Vancouver, BC (FSCwire) - Voltaic Minerals Corp. (TSXV: VLT, FSE: 2P61) (the “Company”) has confirmed historic brine flow from 5 oil & gas production wells on its 100% owned Green Energy Lithium Project (the “Project”) in Utah, USA. The recent data supports the Company’s 3D model Phase 1 Work Program in confirming the historic presence of brine from Clastic Unit #14 along with several other potential zones spanning the Project acreage.
Oil & gas consultants analyzed over 50 years’ worth of oil & gas daily drilling reports, mud logs and well files from the Project and confirmed that brine flow in the wells originated from multiple horizons including Clastic Units #9, #10, #14, and #15. The target horizon as outlined in the 3D model, Clastic Unit #14, was intercepted in 3 of the 5 wells at an average depth of 6250 feet and occupied an average thickness of 20 feet. Clastic Unit #14, is an evaporate cycle which was discovered during historic drilling by Dr. John E Garret and several oil & gas companies when they experienced blowouts of over-pressurised brine systems due to its intersection. Lithium grades were reported up to as high as 187 mg/l on the property and up to 1700 mg/l 150 meters east of the Green Energy Lithium Project.
Voltaic Minerals Corp. will continue working with its oil & gas consultants to obtain access to the existing well head structures on the Project and enter the intricate system of brines. Utilizing the 3D model and the data disclosed herein, the Company intends to perform a bulk sampling work program to confirm the presence of the lithium bearing zone and associated brine data including but not limited to flow rates, temperature, and metallurgy. In addition, the Company intends to execute on its milestones of processing of the Green Energy Lithium Project brines using its Selective Lithium process with Enertrex Corp.
We are pleased to announce the appointment of Sean Charland as corporate secretary of the company. Sean is an experienced public company director and officer based in Toronto. Mr. Charland replaces Frances Petryshen, who has accepted a full time position with another company. We thank Frances for her dedicated work over the past several years.
Voltaic Mineral Corp. disclosure of a technical or scientific nature in this press release has been reviewed and approved by Rory Kutluoglu, P.Geo., who serves as a Qualified Person under the definition of National Instrument 43-101.
About Voltaic Minerals Corp.
Voltaic Minerals Corp. is a Vancouver-based lithium exploration company which owns 100% of the Green Energy Lithium Project that encompasses 4,160 acres of Bureau of Land Management (BLM) claims and is located in Grand County, 15 km west of the city of Moab. Lithium and other minerals occur at the project in an over-saturated brine (40% minerals, 60% water) discovered during oil exploration when drill wells intercepted Clastic Bed #14 of the Paradox formation.
Voltaic Minerals Corp. is also commencing process development and optimization using a Lithium Selective technique developed by Enertrex Corp. in accordance to a signed MOU agreement announced November 1, 2016. The Selective technique varies from traditional solar evaporation methods and has the potential to revolutionize Lithium processing as it stands today. The Lithium Selective technique could have the potential to efficiently process Lithium-bearing brines of differing metallurgy from various sources.
ON BEHALF OF THE BOARD
VOLTAIC MINERALS CORP.
“Darryl Jones”
Darryl Jones
President & CEO
Tel: 604.681.1568
info@voltaicminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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public://news_release_pdf/voltaic12122016.pdf
Source:
Voltaic Minerals Corp. (TSX Venture:VLT, FWB:2P61)
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