(via Thenewswire.ca)
March 3rd, 2016 / TheNewswire / Toronto, Ontario - Matica Enterprises Inc. (MMJ - CSE) (39N - Frankfurt) (MQPXF - OTC) ("Matica" or the "Company") is pleased to announce that the Company has recently sampled its Clayton Valley lithium brine project. The property known as the McGee claims totalling approximately 1,140 acres is located in the south-eastern Clayton Valley, Nevada. The McGee claims are bordered on the west by Pure Energy's Clayton Valley Project and on the north by Cypress Development's Clayton Valley Lithium Brine Project. Nevada's Clayton Valley is the site of the only lithium brine production operation in North America, the Silver Peak lithium mine, which has been in production since 1966.
This second round of surface sampling of outcropping claystones on the McGee property has been completed. Please see attached map for sample locations. An area of approximately 1.5 km by 1.0 km has now been covered with variably spaced grab sampling during the initial phase of surface exploration of the property. Reconnaissance level lithologic mapping shows that a complexly interbedded sequence of well indurated claystones and poorly indurated volcanic ash units are exposed on the claims. We interpret that this sequence is equivalent to the stratigraphy being described by Pure Energy in the subsurface to the west of the claims. Specifically, local mutli-metre thick ash beds are interpreted to be those comprising the main brine aquifers in the shallow subsurface of the basin.
Matica's neighbors in the Clayton Valley have recently announced completion of deep drill holes immediately west of the McGee claims. While Matica is still at a very early stage of exploration and are only beginning to understand the stratigraphy of the basin fill evaporate and volcanic ash units, it seems reasonable to expect that the outcropping stratigraphy at the McGee claims will persist to depths below the water table. We view this initial evaluation of property geology to be highly favorable for the potential existence of ash unit hosted brines directly beneath the outcropping units in the central and eastern portions of the property.
In addition, the western portion of the property is gravel covered and in part adjoins directly with lands being explored by our western neighbor, Pure Energy. The existence of down to west normal faults appears well established in literature discussing the eastern margin of the Clayton Valley. This style of extensional deformation is ubiquitous in basins of recent age in Nevada. Matica intends to explore the subsurface of the slope wash gravel covered western portion of the property with geophysics and eventual drilling to target the highly favorable stratigraphy seen in the central portion of the property. Down dropping of this stratigraphy along normal faults is likely to have put the ash units below the water table and as such would represent typical Clayton Valley brine aquifer targets.
Matica continues to evaluate additional graphite and lithium projects for acquisition.
For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
Boris Ziger
Boris Ziger, CEO & Chairman
The Company's public filings are available for review at www.sedar.com and www.thecse.com.
For further information, please contact Boris Ziger, Chief Executive Officer, at:
Telephone: 416-304-9935
E-mail: info@maticaenterprises.com
Website: www.maticaenterprises.com
Disclaimer for Forward-Looking Information
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
This news release contains statements about the Company's information that will be made available on the S&P Capital IQ Corporation Records Listing Program and the business of Matica that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbor.
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