(TheNewswire)
VANCOUVER, BC / TheNewswire / 07 Feb., 2017 – Pure
Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTCQB: PEMIF) (the “Company” or “Pure Energy”) is
pleased to announce that exploration borehole CV-8 has been successfully drilled to a total depth of 3,194 ft (974
m) below ground level at its Clayton Valley South (“CVS”) Lithium Brine Project, near Silver Peak, Nevada (the “Project”).
Boart Longyear completed the initial borehole using a variety of techniques, but employed
HQ diamond core drilling from approximately 528 ft (161 m) to final depth at 3,194 ft (974 m). Core recovery was generally
excellent (averaging more than 90%) down to a depth of approximately 2,630 ft (802 m), where core recovery decreased when the
lithology changed to a much coarser grained unit. The drillers are currently reaming the borehole to a larger diameter of 9.75 in
(25 cm) to allow for installation of temporary well casing.
Hydrogeologists collected multiple representative sections of core from potential aquifers for
testing of physical and hydrogeological properties at accredited laboratories. The team has also conducted preliminary downhole
well logging to assess various formational properties before proceeding with well construction. Initial observations of formational
conductivity, lithology, and porosity, are encouraging and consistent with other productive lithium-brine exploration boreholes
drilled on the Project.
Based on the favorable geology and preliminary indications of brine hosting potential, Pure Energy
has elected to convert the borehole into a temporary lithium exploration well. After the temporary well casing is installed and
well development is complete (using air-lifting to remove drilling fluids from the well), the Company expects to conduct additional
detailed downhole geophysical logs to fully investigate fluid and geological properties. Detailed sampling of brine from the well
will follow, along with pumping tests, since all necessary authorizations from the State are already in hand. These results are
expected in mid to late February. The upcoming Preliminary Economic Assessment (PEA) will include a full discussion and
interpretation of the data from CV-8.
Patrick Highsmith, Pure Energy Minerals CEO commented, “Our phase 3 drilling
program at the CVS Project is finishing strong with what we believe will be the deepest well yet drilled in Clayton Valley. Not
only have we improved our understanding of the basal geology of the basin, but we have also added an important data point on the
western side of the resource. As we complete the upcoming geophysical logs and pumping tests, the team will deliver a lot of
valuable new information from CV-7 and CV-8. We look forward to incorporating these new data into the resource update and
PEA.”
Quality Assurance and Quality Control
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702), is a qualified person as
defined by NI 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this
news release. Mr. Highsmith is not independent of the Company as he is an officer and director.
About Pure Energy Minerals Ltd.
Pure Energy is a lithium resource developer that is driven to become a low-cost supplier for the
burgeoning lithium battery industry. The Company is currently focused on the development of the CVS Lithium Brine Project and
the adjoining Glory Lithium Clay Project in Clayton Valley, Nevada. Pure Energy also recently announced the acquisition the of a
purchase option on a major new lithium brine project in the Lithium Triangle of South America, the Terra Cotta Project (TCP).
The TCP is located on Pocitos Salar in Salta, Argentina, where it enjoys some of the best infrastructure and access of any
lithium brine exploration project in the country. Execution of the definitive agreement concerning the Terra Cotta purchase option
is expected during Q1 of 2017.
Pure Energy has developed core strengths in innovative development and processing technologies for
lithium brines and lithium mineral deposits. The Company’s key attributes and activities include:
-
-Generating positive results on a large land position with excellent infrastructure in a
first-class mining jurisdiction: approx. 11,000 acres in four main claim groups in Clayton Valley, Esmeralda County,
Nevada;
-The only lithium brine resource in North America except for its neighbor, which is the only
producing lithium operation in the United States (Albemarle’s Silver Peak lithium brine mine);
-An inferred mineral resource containing approximately 816,000 metric tonnes of Lithium
Carbonate Equivalent (LCE) at an average grade of approximately 102 mg/L lithium, reported in accordance with NI 43-101 (see
July 2015 Inferred Resource Report);
-An advanced program of testing the efficacy and economics of modern environmentally-responsible
processing technologies to convert the CVS brines into high purity lithium products for new energy storage uses;
-A new early stage exploration program on the 13,000 hectare Terra Cotta Project (TCP), located
on Pocitos Salar in Salta Province; and
-An active business development program, applying its expertise to the evaluation of new lithium
targets around the world.
On behalf of the Board of Directors,
“Patrick Highsmith”
Chief Executive Officer
CONTACT:
Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: info@pureenergyminerals.com
Telephone – 604 608 6611, ext 5
Forward Looking Statements: The information in this news release contains forward looking statements
that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ
materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in
world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and
changes to regulations affecting the mining industry. Forward-looking statements in this release may include statements regarding
mineral processing, adaptation of test work to larger scale and/or future operational scales, estimates of reduced future capital
and operating expenses, delivery of a preliminary economic assessment, future exploration programs,
operation plans, geological interpretations, and mineral tenure issues. Although we believe the expectations reflected in our
forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity,
performance or achievements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
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