These mining claims were drilled in 2006 and intersected significant saline water flow from 184.7 to 202.39 metres as well as halite cubes, sedimentary cements, and beds, including halite precipitating from waters as the core dries from 528.52 to 582.5 metres. Halite precipitating as described in the core logs suggests the saline fluids are supersaturated with high concentrations of total dissolved solids ('TDS'). High TDS concentrations typically correlate with high lithium concentrations.
SourceRock Purchase Agreement
On
Under the remaining terms of the agreement, the Company has issued to the Vendor; 1,800,000 common shares of
All of the issued common shares will be subject to such hold periods that are prescribed by applicable securities laws.
Further to the consideration listed above, the Vendor retains a 2% Gross Value Royalty ('GVR') on the claims. The Company has the right to purchase 1% of the GVR from the Vendor for
About the
SourceRock encompasses 91,288 hectares within the Proterozoic Sibley sedimentary basin,
About
Contact:
Tel: 306-221-8717
Email: jsykes@oregroup.ca
Reader Advisory
Certain information set forth in this news release contains forward-looking statements or information ('forward-looking ?statements'), including details about the business of the Company. By their nature, forward-looking statements are subject to numerous risks ?and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, ?industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from ?other industry participants, stock market volatility. Although the ?Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have ?been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and ?assumptions are based upon currently available information. Such statements are subject to known and unknown risks, ?uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially ?from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue ?reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. ?Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure ?documents available at www.sedarplus.ca including the Filing Statement dated
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