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Pure Energy Minerals Ltd (2)
Symbol PE
Shares Issued 47,077,479
Close 2016-01-25 C$ 0.64
Market Cap C$ 30,129,587
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Pure Energy completes CV-6 well at Clayton Valley South

2016-01-25 09:24 ET - News Release

Mr. Robert Mintak reports

PURE ENERGY ANNOUNCES COMPLETION OF NEXT WELL ON THE CLAYTON VALLEY SOUTH PROJECT

Pure Energy Minerals Ltd. is providing the following update on its winter drill program at the company's Clayton Valley South lithium brine project located in Esmeralda county, Nevada.

The company has successfully drilled well CV-6 from surface to the targeted depth of 1,500 feet (456 metres) below ground level. CV-6 is located approximately six kilometres southwest of CV-2, very close to the geographic centre of Pure Energy's large claim block. Drilling commenced at the location in late November, 2015, using rotary-mud techniques for the installation of temporary surface casing to a depth of 500 feet (152 metres) below ground level. The surface casing isolates upper gravel layers, which are widespread in the upper reaches of the basin as evidenced by previous drilling and the company's seismic reflection survey. The rotary core drill rig commenced on Dec. 7, 2015, to advance the well from 500 feet to the targeted depth of 1,500 feet below ground level. Harris Exploration Drilling shut down on-site activities for the holiday period from Dec. 18, 2015, until Jan. 3, 2016.

Pure Energy elected to use rotary coring techniques on CV-6 in order to gain a more thorough understanding of the geology and hydrogeology of the basin underlying its claim area. Careful drilling of the well resulted in excellent core recovery and a nearly complete geological record through the targeted aquifers. The drillers completed the well by installing a two-inch (50 millimetre) PVC casing with screened sections open to the zones of interest. The finished well has been developed using air lifting and other techniques, and is now ready for Pure Energy to conduct downhole geophysical logging, followed by water sampling for chemical analyses.

Pure Energy sent sections of drill core to accredited laboratories for geochemical analyses (to better understand lithium content of the solids infilling the basin) and porosity testing (to better understand the fluid content of the sediments). A geologist was on site for all drilling activity, core logging and sampling, and will be present during upcoming fluid sampling.

After completing CV-6, the rig has moved to well CV-4 (located 2.9 kilometres southwest of CV-2), and is currently drilling a hole to 400 feet (122 metres) in order to install temporary surface casing. The company will employ reverse circulation and/or other rotary techniques to complete CV-4 and collect samples down to a similar targeted depth as that reached in CV-6.

This phase of the exploration program steps out southward from Pure Energy's previous drilling in the northern part of the CVS project in order to increase drill density and confirm lithium grades in the company's maiden resource (see company news release dated July 28, 2015). This program will provide geological, hydrogeological and geochemical information for the planning and permitting of future exploration. These data will support a preliminary economic assessment expected during the second quarter of 2016, as previously announced.

Pure Energy Minerals chief executive officer Robert Mintak commented: "We are pleased to report that our drilling program is running smoothly and according to plan. We took the bold step to use rotary coring at the CVS project, and we have been rewarded by excellent core recovery and an unprecedented view into the sediments that host our lithium brine resource. We expect to extract more value as we correlate the geology from drill core with the detailed seismic data. Our team is working hard to achieve aggressive project development goals, including the start-up of a mini-pilot plant in March. We shall deliver project updates as all of this important work advances."

Qualified person and quality control/quality assurance

Gerhard Jacob, PGeo, EFG (European geologist), is a qualified person as defined by National Instrument 43-101, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Jacob, PGeo, is not independent of the company as he is a director.

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