- Inferred Resource contains 243,000 tonnes of lithium carbonate equivalent (LCE) and 12.3Mt of Sulphate of Potash (“SOP”)
- Today’s price for 1 tonne of lithium carbonate (LCE) in CAD$ is $37,855.001
- Today’s price for 1 tonne of SOP in CAD$ ranges from $600.00 to $1,000.001
- Significant upside for expansion as the basin has not been determined and the brine potential remains untested, majority of resource tested from surface to only 5m in depth
- Continuous high grade lithium portion at one of three salars, containing 7Mt @ 1,490 ppm Li within 20Mt @ 880 ppm Li – perimeter and depth of deposit largely untested
- Maiden Mineral Resource Estimate (NI 43-101 compliant by SRK, 2019) of 120Mt of Inferred Mineral Resources grading 4.6% potassium (K) and 380ppm lithium (Li)
1 Price sources: November 10, 2021 – tradingeconomics.com
Vancouver, British Columbia – November 10, 2021 – Silver Valley Metals Corp. (“Silver Valley Metals” or “the Company”) (TSX-V:SILV / FSE:L3UA / OTC:BNRJF) is pleased to provide an update regarding its 100% owned Lithium – Sulphate of Potash project (“the Mexico Project”) in Zacatecas, Mexico. In consideration of the Company’s primary focus in the precious metals sector and the developments of a strong and robust market in the lithium and potash sector, the Board of Directors are considering all options to advance its prospective Mexico Project in order to maximize shareholder value. The Company’s considerations include various alternatives, including joint venture; option; outright sale; or a spin-out into a newly listed company where all shareholders would receive a share or partial share and Silver Valley Metals would retain a certain percentage of the new publicly traded entity. The Company is advancing its discussions at this point on the various possible alternatives and anticipates deciding on the best way to advance the Mexican Project sometime in 2021. The Company maintains that the asset has tremendous upside to develop into a significant dual commodity lithium – potash (SOP) producing deposit that would be highly strategic for the country of Mexico considering all potash is currently imported.
Highlights of the Project:
- Inferred Resource contains 243,000 tonnes of lithium carbonate equivalent (LCE) and 12.3Mt of Sulphate of Potash (“SOP”)
- Significant upside to expand inferred resource at depth and laterally
- Continuous high grade lithium portion at one of three salars, containing 7Mt @ 1,490 ppm Li within 20Mt @ 880 ppm Li – perimeter and depth of deposit largely untested
- Potassium in water peaked at 27,000 mg/l with an average of 13,000 mg/l and sulfate (SO4) peaked at 40,000mg/l with an average of 17,000 mg/l
- Brine from 20m wells pumped to the surface and concentrated by evaporation yielded lithium results of 1.2 – 2.1% (12,000 – 21,000 mg/l)
- Maiden Mineral Resource Estimate (NI 43-101 compliant by SRK, 2019) of 120Mt of Inferred Mineral Resources grading 4.6% potassium (K) and 380ppm lithium (Li)
- Deep basin large aquifer brine potential defined by a recent regional geophysics survey, remains to be tested
- Large land position and first mover advantage in a new District within an emerging potassium-lithium province in the Central Mexican Plateau
- Mexico imports 100% of all potash – significant opportunity to fulfill supply needs
- Located in the heart of the mining-friendly state of Zacatecas, with political stability, low risk of expropriation and a high level of security
- Excellent infrastructure in place, including abundance of skilled labour, an international airport, modern highways, railways, and sufficient power
To review more in depth information regarding the project:
Link to the presentation please click here
Link to the NI-43-101 please click here
Qualified Person
Timothy Mosey, B.Sc., M.Sc., SME, is the Qualified Person (“QP”) for the Company and qualified person as defined by National Instrument (“NI”) 43-101. Mr. Mosey supervised the preparation of the technical information in this news release.
About Silver Valley Metals Corp.
Silver Valley Metals is a brownfields exploration company focused on its flagship Ranger-Page Project located in the prolific Silver Valley of Idaho, 60 kilometres east of Coeur d’Alene and 1 kilometre from the I-90 freeway. Idaho was ranked the 9th best mining jurisdiction in the world in 2020 (Fraser Institute 2020 Annual Mining Survey). The Project is strategically located bordering two large mines, Bunker Hill to the east and Page to the west. Five historic mines are on the Project with underground mining data and surface geological data supporting high grade silver-zinc-lead mineralization present within the shallow, undeveloped mines. These mines remain open at depth, and laterally along strike, with no modern systematic exploration applied to the Project.
The Company also has a 100%-owned interest in a lithium and potassium bearing salar complex comprising 4,059 hectares on three mineral concessions (the “Mexican Projects”) located on the Central Mexican Plateau in the states of Zacatecas, and San Luis Potosi, Mexico. The NI 43-101 inferred mineral resource contains 12.3Mt of Sulfate of Potash (SOP) and 243,000 tonnes of lithium carbonate equivalent (LCE) and remains open in all directions for expansion. The Company is led by an experienced group of mining, financing, and exploration specialists.
On behalf of the Board of Directors of Silver Valley Metals,
“Brandon Rook”
Brandon Rook, President & CEO, Director
For further information please contact us at:
604-800-4710
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.
