(TheNewswire)
Vancouver, BC, Canada – TheNewswire - May 6,2021 - Nickel Rock ResourcesInc. (“the Company”) ( TSXV:NICL ) ( OTC:NICKLF ) is pleased to announce the analytical results of an initialexploratory drilling program on their Clayton Valley Lithium Project,Esmeralda County, Nevada, USA. This strategicland package, covering approximately 2,300 acres (930 ha), directlyadjoins a western portion of lithium producer Albemarle’s (NYSE: ALB) evaporation ponds and is nearby Cyprus Development Corp.’s (TSXV: CYP) 5,430-acre Clayton Valley Lithium Clay Project.
The exploration program consisted of three reversecirculation holes totaling 356 metres (1155 feet). The holes wereintended to test the presence of lithium bearing clay members of thelakebed sediments.
Drillhole RCV-01, drilled to a depth of 130 metres (425feet), designed to twin a geothermal gradient hole drilled by aprevious explorer. Results of this hole correlated with the log ofthe previous hole including intervals of volcanic ash and dark greenclay. The hole ended in alluvial gravel made up of metamorphic rocksshed from the Silver Peak Range. The hole did not reach the planneddepth of 183 metres due to poor ground conditions but did assess thelake sediment target section. Assay results from this hole showedmixed results with only the top 6 meters (20 feet) of the holereturning more than 75 ppm Li. The average grade of the interval0-6.1 metres was 309 ppm Li. Two water samples were collected fromthe borehole at 99 meters (325 feet) and 129 metres (425 feet) ran31.4 and 41.0 mg/L Li, respectively.
Hole RCV-02 was drilled about 1260 meters north ofRCV-01. RCV-02 was drilled to a depth of 136 metres (445 ft) andpenetrated a section consisting primarily of rhyolitic volcanic ashand interbedded sediments. RCV-02 penetrated a 4.5 metre section ofdark green clay from 105.1 to 109.7 metres (345-360 ft) beforeentering the metamorphic alluvium. Poor drilling conditions andhigh-water flows ended the hole before reaching the target depth butafter successfully evaluating the lake sediment section.
Analytical results from this hole fared better than theRCV-01 with the interval 0 - 36.6 metres (0-120 feet) averaging 196ppm Li. Within this interval, and from 18.3 to 25.9 metres (60 - 85feet) an elevated Li zone was intersected averaging 279 ppm Li withthe single best interval in this hole being 332 ppm between 18.3 and19.8 m (60 - 65 feet). Water samples at 74.6 metres (245 feet),105.1 metres (345 feet), and 137 metres (450 feet) ran 20.5, 21.0, and32.8 mg/L Li, respectively.
Hole RCV-03 was designed to look for a perched sectionof volcanoclastic sediments beneath an alluvial fan. Previous waterwell logs indicated a layer of clay, ash, and silt beneath thealluvium and above the bedrock. While drilling, this holeencountered metamorphosed dolomite at a depth of 56 metres (185 feet)about the projected elevation of the sedimentary section. The holelost circulation in an apparent karst horizon at 65.5 metres (215feet) and was terminated at 79.2 metres (260 ft) without regainingsample return. Since the target sediments were not encountered, thishole was not assayed.
Drill chip samples were partially dried at the drillsites for two days in the case of RCV-01 and overnight in the case ofRCV-02 before being picked up by a driver for Paragon Geochemical. The samples were transported to the Paragon laboratory on April 2where they were dried, crushed, and pulverized. Analysis was by ICP-Mass Spectrometry following an aqua regia leach using a 0.5 gramsample aliquot.
Envelopes of standard material obtained from MineralsExploration Geochemistry of Lamoille, Nevada were inserted into thesample stream at roughly 30.5 metres (100 foot) intervals. The eightstandard samples returned lithium values ranging from 482 to 599 ppmLi with an average of 557 ppm Li. The analytical variability ofabout 20% is a bit high and is possible the small aliquot size and aqua regia leach may have played a role inthis. However, the values are acceptable for an early stage program. Other elements showed a similar range of values while others werewithin much tighter limits.
Water samples were collected by the project geologistand delivered to the ALS Global sample preparation lab in Elko, NevadaApril 5. Samples were filtered and analyzed by a combination ofICP-MS and ICP-OES methods by ALS Global. Standards were notinserted into the sample stream. A sample of drill make up water takenfrom the Silver Peak municipal well was used as a background sample;it ran 70 micro grams per liter (70 parts per billion).
Mr. Ali Alizadeh Company Director and a seniorgeologist with extensive experience in mineral exploration and projectmanagement comments “The Clayton Valley area is booming again forlithium clay exploration. With our current exploration programcompleted, we will be able to lay the groundwork for a moresignificant exploration program budget and program in the future. Weare excited about this opportunity in Nevada for our lithium clayproject and this reverse circulation drilling program has been helpfulin identifying important geological information on the sedimentarylayers. This will assist us in planning future exploration on ourstrategically located project next to Albemarle, Pure Energy and nearCypress Minerals in Clayton Valley”.
Qualified person
The drilling was conducted under the supervision ofAlan Morris, CPG, who serves as the project geologist and QualifiedPerson for this project and news release asdefined by National Instrument 43-101. Mr. Morris has approved thetechnical information contained within this news release.
About Nickel Rock ResourcesInc.
The Company is a Canadian-based mineral explorationcompany active in the exploration for nickel-iron alloy in BritishColumbia and lithium in Nevada. Nickel Rock Resources Inc. is aCanadian based exploration company whose primary listing is on the TSXVenture Exchange. The Company’s maintains afocus on exploration for high value battery metals required for theelectric vehicle (EV) market. ( http://www.nickelrockresources.com/ )
About Clayton Valley LithiumProject
Clayton Valley is a down-dropped closed basin formed bythe Miocene age Great Basin extension and is still active due tomovement along the Walker Lane structural zone. As a result, thebasin has preserved multiple layers of lithium bearing volcanic ash,resulting from multiple eruptive events over the past 6 million yearsincluding eruptions from the 700,000-year-old Long Valley Calderasystem and related events. These ash layers are thought tocontribute to the lithium brines extracted by Albemarle and are alsolikely involved in the formation of the exposed lithium rich claydeposits on the east side of Clayton Valley. https://nickelrockresources.com/clayton-valley-lithium/
About the British Columbia, CanadaNickel Projects
The Mount Sidney Williams Group consists of five claimblocks in four groups with a total area of 6,125.32 hectares in thearea surrounding Mount Sidney Williams, both adjoining and near theDecar project of FPX Nickel Corp., located 100 kilometres northwest ofFort St. James, B.C., in the Omineca mining division. Metallicmineralization includes nickel, cobalt, and chromium. At least some ofthe nickel mineralization occurs as awaruite. The Mitchell RangeGroup area claim consist of two contiguous claim blocks covering3,134.70 hectares with demonstrated metallic mineralization includingnickel, cobalt, and chromium. Nickel cobalt mineralization has notbeen well explored, but the presence of awaruite has been documented.
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President & CEO
604- 4 28-5690
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-lookingstatements.
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