mineralized intercepts from 4 of the 9 Phase 1 drill holes were reported in the Company’s news release dated October 12th.  A few of those mineralized intercepts that were previously reported for drill holes YH21-04, -06, -08 and –09 are as follows.

DDH

From

To

Interval

Copper

Zinc

Silver

Target Zone

No.

(m)

(m)

(m)

(%)

(%)

(gpt)

 

YH21-04

180.03

189.54

9.51

1.69

0.13

1.43

H Zone

YH21-06

146.26

194.05

47.79

0.85

0.57

1.49

H Zone

YH21-08

122.30

128.90

6.60

0.62

0.65

3.37

G Zone

YH21-09

5.00

14.54

9.54

1.69

0.11

2.83

A Zone

 

The Phase 2 diamond drilling program has been designed to firstly better delineate the known drill-indicated VMS mineralization for future resource estimations and to explore for additional similar mineralization both along strike and downdip.  Historical underground drill holes report a number of massive and semi-massive mineralized intercepts between and along strike of the known zones but without reported assays.  At two of these historical intercepts the latest drill holes YH21-13 and 14 have confirmed significant VMS mineralization.  Thus, the Phase 2 program will include both delineation and exploration drilling.

In addition to the Phase 2 drilling program exploration work on the property has also included re-locating the No. 4 Brook adit and massive sulphide showing situated approximately 1 km from the current drilling on the eastern limb of the folded volcanic sequence which hosts known VMS mineralization.  On October 16th several field personnel visited the site and reported approximately 15 m of massive and semi-massive sulphide mineralization, including pyrite, chalcopyrite and sphalerite, in a sheared zone near the sloughed-in adit.  This showing is currently accessible via a cut trail but will require upgrading for ATV and drill rig access.  A field crew is currently cutting channel samples across the visible mineralization with shipping and analysis to follow.  This showing is scheduled to be drill tested in early 2022.

Consulting mining engineers of Gemtec, based in St Johns, have been commissioned to apply for permitting approval to enter the 400 Level adit, and in the meantime the Company is investigating the use of a lidar drone to survey the adit this year.

The following figures show the proposed locations of the Phase 2 diamond drilling on the York Harbour property.  The red coloured and hatched bodies in Figures 2 and 3 are the two-dimensional, surface-projected images of the drill-indicated VMS mineralization.  The purple hatched body is the surface projection of the 400 Level adit.


Click Image To View Full Size

 

Figure 1: Plan View of Proposed Phase 2 Diamond Drilling Program, York Harbour Property

 


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Figure 2: Plan View of North Section of Proposed Phase 2 Diamond Drilling Program


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Figure 3: Plan View of South Section of Proposed Phase 2 Diamond Drilling Program

 

About the York Harbour Mine Property

 

The York Harbour Mine Property is located approximately 27 kilometres west of Corner Brook, NL and known to be prospective for its copper-zinc-silver-gold-cobalt massive sulphide deposits. The known mineralization exhibits characteristics consistent with classic mafic-type flow dominated (Cyprus-type) VMS deposits. Similar geological environments and styles of mineralization have formed relatively large copper-zinc deposits elsewhere in Newfoundland at Tilt Cove (9 Mt of between 1% and 12% copper) and in Cyprus at the Mavrovouni mine (15 Mt of 4% copper with zinc and gold); as noted in Messina Minerals Inc. 9th Year Assessment Report (2009).

 

Copper and zinc massive sulphides were first discovered at York Harbour in 1893. Since then a total of 2,134 metres of documented underground drifting and development have been completed for which documentation is available.  Drill core logs and sampling data is available for a total of 19,323 metres of historical drilling that tested eleven lenses or zones of copper-zinc-silver-gold-cobalt massive sulphide mineralization. These zones occur over a 600-metre strike length and many remain open for expansion both along strike and downdip.

 

Most historical exploration and underground development have been concentrated within a 350- metre long segment of a stratigraphic contact between lower and upper basaltic units, and within 150 metres of surface. An overturned synclinal fold is interpreted to extend and repeat the favourable mineralized horizon along the western portion of the property where surface prospects at the No. 4 Brook showing of copper- and zinc-bearing massive sulphides have been discovered and documented in outcrop but have received very little modern exploration attention.

 

J.D. Blanchflower, P. Geo. is a qualified person in accordance with National Instrument 43-101 who has reviewed and accepted the technical material contained in this news release.

 

For further information:

 

Andrew Lee CEO, President and Director

Telephone: 778-302-2257 | Email: [email protected]

Website: www.phoenixgoldresources.ca

 

Cautionary Statement Regarding Forward-Looking Information

 

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to satisfactory completion of due diligence and any acquisition under the Option and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

 

Copyright (c) 2021 TheNewswire – All rights reserved.

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Ameriwest Lithium Railroad Valley Geophysics Results in Staking of Additional Claims

VANCOUVER, British Columbia, Oct. 27, 2021 (GLOBE NEWSWIRE) — Ameriwest Lithium Inc. (“Ameriwest” or the “Company”) (CSE: AWLI) (OTC: AWLIF)…

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VANCOUVER, British Columbia, Oct. 27, 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 that based on positive preliminary results from a recent geophysical survey, the Company has elected to stake 150 additional placer claims on its Railroad Valley property in Nye County, Nevada.

On August 31, 2021, Ameriwest announced the initiation of a deep target geophysical study designed to determine the presence and depth of conductive and potentially lithium brine-bearing strata. The survey program was undertaken in Q3 2021 by Zonge International Inc. (http://zonge.com) and consisted of a Magnetotelluric (MT) survey. Data was collected along two lines oriented at N90˚E for a total of 12.0-line kilometers. Electric field measurements were made continuously along the lines. Magnetic field measurements were recorded approximately every 1600 meters along each profile. From these measurements a total of 60 magnetotelluric soundings were obtained. See figure 1.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/84e5fc86-3666-4cae-a20d-6f7b3fa7c2f0

As noted in Ameriwest’s news release of April 19, 2021, the Company originally staked 312 unpatented placer claims, totalling 6,240 acres at the Railroad Lithium Property located 100 miles northeast of Tonopah. Upon receipt and analysis of the geophysics data whereby sharp resistivity boundaries in the subsurface are represented as resistivity gradient zones, Ameriwest noted increased resistivity open to the eastern portion of the study. (See Figure 2). Therefore, the Company elected to acquire an additional 150 placer claims on the eastern portion of the existing claim block. The additional claims now increase the Railroad Property from 312 to 462 placer claims and increase the property size from 6,240 to 9,097 acres in total.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/72b5e669-3a29-499e-acf9-36ce6c9c22f7

Railroad Valley was originally identified by the US Geological Survey (USGS) as having potential to host lithium bearing brines in its subterranean aquifers beneath the valley floor. The Valley fits the current geological model and understanding of lithium brine deposit occurrences, (as defined by USGS Open File 2013-1006), and is considered analogous to the highly productive Clayton Valley. While Railroad Valley offers certain geological similarities to Clayton Valley, it differs in that it represents a new and virtually unexplored target, with only a handful of companies present, unlike Clayton Valley’s numerous leases and complex water issues. Based on seismic surveys, the Valley is about three times the size of Clayton Valley.

David Watkinson, Ameriwest’s President & CEO, notes, “The results from our geophysics study were extremely compelling. So much so, that we felt that procuring additional leases was of paramount importance. As noted previously, this is one of Nevada’s largest trapped drainage basins and has geologic potential to host large lithium brine deposits. Given its comparative attributes to Clayton Valley and its potentially much greater size, the initial results from our study are a very optimistic first step for Ameriwest’s lithium exploration in the southern portion of the Railroad Valley basin.”

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,

David Watkinson
President and Chief Executive Officer

For further information, please contact:
Invictus Investor Relations
Tel: +1 (604) 343-8661
[email protected]
https://ameriwestlithium.com/

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 9,097 acres, the Edwards Creek Valley totalling 16,940 acres and Arizona’s Thompson Valley totalling 2,859 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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