Channel applies for five Alberta lithium brine permits
2010-01-25 19:01 ET - News Release
Mr. Colin McAleenan reports
CHANNEL RESOURCES ADDS FIVE NEW LITHIUM BRINE PERMITS TO ALBERTA PORTFOLIO
Channel Resources Ltd. has applied for new mineral permits in five separate blocks in central Alberta. The new permits encompass 435 square kilometres in aggregate, located approximately 300 kilometres southeast of the company's Fox Creek lithium/potash brine project.
Data on lithium content published on Jan. 20, 2010, by the Alberta Geological Survey, on ground and formation water geochemistry, have enabled Channel to identify these new target aquifers related to Upper Devonian oil and gas pools. Lithium values within these aquifers range up to 140 parts per million in each of the five claim blocks.
Channel will further assess the potential for the new permits to host commercially viable concentrations of minerals in addition to lithium. The company will also evaluate the availability of infrastructure and energy sources in the region that would contribute to the development of a brine processing facility, as has been encountered at the Fox Creek project.
We seek Safe Harbor.