VANCOUVER, BC,
Jan. 26, 2021 /CNW/ -- Nickel Rock
Resources Inc. ("the Company") (TSXV: NICL) (OTCQB:
NIKLF) is pleased to announce the expansion of its Clayton
Valley, Esmeralda County, Nevada
lithium property holdings by the staking of additional lithium
exploration claims that add to its overall lithium exploration land
package which is directly adjoining a western portion of
neighbouring lithium producer Albemarle's lithium evaporation
ponds. The new ground adjoins the previous property position
to the north and west and significantly expands the Company's land
position in the area. The new claim block consists of 41 lode
claims covering about 847 acres (343 Ha.) bringing the Clayton
Valley land package to 2,300 acres (930 Ha.). See
location map here Clayton Valley Location Map.
The new lithium exploration claims are directed at potential
lithium bearing clay deposits within lake sediments and ash beds
reported in rough drillers logs of historic water quality
monitoring wells on file with the Nevada State Engineers office
(permit #66034A). The clay layers encountered in these wells are
beneath gravel and alluvial cover and do not form obvious outcrops.
Additionally, the claims cover likely concealed faults shown
in geophysical studies conducted by Sierra Geothermal Power
Corporation in the 2008- 2010, which the Company believes to be
important in the formation of lithium-bearing clays.
Momentum for this new program stems from Albemarle's recent
announcement on January 7, 2021 that
it will commence exploration of clay and evaluate technology that
could accelerate the viability of lithium production from clay
resources in the region. As reported in the Globe & Mail
on January 11, 2021 about lithium
giant Albemarle "As a leader in the lithium industry, our priority
is to optimize our world-class resources and production. This
includes Silver Peak, a site uniquely positioned as the only
lithium-producing resource in the United
States," said Eric Norris,
Albemarle President, Lithium. It has been widely reported that
Albemarle is planning to double its lithium production by 2025 in
Nevada at the Silver Peak mine by
committing between US$30 million and
US$50 million in additional
investment on the property.
Currently known on the Nickel Rock claims are various geothermal
features like tufa (hot spring limestone carbonate formations) and
sinters (sedimentary rock formations primarily composed of silica
precipitated from hot waters) representing locations of upwelling
hydrothermal fluids that may play a role in the formation of
lithium rich clay deposits. Clayton Valley has several known
occurrences of lithium bearing clays and tuffs as documented by
academic publications and recent drill results released by Cypress
Minerals and others.
Robert Setter, President &
CEO recently commented "It is apparent that lithium extraction in
Clayton Valley from both lithium brine and lithium clays is fast
becoming a reality and Nickel Rock needs to be part of that
reality. In the months ahead, we will complete our first
reconnaissance drilling campaign to evaluate the potential for
lithium bearing brines as well as lithium bearing clays which is
significant for our shareholders. We are excited to begin
this journey on the property."
About Clayton Valley Lithium Project
Clayton Valley is a down-dropped closed basin formed by the
Miocene age Great Basin extension and is still active due to
movement along the Walker Lane structural zone. As a result,
the basin has preserved multiple layers of lithium bearing volcanic
ash, resulting from eruptions from the 700,000-year-old
Long Valley Caldera system and
related events. These ash layers are thought to be the source
of the lithium brines extracted by Albemarle and are also likely
involved in the formation of the exposed lithium rich clay deposits
on the east side of Clayton Valley.
Nickel Rock plans are to explore the combined property with
geologic mapping, rock chip sampling, and exploratory drilling
evaluations. Planning is underway and field work should
commence within the next few weeks.
Qualified person
Alan Morris is a qualified person
as defined by National Instrument 43-101 and has approved the
technical information contained within this news release.
About Nickel Rock Resources Inc.
Nickel Rock Resources is a Canadian-based mineral exploration
company with a highly focused effort on exploration for high-value
battery metals required for the electric vehicle (EV) market. The
company recently announced several acquisitions resulting in a
significant property package prospective for awaruite, a naturally
occurring nickel-iron alloy important in the manufacture of
environmentally efficient batteries for the electric vehicle
markets globally.
Nickel Projects
The Mount Sidney Williams Group consists of five claim blocks in
four groups with a total area of 6,125.32 hectares in the area
surrounding Mount Sidney Williams, both adjoining and near the
Decar project of FPX Nickel Corp., located 100 kilometres northwest
of Fort St. James, B.C., in the
Omineca mining division. Metallic mineralization includes nickel,
cobalt, and chromium. At least some of the nickel mineralization
occurs as awaruite.
The Mitchell Range Group area claim consist of two contiguous
claim blocks covering 3,134.70 hectares with demonstrated metallic
mineralization including nickel, cobalt, and chromium.
Nickel-cobalt mineralization has not been well explored, but the
presence of awaruite has been documented. The company is planning
detailed exploration for the upcoming exploration season. The
acquisition of the Hard Nickel group and the Nickel 100 claims are
subject 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 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. This news release may contain
forward-looking statements which include, but are not limited to,
comments that involve future events and conditions, which are
subject to various risks and uncertainties. Except for statements
of historical facts, comments that address resource potential,
upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and
others are forward-looking. Forward-looking statements are not
guaranteeing future performance and actual results may vary
materially from those statements. General business conditions are
factors that could cause actual results to vary materially from
forward-looking statements.
Contacts:
Nickel Rock Resources Inc.
1220 – 789 West Pender
Street
Vancouver, BC, Canada V6C 1H2
+1-604- 428-5690
www.nickelrockresources.com
info@nickelrockresources.com
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SOURCE Nickel Rock Resources Inc.