VANCOUVER, BC / ACCESSWIRE / June 9, 2021 / Scotch Creek Ventures Inc. (the "Company") (CSE:SCV)(FSE:7S2) is pleased to announce that it has closed on its "Macallan" and "Highlands" lithium brine properties, located in the Clayton Valley Nevada. The Company's finalized 100% owned land package in Clayton Valley totals approximately 9,281 acres, establishing the company as one of the largest stakeholders in the Valley. The Company issued 3,500,000 shares and reimbursed the arm's length vendors for the cost of staking and recording of the claims. The shares are subject to a four month hold period under applicable securities laws.
Additionally, two 43-101 reports have been prepared by Robert D. Marvin, P.Geo. Within the 43-101 technical report on Macallan, Mr. Marvin comments "the ClaytonValley has an enormous measured and inferred endowment of lithium and is rapidlyemerging as one of the world's largest concentrations of lithium…The combination of a highly favorable geological setting and unexplored nature of the Macallan claim block make the ground an ideal location for a relatively low cost, first-round drill program."
The Macallan report recommends a drill program that targets lithium-rich brines hosted within sedimentary and evaporite stratigraphy common to the Clayton Valley. Four holes are recommended to be drilled in a first pass evaluation of the rocks in the subsurface at Macallan. Mr. Marvin has more than 35 years of experience as an independent consultant and has had previous experience in lithium exploration, specifically within the Clayton Valley. Both reports are available on the Company's website and on SEDAR.
The Company's Macallan project borders on Pure Energy Minerals Ltd Clayton Valley property, which hashad successful drill results and has recently announced its intention to begin construction of a pilot plant for lithium brine extraction. The Macallan acquisition consists of 3,170 acres and is located on the southeast side of the Clayton Valley. Recent exploration on the northeast flank of the Clayton Valley from Noram Ventures Inc. and Cypress Minerals Corp. has yielded attractive results, thus reinforcing the geological trend line and exploration potential running through these claims.
Scotch Creek's Highlands West project consists of 6,111 acres and is located nearby Albermarle's Silver Peak mine, which is currently the only lithium-producing operation in the United States. With expanded interest in electrical vehicles, Albermarle recently announced plans to invest an additional $30 m. to $50 m. to double its current production at this site by 2025 and begin a program to both evaluate clays and optimize lithium extraction from its brine resources.
About Clayton Valley
Clayton Valley, Nevada, has become a North American hub for lithium exploration and production with various public companies establishing their footprint in the region:
- Albemarle Corporation's (NYSE: ALB) Silver Peak is the only lithium-producing mine in North America and has been in production since 1967. Albemarle announced its intention to double its lithium brine production and expand its operations to explore lithium clay potential in the valley.
- Westside of Clayton Valley: Nickle Rock Resources Inc. (C: NICL) announced on March 24, 2021, that it has commenced the drilling on their 2,300 acres adjacent to the west side of the Silver Peak mine just northwest of Scotch Creeks newly acquired acreage.
- On the lithium brine production side, Pure Energy minerals (TSX-V: PE) has entered into an agreement with energy giant Schlumberger to further develop their lithium brine production. This agreement validates the economics and also the advancements of brine exploration in the Clayton Valley.
- In the North-East of the Clayton Valley, Cypress Development Corp. (TSX-V: CYP) recently completed a PFS and has plans for a feasibility study later this year. Pure Energy has developed an open-pit design and mining plan that projects a 40-year minimum mine life and is currently working on plans for a pilot plant to refine extraction technologies. (lithium clay).
- Noram Ventures Inc. (TSX-V: NRM) is working on its fifth round of drilling and they have announced a resource of 300 million tonnes of >900 ppm Li. The current drilling program is on track to more than double that resource.
- Enertopia Corporation (OTC: ENRT) has a narrow land position between Cypress and Noram. They have an established 100 million tonne resource from 4 drill holes at a 400 ppm Li cutoff.
- Spearmint Resources Inc. (CSE: SPMT), with a property just south of Cypress, completed a drill program in November and has announced high-grade lithium intercepts.
Scotch Creek Ventures Inc. (CSE: SCV) despite the enclosure of the basin and limited acreage available, very little exploration has been completed on Scotch Creek's land package in Clayton Valley - an area that is greater than that of Cypress, Noram, Enertopia and Spearmint combined.
About Scotch Creek Ventures
Scotch Creek is a mineral exploration company, focused on the acquisition, exploration, and development of lithium projects located in tier-one North American mining jurisdictions. Scotch Creek's mission is to become a best-in-class lithium exploration company situated in one of the most promising lithium districts in the world, Clayton Valley, Nevada.
On behalf of the Board of Directors
"David K. Ryan"
Chief Executive Officer
Public Relations Contact
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information. Forward- looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. Note that proximity to operating mines or projects with established resource does not guarantee exploration success. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE: Scotch Creek Ventures Inc.
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