Vancouver, BC – November 2, 2022 – Scotch Creek Ventures Inc. (OTCPK: SCVFF) (CSE: SCV) (FSE: 7S2) (www.scotch-creek.com (the “Company”) (“Scotch Creek” or the “Company”), is pleased to announce the commencement of the Phase I drill program on the 100% owned Highlands West Lithium Project (“Highlands”).
The Highlands project is directly adjacent to Albemarle’s Silver Peak lithium mine, North Americas only producing lithium operation. Recent positive geophysics results from the detailed gravity, seismic, and Hybrid-Source Audio-Magnetotellurics (HSAMT) surveys identified key subsurface features within the central area of the Highlands property, subsequently triggering the company’s decision to expand the Highlands claims by an additional 400 acres and design the phase one drill program.
The combined results of the comprehensive geophysical survey carried out at Highlands show a subsurface dominated by strongly layered basin-fill units. These highly prospective sedimentary rocks are interpreted to be claystones, mudstones and volcanic beds which have accumulated in a series of fault-bounded basins underlying the property.
“We are extremely pleased to have commenced the very first drill program on our highly promising Highlands lithium project,” said Mr. David Ryan, Scotch Creek’s CEO. “This is the first detailed exploration program within the Western portion of the Clayton Valley. The exploration goals are to drill a large diameter core, through well-layered sequences of basin fill stratigraphy, as seen in our previously collected seismic data. The collected core and groundwater samples will then be logged and assayed with the prospect of discovering a significant lithium deposit.”
Key Highlights of the Phase I Drill Program
- The drill program will target both lithium brine and claystone.
- 6 high-quality drill targets were identified.
- Phase one drilling will occur on 3 targets for an estimated 6,000 feet total.
- PQ core drilling & water sampling.
Scotch Creek’s Qualified Person, Mr. Robert D. Marvin, commented, “Our seismic data to date shows that flat lying to structurally tilted and warped well-layered units are covered with recent gravels being shed off from the Silver Peak Range and to the West of the Clayton basin. The cover gravels are less than 300 feet thick based on the interpretation of the seismic data. The drill targets we have identified lie within the interpreted evaporative basin-fill sediments lying below these surface gravels, at depths ranging from 300 to 1700 feet below the surface. The planned boreholes have numerous targets, including thick packages containing dozens of sharp reflectors over intervals of 500 to 700 feet. This exploration will allow the Scotch Creek team to examine and sample the drill cores and test the groundwater in detail.”
The Highlands property spans 318 placer claims, totaling 6,360 acres, and is located on the southeast side of southern Clayton Valley and can be accessed by paved roads from Tonopah and Goldfield.
The Clayton Valley is a lithium brine district hosted within the Esmeralda Formation, a sequence of lake basin-fill rocks that contain zones of volcanic ash-rich stratigraphy and salty evaporite units. Regionally, these Esmeralda rocks are of late Miocene to early Pleistocene age, in the range of 1 million to 5 million years before present. The Albemarle brine production field at Clayton is sourced from weakly to non-lithified volcanic ash horizons which have high porosity.
Scotch Creek would like to invite investors and stakeholders to connect with our investor relations team or visit our website to sign-up to receive regular updates and news alerts.
About Scotch Creek Ventures
Scotch Creek is a mineral exploration company, focused on the acquisition, exploration, and development of lithium projects located in tier-one mining jurisdictions such as Nevada, USA. Scotch Creek’s vision is to secure North America’s green revolution future with strategically sourced lithium projects.
On behalf of the Board of Directors
“David K. Ryan”
Chief Executive Officer
Further information about the Company is available on our website at www.scotch-creek.com or under our profile on SEDAR at www.sedar.com, and on the CSE website at www.thecse.com.
Public Relations Contact
Scotch Creek Ventures Inc.
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Forward‐looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.
This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.
SOURCE: Scotch Creek Ventures Inc.