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Lithium X Energy (TSXV:LIX) commenced trading on the TSXV on Monday. The company also announced the appointment of GeoXplor as exploration manager for its upcoming work program at its Clayton Valley North lithium claims.
Lithium X Energy (TSXV:LIX) commenced trading on the TSXV on Monday. The company also announced the appointment of GeoXplor as exploration manager for its upcoming work program at its Clayton Valley North lithium claims.
As quoted in the press release:
The Lithium X claims are contiguous to private lands and placer claims belonging to Albemarle Corp. (NYSE: ALB), which operatesNorth America’s only lithium production facility, in operation since 1967. Historic drill information and a geophysical survey show the Lithium X properties cover basin-fill sediments similar to those currently producing lithium brines for Albemarle.
GeoXplor is managed by prospectors Clive Ashworth and John Rud, who have been active in the Clayton Valley for the past 8 years. GeoXplor operates Pure Energy Minerals’ Clayton Valley South project, where they were instrumental in helping discover and identify an Inferred Resource of 816,000 tonnes of Lithium Carbonate equivalent (July 2015 NI 43-101).
Mr. Rud and Mr. Ashworth also control Clayton Valley Lithium Inc., which optioned the initial Clayton Valley North lithium claims group to Lithium X.
The company also announced the appointment of Tim Oliver as the company’s vice president of project development:
Mr. Oliver’s experience spans all stages of mine development, from exploration to closure. He holds a BS in Environmental Engineering from the New Mexico Institute of Mining and Technology (1976) and is a registered professional engineer in four U.S. states and inAlberta, Canada. Mr. Oliver spent over 15 years with producing companies including Magma Copper Company, Exxon Minerals andPhelps Dodge. Before joining the Lithium X team, Mr. Oliver practiced engineering both independently and with firms such as M3 Engineering and Technology and Tetra Tech. Mr. Oliver is an NI 43-101 Qualified Person (QP) and has lead or contributed to dozens of NI 43-101 studies for mine projects in North and South America.
Lithium X CEO, Brian Paes-Braga, said:
This is just the beginning for Lithium X. In a few short months we have secured a key land position adjacent toNorth America’s only lithium producer, built a tremendous team, financed the Company with exceptional shareholders and listed on the TSXV. We are very excited about what we can accomplish in 2016.