These articles are speculation, just looks like a fit with Jason and associates.
VANCOUVER, Nov. 19, 2013 /CNW/ – Pure Energy Minerals Limited (“Pure” or the “Company”) (TSXV: PE) is pleased to announce that is has executed a Memorandum of Understanding (the “MOU”) with privately owned GeoXplor Corp. (“GeoXplor”) setting the key terms for the definitive agreement whereby the Company has the right to acquire a 100% interest in 71 placer mining claims known as the CV and DB claims (the “Property”) located in Clayton Valley, Esmeralda County Nevada.
Proposed Transaction:
- Pure agrees to pay GeoXplor a CDN $40,000 non-refundable deposit for the exclusive right, expiring Feb 25, 2014 to conduct a due diligence review on the property and to negotiate the final terms and conditions in a formal agreement (the “Definitive Agreement”) which is to be executed no later than February 25 th , 2014 (the “Effective Date”).
- Pure will pay to GeoXplor the sum of CDN $100,000 on the date of execution of the Definitive Agreement and$250.000 on the succeeding first, second, third and fourth anniversary of the Effective Date.
- On the Effective Date, Pure will issue to GeoXplor 1,000,000 common shares of Pure, on each of the first, second, third and fourth anniversary dates Pure will issue GeoXplor 1,462,500 common shares of Pure
- Pure will incur exploration expenditures of US$$750,000 on or before the first anniversary of the Effective Date, an additional US$1,000,000 on or before the second anniversary of the Effective Date, an additional US$2,000,000 on or before the third anniversary of the Effective Date, on or before the fourth anniversary of the Effective Date, Pure shall either have prepared and delivered to GeoXplor a “pre-feasibility study” (as the term is defined in National Instrument 43-101 Standards of Disclosure for Minerals Projects adopted by the Canadian Securities Administrators (“NI-43101?)) in respect to the property of have commenced commercial production on the Property.
- If at any time Pure, its assignee or its third party joint venturer delivers a positive feasibility study (as that term is defined in NI 43-101) or a production permit is issued in respect of all or a portion of the Property, Pure will pay to GeoXplor and additional US $2,000,000 in cash or shares of Pure at the election of GeoXplor.
- On or before the fifth anniversary Pure shall pay a US $250,000 advance royalty and on each subsequent anniversary of the Effective Date. All such advance royalty payments paid by Pure will be credited towards the Royalty due to GeoXplor.
- Upon satisfaction of the requirements of this MOU, Pure have acquired a 100% interest in the property subject to a 5% royalty.
The above proposed transaction is subject to the completion of the Definitive Agreement by the parties and receipt of all required regulatory approvals to the transaction.
In 2010 previous exploration drilling confirmed extended lithium enriched brines at depth on the Property. Two reverse circulation drill holes, 2.3KM spaced, intersected the anticipated target horizon at 145 m depth up to 317 m drilled depth with respect to lithium values larger than 100 mg/L in 2010. Their sample results showed values of lithium (“Li”) ranging from 100 mg/L to 400 mg/L with Li values of 370 mg/L over 30m , and Li values averaging of 285 mg/L over 145m of intersection. The mineralized zone is immediately south of the current lithium producing property in Silver Peak, NV. (source: http://rodinialithium.com/news/index.php?&content_id=130 and http://rodinialithium.com/news/index.php?&content_id=99 ).
A deeper situated second horizon is expected below the above mentioned zone, however it has not been drill tested yet.
On neighboring properties to the West and North West, controlled by Rockwood Lithium Corporation lithium is economically produced from deep seated lithium brines, assumingly the same horizon, since 1966 with average grades ranging from 100 – 300 mg/L.
With the addition of the CV and DB claims Pure has expanded its opportunity in Nevada to over 7,000 acres. In 2012 a geophysical survey by Pure on their Alkali Flats (“AF”) claims indicated similar drill targets. Pure Energy plans to drill test all the potential zones in their upcoming drill program slated for next year.
Qualified Person:
This release has been reviewed and approved by Gerhard Jacob, M.Sc., EurGeol., Pure Energy Minerals Limited, Consulting Geologist – a Qualified Person as defined by National Instrument 43-101.
About Pure
Pure Energy Minerals Limited (TSX-V.PE) is an innovative hybrid lithium exploration and processing technology company based in Vancouver, British Columbia. PURE is fully engaged in the acquisition, exploration and development of innovative mineral processing technologies to test and develop in conjunction with prospective lithium mineral properties.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
We Seek Safe Harbour
On behalf of the Board of Directors
Robert Mintak, CEO
SOURCE Pure Energy Minerals Limited
For further information:
Email: info@pureenergyminerals.com
Phone: 604-608-6611 Ext 3
Posted in News .
VANCOUVER, Nov. 5, 2013 /CNW/ – Pure Energy Minerals Limited. (TSX-V.PE) (“ PURE “). Further to PURE’s news release of June 12, 2013 announcing the execution of a non-binding letter of intent (the “ LOI “) by PURE and Pathion Inc. (“ PATHION “) to complete a transaction that would result in PURE and PATHION combining business operations (the “ Transaction “), the parties have agreed to extend the date by which the obligations set out in the LOI, including signing of an arrangement agreement must be completed, to December 31, 2013.
Completion of the Transaction is subject to a number of conditions, including, but not limited to, TSX Venture Exchange acceptance (the “ Exchange “) and if applicable pursuant to Exchange requirements, shareholder approval. If shareholder approval is required, the Transaction cannot close until it is obtained. The Transaction is also subject to standard closing conditions, including the approval of the directors of each of PURE and PATHION of the definitive agreement and completion of due diligence investigations to the satisfaction of each of PURE and PATHION. The legal structure for the Transaction will be determined after the parties have considered all applicable tax, securities law and accounting efficiencies.
About PURE
PURE is an innovative junior mining company based in Vancouver, British Columbia, Canada. Currently PURE is focusing its efforts on lithium mining opportunities and related technologies. PURE’s Alkali Flats Project in Esmeralda County Nevada represents approximately 2240 acres in proximity to the Clayton Valley Playa. The area is home to the Silver Peak lithium mine operated by Rockwood Lithium.
About Pathion
Pathion, Inc. is an energy solutions company, headquartered in Los Gatos, California, created to research,develop and commercialize products utilizing its proprietary Advanced Energy Cell technologies,advanced materials, and processes for improving the stability, conductivity, and energy density of materials used in energy devices. Pathion’s technology and processes are based upon certain advanced materials developed at, and obtained from, one of the leading national research institutions in the United States.
We seek Safe Harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Pure Energy Minerals Limited
For further information:
Suite 1780 – 355 Burrard Street
Vancouver, BC
V6C 2G8
Telephone: (604) 608-6611
Facsimile: (604) 608-6620
Posted in News .
ANCOUVER, Sept. 3, 2013 /CNW/ – Pure Energy Minerals Limited (TSXV: PE)(“ Pure Energy ” or the “ Company “) is pleased to provide an update for our Alkali Flats Lithium Brine Project (“ AF Claims ” or “ AF Project “), located inEsmeralda County Nevada.
The Company’s management would like to take this opportunity to provide an update on our current status and plans leading up to the year end of 2013. Despite challenging times in the global capital markets, and in particular the mining sector, we have remained busy advancing our AF Project.
The Company has received approval from U.S. Bureau of Land Management (“ USBLM “) for its initial drilling program on the AF Project. The Notice of Intent to conduct exploration drilling was submitted to USBLM on February 19, 2013and approved on March 11, 2013. The initial exploration well is designed to test specific targets identified by the geophysical surveys. Based on the success in finding brine aquifers and anomalous lithium contents, additional exploration including reflective seismic and further drilling is planned to expand on the information about hydrogeology and lithium mineralization that might be discovered.
The Company is pleased to announce it has paid its annual USBLM maintenance fees for its AF Claims; the Company has also optimized its claim holdings to significantly reduce its maintenance fee costs while retaining all claims representing planned drilling targets and all areas of significant exploration interest. The new property holdings now consist of 2,240 acres, 4 claims of 160 acres, 24 claims of 40 acres and 16 claims of 40 acres. Additionally, the Company has made all required payments to GeoXplor Corp. in accordance with the option agreement with GeoXplor Corp. on the AF Claims.
Update on Project Financing
The Company has had numerous parties review its AF Project and have had extensive due diligence discussions with Company management and the Advisory Committee.
Despite the difficult financing climate facing the global junior resource sector, the Company is pleased to report that it has generated strong and continuing interest from a number of potential partners (based in Asia and our previously announced relationship with Pathion, Inc.) that are in various stages of due diligence. The Board remains optimistic that this level of interest in the Company and its projects will attract the required investors and potential strategic partners required to advance its exploration program on the AF Project.
New project opportunities and lithium processing technologies are also being considered as part of our ongoing review of the Company and its short and medium term strategy, with a number of opportunities currently under technical review.
Pure Energy’s CEO Robert Mintak comments “I am happy to report that the Company has been very active these last few months in our discussions with potential strategic partners that may prove key to our project financing. I am hopeful to be in a position to provide more specific details on these talks and additionally possible processing technology licensing opportunities in the near future. ”
About Pure Energy
Pure Energy Minerals Limited is an innovative junior mining company based in Vancouver, British Columbia, Canada. Currently Pure Energy is focusing its efforts on lithium mining opportunities and related technologies. The Company’s Alkali Flats Project in Esmeralda County Nevada represents approximately 2240 acres in proximity to the ClaytonValley Playa. The area is home to the only U.S. based lithium producing plant, the Silver Peak plant operated by Rockwood Lithium.
We seek Safe Harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
