Vancouver, British Columbia--(Newsfile Corp. - February 5, 2018) - Alba Minerals (TSXV: AA) (FSE: A117RU) (OTC Pink: AXVEF) along with its joint venture partner Noram Ventures (TSXV: NRM) (FSE: N7R) (OTC Pink: NRVTF) have announced a new round of drilling on the Clayton Valley Lithium Project. Alba currently holds a 50% interest in the 12,920 acre lithium property owned by Green Energy Resources, Noram's wholly owned subsidiary.
Drilling in 2017 on the Clayton Valley project successfully outlined a significant lithium clay resource to an average depth of just 50 feet. Many of the drill holes ended in significant mineralization, and there is the potential to expand the deposit to greater depths.
Pending new drill permits, a recently constructed drilling rig will test to a depth of 300 feet on nine of the drill sites within the Inferred Resource boundary. A second phase of eleven drill holes is designed to expand the resource outside the Inferred Resource boundary along strike to the southwest and northeast.
In November, the company announced an Inferred Mineral Resource on the Zeus property of 17.1 million metric tonnes at a grade of 1,060 parts per million lithium, which equates to 96,476 metric tonnes of Lithium Carbonate Equivalent.
Sandy MacDougall, CEO, stated: "We are excited to commence drilling again at Clayton Valley. There is ample room for expansion at depth and along strike near the presently outlined resource. We are also keen on gaining a better understanding on non-hectorite lithium enrichment of the resources, as discussed by Cypress Development Corp. regarding their adjoining lithium property. Initial testing by Cypress indicated a significant portion of the lithium is water-soluble. If this is the case with our deposit, this could significantly reduce the cost of extraction technologies."
Clayton Valley is also home to Albemarle Corporation's lithium brine operations, the only lithium producer in the United States, which is located within one mile of the Alba & Noram property. And to the north is Tesla's Gigafactory. Tesla, with a planned production rate of 500,000 cars per year in the latter half of this decade, is expected to alone use today's entire worldwide production of lithium ion batteries.
The company's original Quiron II lithium property, in Argentina, consists of 2,421 hectares of prospective exploration property, approximately 12 kilometres from Liberty One Lithium Corp., and 19 kilometres from Pure Energy Minerals.
The company recently entered into an option to earn a 100% interest into the Chascha Norte Property. This new property consists of a single mining claim, covering 2,843 hectares, located in the Southeastern part of the Salar de Arizaro.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Barry Morgan, CFO