Pure Energy Completes Fourth Well on the Clayton Valley South Lithium Project
TSX VENTURE: PE
VANCOUVER, BC--(Marketwired - Feb 16, 2016) - Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTCQB: HMGLF) (the "Company" or "Pure Energy") is pleased to provide the following operational and exploration update on its winter drill program at its Clayton Valley South (CVS) Lithium Brine Project located in Esmeralda County, Nevada.
The Company has successfully completed well CV-4 from surface to a depth of 1,340 feet (408 metres) below ground level ("bgl"). After installing steel casing to approximately 400 feet (122 metres) below surface, the drillers employed mud rotary methods to complete the well. The drilling encountered several zones of very high permeability, including some intervals of flowing sands. High fluid inflows necessitated termination of the well before the targeted depth of 1,500 feet (457 metres). The drillers completed the well by installing a 3" (76mm) PVC casing with screened sections open from 260 feet (79 metres) to 1,200 feet (365 metres) bgl.
Pure Energy has maintained a geologist and/or hydrogeologist on site for all drilling activity, logging and sampling. The drilling crew developed the new well with air-lifting techniques and prepared it for down-hole geophysical logging and fluid sampling. Geologists have already dispatched samples of the drill cuttings to an accredited laboratory for geochemical analyses. In the coming days, the Company will deploy its proprietary sampling methodology to collect fluid samples for analysis.
CV-4 is the fourth well drilled by Pure Energy on the CVS Project; and it is located approximately 1.8 miles (2.9 km) southwest of CV-2 and 1.9 miles (3.0 km) northeast of CV-6 (see Company News Release dated January 21, 2016). Excellent progress is also being made on CV-5; target depth is expected very soon.
Pure Energy Minerals CEO, Robert Mintak, commented, "We are pleased to report that the drilling campaign continues to run smoothly and we are gathering excellent data as we expand our understanding of the CVS lithium-brine resource. Simultaneously, the team is ramping up activity as we make preparations for the commencement of the upcoming mini-pilot plant process testing work."
This phase of the exploration program steps out southwards from Pure Energy's previous drilling in the northern part of the CVS Project in order to increase drill density and confirm lithium grades in the Company's maiden resource (See Company News Release dated July 28, 2015). This program will provide geological, hydrogeological and geochemical information for the planning and permitting of future exploration. These data will support a Preliminary Economic Assessment expected during the middle of 2016, as previously announced.
Qualified Person and Quality Control/Quality Assurance:
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702), 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. Highsmith, CPG, is not independent of the Company as he is a director.
About Pure Energy:
Pure Energy is a lithium-brine resource developer that is driven to become the lowest-cost lithium supplier for the burgeoning North American lithium battery industry. Pure Energy is currently focused on the development of the prospective Clayton Valley South ("CVS") Lithium Brine Project, which has the following key attributes:
- A large land position with excellent existing infrastructure in a first-class mining jurisdiction: Approximately 9,324 acres in three main claim groups in the southern half of Clayton Valley, Esmeralda County, Nevada;
- Adjacent to the only producing lithium operation in the United States (Albemarle's Silver Peak lithium brine mine);
- An inferred mineral resource of 816,000 metric tonnes of Lithium Carbonate Equivalent (LCE), reported in accordance with NI 43-101;
- Metallurgical and process studies underway to better understand the feasibility and economics of using modern environmentally-responsible processing technology to convert the CVS brines into high purity lithium products for new energy storage uses.
On behalf of the Board of Directors
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Pure Energy Minerals Limited
Phone - 604 608 6611 ext 5