Plateau Energy Metals Inc. PLUUF

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[ATLEVAN]

Plateau Energy Metals – 152 m drilled intersection of high-grade Lithium at 0.70% Li2O, within broader 196 m interval of 0.63% Li2O as well as surface uranium mineralization from Platform 8

TORONTO, March 22, 2018 (GLOBE NEWSWIRE) -- Plateau Energy Metals Inc. (“Plateau” “PLU” or the "Company")(TSX VENTURE:PLU)(FRANKFURT:QG1)(OTCQB:PLUUF), a lithium and uranium development company, is pleased to announce results from recently completed inclined and vertical drill holes from Platform 8, collared ~200 m NW of Platform 1 and ~250 m SW of Platform 4 , at the Falchani project, located in the Chaccaconiza area of the Company’s Macusani Plateau Project in southeastern Peru.


Falchani Platform 8 Highlights
Inclined Hole drilled towards NE at -70° inclination (refer to previous Figure 1 - Falchani Outcrop Sampling Li Results & Drill Platform Location Map for location of Platform 8)

• High-grade lithium-rich tuff unit intersected 3,228 ppm Li (0.70% Li2O) over 152 m (143 m true thickness) from 83-235 m downhole (starting at ~78 m below surface)
• 196 m of 2,910 ppm Li (0.63% Li2O) in broader interval that includes Li-rich breccias above and below tuff unit from 68-264 m (End of Hole)
• Thin surface uranium mineralization intersected 2.5 m of 585 ppm U3O8 from 0-2.5 m downhole and 2.5 m of 827 ppm U3O8 from 39-41.5 m downhole
• Vertical Drill hole



• High-grade lithium-rich tuff unit intersected 3,675 ppm Li (0.79% Li2O) from 82-87.5 m (End of Hole)
• Surface uranium mineralization intersected 22.5 m of 490 ppm U3O8 from 0-22.5 m
• Including a higher grade uranium mineralized interval of 9 m of 1,074 ppm U3O8 from 0-9.0 m
• Ted O’Connor, CEO of Plateau Energy Metals, commented: “The Falchani project continues to deliver with excellent Platform 8 results intersecting the thickest interval of Li-rich tuff to date – at over 140 m true thickness and we continue to confirm the remarkably consistent average lithium grades of this unit in the 3,300 ppm Li (0.70% Li2O) range.
  
  We maintain our confidence that Falchani will have extremely positive potential production economics with scalable production levels to fill future Li demand growth or displace marginal, higher cost projects.
  
  We continue to drill Falchani within the established 2 km2 footprint with the goal of completing a maiden NI 43-101 mineral resource on the project before the end of the 2nd Quarter of this year.”
  
  Ian Stalker, Chairman of Plateau Energy Metals, commented: “Our new name ‘Plateau Energy Metals’ says it all. PLU is poised to be at the forefront on delivery of Lithium and Uranium to a large and growing market space, hopefully, just as demand peaks. Exciting times!!
  
  The consistency and true width of our high-grade Li intersections at the Falchani discovery are hard to ignore. The shallow depths, +100 m thicknesses, low stripping ratios, over an anticipated 1.2 km by 1.7 km mining area footprint, in relatively soft rock, lends itself to high productivity, low cost, mining practices and should result in a very competitive cost/tonne mined.
  
  Our bulk metallurgical sample is now on route to the ANSTO Laboratories Australia, a world leader in extractive lithium process technologies. ANSTO is an international consultancy that has been delivering innovative solutions to the minerals industry for more than 35 years. With the existing knowledge we have gained from test work already completed in Peru, along with the experience and skills ANSTO possesses, I am confident we can deliver from our high Li feed grade, an equally competitive cost/tonne recovered, with high Lithium recoveries to final product, to go along with our low mining cost expectation.
  
  Cooperation is also noted and appreciated, both from the local communities where we work, but also from the Peruvian Government and related Government Departments, all of whom have been very supportive of our efforts.”
  
  plateauuranium.com