LAS VEGAS, Feb. 22, 2011 /PRNewswire/ -- First Liberty Power Corp. (OTC Bulletin Board: FLPC) www.firstlibertypower.com announces the completion of the field work component of the controlled source audio magnetotellurics / magentotellurics ("CSAMT/MT") survey, part of the Company's geophysical exploration program on its Esmeralda County, Nevada, Lida Valley Lithium property.
Mr. Nicholson commented, "The results of the survey will be interpreted by Hasbrouk Geophysics and will be forwarded to the Company in several weeks' time. Any electromagnetic anomalies discovered by the survey will be followed up, and it is my hope we will be able to create a detailed drilling program utilizing data from both the previous Gravity Survey and the current CSAMT/MT survey."
The first phase of the exploration program on the Lida Valley property was a two-part gravity survey, successfully completed this past summer. The data generated by the gravity surveys indicate several areas of increased bedrock depths or lower bedrock elevations. These areas may be conducive for concentration of lithium bearing brines.
The CSAMT/MT survey will assist in determining if conductive zones, potentially indicative of lithium-bearing brines, are present and continuous within the basin. CSAMT/MT is a geophysical method commonly used in the exploration industry. It determines the earth's two dimensional subsurface electrical resistivity distribution by measuring time-dependent variations of the Earth's natural electric and magnetic fields, as well as the electric and magnetic fields resulting from high frequency-induced waves. The resistivity information is generally used to determine subsurface geologic and hydrogeologic conditions and structure. The CSAMT/MT method is designed to investigate from depths of approximately 20 - 750 metres.
The Lida Valley property shares a similar geology and weathering history to nearby Clayton Valley (where the Company recently entered into an LOI to acquire an additional 3,000 acre claim block), and is located within 15 miles of the Montezuma Peak, which is believed to be the source of the region's lithium. The north end of Clayton Valley hosts Chemetall Foote Corporation's Silver Peak mine, the only lithium brine producer in the United States. Mine production comes from lithium enriched sub-surface brine located. This plant has been in production since 1967 and is designed to produce up to 1.2 million kilograms of lithiumhydroxide per annum.
First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium exploration and development in the United States. The Company is positioned to capitalize on the anticipated increase in demand for lithium carbonate that is projected to result from the acceleration of the adoption and use of clean renewable energy products that utilize lithium-ion batteries.
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, exploration/work program for the Lida Valley claims including the current CSAMT/MT survey, potential lithium production from the Clayton Valley or surrounding regions, and any mineralization, exploration and development of our mineral properties, specifically in regards to Lithium.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE First Liberty Power Corp.