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New Tech Lithium Corp
Symbol NTM
Shares Issued 44,807,569
Close 2018-06-01 C$ 0.06
Recent Sedar Documents

ORIGINAL: New Tech to acquire 4 permit applications in Missouri

2018-06-04 10:36 ET - News Release

Received by email:

File: NR  New Tech 2018.05.3115841v.2.pdf

                                                                           800   1199 West Hastings Street
                                                                           Vancouver, BC, Canada, V6E 3T5
                                                                           Tel: 604-283-1722
                                                                           Fax: 1-888-241-5996
                                                                           www.americanpotashcorp.com
 NTM: CSE


NEWS RELEASE

  New Tech Lithium Corp. Signs Definitive Option Agreement to Acquire US Bureau of
   Land Management Cobalt Prospecting Permit Applications in the Old Lead Belt of
                    Madison County, Southeast Missouri, USA
Vancouver, B.C., June 4, 2018: New Tech Lithium Corp. (the "Company") (NTM:CSE) is
pleased to announce that it has signed an arm's length option agreement dated May 18, 2018 (the
Missouri Option Agreement") with John Glasscock of Laramie, Wyoming (the "Optionor") to
acquire four federal Prospecting Permit Applications covering 9,406 acres located adjacent to and
immediately south of the Fredericktown Lead (Pb)   Copper (Cu)   Nickel (Ni)   Cobalt (Co)
subdistrict of the historic Old Lead Belt in Madison County, Southeast Missouri, USA.
All $ are in the currency of the United States. NTM is required to pay $30,000 and issue 1,600,000
common shares of NTM as follows.
Cash $ Shares Date
6,500                 Paid on signing of the LOI
23,500 350,000        On June 1, 2018 ("Closing Date")
        250,000       First anniversary of the Closing Date
        250,000       Second anniversary of the Closing Date
        250,000       Third anniversary of the Closing Date
        250,000       Fourth anniversary of the Closing Date
        250,000       Fifth anniversary of the Closing Date
After the issue of Shares on the Closing Date, the number of all subsequently issued Shares will
be subject to any subdivision or consolidation of the Shares.
Concurrently with signing of the Missouri Option Agreement, NTM signed a Royalty Agreement
with the Optionor who retains a two percent ("2%") net smelter return (the "Royalty"). NTM can
buy one-half of the Royalty (1%) for $1,000,000 at any time during the term of the Option and for
a period of 10 years thereafter.
Fredericktown Mining District Geology and Mineral Deposits
The Fredericktown subdistrict covers approximately 80 square miles in the southeastern Old Lead
Belt and consists of 30+ historic mines, several of which were subsequently consolidated into
                                                                               800   1199 West Hastings Street
                                                                              Vancouver, BC, Canada, V6E 3T5
                                                                              Tel: 604-283-1722
                                                                              Fax: 1-888-241-5996
                                                                              www.americanpotashcorp.com
 NTM: CSE

larger mine complexes. Lands applied for encompass two Pb-Cu-Ni-Co past producers, one Cu-
Co past producer, and several cobalt prospecting sites.
Cobalt-Copper-Nickel mineralization is associated with Pb Zn deposits throughout the Southeast
Missouri (SEMO) Lead Belt but is especially concentrated in the Fredericktown area
mineralization. Mine LaMotte, the largest mine complex in Fredericktown, is reported to have
produced 15 million tonnes (mT) of ore at average grades of 2.7 % Pb, 0.69 % Cu, 0.29 % Ni, and
0.23% Co, or 34,500 tonnes cobalt (75.9-million pounds cobalt) (USGS OFR 81-518). Significant
production also occurred at the similar sized Madison Mine complex from which grade and
tonnage are unknown, although an existing (unmined) resource at the Madison Mine, determined
from drilling in the 1980's and 1990's, was reported to contain 6.6 mT @ 0.31% Co, 0.47 % Ni
and 0.74% Cu, or 20,460 tonnes cobalt (45.1 million pounds cobalt). A mine plan was developed
in 2001 for 2.2 mT grading 0.54% Co, 0.82% Ni, and O.92% Cu (11,880 tonnes cobalt, or 26,14
million pounds cobalt) (Anshutz Mining and US Cobalt, CDNX:USC, 2001). It was recently
reported (April 14, 2018) that the Madison Mine has been sold to Missouri Cobalt, LLC who has
stated plans to initiate mining in 2020. The Higdon Mine (Doe Run Resource Company), located
in the eastern part of the Fredericktown subdistrict, is also reported to have an undeveloped primary
lead resource of 14 mT with an average grade of 0.14% Co and 0.17% Ni or 19,600 tonnes cobalt
(43,120,000 pounds cobalt) (Para. L. A., 2009). Note that the historic mines and mineralization
mentioned above are not located on our newly acquired Federal Cobalt Prospect Permit
Applications and are not necessarily indicative of mineralization hosted on the NTM property,
although they are all within the same Fredericktown Sub-District of the Old Lead Belt Mining
District.
New Tech Lithium's property applications all lie within a maximum distance of two miles from
the current historic Fredericktown Mining District boundary and encompass lithostratigraphic and
structural attributes deemed favorable for the discovery of new deposits (Anderson K. H., 1983,
USGS, MF-1002). The area's high cobalt prospectivity is further evidenced by a unique regional
cluster of 15 small, historic Pb-Zn-Cu-Ni-Co and/or Cu-Co past producers, three of which are
encompassed by lands under NTM application (U.S. Bureau of Mines, Minerals Availability
System (MAS)). The area is thought to be underexplored due to extensive cover and historic focus
on the very large Pb deposits discovered previously to the north when Pb was the primary focus
of mining in the area (Missouri Geologic Survey, personal communication).
Lead-Zinc + (Co-Cu-Ni) deposits are hosted in the lower Cambrian Bonterre Formation carbonate
rocks and occasionally in the underlying LaMotte Formation sandstones. Cambrian and younger
carbonate and clastic sedimentary rocks uncomformably overlie a large Precambrian magmatic
complex. The SEMO Lead Belt is the "type location" for Mississippi Valley Type (MVT)
carbonate-hosted Pb Zn deposits which occur in the midcontinent U.S. and worldwide. The
SEMO Lead Belt deposits are unique with respect to associated Co-Cu-Ni mineralization and low
Zn concentrations when compared to other MVT districts. In general, Lead Belt deposits are
                                                                              800   1199 West Hastings Street
                                                                             Vancouver, BC, Canada, V6E 3T5
                                                                             Tel: 604-283-1722
                                                                             Fax: 1-888-241-5996
                                                                             www.americanpotashcorp.com
 NTM: CSE

stratiform, greater than 10-meters thick, and laterally extensive, potentially enabling bulk
underground mining via room and pillar mining methods.
New Tech Lithium Plans Going Forward
New Tech Lithium have received a request from the US Bureau of Land Management to submit
an Exploration Plan acknowledging the receipt and preliminary adjudication of Prospecting Permit
Applications. The Exploration Plan is under development and will generally apply current SE
Missouri Co-Ni-Cu deposit models utilizing data from modern geophysical methodology and
stream sediment geochemistry to facilitate targeting test drill holes. Approval of the Exploration
Plan and the issuance of a Prospecting Permit is anticipated by 2018 Q4. Further, NTM will
continue to research the geology and mineralization controls of the cobalt-prospective
Fredericktown Mining Subdistrict to refine potential exploration models and more efficiently focus
the upcoming exploration program and aid acquisition of additional cobalt properties in the area.
About New Tech Lithium Corporation
New Tech Lithium (NTM) is a CSE-listed public company located in Vancouver, B.C. New
Tech Lithium are focused on exploring for and developing modern battery-metals Lithium and
Cobalt mineral deposits in the USA. New Tech Lithium currently control a large Li + Br + K -
brine project (~13,840 acres of Federal lithium claims and Utah and Colorado State Leases) in
the Paradox Basin of Utah and Colorado. New Tech Lithium also control ~27,000 acres of
Potash Permit Applications in the Paradox Basin of Utah. In addition to the 9,406-acre cobalt
option agreement for Federal Cobalt Prospecting Permits in SE Missouri announced herein,
UTM has also recently completed another cobalt option agreement for a privately held 640-acre
(1-square mile) private-land parcel containing known cobalt mineralization in Nevada (see News
Release dated May 28, 2018).
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
                                                                                    800   1199 West Hastings Street
                                                                                   Vancouver, BC, Canada, V6E 3T5
                                                                                   Tel: 604-283-1722
                                                                                   Fax: 1-888-241-5996
                                                                                   www.americanpotashcorp.com
 NTM: CSE

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.
 


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