First Liberty Power Corp. Announces Gravity Survey Results for Smoky Valley Lithium Project
LAS VEGAS, July 30, 2012 /PRNewswire/ — First Liberty Power Corp. (OTC: FLPC) (the “Company”) is pleased to announce the results for the next phase of the exploration on the Company’s Smoky Valley Property (“SV Claims”). A gravity survey organized by GeoXplor Corp and recently completed by Hasbrouck Geophysics has produced several positive outcomes.
A total of 116 separate gravity stations were acquired along seven profiles, and interpretation of the modeled gravity data indicates there is a large topographic low, or basin, that looks to be closed off to the south but so far remains open to the north. This large extensive basin area appears to indicate the potential accumulation of lithium-bearing brines, which will be the focus of the Company’s next stage of exploration work.
To further define the indicated basin closure, the Company’s existing gravity survey will be extended slightly to the west and east and one additional line will be undertaken one kilometer south. Further, a minimum of two additional lines will be taken to the north, separated by one kilometer each, to better determine northern basin closure. Immediately subsequent to the completion of this supplemental gravity survey work, the survey team will begin controlled-source audio-magnetotellurics / magnetotellurics (CSAMT/MT) surveys which will be conducted in selected areas based on the gravity survey conclusions. The CSAMT/MT surveys are used to determine if conductive zones indicative of lithium-bearing brines are present and, if so, to map the dip and continuity of those aquifer beds.
Don Nicholson, CEO and President of First Liberty Power Corp., commented, “I am very pleased with the encouraging exploration results on the SV Claims, which to date are validating our expectation that both Lida Valley and Smoky Valley are very prospective for having a significant lithium brine resources. GeoXplor Corp. and Jim Hasbrouck have previously completed significant amounts of work for us on our Lida Valley property, and with their extensive regional knowledge, the Company is very confident in achieving equally positive outcomes for Smoky Valley. As CEO, I am in constant communication with the exploration team and the Board of Directors of First Liberty Power Corp. with a focus and determination to provide timely updates to shareholders as the Company’s as exploration program advances through its planned stages.”
The SV Claims are located approximately 5 miles northwest of the Chemetall Foote (now Rockwood Lithium) operation in Silver Peak, Nevada, which is the only producing lithium brine operation in North America. In the 1970′s the US Geological Survey (“USGS”) conducted a gravity survey covering Clayton Valley and the valley connecting Clayton Valley to Big Smoky, where the SV Claims are located. The USGS survey map demonstrated a noticeable relationship between the brine field in Clayton Valley and the deepest parts of the Smoky Valley. The map proposed to the surveyors that there is a height of bedrock between the SV Claims and Clayton Valley which could act as a barrier for water moving from Big Smoky Valley to Clayton Valley.
First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium exploration and development in the United States. The Company is positioned to capitalize on the anticipated increase in demand for lithium carbonate that is projected to result from the acceleration of the adoption and use of clean renewable energy products that utilize lithium-ion batteries.
Notice Regarding Forward-Looking Statements
This current report contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the final outcome Lida Valley and Smokey Valley exploration / work programs, the specific nature and extent of the next phase of our exploration program, our ability to raise the necessary capital to complete our exploration program, and any mineralization, exploration and development of our mineral properties, specifically in regards to Lithium.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE First Liberty Power Corp.