Nevada Energy Metals Acquires 100% of Teels Marsh West Lithium Project in Mineral County Nevada
February 22 2016 / TheNewswire / Vancouver, British Columbia - Nevada Energy Metals Inc. "the Company" TSX-V: BFF (OTC Pink: SSMLF) is pleased to announce it has acquired, by staking, 100 placer claims covering 200 acres (80.9 hectares) at Teels Marsh, Nevada. The property, called Teels Marsh West is highly prospective for Lithium brines and is located approximately 48 miles northwest of Clayton Valley and the Rockwood Lithium Mine, North America's only producing brine based Lithium mine supporting lithium production since 1967. Access to Teels Marsh is via dirt road, west of Highway 95 and northwest of Highway 360.
Teels Marsh West is a highly prospective Lithium exploration project, 100% owned without any royalties, located on the western part of a large evaporation pond, or playa (also known as a salar). Structural analysis reveals that Teels Marsh is bounded by faults and is tectonically active. Tectonic activities supply additional local permeability that could be provided by the faults that bound the graben and sub-basins.
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Shallow auger holes and drill-holes (<60 m) show that unconsolidated basin fill deposits include clays, clastic rocks silts and sands), evaporate deposits, and volcanic ash. With the exception of clays, these rocks represent potential sources of permeability.
Volcanic ash beds could host significant zones of permeability, due to the relative proximity of Teels Marsh to young volcanic centers at Mono Craters (near Mono Lake) and Long Valley, California, both located approximately 70 km to the southwest. These ash layers have proven to be the most productive brine sources in Clayton Valley (an active geothermal area).
The Bishop Tuff, which is believed to represent an important zone of permeability at Clayton Valley, (80 km to the SE of the only North American lithium brine deposit which is being mined by Rockwood Lithium Inc.) is likely present in the subsurface at Teels Marsh.
Direct evidence of an active geothermal system in the Teels Marsh area has recently been gathered by researchers at the Nevada Bureau of Mines and Geology, University of Nevada, Reno and the Desert Research Institute. This evidence comes from mapping anomalously high temperatures at a depth of only 2 meters below the basin surface: these temperatures are as high at 35C compared to background temperatures of approximately 16-18C. The temperature anomalies occur in two separate zones, both of which are adjacent to a Quaternary fault on the western margin of Teels Marsh basin. The two temperature anomalies have a combined strike length parallel to the fault of almost 4 km. A USGS geochemical survey conducted in 1976 reported lithium values as high as 850 ppm from samples taken from springs marginal to these fault structures.
The company's management and technical team are currently concluding their plans and budget for the 2016 exploration program.
About Nevada Energy Metals: http://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a Canadian Based exploration and development company who's primary listing is on the TSX Venture Exchange. The company's main focuses are brine based lithium exploration targets located in the mining friendly state of Nevada. As of the 13th of January the company has completed a $900,000 CAD secondary funding to carry out an exploration program on the area known as Alkali Lake and Alkali Flats. This lithium target is located in Esmeralda County, Nevada, just 12km from Rockwood Lithium, the only brine based lithium producer in North America. Nevada Energy Metals must complete a one-time payment of shares, cash payments over three years and complete certain exploration milestones to earn its 60% interest. Nevada Energy Metals has acquired, by staking, 100 placer claims covering 200 acres (80.9 hectares) at Teels Marsh, Nevada. The property, called Teels Marsh West is a highly prospective Lithium exploration project, 100% owned without any royalties, located on the western part of a large evaporation pond
Qualified Person:
The technical content of this news release has been reviewed and approved by
Ali Alizadeh, MSc.,PGeo, MBA, a director of the company and a Qualified Person under the provisions of National Instrument 43-101.
On Behalf of the Board of Directors
Harry Barr Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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