Vancouver, British Colombia (February 2, 2023) – US Critical Metals Corp. (“USCM” or the “Company”) (TSXV: USCM, OTCQB: USCMF; FSE: 0IU0) is pleased to announce that the detailed mapping, sampling and initial geologic cross sections completed over the Clayton Ridge Lithium Project (the “Project” or “Clayton Ridge”) suggest robust thicknesses of lithium bearing units. The Project is located in Esmeralda County, Nevada and spans a total of approximately 3,600 acreages within the Clayton Valley region, which is the only lithium producing region within the United States (the “US”). USCM has the right to a 100% interest in the Project.
Mapping shows 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. In addition, cross sections on the northern portion of the property suggest that lithium bearing units have thicknesses in excess of 100 meters (Sections 4,171,200N & 4,172,000N). All sections suggest that the mineralized units extend to the east, with mineralization open in that direction. Anomalous lithium samples from earlier sampling and mapping campaigns of airfall tuffs may add substantial thickness to the mineralized package on the property. In some cases, the estimated thickness of the mineralized package could exceed 200 meters.
The five cross sections are the vertical interpretation of the surface geological map (see below). Each section is uniquely identified by its UTM northing coordinate (e.g., 4,171,200N) and the length of the black line associated with it. These are the interpretation of the geology at depth and will aid in the generation of a drill plan. The sections suggest that the lithium-bearing units tend to thicken from south to north. Furthermore, the lithium-bearing units extend for approximately a kilometer from east to west as shown on the sections. However, drilling will ultimately determine the true thickness and lateral extent of the lithium-bearing units.
Additional exploration is still needed to confirm the current working hypothesis. Nonetheless, the current results strongly suggest a robust and large lithium bearing system. USCM is currently initiating the permit process in order to drill the Project. The Company will be forthcoming with further details in this regard.
Mr. Darren Collins, Chief Executive Officer and Director of USCM, comments: “Our work programs have produced encouraging results in terms of defining a potential lithium deposit over a broadly distributed area. We will now make the required filings to permit the Project for drilling and look forward to testing the defined structures with the objective of substantiating the results associated with the sampling, mapping and geologic cross sections.”
Robert J. Johansing, BSc (geology), MSc (economic geology), who is a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (the “QP”), mapped the clay beds at Clayton Ridge to define the geologic environment and the presence of the noted mineralization. The scientific and technical information contained in this news release has been prepared by the QP. This included a review 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 “Project”) 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 Project 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 Project is comprised of 180 unpatented lode mining claims, covering 3,600 acres, with easy driving access to all claims. The Project 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
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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 Project, 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.