CORAL SPRINGS, Florida, April 21, 2016 /PRNewswire/ --
As lithium sector enjoys increased demand for lithium to fuel such industries as electric car and the power storage revolution, the window of opportunity for mining companies leads to new mining projects, mergers and acquisitions as well as expansion of current operations. Mining companies in the markets today with current developments of note are Nevada Energy Metals Inc. (OTC: SSMLF) (TSX-V:BFF), Albemarle Corporation (NYSE: ALB), FMC Corporation (NYSE: FMC), Pure Energy Minerals Limited (OTCQB: HMGLF) (TSX-V: PE) and Galaxy Resources Limited (OTC: GALXF)
Nevada Energy Metals Inc. "the Company" (TSX-V:BFF) (OTC: SSMLF) is pleased to announce that the Company has expanded its Clayton Valley holdings by acquiring an additional 27 claims to its lithium brine exploration project at Silver Peak, Esmeralda County, Nevada. The BFF-1 project now comprises 87 claims with an area encompassing 1,740 acres /704 hectares and directly abutting the region of brine production of Rockwood Lithium, a subsidiary of Albermare Resources (NYSE: ALB) in the northern portion of Clayton Valley. The claims cover an area of playa, including the Goat Island graben (inferred from gravity inversion; Quantec, 2008; Petrick, 2008), that encompasses a portion of a deep-circulation geothermal system beneath basin-fill sediments locally blanketed with travertine in north-western Clayton Valley. The Goat Island graben segments Clayton Valley into a northerly-trending, 1-2 km-wide sub-basin with a distinct escarpment on each side. Geological modeling and assessment of historical drilling results by J.B. Hulen, PG, (July 31, 2008 report) concluded that both shallow thermal-gradient and lithium-exploration drilling demonstrates that the northern portion of Clayton Valley contains the valley's highest subsurface temperatures and that these temperatures may be localized in the Goat Island graben and its structural projections to the northeast and south.
Read the full Nevada Energy Metals (SSMLF, BFF.V) Press Release at http://www.financialnewsmedia.com/profiles/ssmlf.html
Significantly, within the graben and within the boundary of the claim block, a drill hole by Western Geothermal Partners 2007 logged as WGP#2 reported as follows:' From 280 - to 305 ft., fine grained green sand and silt logged as volcanic ash was encountered. This unit may be correlative to the Main Ash Aquifer, which is a marker bed in other areas of the Clayton Valley Basin." J.B. Hulen, PG, (July 31, 2008.) Nevada Energy Metals is planning a detailed summer/fall exploration program on the BFF-1 project. The property was acquired for cost of staking with no overriding royalties.
In other sector developments in the Lithium space: Nevada Sunrise Gold Corporation announced an update on its current drilling program at the Neptune Lithium Project ("Neptune", or the "Project") located in the southern Clayton Valley of Nevada, USA . Neptune consists of 316 unpatented 20-acre placer claims totaling approximately 6,320 acres (2,557 hectares) and is located in an active area of lithium exploration and mining. The Silver Peak lithium mine operation, acquired by Albemarle Corporation (NYSE: ALB) in 2015, has extracted lithium minerals from brines continuously since 1966 and is located approximately 10 miles (15 kilometres) to the north of Neptune.
FMC Corporation (NYSE: FMC) recently announced that Paul Graves, Executive Vice President and Chief Financial Officer, will speak at the Wells Fargo Securities Industrial and Construction Conference in New York City, on Wednesday, May 11, 2016 at 1:55 p.m. ET. A live webcast will be available on the FMC Investor Relations website. For more than a century, FMC Corporation has served the global agricultural, industrial and consumer markets with innovative solutions, applications and quality products. FMC acquired Cheminova in April 2015. Revenue totaled approximately $3.3 billion in 2015. FMC employs approximately 6,000 people throughout the world and operates its businesses in three segments: FMC Agricultural Solutions, FMC Health and Nutrition and FMC Lithium.
Pure Energy Minerals Limited (OTCQB: HMGLF) (TSX.V: PE) announced recently that a core drill is once again turning at its Clayton Valley South ("CVS") Lithium Brine Project, located near Silver Peak, Nevada (the "Project"). Based on their successful track record during the phase 2 drill program at CVS, Harris Exploration Drilling and Associates Inc. remains the primary drill contractor on the Project. The drillers collared the new well (CV-3) approximately 200 metres (660 ft) southeast of CV-1. Drilled in the first phase of Pure Energy drilling at Clayton Valley, CV-1 was completed to only 275 metres (900 ft). The Company expects to drill CV-3 to a depth of up to 500 metres (1,640 ft) before completing its construction with appropriate gravel pack, bentonite, and screening.
Dajin Resources Corp. (OTC: DJIFF) & Galaxy Resources Limited (OTC: GALXF) are two other mining companies with recent developments in the Lithium sector to keep an eye on. GALXF traded over 960,000 shares on Wednesday closing up over 9% at $0.39. DJIFF realized a heavy trading day on Wednesday as well closing up over 13% on over 3.08Million shares traded by the market close.
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