The Conversation (0)
Pure Energy Minerals (TSXV:PE,FWB:A111EG,OTC:HMGLF), through its US subsidiary, Esmeralda Minerals LLC, secured an additional 48 placer mining claims in Clayton Valley, Nevada. This brings the total project area to 8,037 acres of placer mining claims.
As quoted in the press release:
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, (https://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.
… 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 https://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.
Pure Energy CEO, Robert Mintak, said:
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.
Click here to read the Pure Energy Minerals (TSXV:PE,FWB:A111EG,OTC:HMGLF) press release
Click here to see the Pure Energy Minerals (TSXV:PE,FWB:A111EG,OTC:HMGLF) profile.