Apex Begins Lithium Brine Exploration Program at the Lithium Creek Project in Nevada
Vancouver - Apex Resources Inc. ("Apex" or the "Company") (TSXV: APX) has commenced lithium brine exploration at the newly acquired Lithium Creek Project (the "Project") in Churchill County, Nevada, USA. Apex's primary objective is to identify and define drill targets with high potential to penetrate lithium brine bearing aquifers. Apex will conduct modern exploration for lithium/boron brines which have not been attempted in this region of Nevada, where the prospects indicate a high potential for a new discovery of untapped lithium reserves. As part of the current exploration program, Apex will complete the following:
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Geophysical magnetotelluric ("MT") surveys of the Project to examine resistivity footprints of potential shallow and deep brine waters, in addition to a gravity survey to examine the potential geometry of the basin and depth to bedrock. A seismic survey may also be completed to identify potential faults influencing lithium brines in the area.
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Surface water and shallow groundwater sampling, with a geochemical analysis program focusing on identifying geochemical signatures of lithium bearing brines in the district.
About the Lithium Creek Project
The Project consists of approximately 4,720 acres of active mining claims in west-central Nevada. The Project is in a district which historically was mined for salt products, with commercialization first occurring in 1871. Two discoveries of lithium and boron in brine waters were recently made on the Project in two prospect areas close together each displaying brines with lithium in anomalous concentrations in flowing surface water and in shallow groundwater.
Laboratory analyses indicate total lithium concentrations range from approximately 13 to 22 mg/L in Lithium Creek, which flows through the Project. Lithium brines were discovered in higher concentrations ranging from 210 to 330 mg/L in the historic evaporation vats adjacent to the Project's active mining claims. Boron is also present at concentrations from 220 to 400 mg/L in the evaporation vats. Total lithium concentration analysed from samples collected in historic wells and hand dug pits in the area ranged from 34 to 56 mg/L. Samples from the historic wells and hand dug pits strongly indicate potential for a shallow lithium bearing groundwater system to exists at the Project, with multiple similarities to the shallow pre-mining brine aquifer in Clayton Valley, Nevada.
The Project is located approximately 70 km east of Reno, Nevada via Interstate Highway I-80, and within 30 minutes of the Nevada lithium battery hub of the Tahoe-Reno Industrial Center and Lilac Solution's manufacturing facility located in Fernley, Nevada. The Project is ideally located and supported by extensive infrastructure to include existing roads, railroad access, fiber optics and geothermal power.
The Project is further described in the technical report with an effective date of March 8, 2024 and entitled "NI 43-101 Technical Report Describing The Lithium Creek Project, Churchill County, NV USA" (the "Technical Report") which has been filed on SEDAR+ and can be viewed at www.sedarplus.ca under Apex's profile. A copy of the Technical Report is also available on the Company's website at www.apxresources.com.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Geoffrey Baldwin, PG, SME-RM, who is independent of Apex and who acts as Apex's Qualified Person.
On Behalf of the Board of Directors of
Jay Roberge,
President.
Ph. +1(778)895-0247 or info@apxresources.com website: www.apxresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Apex's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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