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Lithium Energy Products Completes the Willcox Lithium Project Acquisition and Fulfils the Most Recent Jackpot Lake Lithium Project Scheduled Acquisition Payment
(via TheNewswire) Vancouver, British Columbia / TheNewswire / July 3...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Lithium Energy Products Completes the Willcox Lithium Project Acquisition and Fulfils the Most Recent Jackpot Lake Lithium Project Scheduled Acquisition Payment(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / July 30, 2018 - LITHIUM ENERGY PRODUCTS INC. (\"Lithium Energy Products\" or \"LEP\" or the \"Company\") (TSX-V: LEP) (FRANKFURT: N8I) is pleased to announce it has completed its 100% acquisition of the Willcox Playa lithium property (the \"Willcox Lithium Property\") in Arizona, and has fulfilled its penultimate payment on the Jackpot Lake lithium project (the \"Jackpot Lake Lithium Property\") in Nevada. \n\n \n \nThe Willcox Lithium Property consists of 1,400 acres in a flat, arid drainage basin in the Arizona desert. In 1976 USGS identified this area as one of the most prospective locations for lithium brines and highly analogous to Clayton Valley. The USGS has identified a 22-sq. mile anomaly with high electrical conductivity, interpreted as subsurface brine field with no hydrological outlet. The Company has plans to complete a gravitational survey on the project later this year, which it plans to follow up with an electromagnetic analysis. \n\n \n \nThe Jackpot Lake Lithium Project consists of 140 placer claims in a flat, arid drainage basin, occupying approximately 2,800 acres and is analogous to other prospective lithium exploration operations currently undergoing development nearby. LEP has completed both gravitational and CSAMT/MT surveys on the project, identifying a closed basin filled with highly enriched brine. The geology and conditions of Jackpot closely resemble Abermarle's nearby Nevada based lithium producing mine; and at least six other start-up companies also recognize the highly promising geological setting and have recently placed or leased claims in close proximity. \n\n \n \nJames Walker, CEO of LEP said, \"We are very pleased to have fully acquired 100% of the Willcox Lithium Property. We believe it has enormous potential and will form a core part of our business in the future. Likewise, we are pleased to have progressed our acquisition of the Jackpot Lake Lithium Property, and following the next payment we will own 100% of that project. Lithium, energy metals and the electric battery are an intrinsic part of our future technologies, vehicles and infrastructure, and demand will ...