Avarone Metals receives drill permits for Moab project

May 31, 2016

AVARONE RECEIVES DRILL PERMIT FOR ITS MOAB LITHIUM BRINE PROJECT

Avarone Metals Inc. has received exploration permits from the Bureau of Land Management, Nevada, to complete up to 20 drill holes on its 100-per-cent-owned Moab lithium project in the South Big Smoky Valley, Nevada.

Drilling is to be conducted utilizing Vibracore electric drills, which will utilize large-diameter NQ2 and AQ rods for superior sample recovery, and is expected to reach depths of up to 50 metres. The purpose of the drilling will be to test subsurface layers for lithium and other commercial elements. The company is in the process of mobilizing its field crew and work is expected to commence shortly.

The Moab lithium project fits well into the playa-type brine deposit model as it shares geological similarities with Clayton Valley, the only lithium-producing brine operation area in North America. A playa is an internally drained brine deposit, the surface of which is primarily composed of silts and clays in which lithium can accumulate from the surrounding source rocks during successive evaporation and concentration events.

“We are excited to receive our initial drill permit for our Moab lithium brine project, located in Nevada near the Tesla Gigafactory. The salt-bearing zones, in addition to the volcanogenic clays encountered at Moab, confirm previous observations made by historical U.S. Geological Survey surveys on both the Moab property as well as Ultra Lithium’s contiguous property, which is currently being drilled within the same enclosed basin,” said chief executive officer Marc Levy.

The technical content of this news release has been prepared under the supervision of Peter Born, PGeo, a qualified person as defined in National Instrument 43-101, standards of disclosure for mineral projects.

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