HENDERSON, Nev., Sept. 04, 2018 (GLOBE NEWSWIRE) — Blue Eagle Lithium Inc. (OTCQB: BEAG) (“Blue Eagle” or the “Company”) is pleased to provide a detailed overview on its initial property.
The Company’s Property covers 4,000 acres (1,619 hectares) within Railroad Valley, Nevada, approximately 100 miles (161 km) northeast of Tonopah, Nye County, Nevada and can be accessed directly from U.S. Route 6. Railroad Valley is one of the largest trapped drainage basins in North America and was first identified as Lithium rich by the US Geological Survey with the potential to host lithium-bearing brines in its extensive subterranean aquifers beneath the valley floor.
As an enclosed, fault-bounded basin valley, centered by a dry lakebed (aka playa) with significant amounts of evaporation and with documented soil samples containing elevated concentrations yielding up to 500 ppm Li2O, Railroad Valley exhibits all the major ingredients for a potential Lithium discovery. The Company’s property marks its first move into the lithium-rich region of Nevada. (Further details on the Property can be found at: www.blueeaglelithium.com/projects).
Railroad Valley fits the current geological model and understanding of lithium brine deposit occurrences, (as defined by US Geological Survey Open File 2013-1006), and is considered analogous to nearby Clayton Valley, which hosts North America’s only Lithium producing mine owned by Albemarle Corp. and in production since 1966. Furthermore, the Company’s highly prospective green-field brine target area features many of the similarities to Clayton Valley and it believes that an extensive exploration program is warranted.
Within Railroad Valley, the Company’s Property is focused within the deep Southern Gravity Low and within the zone of high electrical conductivity. Unlike Clayton Valley, however, this region of Railroad Valley is a relatively unexplored virgin resource that offers opportunities to expand its footprint without competition for water rights and fractious competition from established companies. Furthermore, the size of Railroad Valley is significantly larger than that of Clayton Valley, thus offering the Company substantial potential upside as it progresses forward.
Railroad Valley is essentially the only oil and gas region of any consequence in the state of Nevada. It was home to the first oil and gas field discovered in Nevada, one of the most productive wells in United States history, still in production today. As a result of its historic activity, hundreds of well logs and seismic data are available to provide clues to the basin’s structure and geologic picture in light of current lithium brine-formation theories. Many of the wells drilled have penetrated brines, but very few have been analyzed for Lithium. The presence of this data is unique to Railroad Valley and offers a distinctive advantage for a discovery over other prospective Lithium projects, including those within Clayton Valley.
Blue Eagle’s Railroad Valley Property highlights include:
- Located within a large Gravity Low identified within a closed basin (i.e. Clayton Valley Model) and within a region of elevated electrical conductivity.
- US Geological Survey surface samples exhibit significant concentration of Lithium in the Railroad Valley. The highly anomalous Lithium in the sediment samples is coincident with a salt lake / discrete gravity low and a deep basin containing a thick sequence of saturated sedimentary formations is possible.
- Host evaporates surrounded by volcanic rocks so called rhyolite ash tuff giving a known source for Lithium and near surface waters cropping out in the southern gravity low area.
- Railroad Valley shares several geological similarities with nearby Lithium-producing Clayton Valley, as it is an enclosed fault-bounded basin valley, centered by a dry lakebed (playa), and exposed to evaporation. Hydro studies show a positive influx of ground waters with little exiting the basin.
- Railroad Valley represents a larger land acreage (ie., > 2x) and playa catchment area (ie., > 3x) than the Clayton Valley.
- Historic and modern oil exploration and development data indicate that favorable geologic formations and brines are present and the seismic from these activities can provide relatively inexpensive and effective data to aid in its exploration program.
- Limited competition and favorable market for water rights.
- Cheaper mining costs than traditional hard rock mining (brine is universally accepted as the most cost-effective type of Lithium resource to process as it dramatically reduced exploration and production time).
- Close to established infrastructure (power, transportation, skilled workers, heavy equipment, drilling/mining contractors), and mining-friendly jurisdiction.
“I am incredibly optimistic about the opportunities that lay ahead with this property,” commented Blue Eagle’s founder and CEO, Rupert Ireland. “When we look at the general surface sampling in Railroad Valley that has indicated economically interesting levels of lithium in sediments, and the published maps and geophysical surveys and proprietary surveys that have enabled a fairly detailed structural interpretation of the valley’s basin development, we see that these factors are comparable to the geological factors present in the nearby Lithium-producing Clayton Valley. We look forward to completing our initial analysis of available samples and evaluating well logs and seismic data so we can finalize our plan for a groundwater exploration program. Ultimately, our intent is to discover a reservoir of brine within the sedimentary host basin indicating economically viable concentrations of Lithium.”
The Company would also like to highlight that a new corporate overview Video is available online at: www.youtube.com/watch?v=p_Ea34P_w-o or on its website.
Further, the company can confirm that is has completed the required yearly lease renewal payments on the claims to the BLM due August 31, 2018. Further details highlighting the Company’s exploration program and schedule will be released in the near future.
On behalf of the Board,
Chief Executive Officer
About Blue Eagle Lithium Inc.
Blue Eagle Lithium is a publicly traded (OTCQB: BEAG) Lithium exploration and development company based in Henderson, Nevada. The company is engaged in identifying, evaluating, and developing early-stage lithium exploration opportunities in North America. Blue Eagle’s team comprises experienced leaders that represent over 60 years of industry experience in the energy, financial, and geology fields. Blue Eagle has a 100% Working Interest in 200 placer claims in Railroad Valley, Nevada, a highly prospective green-fields lithium brine target in the heart of the Basin and Range geologic province. The staked claims, covering 4,000 acres (~1,619 hectares) over a large portion of Railroad Valley, are ready for the next phase of Lithium exploration.
IR TOLL-FREE: 1-877-344-BLUE
INVESTOR EMAIL: IR@blueeaglelithium.com
This news release may contain “forward-looking” statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company’s products, as well as additional risks and uncertainties that are identified and described in the Company’s SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.