BOXS - BoxScore Brands Inc. Outlines 2022 Development Plans
Press Release I February 14, 2022 I OTC Pink: BOXS
Lisbon Valley Project Progressing Through Permitting
- Contracting industry leading resource engineering consulting firm to provide well access and drilling plan, necessary permits, field supervision and the completion of the NI 43-101 resource report
- Receiving bids from drilling companies with experience in eastern Utah and the Paradox formation.
- Establishing contacts with experienced laboratories for brine analysis
- Assuming reasonable agency permitting timeframes, we are expecting a completed NI 43-101 this summer
- We are reviewing additional wells and lands to expand on the project
- Receiving bids and mobile extraction designs from Lithium Extraction Technology providers
- Assessing several key strategic project financing opportunities.
Las Vegas, NV, Feb. 14, 2022 (GLOBE NEWSWIRE) -- BoxScore Brands, Inc.(OTC Pink: BOXS)(“BoxScore” or the “Company”) – a US based renewable energy company, today provided an update on near-term growth initiatives with its Lisbon Valley Lithium Brine project.
“The Company is acquiring and developing assets at an opportune time. As global electric vehicle (EV) production grow exponentially, their remains a shortage of Lithium production in the US and abroad. In turn, the commodity price of Lithium carbonate equivalent and related products has more than doubled since we began evaluating the opportunity. Global demand for lithium today and looking forward to 2030 and beyond has produced a generational investment opportunity that we are positioned to capitalize on.” commented BoxScore Brands, Inc. CEO, Andrew Boutsikakis
“We are currently advancing our flagship Lisbon Valley Lithium Brine Project through key permitting, engineering, and financing steps” Mr. Boutsikakis added, “Our ambition is to achieve significant milestones and corporate growth this year. Our recent technical report - the first step in attaining our completed NI 43-101 - highlighted what the management team already understood through its extensive due-diligence process; historical data show a super saturated brine (40% minerals, 60% water) with reported Lithium values ranging from 81 to 1700ppm and estimated flows in excess of 50,000 barrels of brine per day.”
“In addition to the Lisbon Valley project, we are evaluating the acquisition of additional claims and reviewing collaborative opportunities on a number of other brine projects in order to capitalize on our targeted, efficient, environmentally friendly and cost-effective approach to Lithium extraction.”
About our Lisbon Lithium Project
The Lisbon Lithium Project, is located in San Juan County, in southeastern Utah, USA, southeast of the City of Moab. The Company’s property position consists of 102 placer mining claims staked in one contiguous group on U. S. Government lands administered by the U. S. Bureau of Land Management (BLM).
About the Technical Report
BoxScore commissioned Plateau Ventures and Peek Consulting, both with years of experience in eastern Utah, to conduct these reviews. The technical report reviewed nearly 100 years of brine exploration in this area, and the supporting geology, stratigraphy and physiography. The Lisbon Lithium Project initially attracted attention because of high lithium values reported in the literature in brines recovered from oil and gas and potash exploration wells. The area has seen a long history of oil and gas exploration and hosts a potash mine in Grand and San Juan counties. Many of the wells drilled for oil and gas and for potash penetrated the brine-rich Paleozoic sediments that make up the current project’s target. But a review shows that many wells were tested for lithium and many other minerals and metals. These demonstrate a significant opportunity, due to a high probability of intersecting super saturated brines, and that there is a substantial indication that lithium mineralization in brines occurs beneath the subject property.
Safe Harbor
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements, which include the possible resumption of regular trading of our common stock on the OTCQB tier of the OTC Markets, are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov . The Company does not undertake any obligation to update forward-looking statements contained in this press release, unless required by federal securities laws.
Company Contact:
Andrew Boutsikakis, CEO
ir@boxscore.com