Nevada Energy Metals Acquires Black Rock Lithium Project
May 13, 2016 (Source) — Nevada Energy Metals Inc. “the Company” (TSX-V: BFF; OTC: SSMLF) (Frankfurt: A2AFBV) is pleased to announce that it has increased its lithium brine exploration assets through the 100% acquisition of 128 placer claims (2,560 acres/ 1,036 hectares) located in southwest Black Rock Desert, Washoe County, Nevada. The major population center is the town of Gerlach, which lies 177 kilometers north of Reno.
The western arm of the Black Rock Desert covers an area of about 2,000 square kilometers and contains 5 of the 30 currently listed Known Geothermal Resource Areas in Nevada. The property covers an area of playa underlain by a moderately deep basin interpreted from gravity and seismic surveys indicating a maximum thickness of valley-fill deposits of about 1,200 m/ 3,600 ft. A high salt content prevents any significant vegetation from growing on the playa surface. Locally, the basin is being fed in part by boiling springs and siliceous sinter containing strongly anomalous Lithium values (up to 3.5 ppm) that flank the property on the west side. (U.S. GEOLOGICAL SURVEY Open-File Report 81-918.) While these lithium values are well below those of producing lithium bines, they do represent a significant source of metal available for evaporative concentration within the playa basin.
The company plans to carry out an exploration program this summer to determine the potential for a lithium brine deposit. The exploration program will consist of shallow sampling followed by a high resolution geophysical program to define potential drill targets.
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 100% ownership in 78 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America. Nevada Energy Metals has also acquired, 100 claims (Teels Marsh West) covering 2000 acres (809 hectares) at Teels Marsh, Mineral County, Nevada, a highly prospective lithium exploration project, 100% owned without any royalties, located on the western part of a large evaporation lake where a phase one, 27 hole shallow auger exploration program is in progress. Recently the Company announced the addition of the San Emidio Desert lithium project, consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada. The Company’s first lithium project, Alkali Lake, in Esmeralda county, is a 60% earn in option agreement from Dajin Resources Corp, where near surface lithium has been confirmed. The Company’s most recent acquisition is 128 placer claims (2,560 acres/ 1,036 hectares) located in southwest Black Rock Desert, Washoe 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 adequacy or accuracy of this release.
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