CENTENNIAL, Colo., Dec. 18, 2017 (GLOBE NEWSWIRE) -- Westwater Resources, Inc. (Nasdaq:WWR) (“WWR” or “Westwater”) is pleased to announce that it has completed an evaluation and analysis of previously acquired geophysical data covering the Sal Rica lithium brine exploration project in the Pilot Valley of western Utah, and we have now commenced exploration drill program planning and permitting.
Highlights of the completed geophysical program at Sal Rica include:
- The analyzed geophysical data was assembled from over 1,016 gravity stations across the entirety of the Pilot Valley, including a private dataset containing 841 gravity stations acquired by WWR in June 2017. The data was compiled, modeled, and analyzed by a consulting geophysicist under contract with WWR;
- Geophysical modeling and interpretation of this data indicating that Westwater’s mineral rights cover both the deepest portion of the structural basin, as well as the younger, shallow and currently active evaporative basin. Both of these geological features are identified as attractive exploration targets; and
- Gravity data modeling indicating that the structural basin has a depth of approximately 8,000 feet, and the sequence of active, shallow basin evaporites extend to a depth of approximately 1,300 feet, with both areas having potential to host lithium-enriched brines.
The completed geophysical data interpretations have also been reviewed to determine geospatial relationships with WWR’s previously completed shallow brine sampling program across the Sal Rica project that highlighted the wide-spread distribution of anomalous lithium (values up to 100 ppm) in near-surface brines within the active evaporative basin area (see September 18, 2017 news release). This integrated geological, geochemical and geophysical data set will be used to develop and permit an exploration drill program, targeted to commence in the first half of 2018.
“This detailed geophysical analysis confirms the excellent exploration potential of our property in the Pilot Valley,” said Chris Jones, President and Chief Executive Officer. “Combined with our strongly anomalous brine sampling results, we have another compelling reason to advance our lithium brine exploration activities at the Sal Rica Project.”
About Westwater
WWR or the “Company” (formerly Uranium Resources, Inc.) is focused on developing energy-related minerals. The Company has developed a dominant land position in three prospective lithium brine basins in Nevada and Utah in preparation for exploration and potential development of any lithium resources that may be discovered there. In addition, WWR remains focused on advancing the Temrezli in-situ recovery (ISR) uranium project in Central Turkey when uranium prices permit economic development of this project. WWR controls extensive exploration properties in Turkey under eight exploration and operating licenses covering approximately 39,000 acres (over 16,000 ha) with numerous exploration targets, including the potential satellite Sefaatli Project, which is 30 miles (48 km) southwest of the Temrezli Project. In Texas, the Company has two licensed and currently idled uranium processing facilities and approximately 11,000 acres (4,400 ha) of prospective ISR uranium projects. In New Mexico, the Company controls mineral rights encompassing approximately 186,000 acres (75,300 ha) in the prolific Grants Mineral Belt, which is one of the largest concentrations of sandstone-hosted uranium deposits in the world. Incorporated in 1977, WWR also owns an extensive information database of historic drill hole logs, assay certificates, maps and technical reports for uranium properties located in the Western United States.
Furthermore, on December 13, 2017, WWR announced it had entered into a definitive agreement to acquire Alabama Graphite Corp. (AGC) (TSX-V: CSPG) (OTCQB: CSPGF) pursuant to an arrangement agreement and plan of arrangement. The primary asset of AGC is the Coosa graphite project, located across 41,900 acres in east-central Alabama. Finalization of the acquisition is subject to shareholder votes, as well as customary regulatory agency and court approvals. Closing of the acquisition is targeted for early in the second quarter of 2018.
