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Athabasca Nuclear Corp. Acquires Beaverhill Lithium Brine Project
Vancouver, British Columbia (FSCwire) - Athabasca Nuclear Corporation (TSX-V: ASC) (“ASC” or the “Corporation”) is pleased to report that it has acquired the Be
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[{"type":"text","content":"Vancouver, British Columbia (FSCwire) - Athabasca Nuclear Corporation (TSX-V: ASC) (“ASC” or the “Corporation”) is pleased to report that it has acquired the Beaverhill Lithium Brine Project located in the Swan Hills area of west-central Alberta. Within the region, formation waters associated with oil and gas wells are known to contain highly elevated concentrations of lithium, potassium, boron and other commodities. “The acquisition of the Beaverhill property provides ASC with access to a lithium brine project that is supported by top-tier infrastructure and accessibility. Government and private-sector research has identified spatially-extensive lithium brine prospects within Alberta and ASC is pleased to have secured an attractive lithium brine project for our shareholders. Today’s announcement builds on our Whabouchi spodumene lithium projects in Quebec and we continue to examine further opportunities with a view to constructing a diversified lithium platform,” noted Ryan Kalt, CEO of ASC. The Beaverhill Lithium Brine Project encompasses 9,216 ha (22,763 acres). Historic water samples from the Beaverhill Lithium Brine Project have to-date returned up to 100 mg/l lithium from the Leduc formation. ASC joins three other publicly-traded companies in the area, being Canadian International Minerals Inc., MGX Minerals Inc., and Empire Rock Minerals Inc., each of whom are advancing adjacent or nearby lithium brine projects. Of note, Canadian International Minerals Inc. (“CIN”) has recently released an inferred NI43-101 resource of 2,049,000 tonnes of lithium carbonate equivalent on their Leduc Lithium Brine Project (see http://www.cin-v.com/uploads/2/6/3/2/26321930/cin_nr_2016jan25_final.pdf). The lithium carbonate equivalent mineralization at CIN’s lithium brine project includes Li, K, B, Br, Ca, Mg, Na; this mineralization is not necessarily indicative of the mineralization at the Beaverhill Lithium Brine Project. Shareholders interested in learning more about Alberta’s lithium brine potential are encouraged to review the report, Geological Introduction to Lithium-Rich Formation Water with Emphasis on the Fox Creek Area of West-Central Alberta (NTS 83F and 83K)(ERCB/AGS Open File Report 2011-10) available online: http://ags.aer.ca/publications/OFR_2011_10.html In 2010, the Alberta Geological Survey (AGS) con...