Pure Energy Announces Completion of Next Well on the Clayton Valley South Project
VANCOUVER, British Columbia, Jan. 25, 2016 (GLOBE NEWSWIRE) -- Pure Energy Minerals Limited (TSX-V:PE) (FRANKFURT:A111EG) (OTCQB:HMGLF) (the “Company” or “Pure Energy”) is pleased to provide the following update on its winter drill program at the Company’s Clayton Valley South (CVS) Lithium Brine Project located in Esmeralda County, Nevada.
The Company has successfully drilled well CV-6 from surface to the targeted depth (TD) of 1,500 feet (456 m) below ground level (“bgl”). CV-6 is located approximately 6 km southwest of CV-2, very close to the geographic centre of Pure Energy’s large claim block. Drilling commenced at the location in late November 2015 using rotary-mud techniques for the installation of temporary surface casing to a depth of 500 ft (152 m) bgl. The surface casing isolates upper gravel layers, which are widespread in the upper reaches of the basin as evidenced by previous drilling and the Company’s seismic reflection survey. The rotary core drill rig commenced on 7th December 2015 to advance the well from 500’ to the targeted depth of 1,500’ bgl. Harris Exploration Drilling shut down on-site activities for the holiday period from December 18th until Jan 3rd, 2016.
Pure Energy elected to use rotary coring techniques on CV-6 in order to gain a more thorough understanding of the geology and hydrogeology of the basin underlying its claim area. Careful drilling of the well resulted in excellent core recovery and a nearly complete geological record through the targeted aquifers. The drillers completed the well by installing a 2” (50 mm) PVC casing with screened sections open to the zones of interest. The finished well has been developed using air-lifting and other techniques, and is now ready for Pure Energy to conduct downhole geophysical logging, followed by water sampling for chemical analyses.
Pure Energy sent sections of drill core to accredited laboratories for geochemical analyses (to better understand lithium content of the solids infilling the basin) and porosity testing (to better understand the fluid content of the sediments). A geologist was on-site for all drilling activity, core logging and sampling, and will be present during upcoming fluid sampling.
After completing CV-6, the rig has moved to well CV-4 (located 2.9 km southwest of CV-2), and is currently drilling a hole to 400 feet (122 m) in order to install temporary surface casing. The Company will employ reverse circulation and/or other rotary techniques to complete CV-4 and collect samples down to a similar TD as that reached in CV-6.
This phase of the exploration program steps out southwards from Pure Energy’s previous drilling in the northern part of the CVS Project in order to increase drill density and confirm lithium grades in the Company’s maiden resource (See Company News Release dated July 28, 2015). This program will provide geological, hydrogeological and geochemical information for the planning and permitting of future exploration. These data will support a Preliminary Economic Assessment expected during the second quarter of 2016, as previously announced.
Pure Energy Minerals CEO, Robert Mintak commented, “We are pleased to report that our drilling program is running smoothly, and according to plan. We took the bold step to use rotary coring at the CVS Project, and we have been rewarded by excellent core recovery and an unprecedented view into the sediments that host our lithium-brine resource. We expect to extract more value as we correlate the geology from drill core with the detailed seismic data. Our team is working hard to achieve aggressive project development goals, including the start-up of a mini-pilot plant in March. We shall deliver project updates as all of this important work advances."
Qualified Person and Quality Control/Quality Assurance:
Gerhard Jacob, P.Geo, EFG (European Geologist), is a qualified person as defined by NI 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Jacob, P.Geo is not independent of the Company as he is a director.
About Pure Energy: Pure Energy is a lithium-brine resource developer that is driven to become the lowest-cost lithium supplier for the burgeoning North American lithium battery industry. Pure Energy is currently focused on the development of our prospective Clayton Valley South (“CVS”) Lithium Brine Project, which has the following key attributes:
A large land position with excellent existing infrastructure in a first-class mining jurisdiction: Approximately 9,324 acres in three main claim groups in the southern half of Clayton Valley, Esmeralda County, Nevada
Adjacent to the only producing lithium operation in the United States (Albemarle’s Silver Peak lithium brine mine) (ALB)
An inferred mineral resource of 816,000 metric tonnes of Lithium Carbonate Equivalent (LCE), reported in accordance with NI 43-101
Metallurgical and process studies underway to better understand the feasibility and economics of using modern environmentally-responsible processing technology to convert the CVS brines into high purity lithium products for new energy storage uses
On behalf of the Board of Directors “Robert Mintak” Chief Executive Officer
CONTACT: Pure Energy Minerals Limited www.pureenergyminerals.com firstname.lastname@example.org Phone – 604 608 6611 ext 5 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
(January 25, 2016 - 9:02 AM EST)
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