Pure Energy Minerals
29 July 2015
Pure Energy Minerals / Keyword(s): Miscellaneous
Pure Energy Minerals Announces Filing of NI 43-101 Inferred
Resource Technical Report for its Nevada Lithium Brine Project
28.07.2015 18:01
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Vancouver, British Columbia--(Newsfile Corp. - July 28, 2015) -
Pure Energy Minerals Limited (TSXV: PE) (FSE: A111EG) (OTCQB:
HMGLF) (the 'Company' or 'Pure Energy') is pleased to announce that
it has filed a technical report detailing an Inferred Resource
estimate of the Company's Clayton Valley Lithium Brine Project, in
accordance with National Instrument 43-101 ('NI 43-101'). The
independent technical report, titled 'Inferred Resource Estimate
For Lithium, Clayton Valley South Project, Clayton Valley,
Esmeralda County, Nevada, USA' (the 'Clayton Valley Project' and
the 'Technical Report'), dated July 17, 2015 was prepared for the
Company by Raymond P. Spanjers, P.G., of North Carolina, USA, a
'qualified person' within the meaning of NI 43-101 and independent
of the Company. The Technical Report is available under the
Company's profile on SEDAR at www.sedar.com and is available on the
Company's website at www.pureenergyminerals.com.
The Technical Report outlines an Inferred Resource estimate on
the Clayton Valley Project of 816,000 metric tonnes of Lithium
Carbonate Equivalent (LCE), present as easily-extractible brine in
two aquifers (Main Ash Aquifer and Lower Aquifer System) beneath
the Company's 8,004 acres of claims. The claims are comprised of
three contiguous blocks and overlie a deep basin structure. The
in-situ lithium brine resource was estimated as follows:
Zone Brine Average Lithium Resource
Volume Li Grade LCE (metric
(km3) mg/L tonnes)
Northern Zone
Upper Part of Main Ash
Aquifer 0.019 102 10,300
Northern Zone Main Ash
Aquifer 0.016 370 31,700
Northern Zone Lower Aquifer
System 0.158 194 163,000
Southern Zone Main Ash
Aquifer 0.451 102 245,000
Southern Zone Lower Aquifer
System 1.857 37 366,000
Total 816,000
Note: Average effective porosity of 0.34 was used in brine
volume calculations. LCE is the industry standard terminology for,
and is equivalent to, Li2CO3. 1 mg/L Li metal is equivalent to 5.32
mg/L LCE and no other components of the brine were used to derive
the LCE estimate. All other pertinent assumptions are discussed in
the Technical Report.
To advance the Clayton Valley Project towards an Inferred
Resource, the Company completed an intensive exploration programme
consisting of drilling two new boreholes to a maximum depth of 970
ft. (296 m); installing one production-style well and completing
long-term pumping tests; conducting detailed gravity surveys in the
northern part of the claims; downhole geophysics; a cutting-edge
seismic-reflection survey across the entire claim area; and
geological mapping and analysis of a wide range of brine and soil
samples. In addition, the Company was able to use data from two
previous boreholes that had been drilled on the Project. Using
these data, the Independent Qualified Professional was able to
determine the following key aspects of the resource:
- All four boreholes drilled to date have encountered lithium-brines;
- The boreholes drilled have not found the base of the lithium brine-bearing zones;
- The zones that host the brines appear to extend much deeper
into the basin and extend laterally effectively continuously
throughout the whole claim area of Pure Energy;
- Pumping tests show that the brine can be sustainably pumped at
rates equivalent to those used for production on the adjacent
Silver Peak property; and,
- The Inferred Resource of 816,000 metric tonnes of LCE was
estimated using conservative parameters (details in the technical
report www.pureenergyminerals.com).
The Resource Estimate was based on two main aquifer units, the
Main Ash Aquifer (which was fully penetrated by all four boreholes)
and the Lower Aquifer System (none of the boreholes found the base
of this lithium-brine bearing aquifer), and used average lithium
concentrations in the brine of 370-37 ppm, and total saturated
thicknesses of the combined aquifers of 366m in the northern
section and 220 m in the southern section. Full details of the
resource calculation are provided in the publically available
report. Lithium concentrations and the saturated thickness of the
brine-bearing zones were based solely on data from the boreholes,
and the lateral extent of the aquifers was based on geophysical
data. It is believed that the Resource Estimate is conservative
given that the base of the lithium brine-bearing zone has not been
found yet, and geophysics suggests that it extends significantly
deeper than the maximum depth drilled to date.
Robert Mintak, Pure Energy's Chief Executive Officer, commented,
'This initial resource estimate is an important step in validating
the Clayton Valley Lithium Brine Project and its potential. The
current estimate is based on an average thickness of 300 metres
only. The next stages of drilling will test the depth and potential
extension of the deposit and test new zones recently discovered
from our seismic reflection survey. This is an exciting time for
Pure Energy, as we successfully complete key milestones of project
development on-time and on-budget and are able to communicate to
our investors the tremendous magnitude and potential of this
strategically important resource.'
Qualified Person and Quality Control/Quality Assurance
Gerhard Jacob, P.Geo, EFG (European Geologist), is a qualified
person as defined by NI 43-101, and has supervised the preparation
of the scientific and technical information that forms the basis
for this news release. Mr. Jacob, P.Geo is not independent of the
Company as he is a director.
About Pure Energy:
Pure Energy is a lithium-brine resource developer with a focus
on becoming the lowest cost, lithium supplier for the burgeoning
lithium battery industry in North America. Pure Energy is currently
focused on the development of our prospective Clayton Valley South
Lithium Brine Project, which has the following key attributes:
- Three main claim areas, covering approximately 8000 acres in
the southern half of Clayton Valley, Esmeralda County, Nevada,
located next to the only producing lithium operation in the United
States; Albemarle's Silver Peak lithium brine mine.
- Through drilling and exploration work to date, the Company has
established an Inferred Resource (in accordance with NI 43-101) of
816,000 metric tonnes of Lithium Carbonate Equivalent (LCE).
- The Company is undertaking pre-feasibility level work to
better understand the economics and feasibility of using modern
processing techniques to convert the Clayton Valley South brines
into the high purity lithium products required for new energy
storage uses.
- Pure Energy is aligned with global technology partners focused
on innovative solutions for lithium brine processing. Through
process testing work on Clayton Valley brines with Tenova Bateman,
the Company has received lab scale results achieving >99.9 %
lithium recovery and produced a LiCl solution with a purity greater
than 99.9%. Tenova's LiSX technology works on brine with Li
concentrations as low as 14 PPM. The Company has recently shipped
brine samples to Korean Multi National POSCO's research facility to
begin process testing using POSCO's proprietary lithium extraction
technology.
On behalf of the Board of Directors
'Robert Mintak'
Chief Executive Officer
CONTACT:
Pure Energy Minerals Limited
www.pureenergyminerals.com
info@pureenergyminerals.com
Phone - 604 608 6611 ext 5
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Provider (as that term is defined in the policies of TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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Language: English
Company: Pure Energy Minerals
Canada
Phone:
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ISIN: CA74624B2057
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