First Liberty Power Announces Positive Exploration Results and Plans for Next Stage Drilling Program
LAS VEGAS, April 7, 2011 /PRNewswire/ — First Liberty Power Corp. (OTCBB: FLPC) (the “Company”) www.firstlibertypower.com is pleased to announce the latest reports from its controlled source audio magnetotellurics / magnetotellurics (“CSAMT/MT”) geophysical survey of the Company’s Lida Valley Lithium brine project (the “Property”) in Nevada, USA. As with the previous two geophysical surveys conducted over the past year, the results from this latest report are very positive, and include having identified areas of potential lithium brine deposits.
The CSAMT/MT survey was carried out by Hasbrouck Geophysics with the purpose of mapping geologic stratigraphy and structure relative to the occurrence of lithium brine, to identify conductors that are thought to be representative of lithium-bearing brine, and to provide information for the selection and design of additional geophysical surveys or the identification of drilling locations.
Collectively, the three reports show several clear targets for further exploratory investigations. Drilling targets in both the southern end of the Property and in the northern area of the playa have been located. The complete reports from Hasbrouck Geophysics from all exploration stages on the Property are currently available at http://www.firstlibertypower.com/properties/nevada.
Don Nicholson, CEO and President of First Liberty Power, stated, “The most recently obtained data has identified and delineated numerous significant anomalies. Of particular interest is the identification of several areas showing areas of low resistivity in both the southern and northern portions of the Property. Based on these results, correlated with our prior mapping, the Company has made the determination that a drilling program is clearly warranted, and we are presently working with Hasbrouck Geophysics and GeoXplor to implement the final phase of our resource delineation program.”
The majority of the world’s lithium production comes from brines, or salt lakes, where prospective lithium mineralization is generally hosted in brine horizons. CSAMT/MT is an electromagnetic (EM) geophysical method commonly used in the exploration industry. It determines the earth’s subsurface electrical resistivity distribution by measuring time dependent variations of the earth’s natural electric (E) and magnetic (H) fields, as well as the electric and magnetic fields resulting from high frequency induced waves. The resistivity information is generally used to determine subsurface geologic and hydrogeologic conditions and structure. The CSAMT/MT method is designed to investigate from depths of approximately 10 to 1000 meters, or greater, depending upon subsurface resistivity values. Lower resistivity values will decrease the investigation depth while higher values will generally result in greater depths of investigation.
The Company is also pleased to confirm the successful completion of its re-audit, which requirement ensued from external circumstances completely unrelated to the Company or the quality of its financial statements. Mr. Nicholson further comments, “The consummation of this particular matter, combined with our recent positive exploration results, now put us in a position of anticipating a very productive summer of aggressive and progressive field work to bring us to the next stage in our development.”
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 exploration / work programs, 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.