New Tech Lithium Corp (CSE:NTM) has signed a letter of intent (LOI) to acquire four federal prospecting permit applications covering 9,406 acres located adjacent to, and immediately south of, the Fredericktown lead-copper-nickel-cobalt subdistrict of the historic Old Lead Belt in Missouri.
New Tech Lithium Corp (CSE:NTM) has signed a letter of intent (LOI) to acquire four federal prospecting permit applications covering 9,406 acres located adjacent to, and immediately south of, the Fredericktown lead-copper-nickel-cobalt subdistrict of the historic Old Lead Belt in Missouri. The Fredericktown subdistrict covers approximately 80 square miles in the southeastern Old Lead Belt and consists of more than 30 historic mines, several of which were subsequently consolidated into larger mine complexes. Lands applied for encompass two Pb-Cu-Ni-Co past producers, one Cu-Co past producer and several cobalt prospecting sites.
Co-Cu-Ni mineralization is associated with Pb-Zn deposits throughout the southeast Missouri (SEMO) lead belt, but is especially concentrated in the Fredricktown subdistrict mineralization. The largest mine complex, Mine LaMotte, is reported to have produced 15 million tonnes of ore at average grades of 2.7 per cent Pb, 0.69 per cent Cu, 0.29 per cent Ni and 0.23 per cent Co, or 34,500 tonnes cobalt (75.9 million pounds cobalt). Significant production also occurred at the similar-sized Madison mine complex from which grade and tonnage are unknown, although an existing (unmined) resource at the Madison mine, determined from drilling in the 1980s and 1990s, was reported to contain 6.6 million tonnes at 0.31 per cent Co, 0.47 per cent Ni and 0.74 per cent Cu, or 20,460 tonnes cobalt (45.1 million pounds cobalt). A mine plan was developed in 2001 for 2.2 million tonnes grading 0.54 per cent Co, 0.82 per cent Ni and 0.92 per cent Cu, or 11,880 tonnes cobalt (26.14 million pounds cobalt). It was recently reported (April 14, 2018) that the Madison mine has been sold to Missouri Cobalt LLC, who has stated plans to initiate mining in 2020. The Higdon mine, located in the eastern part of the Fredricktown subdistrict, is also reported to have an undeveloped primary lead resource of 14 million tonnes with an average grade of 0.14 per cent Co and 0.17 per cent Ni, or 19,600 tonnes cobalt (43,120,000 pounds cobalt).
New Tech Lithium’s property applications all lie within a maximum distance of two miles from the current historic Fredericktown mining district boundary, and encompass lithostratigraphic and structural attributes deemed favourable for the discovery of new deposits. The area’s cobalt prospectivity is further evidenced by a unique regional cluster of 15 small, historic Pb-Zn-Cu-Ni-Co and/or Cu-Co past producers, three of which are encompassed by lands under NTM application. On a large portion of the lands applied for, the discovery probability is considered to have a high potential for a Mine LaMotte equivalent deposit. The area is also thought to be underexplored due to extensive cover and historic focus on the very large Pb deposits discovered previously in the North Missouri geologic survey. Targets are analogous to the historic Fredericktown deposits and are projected to occur at depths from less than 150 feet to 600 feet. BLS.
Pb-Zn and Co-Cu-Ni deposits are hosted in the lower Cambrian Bonterre formation carbonate rocks and occasionally in the underlying LaMotte formation sandstones. Cambrian and younger carbonate and clastic sedimentary rocks uncomformably overlie a large Precambrian magmatic complex. The SEMO lead belt is the type of location for Mississippi Valley-type, (MVT) carbonate-hosted Pb-Zn deposits which occur in the United States. and worldwide. The SEMO lead belt deposits are unique with respect to associated Co-Cu-Ni mineralization and low Zn concentrations when compared with other MVT districts. In general, lead belt deposits are stratiform, more than 10 metres thick and laterally extensive, potentially enabling bulk underground mining via room and pillar mining methods.
NTM has received a request from the US Bureau of Land Management to submit an exploration plan acknowledging the receipt and preliminary adjudication of Prospecting Permit Applications. The exploration plan is under development and will generally apply current SEMO Co-Ni-Cu deposit models utilizing data from modern geophysical methodology and stream sediment geochemistry to facilitate targeting test drill holes. Approval of the exploration plan and the issuance of a Prospecting Permit is anticipated by 2018 Q4. NTM will continue to research the Cobalt-prospective Fredricktown subdistrict and refine potential exploration models in the area.
In addition to the acquisition of a second cobalt project in the Old Lead Belt of SEMO (the Buena Vista Cobalt Project in Nevada being the first) and escalation of the cobalt exploration programs in general, NTM continue to be actively involved in exploration for lithium, bromine and potassium at their Green River project in the Paradox Basin of SE Utah and SW Colorado.
The scientific and technical data contained in this news release was prepared and reviewed by Kent Ausburn, P.Geo., a non-independent qualified person to the Company. Mr. Ausburn is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a qualified person pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About New Tech Lithium Corp.
New Tech Minerals is a CSE-listed public company located in Vancouver, B.C. New Tech Minerals are focused on exploring for and developing the modern battery-elements Lithium and Cobalt in the USA. We currently control a large Lithium + Bromine + Potassium brine project (~13,840 acres of Federal lithium claims and Utah and Colorado State Leases) in the Paradox Basin of Utah and Colorado. New Tech Minerals also control ~27,000 acres of Potash Permit Applications in the Paradox Basin of Utah.
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