Pure Energy Acquires Additional Contiguous Lithium Claims to Further Expand Landholding in Clayton Valley, Nevada
May 6, 2015 (Source: Marketwired) — Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTC: HMGLF) (the “Company” or “Pure Energy”) is pleased to report that, via its wholly owned US subsidiary, Esmeralda Minerals LLC, it has secured an additional 963 acres (390 hectares) of lithium placer mining claims (the “CL” claims) in Clayton Valley, Nevada. Pure Energy’s total project size is now approximately 8,037 acres (3,253 hectares).
The CL claim block consists of 48 placer mining claims, (each approximately 20 acres in size) that are contiguous to, and to the south of, Pure Energy’s existing Clayton Valley Lithium Brine prospects. As previously reported, (http://www.pureenergyminerals.com/pure-increases-land-holdings-in-clayton-valley-nevada/) Pure Energy executed a binding LOI with Nevada Alaska Minerals to acquire 2,542 acres of lithium placer claims, and as a result, the Company’s total project area now consists of 8,037 acres of placer mining claims.
Mr. Robert Mintak, Pure Energy CEO, commented;
“We are very pleased with our land acquisition strategy that has nearly doubled our project footprint and significantly increases the potential and scope of our Clayton Valley, Nevada project. Our recently completed exploration drilling program and highly successful lithium brine processing test program has highlighted the opportunity of our project as a potential strategic supply answer for the anticipated significant demand in lithium materials critical for electric energy storage.”
The Company’s entire claim package overlies the north-south trending basin that is present beneath the southern half of Clayton Valley. Recent drilling work completed by Pure Energy Minerals in the northern part of the basin has identified lithium-bearing brines within sediments that infill the basin. The recent seismic reflection survey of the area conducted by Pure Energy (news release http://www.pureenergyminerals.com/pure-energy-commences-seismic-survey-of-clayton-valley-lithium-brine-prospects/) included the new CL area and allows for the potential expansion of the resource assessment of the entire claim area, to be completed as part of a forthcoming Inferred Resource Assessment Report (NI 43-101 compliant).
As the new claims have been recorded and secured by a wholly owned subsidiary of Pure Energy, there are no royalties, lease payments, work commitments or other encumbrances that apply to the claims, other than normal annual recording and payment obligations.
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About Pure Energy:
Pure Energy is an integrated lithium mining and processing developer with a focus on green ‘cradle to cradle’ lifecycle solutions for lithium supply in North America. Pure Energy is currently focused on the advancement of our prospective Clayton Valley Lithium Brine Project, located contiguous and to the southeast of the only producing lithium mine in the United States, Rockwood Lithium’s Silver Peak lithium brine mine.
On behalf of the Board of Directors
Chief Executive Officer
Gerhard Jacob, a director of Pure Energy, and competent and qualified person under NI 43-101, has reviewed and approved the scientific and technical information in this press release.
Neither 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>