VANCOUVER, BC–(Marketwired – Nov 9, 2015) – Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTCQB: HMGLF) (the “Company” or “Pure Energy”) is pleased to announce it has received, through its project operator GeoXplor Corp, a Notice of Intent work permit from the Bureau of Land Management for the upcoming Phase Two exploration drilling program at its Clayton Valley South (“CVS”) Lithium Brine Project, located near Silver Peak, Nevada (the “Project”). The Company is permitted to drill three new wells that will target potential lithium brine bearing formations identified from the 2015 seismic reflection survey. The Company expects to drill these wells to depths of up to 500 meters. With the recent exercise of warrants, the Company is fully funded for this phase of exploration drilling to further delineate and expand upon its recently reported inferred resource (See Company news release dated July 28, 2015).
Pure Energy Minerals CEO, Robert Mintak commented, “We are pleased to have permits in hand for the next phase of drilling at CVS. We have begun mobilizing equipment and drill crews to the project in anticipation of collaring our first new well later this month. We look forward to integrating the results from these new wells into our existing lithium brine resources. We also expect to expand this phase of exploration through Q1 2016 by testing additional priority targets derived from our 2015 program.”
Look forward to further updates from the Project as field activity is initiated.
Qualified Person and Quality Control/Quality Assurance:
Gerhard Jacob, P.Geo, EFG (European Geologist), is a qualified person as defined by NI 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Jacob, P.Geo is not independent of the Company as he is a director.
About Pure Energy:
Pure Energy is a lithium-brine resource developer that is driven to become the lowest cost lithium supplier for the burgeoning North American lithium battery industry. Pure Energy is currently focused on the development of our prospective Clayton Valley South (“CVS”) Lithium Brine Project, which has the following key attributes:
- A large land position with excellent infrastructure in a first-class mining jurisdiction: Approximately 9,324 acres in three main claim groups in the southern half of Clayton Valley, Esmerelda County, Nevada
- Adjacent to the only producing lithium operation in the United States (Albermarle’s Silver Peak lithium brine mine)
- An inferred mineral resource of 816,000 metric tonnes of Lithium Carbonate Equivalent (LCE), reported in accordance with NI 43-101
- Preliminary economic studies underway to better understand the feasibility of modern environmentally responsible processing techniques to convert the CVS brines into high purity lithium products for new energy storage uses
On behalf of the Board of Directors
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.