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Equitorial Exploration Corp. Signs JV Agreement with Voltaic Minerals Corp. on Green Energy Lithium Project
(via TheNewswire) Vancouver, BC, Canada / TheNewswire / January 27, 2017 - Equitorial ...
About this update from Lake Winn Resources Corp.
[{"type":"text","content":"Equitorial Exploration Corp. Signs JV Agreement with Voltaic Minerals Corp. on Green Energy Lithium Project(via TheNewswire)\n\n \nVancouver, BC, Canada / TheNewswire / January 27, 2017 - Equitorial Exploration Corp. (TSX Venture Exchange: EXX, Frankfurt: EE1) (\"Equitorial\") is pleased to announce that subject to the approval of the TSX Venture Exchange, it has entered into a 50/50 JV agreement with Voltaic Minerals Corp. (\"Voltaic\" TSX: VLT) on the Green Energy Lithium Project in Utah 30 miles southwest of Moab. \n\n\n \nAs per the agreement and subject to exchange approval, Equitorial has the right to participate on a 50/50 basis on all future work relating to the Green Energy Lithium Project. For this right Equitorial will invest $250,000 into Voltaic via private placement and reserve 5,000,000 shares of Equitorial to be issued upon successful completion of production of Lithium from the Green Energy Lithium Project using Voltaic's proprietary Lithium Process. The JV will have the right to utilize the process on the Green Energy Lithium Project and any other project that it deems suitable on a project by project basis. Equitorial and Voltaic within the JV will work to locate other projects that would be suitable for the Process and proceed on a 50/50 JV basis.\n\n \n \nGreen Energy Lithium Property\n\n \n \nAs reported by Voltaic, news release on January 27, 2017, the Green Energy Lithium Project property encompasses 4,160 acres and is located 30 miles west of the city of Moab, Utah. Saturated brines (40% minerals, 60% water) were discovered during historic oil exploration when drill wells intercepted Clastic Unit #14 of the Paradox Formation. Upon interception of Clastic Unit #14, at depths of approximately 6,000 feet, the exploration wells encountered blow-outs due to the over-pressurized system. Historic fluid analysis of the saturated brines on the Green Energy Project ranged from 81-174 mg/L Lithium; and as high as 1,700 mg/L, from the same Clastic Unit #14, less than 900m to the east-northeast on an adjacent property . Approximately 20 wells were drilled on the Green Energy Project, of which, 5 have analytical data for Lithium. \n\n \n \nEngineering reports from the 1960s concluded that the brine reservoir is extensive (over 10 square miles) and is recharged from fresh in-flows as indicated by well pressure measurem...