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April 8, 2021 - TheNewswire - Vancouver, BC, Canada - Nickel Rock Resources Inc. (“theCompany”) ( TSXV:NICL ) ( OTC:NIKLF ) is pleased toannounce the conclusion of an initialexploratory drilling test on their Clayton Valley Project, EsmeraldaCounty, Nevada, USA. This strategic landpackage, covering approximately 2,300 acres (930 ha), directly adjoinsa 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 program consisted of three reverse circulationholes totaling 356 meters (1155 feet). The holes were intended totest the presence of lithium bearing clay members of the lakebedsediments. Drillhole RCV-01, drilled to a depth of 130m (425 feet),was designed to twin a geothermal gradient hole drilled by a previousexplorer. Results of this hole correlated with the log of theprevious hole including intervals of volcanic ash and dark green clay.Hole RCV-02, located approximately 1260 meters north of RCV-01 wasdrilled to a depth of 135.6m (445 ft) and penetrated a sectionconsisting primarily of rhyolitic volcanic ash and interbeddedsediments. It penetrated a 4.5-meter section of dark green claybefore entering the metamorphic alluvium. Poor drilling conditionsand high-water flows ended the hole before reaching the target depthbut after successfully evaluating the lake sediment section. HoleRCV-03, located 3,890m (12,762 ft) north from Hole RCV-01, wasdesigned to look for a perched section of volcanoclastic sedimentsbeneath an alluvial fan. Previous water well logs indicated a layerof clay, ash, and silt beneath the alluvium and above the bedrock.Apparently, this hole was located too close to the pediment andencountered metamorphosed dolomite at a depth of 56 meters (185 feet)and about the projected elevation of the sedimentary section. Thehole lost circulation in an apparent karst horizon at 68.5 meters (225feet) and was terminated at 79.2 meters (260 ft) without regainingsample return.
The samples collected from holes RCV-01 and RCV-02 havebeen shipped for sample preparation and analysis in Sparks, Nevada.Several water samples collected during the drilling program will soonbe shipped and analyzed for lithium brine.
Potential lithium bearing clays, within lake sedimentsand ash beds, were previously reported in rough drillers logs ofhistoric geothermal exploration wells on file with the Nevada StateEngineers office (permit #66034A). Well, GPXM2 (1994) reported“green to olive green siltstone, mudstone and clay” over athickness of 510 ft (155.4m) from 130 ft (39.6m) to 640 ft (195m). In January of 2006, Western Geothermal partners drilled hole WGP#2to a depth of 405 feet (123m) in the Goat Island graben. Accordingto their reports, this hole cut interbedded zones of gravel, silt, andhot spring apron material. More importantly, “from 280ft (85.3m) to305 ft (93m) fine grained green sand and silt logged as volcanic ashwas encountered. This unit may be correlative tothe Main Ash Aquifer, which is a marker bed in other areas of theClayton Valley Basin ”.
Mr. Robert Setter, Company President and CEO comments“Lithium clay exploration is booming again in Clayton Valley. Therecently completed reverse circulation drilling program allowed ourgeological team to identify various clay and ash in each drill holecompleted. Now that the current exploration program is done,groundwork for a more significant exploration program will soon getunder way. We are excited about this opportunity in Nevada, thereverse circulation drilling program has been helpful in identifyingimportant geological information on the sedimentary layers which willbe used assist the geos in planning future exploration on ourstrategically located project located next to Albemarle Inc. and nearCypress Minerals in Clayton Valley.
Mr. Alan Morris, Geological Consultant and Project QP,further comments “The clay layers encountered in the 1994 geothermalwell are beneath gravel and alluvial cover and do not form obviousoutcrops. This current drilling program has helped to define theclay layers, as well as, the determination of concealed faults whichthe Company believes to be important in the formation oflithium-bearing clays.”
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/
Qualified person
Alan Morris is a qualified person as defined byNational Instrument 43-101 and has approved the technical informationcontained within this news release.
About Nickel Rock ResourcesInc .
Nickel Rock Resources is a Canadian-based mineralexploration company with a highly focused effort on exploration forhigh-value battery metals required for the electric vehicle (EV)market. The company recently announced several acquisitions resultingin a significant property package prospective for awaruite, anaturally occurring nickel-iron alloy important in the manufacture ofenvironmentally efficient batteries for the electric vehicle marketsglobally.
Nickel 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 Range Group area claim consist of twocontiguous claim blocks covering 3,134.70 hectares with demonstratedmetallic mineralization including nickel, cobalt, and chromium.Nickel-cobalt mineralization has not been well explored, but thepresence of awaruite has been documented. The company is planningdetailed exploration for the upcoming exploration season.
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President & CEO
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 guaranteeingfuture 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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