Business
Scotch Creek Ventures Inc. Acquires the 5,360 Acre Miranda Lithium Project in Nevada
VANCOUVER, BC / ACCESSWIRE / February 2, 2022 / Scotch Creek Ventures Inc. (the "Company") (CSE:SCV) (FSE:7S2) (OTC PINK:SCVFF) ("Scotch Creek" or the "Company"
About this update from Scotch Creek Ventures, Inc.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / February 2, 2022 / Scotch Creek Ventures Inc. (the \"Company\") (CSE:SCV) (FSE:7S2) (OTC PINK:SCVFF) (\"Scotch Creek\" or the \"Company\") is pleased to announce its acquisition of the Miranda lithium project (the \"project\") in Jackson Valley, Esmeralda County, Nevada. The Miranda project is located roughly 20 miles southeast of the famous Silver Peak lithium mine, the only producing lithium operation in North America. The Miranda lithium project consists of 268 placer claims spanning across roughly 5,360 Acres, bringing Scotch Creek Ventures' lithium footprint in Nevada to approximately 14,500 acres, firmly establishing the company as one of the largest lithium land positions in Nevada. Scotch Creek Ventures' CEO, Mr. David Ryan, commented \"We are very excited with this acquisition as we consider Miranda as a high potential lithium brine and sediment project. We are relatively early comers to this valley, and we believe that we have secured the section that follows the natural groundwater.\" Mr. Marvin, the company's Technical Director, and Qualified Person added \"Jackson Valley presents Scotch Creek with a large land position within a basin with exposed mudstone and ash rich rock units that are likely part of the upper portion of the regionally mineralized Esmeralda Formation. Evaporite and volcanic ash units in the Esmeralda Formation host world-class brine and claystone lithium resources in both the proximal Clayton Valley and in the Tonopah North exploration areas. The project has high exploration potential for the types of lithium resources being produced and developed within the region.\" The terms of this transaction award Scotch Creek Ventures with 100% ownership of the Miranda lithium project in exchange for the issuance of 3,100,000 million common shares of the company and a cash consideration of $120,000 USD. Miranda Lithium Project's Geological Highlights: Jackson Valley is a relatively closed, arid basin with a high evapotranspiration environment with similar geological characteristics as Clayton Valley. During the Plio-Pleistocene, and as recent as the late Quaternary interglacial periods, Jackson Valley contained large lakes that at some point overtopped the south rim near Mount Jackson and spilled over into the adjacent Lida Valley through Jackson Wash. The general groundwater f...