VANCOUVER, British Columbia, August 17, 2022 (GLOBE NEWSWIRE) — Clear Sky Lithium Co., Ltd. (CSE: POWR) (FRA: K4A / WKN: A3DM2W) (OTC: CSKYF) (“fine weather” or “Company”), a mineral exploration and development company focused on lithium deposits in America to support domestic demand, has made the first option payment and equity in its recently acquired Halo project, located along the Lithium Trend in Southern Nevada. We are pleased to announce that we have completed the issuance of the Tonopah Mining District.
The company’s CEO, Patrick Morris, said: He sees a lot of potential in this project and has already started planning site visits and work programs. The acquisition will allow us to enter the proverbial ground floor in a region where lithium has already been proven to exist, and we plan to build on that foundation. ”
The Halo contract includes an initial payment of US$250,000, a stock issuance of 1,865,269 shares of common stock, and a reimbursement of up to US$100,000 for costs incurred in the project. To date, US$76,000 has been reimbursed for geological surveys, piling costs and Land Management fees.
The Halo Project comprises 98 claims totaling 819 hectares (2,024 acres) and is located 6 km northwest of Tonopah in the Big Smoky Valley on the border of Nye and Esmeralda counties. The project is south of American Lithium’s (LI; MKT Cap – US$538 million) TLC project and north of American Battery Technology’s (ABML; MKT Cap – US$502 million) Tonopah Flats project. A regional center near Tonopah provides easy access to skilled labor, electricity, and transportation logistics.
Figure 1: Site location map
Regional optimism is fueled by American Lithium’s TLC project, which currently hosts a Lithium Carbonate Equivalent (LCE) Measured Resource of 3.35 million tons, an LCE Indicated Resource of 2.02 million tons, and an LCE Inferred Resource of 1.76 million tons. and recently crossed the best result to date of 2,900 ppm lithium. Average 1,550 ppm at 50.3m. Additional positive news was recently stated by American Battery Technologies Chief Resources Officer:
The project site is partially covered by a flat alluvial runoff surface. Lithium-bearing rocks within the project area are referred to as tuff and other young Tertiary sedimentary rocks in digital geological models generated by the Nevada Mining Authority. This Pliocene to Miocene unit is thought to have a strong volcanic component. In Esmeralda County, this Miocene era unit he called Siebert Tuff. It corresponds to units Ts3 and Tts on the 1978 state map and is present in every county in Nevada.
Figure 2: Halo properties as seen from the US Lithium TLC project (note – the drilling rig is not on Halo project land)
Clear Sky is committed to becoming the leading US developer of lithium for the US supply chain. Together with Eli’s assets, which are based in central Nevada, the company has the potential to adapt to new processing technologies aimed at advancing toward development and eventual commercial-stage activity in the region. We are committed to expanding our asset base of lithium-bearing assets.
Clear Sky Lithium advises the public that, as part of its disclosure obligations as a public issuer, all materials and regulatory filings are posted at www.sedar.com. He also invites the public to visit his website (www.clearskylithium.com) and sign up for “News Alerts” to receive future news releases and related company information. Also, be sure to check out the video that is now live on our website.
On behalf of the Board of Directors,
Chief executive officer
Clear Sky Lithium Co., Ltd.
About Clear Sky Lithium Corp.(CSE: POWR) (FRA: K4A / WKN: A3DM2W) (OTC: CSKYF)
Clear Sky Lithium is an exploration and development company dedicated to developing North American lithium deposits to support domestic demand. The Company now owns his ELi and Halo properties in Nevada. The company is also focused on developing claystone extraction and processing technologies aimed at achieving scalable efficiencies across the value chain in a sustainable manner. For more information, please visit www.clearskylithium.com to watch the video.
Forward-Looking Information Disclaimer
To the extent that this news release is not historical fact, this news release contains statements and information that may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may include financial and other projections and statements regarding future plans, objectives or economic performance or the assumptions underlying any of the foregoing. In some cases, forward-looking statements are “may,” “would,” “could,” “will,” “likely,” “exclude,” and “expect.” can be identified by terms such as , “believe” and “intend”. , “plans”, “forecasts”, “plans”, “estimates”, “forecasts” or other similar expressions relating to the negative of these or matters that are not historical facts. Examples of such statements include, but are not limited to, our plans for site visits and work programs for Halo Properties.
Forward-looking information is based on assumptions made in light of management’s experience, trends, perceptions of current conditions, expected developments and other factors that management believes to be relevant and reasonable. , based on estimates, analyses, and opinions. As of the date such statements are made, they may prove to be inaccurate. Factors and assumptions include, but are not limited to, key personnel and qualified employees who continue to be involved with the Company. our ability to secure additional funding on reasonable terms; competitive conditions in the sectors in which we operate; Laws and Amendments Applicable to Us.
Forward-looking information involves known and unknown risks, uncertainties and the Company’s actual results, performance or performance may differ materially from future results, performance or performance expressed or implied by forward-looking information. Includes other factors that may vary. risks associated with our future business plans; The risk that we may not be able to secure key personnel; the risk that the Company may be unable to secure financing on reasonable terms or at all, and all other matters described under the heading “Risk Factors” in the Company’s Definitive Long-Term Prospectus dated May 31, 2022; risk. Accordingly, readers should not place undue reliance on such forward-looking information. In addition, forward-looking information speaks only as of the date such statements are made. New factors emerge from time to time and it is not possible for our management to predict all such factors and the extent to which each such factor, or factor or combination of factors, will affect our business. It is impossible to assess in advance who will be affected. Actual results may differ materially from those contained in the forward-looking information. We do not update forward-looking information to reflect information or events after the date they were made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws. shall not be obligated to do so.
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Clear Sky Lithium Co., Ltd.
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Clear Sky advances Halo project, makes first option payment, The Canadian Business Journal
Source link Clear Sky advances Halo project, makes first option payment, The Canadian Business Journal