Nevada Energy Metals Announce Clayton Valley BFF-1 Project Update

September 20, 2016 – Vancouver, British Columbia-Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) (Frankfurt:A2AFBV) is pleased to report that American Lithium Corp (TSX-V: LI), the Optionee of the Company’s Clayton Valley BFF-1 Project “the Project”, has advised the Company that the BLM has approved a Notice of Intent describing proposed locations for up to 6 sonic drill holes on the property. Sonic drilling is capable of reaching a depth of 500 feet and is used for determining the characteristics and orientation of subsurface playa sediments. The ultimate goal of this program is to confirm the presence of a fine grained green sand and silt logged as volcanic ash in previous drilling on the property. This horizon is thought to be correlative to the Main Ash Aquifer on the adjacent Albermare/Rockwood lithium producing property. (ref. Geology and Conceptual Modeling of the Silver Peak Geothermal Prospect, Esmeralda County, Nevada; Jeffrey B. Hulen, PG, 2008)
American Lithium Corp. holds the right to acquire up to a 70% interest in and to the Clayton Valley BFF-1 Project by making staged cash payments in the amount of USD$275,000, issuing 1,200,000 million common shares of American Lithium Corp in three tranches and incurring USD$1,000,000 in exploration expenses on or before the third anniversary date of the agreement.
Rick Wilson, Chief Executive Officer of Nevada Energy Metals, commented: “We are delighted to have American Lithium Corp. as our partner with which to advance the Clayton Valley BFF-1 property. The Project covers an area similar to the structural and geologic settings at Albemarle’s Silver Peak lithium-brine operation, the border of which, lies only two hundred meters to the south east. We look forward to an exciting exploration program in the months ahead.”
Connect with Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) (Frankfurt:A2AFBV) to receive an Investor Presentation.