Northern Iron Corp Realigns Board to take Advantage of Lithium Acquisitions in Nevada and Arizona
Northern Iron Corp. REALIGNS BOARD TO TAKE ADVANTAGE OF LITHIUM ACQUISITIONS IN NEVADA AND ARIZONA
Vancouver, BC / TheNewswire / September 19 2016 - Northern Iron Corp. ("Northern Iron" or the "Company") (TSX-V: NFE) (FRANKFURT: N8I) today announced that Alberto Hassan will relinquish the position of chairman but remain on the board. Basil Botha, will remain as President & CEO until such time as James Walker assumes the position of Chief Executive Officer on October 1, 2016. At that time Basil Botha will become Executive Chairman.
Basil Botha, President & CEO of the Company said; "With my 40 years of experience in mining both hard rock spodumene to produce lithium for the glass industry in Asia and Europe, and more recently as past chairman of Lithium Americas, a late stage lithium brines project in Argentina, there is a great deal of synergy, with what James and I bring to the table. As President, James will leverage his considerable project management skills and engineering experience, to bring this lithium project to life. Added to this, his nuclear experience with lithium and the applications of its different isotopes in the nuclear power business, gives Northern Iron a unique perspective on this rapidly developing industry. This is truly an exciting time for the company as we take advantage of a rapidly growing market, with significant supply constraints and move through exploration and development to commercial production."
With immediate effect, Felipe Carvalho has resigned his directorship and on behalf of the board of directors, we thank him for his contributions and wish him well in his future endeavours.
Mr. Walker's appointment is subject to clearance and approval by the Toronto Stock Exchange.
About Northern Iron Corp.
Northern Iron Corp. has 3 highly prospective lithium properties in Nevada and Arizona.
Jackpot Lake -Moapa Valley, Nevada
-
-100% owned -2800 acres - 140 claims;
-35 km NE of Las Vegas;
-1976 USGS completed 129 core samples;
-Spectrographic and atomic-absorption analyses of 135 stream sediment
samples confirmed potential for lithium mineral deposits;
-
-Highest Lithium value was 550ppm, average 175 ppm.
Wilcox Playa -Arizona
-
-1400 acres on shore of Wilcox Playa - Dry lake bed
-In 1976 USGS identified this area as one of the most prospective locations for lithium brines and highly analogous to Clayton Valley
-USGS has identified a 22 sq. mile anomaly with high electrical conductivity, interpreted as subsurface brine field with no hydrological outlet.
Little Rock Lithium Target - Yavapai County - Arizona
-
-High grade, lithium rich lacustrine clay
-Analogous to Hector Mine and Kramer Mine, Barstow California.
-Target is 2500 metres along strike ~ 20 metres thick
-Identified via electromagnetic survey in 2007
-
-Large, highly electrically conductive body
-Clay-altered rhyolite tuff.
-Grab sample 172 ppm Li
-
-Clayton Valley sediments are between 73 and 220ppm
-
Northern Iron is also the owner of five iron (magnetite) properties in the Red Lake District in the Province of Ontario. The Red Lake District is an established mining region where Northern Iron has two near term development projects, the past producing Griffith mine and the Karas property.
Timothy Marsh PHD, P. Eng QP prepared the disclosures and reports related to these projects
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For further information, please contact:
Basil Botha
President & CEO
Tel: 604-566-8570
Fax: 604-602-9868
Email: bbotha@northernironcorp.com
Website: www.northernironcorp.com
For up to the minute news, industry analysis and feedback follow us on Facebook, Twitter, LinkedIn, Google Plus and YouTube.
Copyright (c) 2016 TheNewswire - All rights reserved.
