VANCOUVER, BC--(Marketwired - Nov 16, 2015) - Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTCQB: HMGLF) (the "Company" or "Pure Energy") is pleased to provide the following project update. The Company's operator, GeoXplor Corp, has mobilised drilling equipment to site and has begun the second phase of resource assessment drilling work at the Company's Clayton Valley South ("CVS") Lithium Brine Project, located near Silver Peak, Nevada (the "Project").
The purpose of this exploration phase is to increase the understanding of lithium grades in brines located beneath the largest southern resource zone of the recently expanded property. Harris Exploration Drilling and Associates Inc. will perform well drilling and installation. Harris has successfully drilled and developed productive lithium brine wells in earlier stages of drilling at CVS. This phase of work will consist of initial mud-rotary drilling and installation of temporary surface casing to isolate the underlying lithium brine targets from near-surface alluvial deposits and shallow groundwater. Following this, the drillers will use a combination of drilling techniques (including dual-wall reverse circulation and rotary coring) to test the potential brine-bearing formations and retrieve solid and liquid samples for laboratory analysis. The team will send drill core, cuttings, and brine samples to accredited laboratories for analysis.
The Notice of Intent work permit recently issued by the Bureau of Land Management allows for the drilling of three resource assessment wells at specified locations, and it is expected that the wells will be drilled to depths of up to 500 m, though geologists at the drill rig will determine depth of termination for each well. The technical team selected these drill sites based on potential brine-hosting targets developed from the previously conducted seismic reflection survey. These wells will be located approximately 2.8 km, 3.5 km and 6 km southwest of CV-2, in the centre-north of the property.
During the drill campaign, the work will be inspected by the Company's technical advisors and independent qualified professionals, who will provide third party oversight and take additional quality assurance samples. Following completion of the drill program, an independent qualified professional may utilise the new data to produce an updated inferred resource report.
Pure Energy Minerals CEO, Robert Mintak, commented, "We are pleased to begin this next phase of drilling at CVS. Conservative assumptions were applied in modelling the southern zone of the brine resource; and these new wells will improve our understanding of the reservoirs and the brine grade in this zone. Once this fully-funded phase of work is complete, we expect to have substantially de-risked the southern zone resource. Our team is working hard to achieve aggressive project development goals, and we look forward to delivering project updates as this important phase of work is completed."
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 (Albermarle's Silver Peak lithium brine mine)
- 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
Chief Executive Officer
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.
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(November 16, 2015 - 9:01 AM EST)
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