LAS VEGAS, March 21, 2012 /PRNewswire/ -- New America Energy Corp. (OTC:NECA) (the "Company"), www.newamericaenergycorp.com, is pleased to report that the Company has agreed upon the second stage of exploration on its Clayton Ridge lithium brine prospect located near Silver Peak, NV.
The first phase of the exploration program was a recently completed geophysical gravity survey. Interpretation of the modeled gravity data indicates a large topographic low, or basin, that is closed over a wide range of depths. These areas may be conducive for concentration of lithium bearing brines.
The second stage Lithium brine exploration program will include extending the gravity survey to build the framework for the next stage of exploration to the north and northwest of the first survey and to test the gravity defined basin for conductors with a controlled source audio magnetotellurics/magentotellurics (CSAMT/MT) survey to further map any geologic structures that may be significant to the occurrence of Lithium brine. This detailed information will be used for the selection and design of a possible drilling program. GeoXplor Corp. and Hasbrouck Geophysics have been selected to perform the surveys and process and interpret the data. The Company anticipates the work to begin in the spring of 2012.
FORWARD LOOKING STATEMENT
This announcement is not an offer to sell any New American Energy Corp. ("NECA") shares or related securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of NECA may contain "forward looking statements." Such forward looking statements are identified by words such as "intends," "anticipates," "believes," "expects," and "hopes" and includes, without limitation, statements regarding the resource potential of the Clayton Ridge property, the existence of a lithium brine on the property, and continuing the exploration program in the spring of 2012. Forward-looking statements express our expectations or predictions of future events or results. They are not guarantees and are subject to many risks and uncertainties. There are a number of factors beyond our control that could cause actual events or results to be significantly different from those described in the forward-looking statements. Any or all of our forward-looking statements in this report or in any other public statements we make may turn out to be wrong. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.
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SOURCE New America Energy Corp.