(TheNewswire)
January 5, 2021 - TheNewswire - Vancouver, BC, Canada - Nickel Rock Resources Inc. (“the Company”) TSXV:NICL ) ( OTC:NIKLF ) is pleased to announce that planning for our 2021exploration programs is underway for both our primary nickelexploration project 65 km east of Smithers BC as well as our lithiumclaystone exploration program at Clayton Valley, Nevada. Havingrecently completed two financings totalling $1,520,000 the Company iswell funded to carry out the initial programs. Details of the exploration programs at our BC nickel project next toFPX Minerals Decar Project will be outlined in a NI 43-101 reportcurrently being prepared.
Clayton Valley ProjectExploration
The Company has 100% title to 77 lithium placer claimscovering over 640 hectares in Clayton Valley, Nevada, which untilrecently has been home to North America’s only producing lithiummine. The Company’s Clayton Valley Project is both an early-stagelithium brine and a lithiumclaystone prospect in Esmeralda County, Nevada. Plans are currently being drawn up for an exploration programbeginning early in 2021 with drilling being proposed. This is awell-located property contiguous and adjacent to the west side of theformerly producing Silver Peak Lithium Brine Mine and ProcessingFacility. Albemarle Corporation (NYSE:ALB) purchased the mine as part of itsacquisition of Rockwood Lithium that closed in early 2015. The UnitedStates Geological Survey estimates that over 300 million pounds oflithium carbonate have been produced at this facility since1966.
Exploration Potential
The general structure of the producing area in thenorth part of the Clayton Valley basin is known from geophysicalsurveys and drilling to be a graben structure with its mostdown-dropped portion the east-northeast side of the valley (Zampirro,2004).
A similar graben structure has been identified on theproperty of Nickel Rock Minerals in the north west part of the ClaytonValley basin where the Goat Island graben is inferred from gravityinversion (Quantec, 2008; Petrick, 2008). The valley is segmentedinto a northerly-trending, 1-2 km-wide sub-basin with a distinctescarpment on each side caused by the displacement of a block of landdownward. Recent work by other operators indicates that importantdeposits of lithium bearing claystone are being found in ClaytonValley and this will be the primary target for the proposed programcurrently being arranged. The Clayton Valley BFF-1 NI 43-101 TechnicalReport by Alan Morris, CPG, QP, states “The property has strongpotential to host lithium brine deposits in favorable geologichorizons within the basin fill. Another possible target is lithiumenriched clay within the fill package and potentially in previous highstands of the playa.” (April 2016) .
A short distance to the east, Cypress Development(TX-V: CYP) owns 100% of the Clayton Valley Lithium Projects locatedimmediately east of Albemarle’s mine. Exploration and development byCypress has discovered a large world-class resource of lithium-bearingclaystone adjacent to the brine field. Here, lithium mineralizationoccurs within montmorillonite clays throughout the sediments to adepth of at least 150 meters. Metallurgical testing indicates low-costprocessing can be achieved by leaching with low acid consumption (125kg/t) and high lithium recovery over 85% Li . These highextractions prove that the dominant lithium-bearing minerals presentare not hectorite, a refractory clay mineral which requires roastingand/or high acid consumption to liberate the lithium. Testing by other companies on their lithium clay properties,including Lithium Americas (Thacker Pass Project, Nevada), BacanoraMinerals (Sonora Project, Mexico), Ioneer (Rhyolite Ridge Project,Nevada) and Cypress Development (Clayton Valley Project) have allindicated that economic extraction of the lithium may well be possiblein the not-too-distant future.
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 Resources Inc. www.nickelrockresources.com
Nickel Rock Resources Inc 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 acquisitionsresulting in a significant property package prospective for awaruite,a naturally occurring nickel-iron alloy important in the manufactureof environmentally efficient batteries for the electric vehiclemarkets globally.
The Mount SidneyWilliams Group consists of five claim blocks in four groups with atotal area of 6,125.32 hectares in the area surrounding Mount SidneyWilliams, both adjoining and in close proximity to the Decar projectof FPX Nickel Corp. (TSXV:FPX) , located 100 kilometres northwest of Fort St. James, B.C.,in the Omineca Mining Division. Metallic mineralization includesnickel, cobalt, and chromium. At least some of the nickelmineralization occurs as awaruite.
The Mitchell Range Grouparea claim consist of two contiguous claim blocks covering 3,134.70hectares with demonstrated metallic mineralization including nickel,cobalt, and chromium. Nickel-cobalt mineralization has not been wellexplored, but the presence of awaruite has been documented. TheCompany is planning detailed exploration for the upcoming explorationseason. The acquisition of the Hard NickelGroup and the Nickel 100 claims are subject to TSX Venture Exchangeapproval.
Lithium Projects
The Clayton Valley Project is an early-stage lithiumbrine prospect in Esmeralda County, Nevada. A total of 77 placerclaims covering about 640 ha (1,500 acres) were staked over thewestern side of the Clayton Valley playa. The property position coversan inferred graben bounded by the Silver Peak range front on the westand Goat Island on the east. The exploration concept is the graben isa sub-basin of the larger Clayton Valley basin and may represent asecondary trap for lithium brines within the greater system.
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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