Date: Sep 18, 2018
New Tech Lithium (the “Company”) (NTM:CSE) is pleased to announce that recent review of geochemical data reported in historic published and proprietary data bases reveal significant vanadium (V) concentrations associated with magnetite (mt) iron (Fe) mineralization at New Tech Lithium’s (NTM) Buena Vista Hills (BVH) cobalt exploration project. Vanadium concentrations up to 0.25% V2O5 (vanadium pent-oxide) are reported in a historic composite drill-core sample. The vanadium results reported herein suggest that the BVH cobalt project potentially contains a second element of significant value and it may now be considered a cobalt-vanadium exploration play going forward.
In 1944 and 1945 the US Bureau of Mines (USBM) completed an eight-hole, 1,884-foot diamond drilling program at and around the Segerstrom-Heizer open pit iron-mine within what is now NTM’s BVH Cobalt (Co) project (USBM Report of Investigations, Segerstrom-Heizer Iron Property, Pershing County, Nevada, 1947). Neither vanadium nor cobalt were routinely assayed for the core-samples produced during the USBM drill program (standard elemental suite included Fe, S, P, SiO2, Ca), but a composite sample of the entire approximately 200-foot diamond drill-hole (DDH) #6 was analyzed for a limited multi-element suite that included V2O5. Diamond Drill Hole #6 was an approximately 45-degree angle-hole drilled at a southeast azimuth beneath the existing pit and through the central part of the massive to disseminated magnetite body. The USBM reported that the approximately 200-foot composite sample for DDH-6 contained 0.25% V2O5.
In 2008 Zephyr Minerals Inc. (the property owner) drilled 3 vertical reverse circulation drill holes (RCDH) around the existing open pit at the Segerstrom-Heizer mine, but only one of the three RCDH’s (RCDH-1) was analyzed for a multi-element suite, which included vanadium reported as V2O5. Unpublished, proprietary results included a 50-foot interval (90-140 feet) containing 0.146% V2O5 and a 90-foot interval (170-260 feet) containing 0.158% V2O5.
The only two samples of massive to disseminated magnetite mineralization collected and analyzed for vanadium by T. DeMatties (unpublished pre-print, 2014) contained 0.145% V and 0.139% V, reported as metallic vanadium (V).
The only three samples of massive to disseminated magnetite mineralization collected by NTM during due diligence sampling contained 0.11% V, 0.12% V, and 0.10% V.
With the exception of samples collected by NTM and Ted DeMatties, these vanadium results are considered historic in nature. Sample preparation and QA/QC protocol were not conducted under the supervision of a Qualified Person as defined by N I 43-101 and can’t be unequivocally relied upon. Detailed sampling and assaying of the magnetite mineralized zone via drilling by NTM will be required to reliably determine the true concentrations and distribution of the V mineralization.
