Business
Pure Energy Minerals Discovers Higher Grade Lithium at Depth in New Wells at Clayton Valley South, Nevada
DENVER, May 09, 2017 (GLOBE NEWSWIRE) -- Pure Energy Minerals Limited (TSX-V:PE) (FRANKFURT:A111EG) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) is pleased to
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":"DENVER, May 09, 2017 (GLOBE NEWSWIRE) -- Pure Energy Minerals Limited (TSX-V:PE) (FRANKFURT:A111EG) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) is pleased to announce results from depth-specific brine samples from exploratory wells CV-7 and CV-8 on the Clayton Valley South Project (the “CVS Project” or the “Project”). Positive indications of lithium enriched brine occurred throughout the screened intervals of the wells, with increased concentrations in deeper samples. The average lithium concentration over the screened interval in CV-7 was 70 milligrams per liter (mg/L) lithium, ranging between 56 and 109 mg/L lithium. The CV-8 samples averaged 134 mg/L, including a range of lithium values from 58 to 229 mg/L. The interval from 640 meters (m) (2,100 feet [ft]) to the bottom of the screening at 867 m (2,845 ft) in CV-8 contained average lithium concentrations of 210 mg/L. The deeper part of the aquifer system in CV-8 thus contains considerable thickness of some of the highest-grade lithium brine yet encountered on the Project. Pumping test samples collected at both wells also yielded consistently high lithium values that may indicate mixing of the brine from the multi-layer aquifer system. The lithium content of brine from the CV-8 pumping test stabilized after only 6 hours of pumping, while lithium values in the CV-7 pumping test became relatively steady after about 12 hours. The stable production of high-lithium brine over the duration of the pumping tests demonstrates potential for sustained production of lithium-bearing brine from the aquifer systems encountered in these wells. Patrick Highsmith, Pure Energy Minerals’ CEO, discussed the data from the Company’s most recent wells, “Our latest drilling at the CVS Project has yielded thick sections of brine-saturated sediments and strong lithium values right to the bottom of the basin. These deeper brines are also very low in calcium and magnesium, which usually translates to favorable process chemistry. We continue to be enthusiastic about the grade, chemistry, and volume potential at depth on the CVS Project. Now that all the data are in, we are updating the drilling database and finalizing the resource model. These are the last inputs needed for the Preliminary Economic Assessment (PEA), and we look forward to completing the economic analysis and sharing the PEA result...