Vancouver, British Colombia / January 16, 2023 – US Critical Metals Corp. (“USCM” or the “Company”) (TSXV: USCM, OTCQB: USCMF; FSE: 0IU0) is pleased to announce that it has finalized a detailed mapping and sampling program on its Clayton Ridge Lithium Property located in Esmeralda County, Nevada (the “Property” or “Clayton Ridge”). The Property spans a total of approximately 3,600 acreages and is located within the Clayton Valley region, which is the only lithium producing region in the United States. USCM has the option to acquire a 100% interest in the Property.
Mapping results show broad areas of lithium-bearing claystones and volcanic tuffs suggesting a broad lateral extension of mineralization. The mineralized zones extend throughout the Property with individual areas covering a surface area of up to 0.5 kilometer by 1.0 kilometer. The new mapping and data delineate a robust lithium bearing system that may prove to be a significant addition to the historic results. The results also further expand the understanding of the geological systems present and enhance the working model for the Property. The map set forth below outlines the geologic systems present and all sampling completed to date.
Lithium mineralization is generally encountered within the waterlain tuffs or tuffaceous claystone and siltstone. However, anomalous lithium values have been identified in airfall tuffs, expanding the overall prospective host rocks. The prospective lithium bearing package is underlain by a sequence of lithic tuffs which form a floor to lithium mineralization and in places, the floor comprises Paleozoic dolomites. Notwithstanding, the overall thickness of the mineralized package could be a few hundred meters thick locally. The Company will be forthcoming with additional information relating to estimates of true thickness and related cross selections.
To date, 315 rock chip samples have been collected within the Property area. Assay results from the exploration campaign confirm the initial lithium grades from the historical work. Overall, most samples taken last year show anomalous lithium values, which indicates a broad mineralized system. Summary results from 315 rock chip samples include the following:
- Sample grades from 950ppm Li to trace including 57 samples with a grade of over 500ppm Li, 106 samples with a grade of over 400ppm Li and 141 samples with a grade of over 300ppm Li; and
- Average grade of 308ppm Li with a standard deviation of 212ppm Li.
The expansion of the original claim block proved to be a critical strategic component to the exploration efforts as many of the claystone/tuff lithium targets fall within the new expanded block. Additional mapping may be needed to further delineate other targets, nonetheless there is sufficient data to initiate permitting for a phase one drilling program. The Company will be forthcoming with specifics relating to the proposed drill program and permitting process with the Bureau of Land Management.
Mr. Darren Collins, Chief Executive Officer and Director of USCM, comments: “Our work programs over 2022 have been successful in the context of demonstrating a potentially large lithium clay bearing system at the Clayton Ridge. This includes the potential for significant lithium resources based on initial grade findings at surface and thickness estimates. The Company now moves forward with the definition of a final drill program for submission to the Bureau of Land Management.”
Robert J. Johansing, BSc (geology), MSc (economic geology), is an independent qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (the “QP”)The scientific and technical information contained in this news release has been reviewed and approved by the QP. This included a verification of the lab results and certificates.
Quality Control and Quality Assurance
The Samples were analyzed at American Assay Laboratories (AAL) in Sparks, Nevada. AAL is an independent ISO 17025 certified laboratory. Additional information relating to AAL’s analytical and testing procedures can be found at aallabs.com. Internal lithium standards, blanks and duplicate samples were inserted for QA/QC purposes.
The Clayton Ridge Lithium Property (the “Property”) is a lithium claystone deposit located in Esmeralda County, Nevada on the east flank of the Clayton Valley, the only lithium producing region of the United States. The Property is located just 18 kilometers west of Goldfield, Nevada and roughly 17 km southeast of Silver Peak, Nevada, lying within a topographic swale between the Montezuma Range and Clayton Ridge. The Property is comprised of 180 unpatented lode mining claims, covering 3,600 acres, with easy driving access to all claims. The Property is one of several lithium projects in region. In addition to the only operating lithium producer in the US (Albemarle), the Clayton Valley and immediate surroundings host several lithium projects ranging from early- to late-stage exploration (including, but not limited to, Noram Lithium, Pure Energy, American Lithium, ioneer Ltd., Cypress Development and Spearmint Resources).
About US Critical Metals Corp.
USCM is focused on mining projects that will further secure the US supply of critical metals and rare earth elements, which are essential to fueling the new age economy. Pursuant to option agreements with private Canadian and American companies, USCM’s assets consist of four agreements, each providing USCM with the right to acquire interests in five discovery focused projects in the US. These projects include the Clayton Ridge Lithium Project located in Nevada, the Sheep Creek Rare Earth Project located in Montana, the Haynes Cobalt Project located in Idaho, the Lemhi Pass Rare Earth Project located in Idaho and the Long Canyon Uranium project located in Idaho. A significant percentage of the world’s critical metal and rare earth supply comes from nations with interests that are contrary to those of the US. USCM intends to explore and develop mineral resources with near- and long-term strategic value to the advancement of US interests.
For further information please contact:
Chief Executive Officer and Director
US Critical Metals Corp.
Telephone: 1-786 633-1756
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This news release contains certain information that may be deemed “forward-looking information” with respect to the Company within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward looking information contained in this press release may include, without limitation, exploration plans and expected exploration results at the Property, results of operations, and the expected financial performance of the Company.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relationships with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.
The forward-looking information contained in this press release represents the expectations of USCM as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While USCM may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.