Vancouver, BC (FSCwire) - Voltaic Minerals Corp. (TSXV: VLT, FSE: 2P61) (the “Company”) is pleased to announce that it has completed the first phase of its 2016 work program at the 100% owned Green Energy Lithium Project in Utah, USA. The program was designed to define preliminary drill targets through the construction of a definitive 3D model using publicly accessible historic oil well drilling and geophysical data.
The completed model has provided insight to the characterisation of the anticline within the Paradox Formation on the Green Energy Project. The historically logged data from 8 wells on the Green Energy property, determined the horizon of interest, also referred to as Clastic Bed #31, which ranges in thickness between 18ft to 37ft at depths of 6,000ft to 6,500ft, from surface. Clastic Bed #31 consists of 30ft of shale, anhydrite and dolomite and is not considered to be part of any oil reservoir. The findings are concurrent with engineering reports from the 1960s which concluded that the brine reservoir is extensive – over 10 square miles.
The information and modelling results now enables the Company to proceed with a targeted brine sampling program. The project is ideally located for development with excellent infrastructure including railhead and transmission lines only 19 miles away.
Voltaic Minerals Corp.’ disclosure of a technical or scientific nature in this press release has been reviewed and approved by Rory Kutluoglu, P.Geo. who serves as a Qualified Person under the definition of National Instrument 43-101.
About Voltaic Minerals
Voltaic Minerals Corp. is a Vancouver-based lithium exploration company which owns 100% of the Green Energy Lithium Project that encompasses 4,160 acres of Bureau of Land Management (BLM) claims and is located in Grand County, 9 miles west of the city of Moab. The Paradox formation has been defined by several historical oil and gas test wells throughout the region. Specific to the Green Energy property, three holes have been drilled and sampled whereby lithium and other minerals occurred in over-saturated brine (40% minerals, 60% water) upon interception of Clastic Bed #31 of the Paradox formation.
ON BEHALF OF THE BOARD
VOLTAIC MINERALS CORP.
“Darryl Jones”
Darryl Jones
President & CEO
Tel: 604.681.1568
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Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
