EMP Metals Corp. Acquires Second Wellbore At Mansur For Lithium Testing
VANCOUVER, Sept. 27, 2022 - EMP Metals Corp. (CSE: EMPS) (OTC: EMPPF) ("EMP Metals" or the "Company") is pleased to announce that Hub City Lithium Corp. ("HCL"), a subsidiary company to EMP, has acquired an additional wellbore in its Mansur Permit Area. The new well, 101/14-36-008-13 W2M ("Second Test Well"), is located at the Mansur Permit Area of southeast Saskatchewan and is approximately half a mile from the Company's first test well in the Mansur which confirmed concentrations of up to 96.3 mg/l in the Duperow zone. The Second Test Well has been acquired for no consideration and the assumption of future abandonment and reclamation costs, which aligns with the Company's highly cost-effective strategy of testing for lithium in existing infrastructure.
A multi-zone perf test will be performed on the Second Test Well, testing the inflow potential and lithium concentrations in the target Duperow zone. Testing is expected to commence in or around Q4 2022.
Rob Gamley, CEO of EMP, commented, "Acquiring this Second Test Well at Mansur is a significant development for EMP. We are thrilled to return to the property to build upon the success of our first well. We remain excited about the potential to generate positive testing results and grow our lithium resource."
The Mansur Permit Area has existing infrastructure with greater than fifty oil wellbores drilled through the target formation. This allows for potential cost savings on future development and allows the Company to map and target certain lands with lithium potential. This existing infrastructure is expected to lower the ultimate cost of early-stage development of the resource.
The Mansur Permit Area, Tyvan Permit Area, and Viewfield Permit Area now collectively cover an area extending 40 miles north and 40 miles east of the City of Weyburn. The existing oil and gas infrastructure within the area includes over a hundred oil wells drilled through the target formation that can be used for geological mapping, future lithium testing, and development. In addition to the existing oil field infrastructure and labour pool, the economics of the project area are enhanced by the presence of existing infrastructure, including but not limited to: paved highways, rail lines, existing three phase electrical supply, and access to natural gas.
The lithium brine properties consist of 37 permits totalling 212,633 acres (86,050 hectares) of Subsurface Crown Mineral Dispositions in the Williston basin of Southern Saskatchewan.
EMP Metals holds 75% of the joint venture with ROK Resources Inc. (ROK.V) holding the balance.
The technical content of this news release has been reviewed and approved by Greg Bronson, P. Geo., a qualified person for the purpose of National Instrument 43-101.
EMP Metals is a Canadian-based exploration company focused on the acquisition and exploration of mineral projects with significant development potential. Its current portfolio of lithium brine properties consists of 37 permits totaling 212,633 acres (86,050 hectares) of Subsurface Crown Mineral Dispositions in the Williston basin of Southern Saskatchewan. Brine sampling of a vertical wellbore located on one of the properties returned lithium concentrations in the Duperow formation up to 96.3 mg/l. For more information, please go to the Company's website at www.empmetals.com.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. EMP Metals cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond EMP Metals' control. Such factors include, among other things: risks and uncertainties relating to EMP.
Metals' limited operating history, ability to obtain sufficient financing to carry out its exploration and development objectives on its mineral properties, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, EMP Metals undertakes no obligation to publicly update or revise forward-looking information.
Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE EMP Metals Corp.
Contact
Corporate Inquiries: Rob Gamley, President & CEO, Phone: 604-689-7422, Email: info@empmetals.com
