(TheNewswire)
Vancouver, British Columbia – June3, 2024 – TheNewswire – Apex Resources Inc.(“Apex” or the “Company”) (TSXV: APX) has commenced lithiumbrine exploration at the newly acquired Lithium Creek Project (the“Project”) in Churchill County, Nevada, USA. Apex’s primaryobjective is to identify and define drill targets with high potentialto penetrate lithium brine bearing aquifers.
Apex will conduct modern exploration for lithium/boronbrines which have not been attempted in this region of Nevada, wherethe prospects indicate a high potential for a new discovery ofuntapped lithium reserves. As part of the current exploration program,Apex will complete the following:
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Geophysical magnetotelluric (“MT”) surveys of theProject to examine resistivity footprints of potential shallow anddeep brine waters, in addition to a gravity survey to examine thepotential geometry of the basin and depth to bedrock. A seismic surveymay also be completed to identify potential faults influencing lithiumbrines in the area.
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Surface water and shallow groundwater sampling, with ageochemical analysis program focusing on identifying geochemicalsignatures of lithium bearing brines in the district.
About the Lithium Creek Project
The Project consists of approximately 4,720 acres ofactive mining claims in west-central Nevada. The Project is in adistrict which historically was mined for salt products, withcommercialization first occurring in 1871. Two discoveries of lithiumand boron in brine waters were recently made on the Project in twoprospect areas close together each displaying brines with lithium inanomalous concentrations in flowing surface water and in shallowgroundwater.
Laboratory analyses indicate total lithiumconcentrations range from approximately 13 to 22 mg/L in LithiumCreek, which flows through the Project. Lithium brines were discoveredin higher concentrations ranging from 210 to 330 mg/L in the historicevaporation vats adjacent to the Project’s active mining claims.Boron is also present at concentrations from 220 to 400 mg/L in theevaporation vats. Total lithium concentration analysed from samplescollected in historic wells and hand dug pits in the area ranged from34 to 56 mg/L. Samples from the historic wells and hand dug pitsstrongly indicate potential for a shallow lithium bearing groundwatersystem to exists at the Project, with multiple similarities to theshallow pre-mining brine aquifer in Clayton Valley, Nevada.
The Project is located approximately 70 km east ofReno, Nevada via Interstate Highway I-80, and within 30 minutes of theNevada lithium battery hub of the Tahoe-Reno Industrial Center andLilac Solution’s manufacturing facility located in Fernley, Nevada. The Project is ideally located andsupported by extensive infrastructure to include existing roads,railroad access, fiber optics and geothermal power.
The Project is further described in the technicalreport with an effective date of March 8, 2024 and entitled “NI43-101 Technical Report Describing The Lithium Creek Project,Churchill County, NV USA” (the “Technical Report”) which hasbeen filed on SEDAR+ and can be viewedat www.sedarplus.ca under Apex’s profile. A copy of the Technical Report isalso available on the Company’s website at www.apxresources.com .
The technical information in this news release has beenprepared in accordance with Canadian regulatory requirements as setout in National Instrument 43-101 and reviewed and approved byGeoffrey Baldwin, PG, SME-RM, who is independent of Apex and who actsas Apex’s Qualified Person.
On Behalf of the Board of Directors of
Apex Resources Inc.
Jay Roberge,
President.
Ph. +1(778)895-0247 or info@apxresources.com website: www.apxresources.com
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term in defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this press release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:This news release may contain forward-looking information within themeaning of applicable securities laws (“forward-lookingstatements”). Forward-looking statements are statements that are nothistorical facts and are generally, but not always, identified by thewords “expects,” “plans,” “anticipates,” “believes,”“intends,” “estimates,” ‘projects,” “potential” andsimilar expressions, or that events or conditions “will,”“would,” “may,” “could” or “should” occur. Theseforward-looking statements are subject to a variety of risks anduncertainties which could cause actual events or results to differmaterially from those reflected in the forward-looking statements,including, without limitation: risks related to fluctuations in metalprices; uncertainties related to raising sufficient financing to fundthe planned work in a timely manner and on acceptable terms; changesin planned work resulting from weather, logistical, technical or otherfactors; the possibility that results of work will not fulfillexpectations and realize the perceived potential of the Company’sproperties; risk of accidents, equipment breakdowns and labourdisputes or other unanticipated difficulties or interruptions; thepossibility of cost overruns or unanticipated expenses in the workprogram; the risk of environmental contamination or damage resultingfrom Apex’s operations and other risks and uncertainties. Anyforward-looking statement speaks only as of the date it is made and,except as may be required by applicable securities laws, the Companydisclaims any intent or obligation to update any forward-lookingstatement, whether as a result of new information, future events orresults or otherwise.
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