(TheNewswire)
January 26, 2021 - TheNewswire - Vancouver, BC, Canada - Nickel Rock Resources Inc. (“the Company”) ( TSXV:NICL ) ( OTC:NIKLF ) is pleased toannounce the expansion of its Clayton Valley, Esmeralda County, Nevadalithium property holdings by the staking of additional lithiumexploration claims that add to its overall lithium exploration landpackage which is directly adjoining a western portion of neighbouringlithium producer Albemarle’s (NYSE: ALB) lithium evaporation ponds. The new ground adjoins the previous property position to the northand west and significantly expands the Company’s land position inthe area. The new claim block consists of 41 lode claims coveringabout 847 acres (343 Ha.) bringing the Clayton Valley land package to2,300 acres (930 Ha.). See location map here Clayton Valley LocationMap .
The new lithium exploration claims are directed atpotential lithium bearing clay deposits within lake sediments and ashbeds reported in rough drillers logs of historic water qualitymonitoring wells on file with the Nevada State Engineers office(permit #66034A). The clay layers encountered in these wells arebeneath gravel and alluvial cover and do not form obvious outcrops. Additionally, the claims cover likely concealed faults shown ingeophysical studies conducted by Sierra Geothermal Power Corporationin the 2008- 2010, which the Company believes to be important in theformation of lithium-bearing clays.
Momentum for this new program stems from Albemarle’srecent announcement on January 7, 2021 that it will commence exploration of clay and evaluatetechnology that could accelerate the viability of lithium productionfrom clay resources in the region. As reported in the Globe &Mail on January 11, 2021 about lithium giant Albemarle "As aleader in the lithium industry, our priority is to optimize ourworld-class resources and production. This includes Silver Peak, asite uniquely positioned as the only lithium-producing resource in theUnited States," said Eric Norris, Albemarle President, Lithium.It has been widely reported thatAlbemarle is planning to double its lithium production by 2025 inNevada at the Silver Peak mine by committing between US$30 million andUS$50 million in additional investment on the property.
Currently known on the Nickel Rock claims are variousgeothermal features like tufa (hot spring limestone carbonateformations) and sinters (sedimentary rock formations primarilycomposed of silica precipitated from hot waters) representinglocations of upwelling hydrothermal fluids that may play a role in theformation of lithium rich clay deposits. Clayton Valley has severalknown occurrences of lithium bearing clays and tuffs as documented byacademic publications and recent drill results released by CypressMinerals and others.
Robert Setter, President & CEO recently commented“It is apparent that lithium extraction in Clayton Valley from bothlithium brine and lithium clays is fast becoming a reality and NickelRock needs to be part of that reality. In the months ahead, we willcomplete our first reconnaissance drilling campaign to evaluate thepotential for lithium bearing brines as well as lithium bearing clayswhich is significant for our shareholders. We are excited to beginthis journey on the property.”
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 eruptions from the 700,000-year-old Long Valley Calderasystem and related events. These ash layers are thought to be thesource of 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.
Nickel Rock plans are to explore the combined propertywith geologic mapping, rock chip sampling, and exploratory drillingevaluations. Planning is underway and field work should commencewithin the next few weeks.
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. Theacquisition of the Hard Nickel group and the Nickel 100 claims aresubject to TSX Venture Exchange approval.
Lithium projects
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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