VANCOUVER, BRITISH COLUMBIA, CANADA – January 13, 2017.
LITHIUM ENERGY PRODUCTS LTD. ("Lithium Energy Products” or the “Company”) (TSX-V: LEP) (FRANKFURT: N8I) today announced that it has commenced exploration at its 100% owned Jackpot Lake property in Nevada on 9th of January.
Initial activities will include geological mapping and prospecting, followed by soil samples, auger samples and brine samples.
Basil Botha, Chairman of Lithium Energy Products, said “This initial work is a critical first step to building on the previous work conducted by USGS on the property. We are fortunate that this is a closed system with no outlet and we own 100% of the property. We are optimistic that this initial field work will give us a clear indication of the scope of the opportunity.”
The Company will be conducting bench tests to determine metallurgy and options for potential extraction methodologies on the samples and brines that will be taken on this program.
Concurrent with this fieldwork, the company continues to evaluate opportunities for acquisitions of energy metals properties. The company is investigating the acquisition of further lithium properties in the lithium triangle in South America and cobalt properties in North America and Africa.
About Lithium Energy Products Ltd.
Lithium Energy Products has 3 highly prospective lithium properties in Nevada and Arizona.
Jackpot Lake –Moapa Valley, Nevada
100% owned - 2800 acres – 140 claims
35 km NE of Las Vegas
1976 USGS completed 129 core samples; highest Lithium value was 550 ppm, average 175 ppm
Spectrographic and atomic-absorption analyses of 135 stream sediment
samples confirmed potential for lithium mineral deposits.
Wilcox Playa –Arizona
1400 acres on shore of Wilcox Playa – Dry lake bed
In 1976 USGS identified this area as one of the most prospective locations for lithium brines and highly analogous to Clayton Valley
USGS has identified a 22 sq. mile anomaly with high electrical conductivity, interpreted as subsurface brine field with no hydrological outlet.
Little Rock Lithium Target - Yavapai County – Arizona
High grade, lithium rich lacustrine clay identified.
Target is 2500 metres along strike of basin bounding fault, 300 m perpendicular to the fault and 20 m thick
Strongly clay-altered rhyolite tuff yielded highly anomalous lithium content of 172 ppm.
Hectorite clays from the same late Miocene lacustrine and volcanic strata 40 km east of the target area carry over 2,700 ppm Lithium
Identified via electromagnetic survey in 2007
Paul Sarjeant, P.Geo., is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this news release. Mr. Sarjeant is not independent to the Company as he is a director. The property has not been the subject of a NI 43-101 report.
The company is also the owner of five iron (magnetite) properties in the Red Lake District in the Province of Ontario. The Red Lake District is an established mining region where Lithium Energy Products has two near term development projects, the past producing Griffith mine and the Karas property.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information, please contact:
Lithium Energy Products Ltd.