–Highest lithium value intersected on the ELi property to-date
VANCOUVER, British Columbia, Aug. 26, 2022 (GLOBE NEWSWIRE) — Clear Sky Lithium Corp. (CSE: POWR) (FRA: K4A / WKN: A3DM2W) (“Clear Sky” or the “Company”), a mineral exploration and development company focused on American lithium deposits to support domestic demand, is pleased to report sampling results for its 100%-owned ELi claystone lithium project located in central Nevada.
Financial Post Top Stories
Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300
As part of the Company’s initial efforts, surficial grab samples (n=4) were collected during a trip to the ELi site during Q2, 2022. The sampling focused on areas with limited alluvial cover that corresponded to claystone exposure on surface. Samples were collected using a combination of hand tools down to approximately 30cm in depth and were recorded in the QField app on an android tablet with a built in GPS. Samples field values were logged for location information of easting, northing, and elevation, as well as documentation of physical attributes as appropriate for each sample and location. The samples were subsequently securely transported to American Assay Labs facility in Reno, Nevada for analysis1. Results are presented in Table 1 and Figure 1.
Table 1: ELi Grab Sample Results – American Assay Labs
|Sample ID||Easting||Northing||UTM Zone||Assay Method||Li ppm1|
The recent fieldwork program follows up on the encouraging samples (n=150) previously released (June 15, 2022) that included values ranging from 45-801ppm lithium with an average grade of 292ppm as well as the historic sampling program which returned results ranging from 288-970ppm lithium with an average grade of 667ppm1 and provided the impetus to advance the project as Clear Sky’s candidate for entry into the lithium sector. See Figure 1 for an overview of sampling at the Eli project.
Company CEO Patrick Morris notes, “Our initial efforts at the ELi property are presenting strong early results which are highly encouraging. The Clear Sky technical team is already integrating these results for future program planning. We look forward to continuing to advance the ELi property using a toolbox approach that consists of a variety of different exploration and processing techniques with the ultimate goal of building value in the Nevada lithium sector.”
Clear Sky Lithium is excited to be in Nevada, the heart of America’s lithium discovery region. Within the state there are multiple advanced stage lithium projects, including the only operating lithium mine in the USA. The USGS first publication on sedimentary-hosted lithium (claystone lithium) wasn’t until 1991, making it one of the newer deposit types in exploration.
Figure 1 – ELi Project Sampling Overview
The ELi property was first sampled in 2019 due to its geological setting in a sub-horizontal sequence of lacustrine, tuffaceous mudstones, claystones and siltstones deposited in the Little Smokey Valley. This sequence appears to be floored by more conglomeritic, tuffaceous rocks and capped by younger felsic volcanic rocks. This broad, north-trending valley formed in a closed basin near the southwestern margin of the Basin and Range physiographic province of Central Nevada.
The lithium-bearing rocks within the project area are referred to as tuffaceous horizons and other young tertiary sedimentary rocks in digital geologic models generated by the Nevada Bureau of Mines. This unit is believed to have a strong volcanic component. In northern Nye County, the unit is referred to as the Horse Camp Formation which correlates with the Esmeralda Formation in Mineral and Esmeralda Counties. It has also been correlated with older lake beds in southern Nye, Lincoln, Clark and Humboldt counties. It corresponds to units Ts3 and Tts from the 1978 State map and is present in all counties of Nevada.
Unlike brine-based lithium projects, sedimentary or “claystone” deposits offer advantages in terms of environmental impact by utilizing non-evaporative extraction methods resulting in a reduction in water usage in arid desert conditions. With the advent of new extraction and processing technologies combined with an upsurge of interest, activity, and capital investment in regional claystone mining, Clear Sky’s processing technology focused strategic goal aligns with the company’s comprehensive exploration and development plans.
Clear Sky Lithium advises the public that as part of its disclosure obligations as a public issuer, all material and regulatory filings can be found on www.sedar.com. We also invite the public to visit our website at www.clearskylithium.com and to sign up to our “news alerts” to be advised of future news releases and related company information. Please also ensure you watch our video which is now available on the website.
On Behalf of The Board of Directors,
Chief Executive Officer
Clear Sky Lithium Corp.
Anna Hicken, P.Geo., of Geomax Consulting, and consultant to the Company is the Qualified Person as defined in NI 43-101, who has reviewed and approved the scientific and technical content of the press release.
1.All sampling completed by Clear Sky within the exploration program are subject to a company standard of internal quality control and quality assurance programs which include the insertion of certified reference materials, blank materials and pulp duplicate analysis. All samples are sent to American Assay Labs located in Reno, Nevada where they are processed for lithium analysis by ICP-5AM48. American Assay Labs quality systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.
Surface claystone samples are selective in nature and may not represent the true grade or style of mineralization across the entire property.
About Clear Sky Lithium Corp. (CSE: POWR) (FRA: K4A / WKN: A3DM2W)
Clear Sky Lithium is an exploration and development company dedicated to the advancement of North American lithium deposits to support domestic demand. The Company currently holds interests on the ELi and Halo properties in Nevada. The Company is also focusing on the development of claystone extraction and processing technologies aimed at delivering scalable efficiencies across the value chain in a sustainable manner. Find out more visit www.clearskylithium.com and watch our video.
Forward Looking Information Disclaimer
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, global trends towards clean energy, projected growth of demand for lithium and domestic resource production, technological advancements increasing the viability of lithium-ion batteries, the Company’s ability to develop new lithium extraction and processing techniques, the Company’s plan to further strategic exploration on the Eli property, and the Company’s plans to engage key partnerships across relevant fields of academia, as well as industry experts, commercial research and development labs, and end-users to evaluate the highest value clean-tech extraction and processing techniques.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the sector in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s final long form prospectus dated May 31, 2022, under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE has neither approved nor disapproved the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Clear Sky Lithium Corp.
Email: [email protected]
Phone: +1 (778) 383-7240