Blue Eagle Lithium Inc. Announces Commencement of the First Phase of its Work Program & Results Received from its Baseline Soil Sampling Program
Company Commissions NI 43-101 Report
HENDERSON, Nev., Sept. 25, 2018 (GLOBE NEWSWIRE) -- Blue Eagle Lithium Inc. (OTCQB: BEAG) ("Blue Eagle" or the "Company") is pleased to announce the commencement of its exploration and evaluation program and further, announces results received from the first phase of its initial baseline soil-sampling program.
Blue Eagle is a Lithium exploration company engaged in identifying, evaluating, and developing early-stage Lithium exploration opportunities in North America. The company's initial property is located in Railroad Valley, Nevada, a highly prospective green-fields Petro-Lithium brine target area that features many of similarities to the nearby Clayton Valley and which the company believes warrants an extensive exploration program. The company has a 100% Working Interest in 200 placer claims. The staked claims cover 4,000 acres (~1,619 hectares).
The Company’s field operations team recently collected samples from a generalized cross section of the property spanning its length and breadth. A total of 12 baseline samples were taken and sent to ALS Global Geochemistry* in Reno for analysis. The results are listed in the table below: -
The initial results received indicate encouraging concentrations of circa 100 PPM (Parts Per Million) of (Li) Lithium, in many of the samples, which fall within the expected range of a weathered surface source to a working Lithium brine system in the underlying water table.
Initially these results have been gathered to help provide a fair reflection of all the acreage and also a necessary requirement for the company’s newly commissioned NI 43-101 Report which is due to be delivered in the next 3-4 weeks. (The company will post this report on its property page as soon as it’s received). Tekhne Research Inc, an independent company that has had previous experience in Railroad Valley, is compiling the report. Upon receipt of the NI 43-101 Report, the company will commence the build of its database and plans to use the services of Geologix** Houston to achieve this. Initially the soil samples collected at Railroad Valley will be crosschecked with further samples collected by Tekhne during their recent field study of the acreage and will be used to establish what types of Lithium compounds are present.
In conjunction with the building of the database and the detailed study of oil and gas well logs in the area, Blue Eagle Lithium will expand upon the initial results from the soil sampling analysis, the findings of the NI 43-101 report and will commence evaluation of the brine water reservoirs containing Lithium leached from the surface and surrounding source areas.
“We are most encouraged by these early stage results that are analogous to the prolific Clayton Valley Province,” commented Rod Murray, Blue Eagle Lithium Chief Operating Officer. “We will now move forward with our work program to fully evaluate the potential resource in Railroad Valley. Immediate steps right now are to gather Water logs, surface Geology logs, Well Logs cross reference and evaluate with the Tekhne Report when received. This process will indicate what activities are required next”
About Blue Eagle Lithium Inc.
Blue Eagle Lithium is a publicly traded (OTCQB: BEAG) Lithium exploration and development company based in Henderson, Nevada. Blue Eagle’s team comprises experienced leaders that represent over 60 years of industry experience in the energy, financial, and geology fields. Blue Eagle has a 100% Working Interest in 200 placer claims in Railroad Valley, Nevada.
IR TOLL-FREE: 1-877-344-BLUE
INVESTOR EMAIL: IR@blueeaglelithium.com
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Released September 25, 2018