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Alba Minerals Increases Ownership of Clayton Valley Lithium Property to 50%, with Noram Ventures also Holding 50% - Video Available on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2018) - Alba Minerals (TSXV: AA) (F...
About this update from Avventura Resources Ltd.
[{"type":"text","content":"Alba Minerals Increases Ownership of Clayton Valley Lithium Property to 50%, with Noram Ventures also Holding 50% - Video Available on InvestmentPitch.comVancouver, British Columbia--(Newsfile Corp. - January 12, 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 re-negotiated the ownership terms of their Clayton Valley Lithium Property. Alba currently holds a 25% interest in the 12,920 acre lithium property owned by Green Energy Resources, Noram's wholly owned subsidiary, and will earn an additional 25% interest by paying $350,000 on or before March 1, 2018.InvestmentPitch Media has produced a \"video\" which provides a brief overview of the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Alba\" in the search box. Cannot view this video? Visit:http://www.investmentpitch.com/video/0_xwif5shq/Alba-Minerals-TSXVAA-along-with-its-joint-venture-partner-Noram-Ventures-TSXVNRM-have-re-negotiated-the-ownership-terms-of-their-Clayton-Valley-Lithium-PropertyThis amendment was the result of the mutual agreement between both parties to reduce the number of Clayton Valley claims from 888 to 646 during 2017, in order to focus on the properties that host lithium in clays, rather than brine, in keeping with the companies' technology. Management believes these properties offer the greatest potential given the environmental issues particular to Clayton Valley, namely the water table.Sandy MacDougall, Chairman and Director, stated: \"We are very pleased to be increasing Alba's ownership in this project by 25% to a total of 50% after the encouraging results from the recently published NI 43-101. We are progressing well and particularly pleased with results given the small 5-acre footprint explored out of a total of 12,920 contiguous acres. This is less than 1% of the total land package.\"The report, which is available on Alba's website, includes a detailed review of the exploration work completed to date, an inferred resource estimate, and recommendations for the next phases of work. It also identified an Inferred Mineral Resource of approximately 17 million metric tonnes at a grade of about 1,060 parts per million lithium, which equates to 96,476 metric tonnes of lithium carbonate equivalent.It is ...