Vancouver, B.C., September 12, 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 drillhole (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 Unpublished, proprietary results included a 50-foot interval (90-140 feet) containing 0.146% V2O5 and a 90-foot interval (170-260 feet) containing 0.158% V2O5.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two samples of massive to disseminated magnetite mineralization collected and analyzed for vanadium by T. DeMatties (unpublished pre-print, 2014) contained 0.145% V and 0.139% V, reported as metallic vanadium (V).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 NI 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.
Relative to New Tech Lithium’s lithium-potassium-bromine project in the Paradox Basin in Utah and Colorado, NTM did not renew their 608 US Federal Mining Claims in the Colorado portion of the Paradox Basin.
New Tech Lithium is engaged in the exploration and development of promising Cobalt and Lithium projects in America, including the Buena Vista Hills Cobalt project in Nevada, the Fredericktown Cobalt project in Missouri and the Paradox Basin Lithium-Bromine project in Utah/Colorado. The Company is managed by seasoned professionals with extensive experience in mineral exploration and development throughout the world.
The scientific and technical data contained in this news release was prepared and reviewed by Kent Ausburn, PhD, P.Geo., a non-independent qualified person to the Company. Dr. Ausburn is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a qualified person pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects
On behalf of the Board of Directors
“Rudy de Jonge”
Rudy de Jonge, CEO
Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, are "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and Canadian securities laws. Forward Looking Statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the Forward Looking Statements.
Key assumptions upon which the Company’s forward-looking statements and information are based include: the price of potash will rise and not fall significantly; the Company’s ability to secure new financing to continue its exploration and development activities; there being no significant changes in the ability of the Company to comply with environmental, safety and other regulatory requirements; the Company’s ability to obtain regulatory approvals in a timely manner; and the Company’s ability to achieve its growth strategy. These assumptions should be considered carefully by readers. Readers are further cautioned that the foregoing list of assumptions is not exhaustive. Although the Company believes that the assumptions on which the forward-looking statements or information are made are reasonable, based on the information available to the Company on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct.