(TheNewswire)
March 1, 202 1 - TheNewswire - Vancouver,BC, Canada - Nickel Rock Resources Inc. (“the Company”) ( TSXV:NICL ) ( OTC:NIKLF ) is pleased to announce that a drill contract, contemplatingapproximately 3,000 feet of reverse circulation (RC) drilling, hasbeen signed with Alford Drilling, LLC. of Spring Creek, Nevada. Theproject calls for a drilling program that will result in up to sixexploration holes at the Company’s recently expanded claim block atSilver Peak, Clayton Valley, Esmeralda County, Nevada.
The Nickel Rock land package directly adjoins a westernportion of neighbouring lithium producer Albemarle’s (NYSE: ALB)lithium evaporation ponds and covers approximately 2,300 acres (930Ha) of potential lithium bearing clay and brine deposits within lakesediments and ash beds reported in rough drillers logs of historicwater quality monitoring wells on file with the Nevada State Engineersoffice (permit #66034A). Albemarle recently announced on January 7, 2021 that it will commence exploration for clay and evaluatetechnology that could accelerate the viability of lithium productionfrom clay resources in the region. 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.
The Nickel Rock land package is also nearby the 5,430acres of lithium clay properties owned by Cypress Development Corp.referred to as the “Cypress Clayton Valley Lithium Clay Project”which is immediately east of the Albemarle Silver Peak Mine. Exploration and development by Cypress has discovered a large world-class resource oflithium-bearing claystone adjacent to the brinefield to the east and south of its property. At this property,lithium mineralization occurs within montmorillonite clays throughoutthe sediments to a depth of at least 150 meters and metallurgicaltesting indicates low cost processing can be achieved by leaching withlow acid consumption (125 kg/t) and high lithium recovery over 85%Li. These high extractions prove the dominant lithium-bearingminerals present are not hectorite, a refractory clay mineral whichrequires roasting and/or high acid consumption to liberate thelithium. On February 9, 2021 , Cypress Development Corp. announced an upsized bought dealoffering of CAD$17,000,000 which shows the significant interest inthis property and the lithium clay deposit.
Mr. Robert Setter, Company President and CEO comments “The clay layers encountered in the wells at Nickel Rock’sClayton Valley Lithium Project are beneath gravel and alluvial coverand do not form obvious outcrops. Additionally, the Company claimscover likely concealed faults shown in geophysical studies conductedby Sierra Geothermal Power Corporation in the 2008- 2010, which theCompany believes to be important in the formation of lithium-bearingclays. We are excited about capturing this renewed investor interestfor the potential of lithium bearing clays in the region.”
Nickel Rock claims cover various geothermal featureslike tufa (hot spring limestone carbonate formations) and sinters(sedimentary rock formations primarily composed of silica precipitatedfrom hot waters) representing locations of upwelling hydrothermalfluids that may play a role in the formation of lithium rich claydeposits. Clayton Valley has several known occurrences of lithiumbearing clays and tuffs as documented by academic publications andrecent drill results released by Cypress Minerals and others.
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.
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 . www.nickelrockresources.com
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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