VANCOUVER, BC – October 15, 2018– United Battery Metals Corp. (CSE: UBM, OTC PINK: UBMCF, FWB: 0UL) (“United Battery Metals” or the “Company”) is pleased to announce that it has more than tripled its original land position in the Wray Mesa region from approximately 900 acres to over 3,000 acres. The Wray Mesa project, located on the Colorado Plateau is situated in westernmost Colorado and eastern Utah and is located within the vanadium-rich Uravan Mineral Belt in the Colorado Plateau. Wray Mesa is also situated within the prolific La Sal Creek Mining District, a district well-known for its anomalously-high vanadium to uranium ratios.
The Company’s initial Wray Mesa land position included 45 claims totaling 900 acres in Montrose County, Colorado. Newly-acquired claims, through staking, include more than 90 claims in Utah and an additional 17 claims in Colorado. This brings the total land package to more than 3,000 acres, all of which is a contiguous land holding and 100% held by the Company. The staking follows a complete review and compilation of all historical data available for the Wray Mesa, which led the Company to identify new areas for further exploration.
The configuration of the land package has a dominant east-west orientation, parallel to the mineralization trend of the La Sal Creek Mining District and extending westward toward the town of La Sal and La Sal Junction. It has long been known that the vanadium occurrences in the La Sal Creek Mining District have an east-west orientation and this new land acquisition takes advantage of that trend and targets two areas of known historical mineralization that have not been mined.
In these newly-acquired claims, there is an area of mineralization named ‘Whiskey’. Historic drill intercepts at Whiskey included 5 feet of 0.98% U3O8 equivalent (in drill hole WM-260-80) and 1.5 feet of 2.40% U3O8 equivalent in drill hole WM-376-80. Uranium is used as a very helpful proxy in the search for vanadium on Wray Mesa as the ratio of vanadium to uranium is typically 6:1. Holes drilled in 2007 and 2008 by Anthony Kovschak intersected 3.0 feet of 0.45% eU3O8 and 2.0 feet of 0.26% eU3O8 in the immediate vicinity.
In addition to the newly acquired claims, the Company is continuing to explore and plan a drill program on its original Wray Mesa project. As per the NI 43-101 Technical Report on the Wray Mesa Uranium Property, Montrose County, Colorado, USA, completed on July 29, 2013 (available on Company’s website and SEDAR), previous drill results indicate that there is an indicated resource of approximately 85,500 short tons at an average grade of 0.16% eU3O8 for a total of 271,000 pounds of contained uranium. Inferred resources total 57,400 short tons at an average grade of 0.15% eU3O8 for a total of about 169,000 pounds of contained uranium. The vanadium occurrence for the two categories, listed for interest only, and based on a conservative V:U ratio of 6:1 would be 1,626,000 (0.95% avg. grade) and 1,014,000 (0.88% avg. grade) pounds respectively.
“We are very excited to increase our exploration footprint in this strategic part of the Colorado Plateau”, said President and CEO, Matthew Rhoades. “With this land acquisition, we are able to fully leverage the deep understanding that our Director, Anthony Kovschak, CPG, has of the underlying geology and ore bodies at Wray Mesa. Anthony Kovschak has direct working experience in this immediate area and actively explored it a decade ago. Anthony Kovschak has more than 40 years of experience working in this area of eastern Utah and western Colorado. We have a very strong understanding of the geology in the area as well as the right team to move this project forward. This expansion signals our commitment to exploration in the area and we look forward to expediting our exploration efforts and advancing regional relationships.”
Because of these initial results, the Company is encouraged to rely on its local expertise and to shall continue its drill program on Wray Mesa.
Further to the Company’s press release dated September 24th, 2018 the Company has retained the services of an additional service provider for market awareness. The Company has engaged Native Ads Inc., an arm’s-length service provider to the Company, which does not directly or indirectly own any of the Company’s securities.; The company has paid Native Ads Inc. the amount of $250,000 USD.
Mr. George Sharpe, P. Geo., director of the Company, is the Qualified Person as defined under NI 43 – 101. Mr. Sharpe has reviewed and approved the scientific and technical information in this news release.
The Company’s common shares trade on the OTC Markets Group Inc.’s over-the-counter market in the United States and are DTC eligible with the Depository Trust Company (DTC), under the symbol UBMCF.
ON BEHALF OF THE BOARD OF
UNITED BATTERY METALS CORP.
/s/ Matthew RhoadesMatthew Rhoades
Chief Executive Officer and Director
For further information, please telephone: (604) 428-9063
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws, including statements relating to the outlook of the business of the Company, the Company’s intention to explore and develop the Wray Mesa Property, the results of any such exploration and development, and working with Native Ads Inc. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this news release are made as of the date of this release. Except as required under applicable securities legislation, the Company undertakes no obligation to update or revise forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
SOURCE: United Battery Metals Corp.