Mr. Michael Sweatman of Eureka reports
EUREKA DISCOVERS CONDUCTIVE ZONES AT GEMINI LITHIUM PROJECT
Eureka Resources Inc. and its joint venture partner, Nevada Sunrise Gold Corp., have received the preliminary results from a time-domain electromagnetic survey carried out on the Gemini lithium project in Lida Valley, Nevada. A reconnaissance moving-loop TDEM survey over Gemini West and Gemini East has detected conductive zones within the sub-basins defined by recent gravity surveys. The results gained from the TDEM survey are interpreted to be conductive brines at depth located well below the non-conductive alluvium (sediments) at surface.
A conductive layer 150 to 250 metres deep appears to cover most of Gemini West and Gemini East, and several isolated strong conductive zones were interpreted at depths from 400 to 600 metres. The conductive layers and zones are indicative of brine solutions in porous aquifers and traps within each subbasin.
Michael Sweatman, president of Eureka, stated: "We are pleased that the ground survey has detected conductive layers coincident to the gravity lows that were previously located. Gemini appears to be a hidden gem and the next step is to drill into the conductive zones to determine the extent and lithium content of the interpreted brines."
Gemini is currently the subject of an interim agreement with Nevada Sunrise Gold Corp. whereby Eureka can earn a 50-per-cent working interest in a joint venture at Gemini with Nevada Sunrise (see Eureka news release dated Jan. 21, 2016). Nevada Sunrise acts as operator of Gemini.
A diagram of the TDEM section pertaining to this release is available on the company's website.
About Gemini and the Lida Valley
Gemini is located approximately six miles (10 kilometres) east of the town of Lida, Nev., and currently consists of 247 placer claims totalling 4,940 acres (2,000 hectares). Gemini flanks the Gold Point Solar energy zone, a BLM land reserve for solar power generation. The Lida Valley is a flat, desert basin with a similar geological setting to the established Clayton Valley basin, which hosts North America's only producing lithium mine at Silver Peak, located 40 kilometres (26 miles) to the northwest.
The exploration strategy at Gemini is to target desert basins, or playas, that exhibit similar geological and geophysical characteristics to the Clayton Valley basin where lithium brines are known to accumulate in faulted subbasins, or traps. Such subbasins can be delineated by gravity surveys that detect strong gravity lows.
A detailed gravity survey carried out in 2012 and 2013, indicated strong gravity lows within two, faulted subbasins approximately seven kilometres (4.5 miles) apart, each interpreted to be hundreds of metres deep. Nevada Sunrise made the decision to acquire claims covering the available land after reviewing the geophysical results in conjunction with favourable local geology, namely late Miocene felsic volcanic tuffs adjacent to Gemini. These rocks provide the source of lithium for trapped, lithium-rich saline groundwaters (brine) within the subbasins. On completion of more detailed TDEM surveys, drilling into the conductive zones within the subbasin for lithium-bearing brines is recommended. There are no known drill holes at Gemini.
John R. Kerr, PEng, is the company's designated qualified person for this news release within the meaning of National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.
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