January 26, 2021: Vancouver, BC, Canada; Nickel Rock Resources Inc. (“the Company”) TSXV: NICL, OTCQB: NIKLF is pleased to announce the expansion of its Clayton Valley, Esmeralda County, Nevada lithium property holdings by the staking of additional lithium exploration claims that add to its overall lithium exploration land package which is directly adjoining a western portion of neighbouring lithium producer Albemarle’s (NYSE: ALB) lithium evaporation ponds. The new ground adjoins the previous property position to the north and west and significantly expands the Company’s land position in the area. The new claim block consists of 41 lode claims covering about 847 acres (343 Ha.) bringing the Clayton Valley land package to 2,300 acres (930 Ha.). See location map here Clayton Valley Location Map.
The new lithium exploration claims are directed at potential lithium bearing clay deposits within lake sediments and ash beds reported in rough drillers logs of historic water quality monitoring wells on file with the Nevada State Engineers office (permit #66034A). The clay layers encountered in these wells are beneath gravel and alluvial cover and do not form obvious outcrops. Additionally, the claims cover likely concealed faults shown in geophysical studies conducted by Sierra Geothermal Power Corporation in the 2008- 2010, which the Company believes to be important in the formation of lithium-bearing clays.
Momentum for this new program stems from Albemarle’s recent announcement on January 7, 2021 that it will commence exploration of clay and evaluate technology that could accelerate the viability of lithium production from clay resources in the region. As reported in the Globe & Mail on January 11, 2021 about lithium giant Albemarle “As a leader in the lithium industry, our priority is to optimize our world-class resources and production. This includes Silver Peak, a site uniquely positioned as the only lithium-producing resource in the United States,” said Eric Norris, Albemarle President, Lithium. It has been widely reported that Albemarle is planning to double its lithium production by 2025 in Nevada at the Silver Peak mine by committing between US$30 million and US$50 million in additional investment on the property.
Currently known on the Nickel Rock claims are various geothermal features like tufa (hot spring limestone carbonate formations) and sinters (sedimentary rock formations primarily composed of silica precipitated from hot waters) representing locations of upwelling hydrothermal fluids that may play a role in the formation of lithium rich clay deposits. Clayton Valley has several known occurrences of lithium bearing clays and tuffs as documented by academic publications and recent drill results released by Cypress Minerals and others.
Robert Setter, President & CEO recently commented “It is apparent that lithium extraction in Clayton Valley from both lithium brine and lithium clays is fast becoming a reality and Nickel Rock needs to be part of that reality. In the months ahead, we will complete our first reconnaissance drilling campaign to evaluate the potential for lithium bearing brines as well as lithium bearing clays which is significant for our shareholders. We are excited to begin this journey on the property.”
About Clayton Valley Lithium Project
Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to be the source of the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.
Nickel Rock plans are to explore the combined property with geologic mapping, rock chip sampling, and exploratory drilling evaluations. Planning is underway and field work should commence within the next few weeks.
Alan Morris is a qualified person as defined by National Instrument 43-101 and has approved the technical information contained within this news release.
About Nickel Rock Resources Inc.
Nickel Rock Resources is a Canadian-based mineral exploration company with a highly focused effort on exploration for high-value battery metals required for the electric vehicle (EV) market. The company recently announced several acquisitions resulting in a significant property package prospective for awaruite, a naturally occurring nickel-iron alloy important in the manufacture of environmentally efficient batteries for the electric vehicle markets globally.
The Mount Sidney Williams Group consists of five claim blocks in four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite.
The Mitchell Range Group area claim consist of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel-cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The company is planning detailed exploration for the upcoming exploration season. The acquisition of the Hard Nickel group and the Nickel 100 claims are subject to TSX Venture Exchange approval.
On Behalf of the Board of Directors
Robert Setter, President & CEO
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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.