Vancouver, June 20, 2016 - Avarone Metals Inc.
(CSE: AVM) (Frankfurt: W2U1; WKN: A14SVX) (the "Company" or "Avarone") is pleased to announce that it is currently executing Phase Two of its exploration program at its 100% owned Moab Lithium Project in the South Big Smoky Valley, Nevada. The Company has commenced drilling and plans on completing up to 16 holes utilizing a Vibracore drill and a Shaw diamond drill with large diameter NQ rods (47.6mm core diameter) as well as AQ rods (27.0mm core diameter) for superior sample recovery to depths, depending on ground conditions, of up to 50m. The purpose of the drilling is to test subsurface layers for lithium and other commercial elements, such as boron and potassium, and the Company is fully permitted for up to 20 holes.
The Moab Lithium Project ("Moab") fits well into the playa-type brine deposit model as it is located adjacent to, and shares geological similarities with the Clayton Valley, home to the only lithium producing brine operation in North America. A playa is an internally drained brine deposit, the surface of which is primarily composed of silts and clays in which lithium can accumulate from the surrounding source rocks during successive evaporation and concentration events. Evaluation of regional gravity data has led to the hypothesis that the Big Smoky Valley has been in-filled with an estimated 2000m to 2500m of alluvial fill and may have the potential to host a significant mineral deposit.
"Our short hole drilling program will provide a more accurate assessment of the project at depths of up to 50m. We look forward to receiving these results and moving towards Phase 3 of drilling exploration. As well, we are very encouraged that the salt-bearing zones, in addition to the volcanogenic clays encountered at Moab, support previous observations made by historical USGS surveys on both the Moab property as well as Ultra Lithium's contiguous property, which is currently being drilled within the same enclosed basin," said CEO Marc Levy.
About Lithium in Nevada
Lithium is a scarce and technologically important element produced primarily from brines and pegmatites. Although it is a non-renewable resource, it is used in conjunction with renewable energy technologies and hybrid automobiles, primarily in the form of Li-ion batteries, currently the most widely applied battery technology in many electronic devices. The consumption of lithium carbonate is on the rise and so far global production has kept pace with demand.
The Big Smoky Valley, located in the Range Province in southern Nevada, is an internally drained, fault bounded and closed basin approximately 3 kilometers wide and 14 kilometers long. Geological modeling suggests that lithium-rich brines have been transported and deposited in the both the Clayton and Big Smoky Valleys since the Pleistocene era. The primary exploration model is to identify and map basins with ground gravity surveys and evaluate the chemistry of salts and sediments therein with RC or rotary-mud drilling. In the later stages of exploration, downhole geophysics and seismic reflection surveys are also utilized to define lithium-bearing aquifers.
The technical content of this news release has been prepared under the supervision of Peter Born, P. Geo., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
On behalf of the Board of Directors,
AVARONE METALS INC.
For more information contact the Company at:
Telephone: (604) 669-9788
Facsimile: (604) 669-9768
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