New America Energy Announces Gravity Survey Results for Clayton Ridge Lithium Project
LAS VEGAS, Jan. 10, 2012 /PRNewswire/ — New America Energy Corp. OTC: NECA New America Energy or (the “Company”) is pleased to announce the completion of the first phase of exploration on the Company’s Clayton Ridge lithium prospect. The survey, organized by GeoXplor Corp and completed by Hasbrouck Geophysics Inc, has provided positive results.
A total of 136 separate gravity stations were acquired along 11 profiles, at nominal station spacing’s of 400 meters and line spacing’s of 650 meters.
GRAVITY SURVEY ALLOWS ESTIMATION OF BASEMENT DEPTH AND EXISTENCE OF A CLOSED BASIN SUITABLE FOR ACCUMULATION OF LITHIUM-BEARING BRINES
RESULTS SHOW BASEMENT DEPTHS EXCEEDING 2000 METRES FROM THE SURFACE
Interpretation of the modeled gravity data indicates a large topographic low, or basin, that is closed over a wide range of depths to the south and is also closed to the north but only at greater depths. This basin area may be favorable for the accumulation of lithium-bearing brines, but additional investigations need to be conducted. Dark gray rhyolitic tuffs are thought to be the source of lithium in the Clayton Valley region and are present north of the gravity survey area along Clayton Ridge. Near the northern edge of the gravity survey area and further north are rhyolitic tuffs that appear to have been altered, perhaps leached, due to their buff versus dark gray color. Additional geophysical surveys will further determine the structure of the basin identified in this survey; determine the possible relationship of the basin to outcropping, buff colored rhyolitic tuffs; and map the presence, dip and continuity of conductive zones within the basin.
Rick Walchuk, President and CEO of New America Energy, commented, “The results from the gravity survey are extremely encouraging as they indicate a bull’s eye anomaly and define a basin capable of hosting potentially significant resources of lithium.”
FORWARD LOOKING STATEMENT
This announcement is not an offer to sell any New American Energy Corp. (“NECA”) shares or related securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of NECA may contain “forward looking statements.” Such forward looking statements are identified by words such as “intends,” “anticipates,” “believes,” “expects,” and “hopes” and includes, without limitation, statements regarding the resource potential of the Clayton Ridge property, the existence of a commercially viable lithium deposit or further exploration on the property. Forward-looking statements express our expectations or predictions of future events or results. They are not guarantees and are subject to many risks and uncertainties. There are a number of factors beyond our control that could cause actual events or results to be significantly different from those described in the forward-looking statements. Any or all of our forward-looking statements in this report or in any other public statements we make may turn out to be wrong. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.
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SOURCE New America Energy Corp.