Nevada Energy Metals Acquires a Sixth Lithium Project in Nevada
May 19, 2016 (Source) — Nevada Energy Metals Inc. “the Company” (TSX-V: BFF; OTCQB: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that it has acquired 160 placer claims, with an area of 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Township 13N., Range 43E, Nye County, Nevada.
Rick Wilson, Chief Executive Officer of Nevada Energy Metals, commented: “We are thrilled about adding a sixth lithium exploration project to our growing portfolio of properties. The desert basins of Nevada are virtually unexplored by deep drilling for lithium brine deposits that are similar to Clayton Valley. I am looking forward to an exciting exploration season this year and next.”
The claims were located with the benefit of historical brine sampling results for lithium in the basin. Values were reported in the range of 130 to 155 ppm lithium for 4 samples (J.R. Davis, U.S. Geological Survey, Denver, Co.). The northern basin is fed by geothermal brines that are meteoric waters heated by relatively deep circulation in the earth’s crust. The dominant structural controls bounding the playa are high angle, large displacement “normal” faults which provide conduits for fluid migration and dictate resource localization.
Gravity survey results indicate an asymmetrical nature of the subsurface in the central and southern portions of the basin and that there is subsurface closure of the valley as it approaches Round Mountain to the south. Gravity data also indicates the presence of subsurface structural features associated with three of the known high temperature geothermal systems in the area. The depth of valley fill is calculated to be approximately 5,100 feet.
About the BSV Property:
Big Smokey Valley is situated in central Nevada. It begins at a point 12 miles east of the town of Austin and extends approximately 100 miles in a southwesterly direction to reach a southern terminus near Clayton Valley to the west of Tonopah. Hydrologically and topographically the valley is divided into northern and southern sections by a physiographic high near the mining community of Round Mountain. The northern section, where the claims area is located contains three geothermal resources; the Darrough, the McLeod and the Spencer hot springs.
Geologically the region is complex with a lithologic history extending from the pre-Cambrian to the Holocene. Rocks comprising the Toiyabe Range which forms the valley’s western boundary within the study area include Pre-Cambrian and Paleozoic siliceous, argillaceous and calcareous sediments and metasediments, Paleozoic lavas, Mesozoic intermediate to acidic intrusives, Tertiary lavas, tuffs and sediments. Geothermal evaluation studies carried out in the 1980’s included geological reconnaissance, gravity surveys, aerial photography, fluid sampling and analysis, temperature probe surveys, shallow electrical resistivity measurements and temperature gradient drilling. Quaternary to recent alluvial, fluvial, lacustrine and playa deposits form the valley floor. (Assessment of the Geothermal Resources of Carson Eagle Valleys and Big Smokey Valley, Nevada 1980).
Nevada Energy Metals has acquired a 100% interest in the property, free of royalty payments, and has agreed to pay all location and recording costs in addition to granting a 200,000 share finders fee.
Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG, Elko, Nevada.
About Nevada Energy Metals: http://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has recently completed (1) a 70/30 farm-out option JV on 77 claims in Clayton Valley, approximately 250m from the Rockwood Lithium mine, the only brine based lithium producer in North America; (2) acquisition of 100% of the Teels Marsh West project (100 claims covering 2000 acres/809 hectares) in Mineral County, Nevada; (3) acquisition of 100% ownership of the Black Rock property (128 claims covering 2,560 acres/1,036 hectares) located in southwest Black Rock Desert, Washoe County, Nevada; (4) acquisition of 100% ownership in the San Emidio Project (155 claims, 3,100 acres/1,255 hectares) near Empire, Washoe County, Nevada; (5) the acquisition of the Alkali lake Project, 60% Option from Dajin Resources Corp. (191 claims covering 3,820 acres/1,558 hectares) in the Esmeralda County, Nevada.
On Behalf of the Board of Directors
Rick Wilson, President & CEO
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 contents of this news release.
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