VANCOUVER, British Columbia, April 20, 2016 /PRNewswire/ --
Nevada Energy Metals Inc. "the Company"TSX-V:BFF (OTC: SSMLF) (Frankfurt: A2AFBV) 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.
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.
The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements of National Instrument 43-101 and has been reviewed and approved on behalf of Nevada Energy Metals Inc. by Alan Morris, P. Geo, a Qualified Person.
About Nevada Energy Metals: http://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a well funded Canadian based exploration company who's primary listing is on the TSX Venture Exchange. The Company's main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has 100% ownership in 87 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America. Nevada Energy Metals has also acquired, 100 claims (Teels Marsh West) covering 2000 acres (809 hectares) at Teels Marsh, Mineral County, Nevada, a highly prospective lithium exploration project, 100% owned without any royalties, located on the western part of a large evaporation lake where a phase one, 20 hole shallow auger exploration program is in progress. Recently, on March 23, 2016 the Company announced the addition of the San Emidio Desert lithium project in Washoe County, Nevada. The Company's first lithium project, Alkali Lake, in Esmeralda county, is a 60% earn in option agreement from Dajin Resources Corp, where near surface lithium has been confirmed.
On Behalf of the Board of Directors
Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Nevada Energy Metals Inc.