VANCOUVER, Sept. 3, 2013 /CNW/ - Pure Energy Minerals Limited (TSXV: PE)("Pure Energy" or the "Company") is pleased to provide an update for our Alkali Flats Lithium Brine Project ("AF Claims" or "AF Project"), located in Esmeralda County Nevada.
The Company's management would like to take this opportunity to provide an update on our current status and plans leading up to the year end of 2013. Despite challenging times in the global capital markets, and in particular the mining sector, we have remained busy advancing our AF Project.
The Company has received approval from U.S. Bureau of Land Management ("USBLM") for its initial drilling program on the AF Project. The Notice of Intent to conduct exploration drilling was submitted to USBLM on February 19, 2013 and approved on March 11, 2013. The initial exploration well is designed to test specific targets identified by the geophysical surveys. Based on the success in finding brine aquifers and anomalous lithium contents, additional exploration including reflective seismic and further drilling is planned to expand on the information about hydrogeology and lithium mineralization that might be discovered.
The Company is pleased to announce it has paid its annual USBLM maintenance fees for its AF Claims; the Company has also optimized its claim holdings to significantly reduce its maintenance fee costs while retaining all claims representing planned drilling targets and all areas of significant exploration interest. The new property holdings now consist of 2,240 acres, 4 claims of 160 acres, 24 claims of 40 acres and 16 claims of 40 acres. Additionally, the Company has made all required payments to GeoXplor Corp. in accordance with the option agreement with GeoXplor Corp. on the AF Claims.
Update on Project Financing
The Company has had numerous parties review its AF Project and have had extensive due diligence discussions with Company management and the Advisory Committee.
Despite the difficult financing climate facing the global junior resource sector, the Company is pleased to report that it has generated strong and continuing interest from a number of potential partners (based in Asia and our previously announced relationship with Pathion, Inc.) that are in various stages of due diligence. The Board remains optimistic that this level of interest in the Company and its projects will attract the required investors and potential strategic partners required to advance its exploration program on the AF Project.
New project opportunities and lithium processing technologies are also being considered as part of our ongoing review of the Company and its short and medium term strategy, with a number of opportunities currently under technical review.
Pure Energy's CEO Robert Mintak comments "I am happy to report that the Company has been very active these last few months in our discussions with potential strategic partners that may prove key to our project financing. I am hopeful to be in a position to provide more specific details on these talks and additionally possible processing technology licensing opportunities in the near future. "
About Pure Energy
Pure Energy Minerals Limited is an innovative junior mining company based in Vancouver, British Columbia, Canada. Currently Pure Energy is focusing its efforts on lithium mining opportunities and related technologies. The Company's Alkali Flats Project in Esmeralda County Nevada represents approximately 2240 acres in proximity to the Clayton Valley Playa. The area is home to the only U.S. based lithium producing plant, the Silver Peak plant operated by Rockwood Lithium.
We seek Safe Harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pure Energy Minerals Limited
For further information:
For further information, please contact Robert Mintak, Chief Executive Officer at:
Suite 1780 - 355 Burrard Street
Telephone: (604) 608-6611
Facsimile: (604) 608-6620