2016-12-12 09:29 ET - News Release
Mr. Darryl Jones reports
Voltaic Minerals Corp. has confirmed historic brine flow from five oil and gas production wells on its 100-per-cent-owned Green Energy lithium project in Utah, United States. The recent data supports the Company's 3D model Phase 1 Work Program in confirming the historic presence of brine from Clastic Unit #14 along with several other potential zones spanning the Project acreage.
Oil & gas consultants analyzed over 50 years' worth of oil & gas daily drilling reports, mud logs and well files from the Project and confirmed that brine flow in the wells originated from multiple horizons including Clastic Units #9, #10, #14, and #15. The target horizon as outlined in the 3D model, Clastic Unit #14, was intercepted in 3 of the 5 wells at an average depth of 6250 feet and occupied an average thickness of 20 feet. Clastic Unit #14, is an evaporate cycle which was discovered during historic drilling by Dr. John E Garret and several oil & gas companies when they experienced blowouts of over-pressurised brine systems due to its intersection. Lithium grades were reported up to as high as 187 mg/l on the property and up to 1700 mg/l 150 meters east of the Green Energy Lithium Project.
Voltaic Minerals Corp. will continue working with its oil & gas consultants to obtain access to the existing well head structures on the Project and enter the intricate system of brines. Utilizing the 3D model and the data disclosed herein, the Company intends to perform a bulk sampling work program to confirm the presence of the lithium bearing zone and associated brine data including but not limited to flow rates, temperature, and metallurgy. In addition, the Company intends to execute on its milestones of processing of the Green Energy Lithium Project brines using its Selective Lithium process with Enertrex Corp.
We are pleased to announce the appointment of Sean Charland as corporate secretary of the company. Sean is an experienced public company director and officer based in Toronto. Mr. Charland replaces Frances Petryshen, who has accepted a full time position with another company. We thank Frances for her dedicated work over the past several years.
Voltaic Mineral Corp. disclosure of a technical or scientific nature in this press release has been reviewed and approved by Rory Kutluoglu, P.Geo., who serves as a Qualified Person under the definition of National Instrument 43-101.
We seek Safe Harbor.