Mesa Exploration Acquires Six Lithium Projects in Utah
Vancouver, British Columbia--(Newsfile Corp. - May 1, 2017) - Mesa Exploration Corp. (TSXV: MSA) (OTC: MSAJF) (the "Company" or "Mesa") is pleased to announce that it has acquired six lithium exploration projects in eastern Utah's Paradox Basin. The Projects total 2,356 acres consisting of Federal placer mining claims or State mineral leases. The Projects are all located in a semi-desert region with an average of over 300 days of sunshine per year, existing infrastructure, and year-round access to road and rail.
The projects share the following attributes:
Located within brine-hosting strata in the Paradox formation
Projects along the axis of the Paradox Basin where maximum lithium concentrations exist
Documented occurrences of lithium-enriched subsurface brines from several wells in the Paradox Basin
Over 200 wells in the region have encountered brine with lithium rarely analyzed by early operators
Concurrent with a zone containing greater than 40% dissolved solids in brine as per Utah Geological and Mineralogical Survey (Concentrated Subsurface Brines in the Moab Region, Utah, June 1965).
Target:
- Clastic zones above potash beds where regional brine aquifers are cut by high angle faults
- Faults are the hydrologic conduits
- The upper potash beds are the source of the lithium, bromine, boron and other brine minerals
- Clastic zones provide a fractured, porous aquifer
- Target is not related to oil and gas
The deposit model concept developed by Mesa postulates that some of the 8 potash bed/clastic bed interfaces represent entombed or fossil salars, an analog to the bulk of modern lithium production.
Work plan will
- Compile pertinent oil well logs with the focus being clastic units above potash beds, at least 8 such beds exist
- Augment existing published and internally generated structure contour maps
- Identify syncline and anticlinal features adjacent to high angle faulting
- Add additional claims or leases where required
- Determine if acquisition of existing seismic data is warranted
- Evaluate possibility of re-entry into one or more historic wells for modern analytical and hydrogeological analysis. An example being the Amerada Petroleum Green River No. 2; although no lithium analysis was performed 40% brine was encountered with 2,362 ppm boron (page 13 Concentrated Subsurface Brines in the Moab Region, Utah, June 1965).
Mesa's acquisition of these six projects is another step of positioning the Company to benefit from the long-term fundamentals of the growing lithium sector.
About Mesa Exploration:
Mesa is exploring a portfolio of lithium, uranium, potash, gold and silver mineral properties in the United States where it controls land holdings in proven mining districts with excellent access and infrastructure. Mesa currently has 18 million shares issued and outstanding. For further information please visit our website at www.MesaExploration.com.
ON BEHALF OF THE BOARD
MESA EXPLORATION CORP.
(signed) Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
For further information call:
Corporate Communications, 775-771-5219
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 of accuracy of this release.
