Lithium Sets Itself Apart In Mining Sector As Lithium Production
Surges on Rapidly Increasing Demand; Company Expands Operations at
Recently Acquired Nevada Project
Coral Springs, FL -- April 21, 2016 -- InvestorsHub
NewsWire -- As lithium sector enjoys increased demand for
lithium to fuel such industries as electric car and the power
storage revolution, the window of opportunity for mining companies
leads to new mining projects, mergers and acquisitions as well as
expansion of current operations. Mining companies in the
markets today with current developments of note are Nevada Energy
Metals Inc. (OTC: SSMLF) (TSX-V:BFF), Albemarle Corporation (NYSE:
ALB), FMC Corporation (NYSE: FMC), Pure Energy Minerals Limited
(OTCQB: HMGLF) (TSX-V: PE) and Galaxy Resources Limited (OTC:
GALXF)
Nevada Energy Metals Inc. "the Company" (TSX-V:BFF) (OTC: SSMLF)
is pleased to announce that the Company has expanded its Clayton
Valley holdings by acquiring an additional 27 claims to its lithium
brine exploration project at Silver Peak, Esmeralda County, Nevada.
The BFF-1 project now comprises 87 claims with an area encompassing
1,740 acres /704 hectares and directly abutting the region of brine
production of Rockwood Lithium, a subsidiary of Albermare Resources
(NYSE: ALB) in the northern portion of Clayton Valley. The claims
cover an area of playa, including the Goat Island graben (inferred
from gravity inversion; Quantec, 2008; Petrick, 2008), that
encompasses a portion of a deep-circulation geothermal system
beneath basin-fill sediments locally blanketed with travertine in
north-western Clayton Valley. The Goat Island graben segments
Clayton Valley into a northerly-trending, 1-2 km-wide sub-basin
with a distinct escarpment on each side. Geological modeling and
assessment of historical drilling results by J.B. Hulen, PG, (July
31, 2008 report) concluded that both shallow thermal-gradient and
lithium-exploration drilling demonstrates that the northern portion
of Clayton Valley contains the valley's highest subsurface
temperatures and that these temperatures may be localized in the
Goat Island graben and its structural projections to the northeast
and south.
Read the full Nevada Energy Metals (SSMLF, BFF.V) Press Release
at http://www.financialnewsmedia.com/profiles/ssmlf.html
Significantly, within the graben and within the boundary of the
claim block, a drill hole by Western Geothermal Partners 2007
logged as WGP#2 reported as follows:' From 280 - to 305 ft., fine
grained green sand and silt logged as volcanic ash was encountered.
This unit may be correlative to the Main Ash Aquifer, which is a
marker bed in other areas of the Clayton Valley Basin." J.B. Hulen,
PG, (July 31, 2008.) Nevada Energy Metals is planning a
detailed summer/fall exploration program on the BFF-1 project. The
property was acquired for cost of staking with no overriding
royalties.
In other sector developments in the Lithium space: Nevada
Sunrise Gold Corporation announced an update on its current
drilling program at the Neptune Lithium Project ("Neptune", or the
"Project") located in the southern Clayton Valley of Nevada, USA .
Neptune consists of 316 unpatented 20-acre placer claims
totaling approximately 6,320 acres (2,557 hectares) and is located
in an active area of lithium exploration and mining. The Silver
Peak lithium mine operation, acquired by Albemarle Corporation
(NYSE: ALB) in 2015, has extracted lithium minerals from brines
continuously since 1966 and is located approximately 10 miles (15
kilometres) to the north of Neptune.
FMC Corporation (NYSE: FMC) recently announced that Paul Graves,
Executive Vice President and Chief Financial Officer, will speak at
the Wells Fargo Securities Industrial and Construction Conference
in New York City, on Wednesday, May 11, 2016 at 1:55 p.m. ET.
A live webcast will be available on the FMC Investor Relations
website. For more than a century, FMC Corporation has served
the global agricultural, industrial and consumer markets with
innovative solutions, applications and quality products. FMC
acquired Cheminova in April 2015. Revenue totaled
approximately $3.3 billion in 2015. FMC employs approximately
6,000 people throughout the world and operates its businesses in
three segments: FMC Agricultural Solutions, FMC Health and
Nutrition and FMC Lithium.
Pure Energy Minerals Limited (OTCQB: HMGLF) (TSX.V: PE)
announced recently that a core drill is once again turning at its
Clayton Valley South ("CVS") Lithium Brine Project, located near
Silver Peak, Nevada (the "Project"). Based on their successful
track record during the phase 2 drill program at CVS, Harris
Exploration Drilling and Associates Inc. remains the primary drill
contractor on the Project. The drillers collared the new well
(CV-3) approximately 200 metres (660 ft) southeast of CV-1. Drilled
in the first phase of Pure Energy drilling at Clayton Valley, CV-1
was completed to only 275 metres (900 ft). The Company expects to
drill CV-3 to a depth of up to 500 metres (1,640 ft) before
completing its construction with appropriate gravel pack,
bentonite, and screening.
Dajin Resources Corp. (OTC: DJIFF) & Galaxy Resources
Limited (OTC: GALXF) are two other mining companies with recent
developments in the Lithium sector to keep an eye on. GALXF
traded over 960,000 shares on Wednesday closing up over
9% at $0.39. DJIFF realized a heavy trading day on
Wednesday as well closing up over 13% on over 3.08Million
shares traded by the market close.
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