VANCOUVER, BC, March 1, 2021 /CNW/ -- Nickel Rock Resources
Inc. ("the Company") (TSXV: NICL) (OTCQB:
NIKLF) is pleased to announce that a drill contract,
contemplating approximately 3,000 feet of reverse circulation (RC)
drilling, has been signed with Alford
Drilling, LLC. of Spring Creek,
Nevada. The project calls for a drilling program that will
result in up to six exploration holes at the Company's recently
expanded claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada.
The Nickel Rock land package directly adjoins a western portion
of neighbouring lithium producer Albemarle's lithium
evaporation ponds and covers approximately 2,300 acres (930 Ha) of
potential lithium bearing clay and brine deposits within lake
sediments and ash beds reported in rough drillers logs of historic
water quality monitoring wells on file with the Nevada State
Engineers office (permit #66034A). Albemarle recently
announced on January 7, 2021 that it
will commence exploration for clay and evaluate technology that
could accelerate the viability of lithium production from clay
resources in the region. It has been widely reported that
Albemarle is planning to double its lithium production by 2025 in
Nevada at the Silver Peak mine by
committing between US$30 million and
US$50 million in additional
investment on the property.
The Nickel Rock land package is also nearby the 5,430 acres of
lithium clay properties owned by Cypress Development Corp. referred
to as the "Cypress Clayton Valley Lithium Clay Project" which is
immediately east of the Albemarle Silver Peak
Mine. Exploration and development by Cypress has discovered
a large world-class resource of lithium-bearing claystone
adjacent to the brine field to the east and south of its
property. At this property, lithium mineralization occurs
within montmorillonite clays throughout the sediments to a depth of
at least 150 meters and metallurgical testing indicates low cost
processing can be achieved by leaching with low acid consumption
(125 kg/t) and high lithium recovery over 85% Li. These high
extractions prove the dominant lithium-bearing minerals present are
not hectorite, a refractory clay mineral which requires roasting
and/or high acid consumption to liberate the lithium. On
February 9, 2021, Cypress Development
Corp. announced an upsized bought deal offering of CAD$17,000,000 which shows the significant
interest in this property and the lithium clay deposit.
Mr. Robert Setter, Company
President and CEO comments, "The clay layers encountered in
the wells at Nickel Rock's Clayton Valley Lithium Project are
beneath gravel and alluvial cover and do not form obvious outcrops.
Additionally, the Company claims cover likely concealed faults
shown in geophysical studies conducted by Sierra Geothermal Power
Corporation in the 2008- 2010, which the Company believes to be
important in the formation of lithium-bearing clays. We are
excited about capturing this renewed investor interest for the
potential of lithium bearing clays in the region."
Nickel Rock claims cover various geothermal features like tufa
(hot spring limestone carbonate formations) and sinters
(sedimentary rock formations primarily composed of silica
precipitated from hot waters) representing locations of upwelling
hydrothermal fluids that may play a role in the formation of
lithium rich clay deposits. Clayton
Valley has several known occurrences of lithium bearing
clays and tuffs as documented by academic publications and recent
drill results released by Cypress Minerals and others.
About Clayton Valley Lithium Project
Clayton Valley is a down-dropped
closed basin formed by the Miocene age Great Basin extension and is
still active due to movement along the Walker Lane structural
zone. As a result, the basin has preserved multiple layers of
lithium bearing volcanic ash, resulting from eruptions from the
700,000-year-old Long Valley Caldera
system and related events. These ash layers are thought to be
the source of the lithium brines extracted by Albemarle and are
also likely involved in the formation of the exposed lithium rich
clay deposits on the east side of Clayton Valley.
https://nickelrockresources.com/clayton-valley-lithium/
Qualified person
Alan Morris is a qualified person
as defined by National Instrument 43-101 and has approved the
technical information contained within this news release.
About Nickel Rock Resources Inc.
www.nickelrockresources.com
Nickel Rock Resources is a Canadian-based mineral exploration
company with a highly focused effort on exploration for high-value
battery metals required for the electric vehicle (EV) market. The
company recently announced several acquisitions resulting in a
significant property package prospective for awaruite, a naturally
occurring nickel-iron alloy important in the manufacture of
environmentally efficient batteries for the electric vehicle
markets globally.
Nickel Projects
The Mount Sidney Williams Group consists of five claim blocks in
four groups with a total area of 6,125.32 hectares in the area
surrounding Mount Sidney Williams, both adjoining and near the
Decar project of FPX Nickel Corp., located 100 kilometres northwest
of Fort St. James, B.C., in the
Omineca mining division. Metallic mineralization includes nickel,
cobalt, and chromium. At least some of the nickel mineralization
occurs as awaruite.
The Mitchell Range Group area claim consist of two contiguous
claim blocks covering 3,134.70 hectares with demonstrated metallic
mineralization including nickel, cobalt, and chromium.
Nickel-cobalt mineralization has not been well explored, but the
presence of awaruite has been documented. The company is planning
detailed exploration for the upcoming exploration season.
On Behalf of the Board of Directors
"Robert
Setter"
Robert Setter,
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. This news release may contain
forward-looking statements which include, but are not limited to,
comments that involve future events and conditions, which are
subject to various risks and uncertainties. Except for statements
of historical facts, comments that address resource potential,
upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and
others are forward-looking. Forward-looking statements are not
guaranteeing future performance and actual results may vary
materially from those statements. General business conditions are
factors that could cause actual results to vary materially from
forward-looking statements.
Nickel Rock Resources Inc.
1220 – 789 West Pender
Street
Vancouver, BC, Canada V6C 1H2
604-428-5690
www.nickelrockresources.com
info@nickelrockresources.com
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SOURCE Nickel Rock Resources Inc.
