Equitorial Exploration Corp. Acquires Utah Lithium Brine Project
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Equitorial Exploration Corp. Acquires Utah
Lithium Brine Project
Vancouver, BC, Canada / TheNewswire / February 17, 2017 - Equitorial
Exploration Corp. (TSX Venture Exchange : EXX, Frankfurt: EE1) ("Equitorial") is
pleased to announce that subjec t to the approval of the T SX Venture Exchange, it has
acquired 100% interest in the Tule Valley Lithium Brin e project in Utah and the Gerlach
(San Emidio Desert) Lithium Brine properties from Umbral Energy Corp ("Umbral").
As per the agreement and subject to exchange approval, Equitorial shall pay Umbral the
sum of $50,000 on execution of this agreement and shall issue to the Umbral 2,000,000
common shares upon acceptance by the TSX Venture Exchange in consideration for
the assignment of t he underlying agreement. Equitorial wi ll assume a final payment of
$100,000 to the underlying owner and Umbral will issue 1,500,000 shares for 100%
interest in the properties. There is a 2% NSR in favour of the underlying owner.
Tule Valley Lithium Brine Project comprises 26 placer claims of 160 acres each, for a
total area of 4,200 acres. Th e property is located approx imately 190km south west of
Salt Lake City, Utah, and is road accessible from Delta UT, 70km to the east.
Tule Valley is a closed basin, wherein su rface water and groundwater flowing into the
basin has no escape route (eg, river out let), and the water can only escape through
evaporation at surface. Any minerals dissolv ed in said water are left behind in the
resulting brines and evaporation pools. Tule Valley is mostly a dry lake bed (playa), but
it hosts active evaporation pools along its western margin.
Tule Valley is located within an area which hosts several lit hium-bearing hardrock
properties. Some of these areas may have provided lithium to groundwaters. Redhill
Resources Corp.'s Honey Comb beryllium-rubidi um-lithium-rare-earth project is situated
20 km to the north; Crystal Peak Minerals Inc.'s potash-lithium-magnesium brine project
is 60 km to the southeast, and Materion Corp .'s Spor Mountain beryllium mine can be
found 30 km to the northeast. Redhill states in their Sept. 30, 2011, National Instrument
43-101 report, that initial surface sampling provided assays of 1,500 to 1,700 parts per
million lithium. Crystal P eak's Nov. 18, 2013, NI 43-101 report announces that lithium
values in solution (brine) range from 50 to 200 milligrams/litre. Cr ystal Peak is an
evaporite basin similar to Tule Valley.
The Tule Valley prospect may be similar to t hat of Clayton Valley, Nevada, as they are
both closed basins with signs of active and hist oric evaporation. The Tule Valley project
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requires further exploration, including geophysics and drilling, to evaluate potential for a
mass brine deposit.
The Gerlach (San Emidio Desert) property is located less than 5km south of Gerlach,
Washoe County, Nevada. The 89 placer claims of 20 acres each, covering an area of
1,780 acres within the San Emidio Desert whic h is the southern lobe of the largest dry
lake bed in North America (Black Rock Desert), known for its natural hot springs.
Although San Emidio is a dry lake bed (playa ) with little evidence of active evaporation,
US Geothermal Co. has a geothermal electr o-generation plant loca ted 27km south of
the claim block on the east edge of the San Emidio playa. This confirms the presence of
geothermal activity (hence brines) in the San Emidio playa.
The Gerlach property may have similar characteristics to that of Clayton Valley, Nevada,
as they are both closed basins with signs of geothermal activity. Similarly to Tule Valley,
the Gerlach project requires further explor ation, including geophysics and drilling, to
evaluate potential for a mass brine deposit.
Phil van Angeren, P. Geo., a Qualified Person as defined by National Instrument 43-101,
has reviewed and verified the technical mining information provided in this release.
About Equitorial Exploration Corp
Mag One Products Inc. has grant ed Equitorial Exploration Corp . a first right to a 50/50
joint venture to finance equally the construc tion of the first magnesium and refining
production facility for use by Mag One to produce magnesium metal and related
products, by using its proprietary magnesiu m metal technology. The project is in
Danville Quebec where Mag One has access to 50 Million tonnes of already-mined
serpentinite tailings.
Equitorial has also acquired a 100-per-cent inte rest in seven minerals claims located in
the Northwest Territories, C anada, known as the Li proper ty which hosts the Little
Nahanni pegmatite group (LNP G) lithium-cesium-tantalum (LCT) pegmatite dikes. In
summer 2017, the company is anticipating a field program comprising diamond drilling,
channel sampling, geological mapping and prospecting on the Li property.
On behalf of the Board of Directors
EQUITORIAL EXPLORATION CORP.
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
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defined in the policies of t he TSX Venture Exchange) acc epts responsibility for the
adequacy or accuracy of this release.
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