Mesa Uranium Acquires Lithium Project
Posted on: Wednesday, 4 November 2009, 08:00 CST
TSX Venture: MSA
Lithium occurs at the project over an extensive area with values as high as 1,700 ppm lithium (0.9% Li2CO3) in saturated brine. The brine was discovered in the 1960s when oil exploration wells encountered blow-outs drilling into Bed #31 of the Paradox Formation. The pressurized free-flowing brine interrupted drilling operations and was considered a nuisance, rarely chemically analyzed or flow-rate tested. Over twenty oil exploration wells have been drilled on the Green Energy project; five of these wells have analytical data for lithium. Below is a summary of this data:
------------------------------------------------------------------------- Li2CO3 Annual Well Name Lithium (ppm) Gallons Per Day Tons ------------------------------------------------------------------------- WC #2 1,700 491,000 8,786 ------------------------------------------------------------------------- SNG #1 500 Adjacent to WC #2 Not Determined ------------------------------------------------------------------------- KO #2 173 3 Miles North of PO #1 Not Determined ------------------------------------------------------------------------- PO #1 134 1,356,000 1,911 ------------------------------------------------------------------------- BF #2 81 50,400 43 -------------------------------------------------------------------------Lithium brine mines are more economic to mine and process than conventional open-pit or underground mines. Given the favorable climate of the area solar evaporation can be used to concentrate the brine to enhance project economics. World-class lithium brine mines range in grade from 150 ppm to 1,200 ppm lithium and employ proven solar evaporation concentration techniques.
Mesa is currently evaluating all available recent and historic exploration drilling logs. A professional engineering firm will be engaged to evaluate drilling data, reservoir potential and extraction methods at the Green Energy project.
While the Company has no reason to doubt the accuracy of the historical results, the data should not be relied upon until confirmed by the Company's own exploration. Historical results and the work that generated them pre-date the enactment of National Instrument 43-101 and accordingly may not meet the requirements of that policy. There are no 43-101 mineral reserves or mineral resources on the Green Energy lithium project. The potential quantity and grade indicated above is conceptual in nature and has been provided only for illustration purposes.
About Lithium
Lithium is used for batteries, specialty glass, lubricants, pharmaceuticals and lithium alloys. Lithium ion (Li-ion) batteries have become the rechargeable battery of choice in cell phones, computers, hybrid-electric cars and electric cars. GM, Ford, Toyota, Dodge, Chrysler, Mitsubishi, Nissan, Tesla, Saturn and Mercedes-Benz have all announced plans to build Li-ion battery-powered cars. Demand for lithium-powered vehicles is expected to increase fivefold by 2012. The domestic automotive industry must secure a lithium source to supply the next generation of hybrid-electric and electric vehicles. Over 60% of cell phones and 90% of laptops use lithium batteries. The worldwide market for lithium batteries is estimated at over
About Mesa Uranium
Mesa explores and develops mineral properties focused in the western
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.SOURCE Mesa Uranium Corp.
Source: PR Newswire
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