Nickel Rock Resources Inc. Adds an Additional Lithium Project in Nevada to its Property Portfolio
Coquitlam, March 29, 2023 - Nickel Rock Resources Inc. (the "Company" or "Nickel Rock") (TSXV:NIC), (OTC:NICKLF), (FRA:NMK2) announces that the Company has staked 80 placer claims (MVS1-MVS80) covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada (the "Volt Canyon Lithium Property"). The Volt Canyon Lithium Property is located in Monitor Valley, Nevada, about 122 km north-northeast of Tonopah, Nevada. The center of the property is about 38.96° North Latitude, 116.70° West Longitude.
Geology and Mineralization
The Volt Canyon Lithium Property is sediment-hosted lithium clay targets. Access to the property is good and both future exploration and exploitation work could be conducted year-round. Minimal work has been conducted on the project to date, but surface samples reported in regional NURE data run up to 108 ppm Li near the claim block.
The origin of this lithium deposit is suspected to be similar to Clayton Valley clay deposits located about 180 km to the south. Both areas are reasonably well represented by the USGS preliminary deposit model, which describes the primary characteristics as light-colored, ash-rich, lacustrine (lake) rocks containing swelling clays.
Mr. Tim Fernback, Nickel Rock's President & CEO comments "Volt Canyon Lithium Project has been relatively unexplored to date, but the lithium exploration potential due to the geothermal activity in the project area is compelling. Our geological team has been assessing this overall area for several months for its lithium exploration potential. It is the Company's intention to rapidly evaluate the lithium potential of this project over the coming months. It is Nickel Rock's intent to complete an initial NI #43-101 Technical Report on the property in the near future".
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Qualified Person as Defined Under National Instrument 43-101
Alan J. Morris, CPG of Spring Creek, Nevada, a Qualified Person as defined under Nation Instrument 43-101 has reviewed and approved the technical aspects of this news release.
About Nickel Rock Resources Inc.
Nickel Rock Resources Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market. www.nickelrockresources.com
About the British Columbia, Nickel Projects
The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite. The Mitchell Range Group area claim consist of one claim block covering 8,659 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The Company has optioned out an 80% interest on certain mineral claims within the Hard Nickel 4 and Nickel 100 exploration project, to Surge Battery Metals Inc. (TSXV:NILI).
About Clayton Valley Lithium Project
The Company owns a 100% in 113 lithium lode and placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.
On Behalf of the Board of Directors
"Tim Fernback"
604-428-5690
Tim Fernback, President & 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.
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
