Equitorial's Gravity Results Inspire Acquisition of Entire Tule Valley Lithium Basin
Vancouver, May 24, 2017 - Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) ("Equitorial" or "Company") is pleased to report the completion of a ground geophysics survey on its 100% owned Tule Valley Lithium project in Utah.Highlights
- The gravity results demonstrate that the Tule Valley fill has a depth of over 500 meters in the western portion of the property. To view the gravity results, please visit: http://equitorialexploration.com/gallery/
- The valley fill deepens further than 500 meters heading east from the current claim blocks.
- To maximize the potential for the Company, Equitorial has acquired an additional 135 claims totaling 2,700 acres. The Company has now staked the entire Tule Valley Brine Property for a total holding of 6,900 acres. To view the claim extension, please visit: http://equitorialexploration.com/gallery/
This season Equitorial will conduct a drill program to test lithium concentrations in brine at different depths and locations in the Tule Valley Basin.
Gravity Survey Methodology
The survey was completed by Zonge International Inc. during April 2017. A total of 511 unique grid stations were acquired covering a grid area of approximately 20 km2 with 200 meter station spacing. Field gravity data was merged with 52 regional public domain gravity stations. Elevations were obtained from real-time kinematic and post-processed GPS.
Tule Valley Lithium Brine Project
The property comprises 6,900 acres and is located approximately 190 km south west of Salt Lake City, Utah and is road accessible.
Tule Valley is a closed basin. In a closed basin the surface water and groundwater flowing into the basin have no escape route, and evaporate at surface leaving behind minerals dissolved in the resulting brines and evaporation pools. Tule Valley is mostly a dry lake bed (playa), but it hosts active evaporation pools along its western margin.
In August, 2016, 4 water samples and 13 soil samples were collected from the Tule property - most at claim post sites located on exposed playa. The samples of actively evaporating briny surface muds are all anomalous in Lithium (over 0.01% Li) with samples as high as 200 ppm Li. Each anomalous sample is very wet, saturated with salty brine and contains salt and/or gypsum crystals.
Tule Valley is located within an area which hosts several lithium-bearing hard rock properties which may have provided lithium to groundwaters.
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- 20 km to the north is the Redhill Resources Corp.'s Honey Comb beryllium-rubidium-lithium-rare-earth project. Redhill's NI 43-101 (Sept. 30, 2011) reports that initial surface sampling provided assays of 1,500 to 1,700 parts per million lithium.
- 60 km to the southeast is Crystal Peak Minerals Inc.'s potash-lithium-magnesium brine project. Crystal Peak's NI 43-101 (Nov. 18, 2013) reports lithium values in solution (brine) range from 50 to 200 milligrams/litre. Crystal Peak is an evaporite basin similar to Tule Valley.
- 30 km to the northeast is Materion Corp.'s Spor Mountain beryllium mine
The Tule Valley prospect may be similar to that of Clayton Valley, Nevada, as they are both closed basins with signs of active and historic evaporation. The Tule Valley project requires further exploration, including geophysics and drilling, to evaluate potential for a mass lithium brine deposit.
Technology
The company has entered into a number of discussions with parties which have had extensive experience with, or whose main operating business includes, the separation of metals and physical particulate from water, recycled water, and oil and gas waste water. The company hopes to conclude an agreement to test these processes and methods for commercial-scale application.
About Equitorial Exploration Corp
Equitorial is aggressively developing three significant, 100%-owned, high-potential, lithium projects in North America.
The Little Nahanni Pegmatite Group (LNPG) is a 43-101 compliant, hard rock, lithium property in the NWT. Both the Tule and Gerlach Lithium Brine Projects are located in lithium-rich Utah and Nevada within easy reach of the Tesla Gigafactory #1.
All three projects have demonstrated highly encouraging grades and Equitorial intends to actively explore these Lithium opportunities.
Phil van Angeren, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical mining information provided in this release.
For more information please visit: http://equitorialexploration.com/
On behalf of the Board of Directors
Equitorial Exploration Corp.
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule, Gerlach and Little Nahanni Pegmatite Project: statements pertaining to the ability of Equitorial Exploration Corp.("EXX"); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for EXX to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by EXX in light of its experience and perception of current and expected future developments, as well as other factors that EXX believes are appropriate in the circumstances. Many factors could cause EXX's results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.
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