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Barisan Gold Acquires High Quality U.S. Lithium Exploration Properties & Announces Corporate Restructuring
VANCOUVER, BC / ACCESSWIRE / July 18, 2016 / Barisan Gold Corporation ( TSXV: BG) (the "C...
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"Barisan Gold Acquires High Quality U.S. Lithium Exploration Properties & Announces Corporate RestructuringVANCOUVER, BC / ACCESSWIRE / July 18, 2016 / Barisan Gold Corporation (TSXV: BG) (the \"Company\") is pleased to announce that it has entered into an Agreement (the \"Agreement\") with DG Resource Management (\"DGRM\") to acquire 100% interest in the Railroad Valley Lithium Property located in Nevada, and the Black Canyon Lithium Property located in Arizona.The Railroad Valley Lithium Property is located in south-central Nevada, and consists of 199 placer claims totaling 9,835 acres (3,980 hectares). The property fits the current geological model and understanding of lithium brine deposit occurrences (as defined by USGS Open File 2013-1006), and is considered analogous to the nearby Clayton Valley, which hosts the operating Silver Peak lithium mine owned by Albemarle Corp (NYSE-ALB). The Railroad Valley Property is situated within an enclosed, fault-bounded basin valley, centered by a dry lake bed (playa) with significant amounts of evapotranspiration. Documented soil samples collected on the surface of the playa, by the United Stated Geological Survey (USGS), contain elevated concentrations of over 500 ppm Li2O. The Black Canyon Lithium Property is located in central Arizona, and consists of two exploration permit applications totaling 360 hectares. The property covers a lithium clay exploration target that is adjacent to the Lyles Hectorite Deposit which is currently being mined for its clay by a local private company. The Lyles Hectorite Deposit is reported to have very high lithium content of 5,300 ppm Li2O, with anomalous lithium values documented to the north and south. Regional geological mapping and satellite photo analysis indicate that there is a high probability of the same lithium bearing clay unit on the Black Canyon Property. Management cautions that past results or discoveries on adjacent properties may not necessarily be indicative to the presence of mineralization on the Company's properties.The Company has retained Dahrouge Geological Consulting Ltd. (\"Dahrouge\") to manage the exploration of the Railroad Valley and Black Canyon properties. Dahrouge is a mineral exploration, consulting, and project management group based out of Edmonton, Alberta, Canada, with considerable experience in numerous jurisdictio...