Friday 26th May 2017

Resource Clips


Posts tagged ‘Equitorial Exploration Corp (EXX)’

Equitorial Exploration expands Utah lithium claims

May 24th, 2017

by Greg Klein | May 24, 2017

Pleased with geophysical results from its Tule Valley lithium project in Utah, Equitorial Exploration TSXV:EXX has increased its holdings to take in the entire Tule Valley Basin. A ground gravity survey shows “the Tule Valley fill has a depth of over 500 metres in the western portion of the property” and “the valley fill deepens further than 500 metres heading east from the current claim blocks,” Equitorial stated.

Equitorial Exploration expands Utah lithium claims

As a closed basin, Tule Valley might
host an extremely mineralized brine.

As a result the company staked another 1,092 hectares, expanding the property to about 2,792 hectares. Equitorial plans to drill the property this season.

The company also has discussions underway with other parties to assess methods of extracting metals from water.

Equitorial characterizes the Tule Valley as a closed basin in which surface water and groundwater flowing into the basin have no escape route. Surface evaporation leaves minerals dissolved in brines and evaporation pools. In that respect Tule Valley might be similar to Nevada’s Clayton Valley, the company added.

The road-accessible property sits about 190 kilometres from Salt Lake City.

Equitorial’s two other lithium projects include the Gerlach property in Nevada, which the company describes as an under-explored closed basin “in an area structurally comparable to that of Clayton Valley.” In the Northwest Territories, the company holds the Little Nahanni Pegmatite Group property, for which Equitorial filed a 43-101 technical report last March.

Equitorial Exploration closes acquisition of two western U.S. lithium properties

April 7th, 2017

by Greg Klein | April 7, 2017

With the deal now complete, Equitorial Exploration TSXV:EXX builds a portfolio of lithium properties. The company picked up the Tule Valley project in Utah and the Gerlach property in Nevada by paying Umbral Energy CSE:UMB $50,000 and two million shares, as well as assuming a payment of $100,000. A 2% NSR applies to both properties.

Equitorial Exploration closes acquisition of western U.S. lithium properties

The under-explored Gerlach property might
host structural similarities to Clayton Valley.

Umbral described Tule Valley as a closed valley several kilometres south of lithium source rocks, with active groundwater flow along its western margin. The property “has been affected by evaporate-style processes,” the company stated. “Tule Valley may therefore be conducive to the presence of lithium-bearing groundwater. In this respect, Tule Valley has similar characteristics to Clayton Valley, Nevada, a dry lake bed where lithium is derived from brines located within more porous sediment layers at depth under playa.”

As for Gerlach, also known as the San Emidio project, Umbral characterized it as an under-explored closed basin “in an area structurally comparable to that of Clayton Valley, being bounded by normal faults to the east and west of the property and surrounded by volcanics such as rhyolitic flows and tuffs.”

In March Equitorial filed a 43-101 technical report for its Little Nahanni Pegmatite Group property in the Northwest Territories, a hardrock project that underwent sampling last year. This year’s LNPG program could include resampling previous core, mapping, prospecting, channel sampling and drilling.

Equitorial Exploration files 43-101 for NWT lithium project

March 17th, 2017

by Greg Klein | March 17, 2017

Citing highly encouraging results, a 43-101 technical report has been completed and filed for Equitorial Exploration’s (TSXV:EXX) Little Nahanni Pegmatite Group property in the Northwest Territories.

Equitorial Exploration files 43-101 for NWT lithium project

LNPG’s mountainous terrain could undergo drilling this year.

Also referred to as LNPG or the Li property, the project underwent sampling last year, with results reported in October and September.

Field work traced lithium-cesium-tantalum pegmatite dyke swarms over a combined length of 13 kilometres on the property’s mountainous terrain, the company stated. The dykes’ vertical extent has been traced for 300 metres through natural exposure and drilling in 2007. “Where sampled, each dyke swarm is up to 52.6 metres wide and contains multiple dykes that range from 0.2 to 10 metres in width.”

This year Equitorial anticipates resampling the 2007 core, drilling, channel sampling, mapping and prospecting.

Located in the southern NWT just east of the Yukon border, LNPG sits about 30 kilometres from the former Cantung tungsten mine. In addition to the NWT hardrock project, Equitorial has begun the acquisition of two lithium brine projects in Utah and Nevada, proximal to the Tesla Gigafactory #1.

Equitorial Exploration reports lithium specimen samples from southwestern NWT

October 20th, 2016

by Greg Klein | October 20, 2016

Following up on channel samples announced last month, Equitorial Exploration TSXV:EXX released three specimen samples from its Li lithium project in the Northwest Territories on October 20. The samples come from the property’s lithium-cesium-tantalum pegmatite dyke swarms, showing:

  • 2.85% Li2O, 28.1 g/t Ta2O5 and 0.05% SnO2

  • 1.85% Li2O, 53.4 g/t Ta2O5 and 0.05% SnO2

  • 1.36% Li2O, 55.8 g/t Ta2O5 and 0.11% SnO2
Equitorial Exploration reports lithium specimen samples from southwestern NWT

Rugged terrain as well as dyke swarms
characterize Equitorial Exploration’s Li property.

The dyke swarms have been traced over a combined length of 13 kilometres on mountainous terrain, the company noted. Sampled portions of the swarms are up to 52.6 metres wide, with each swarm containing multiple dykes ranging from 0.2 to 10 metres’ width.

The company’s now acquiring satellite images to help map the dyke swarms and create a 3D model. Plans for next spring include retrieving 2007 core for re-logging and reprocessing. The following summer Equitorial anticipates a program of drilling, channel sampling, mapping and prospecting.

Hosting the Little Nahanni pegmatite group, the Li property sits 30 kilometres from the former Cantung mine, in the southern NWT just east of the Yukon border.

Equitorial Exploration releases NWT lithium channel sampling results

September 6th, 2016

by Greg Klein | September 6, 2016

Having acquired the Li lithium project in July, Equitorial Exploration TSXV:EXX announced results from the 2016 field program on September 6. Located just east of the Yukon border and 30 kilometres from the Northwest Territories’ former Cantung tungsten mine, the property hosts the Little Nahanni pegmatite group.

“Lithium-cesium-tantalum pegmatite dyke swarms on the Li property have been traced over a combined length of 13 kilometres in mountainous terrain that is deeply incised by several east- or west-facing cirques,” the company stated. The following highlights came from 81 channel samples up to 52.6 metres wide from dyke swarms called Prison Wall, Berlin Wall and Great Wall of China:

Equitorial Exploration releases NWT lithium channel sampling results

Prison Wall

  • 1.57% Li2O, 250.3 g/t Ta2O5 and 0.95% SnO2 over 1.7 metres

  • 2.33% Li2O, 59 g/t Ta2O5 and 0.05% SnO2 over 1.2 metres

Berlin Wall

  • 2.04% Li2O, 57.8 g/t Ta2O5 and 0.5% SnO2 over 4 metres

  • 3.1% Li2O, 53.6 g/t Ta2O5 and 0.03% SnO2 over 0.95 metres

Great Wall of China

  • 1.67% Li2O, 41.4 g/t Ta2O5 and 0.03% SnO2 over 3.75 metres

  • 1.83% Li2O, 67.3 g/t Ta2O5 and 0.05% SnO2 over 1.25 metres

  • 1.63% Li2O, 52.9 g/t Ta2O5 and 0.01% SnO2 over 5.15 metres

The dykes are “well exposed on cirque walls, but most of these areas are too steep to sample,” Equitorial added. “Fortunately, relatively continuous bedrock exposures are accessible at the base of cliffs on the north and south side of cirques.”

Dating back to 2002, the property’s best interval assayed 1.59% Li2O over 10 metres, but the 2016 program failed to relocate the dyke. Two drill holes from 2007 found 1.2% Li2O over 10.94 metres and 0.92% over 18.27 metres. Rock samples have graded as high as 3.77%, 3.55%, 2.05%, 1.79%, 1.77% and 1.74% Li2O.

The Li property acquisition costs Equitorial 7.5 million shares, 2.5 million warrants, $100,000 towards the 2016 program and a 2% NSR.

In May Equitorial acquired the right to enter a JV with Mag One Products CSE:MDD to fund the construction of Mag One’s extraction facility for lithium and related products. Equitorial also holds the right to JV with Mag One on construction of production facilities for magnesium metal and products.

Cardiff Energy finishes acid treatment on Texas oil well

March 30th, 2016

by Greg Klein | March 30, 2016

Cardiff Energy finishes acid treatment on Texas oil well

Cardiff hopes Clayton #1H will transform the company
from a junior explorer to a junior producer.

Cardiff Energy TSXV:CRS moved closer to commercial oil production as the company reported completion of acid treatment on the Clayton #1H well in west-central Texas on March 30. Work began last month after the company secured a $250,000 line of credit. Some 19,000 gallons of acid were used in nine intervals to stimulate areas of the well bore that had the highest hydrocarbon shows during drilling, Cardiff reported. A pump is now being installed to remove the completion fluid before preparations begin for commercial production.

As the first horizontal well drilled into the Gardiner Lime formation, “all indications are that the Clayton #1H will be a strong production well,” the company stated. The flow rate will be reported once output stabilizes.

“We are looking forward to near-term cash flow and drilling of the next set of horizontal wells in the Runnels County area,” added president/CEO Jack Bal.

Cardiff holds a 70% working interest in Clayton #1H, a joint venture in which Equitorial Exploration TSXV:EXX may earn up to 30%. Cardiff also holds a 100% working interest in the adjacent Bearcat #4.

Cardiff Energy prepares to put Texas well into production

February 5th, 2016

by Greg Klein | February 5, 2016

A $250,000 line of credit will allow Cardiff Energy TSXV:CRS to proceed with acid treatment on the Clayton #1H in west-central Texas and put the well into production. “The acid treatment will use in excess of 20,000 gallons of 15% HCl acid and will selectively stimulate the areas of the well bore that had the most significant hydrocarbon shows during drilling,” the company stated on February 5. Work is scheduled to start the week of February 15.

Cardiff Energy prepares to put Texas well into production

With the Clayton #1H well, Cardiff Energy expects to
transform from a junior explorer to a junior producer.

“Our geologist and team have reviewed the proposal and are confident that the plan will be a great success,” stated president/CEO Jack Bal. “Cardiff is now selecting the location of the next two wells and believes, with the knowledge gained by drilling the Clayton #1H, the next wells will be drilled much cheaper and move faster to the production stage.”

In December the company reported initial Clayton #1H flow rate results of 275 barrels of oil per day without any stimulation to the formation.

Cardiff also announced on February 5 a private placement of up to six million units at $0.05, with each unit consisting of one share and one warrant exercisable at $0.075 for two years. Subject to approvals, insiders will take at least two million units. Proceeds will go to Clayton #1H and general working capital.

Located in Runnels county, Clayton #1H is a joint venture in which Cardiff holds a 70% working interest and Equitorial Exploration TSXV:EXX the remainder. Cardiff has a 100% working interest in the adjacent Bearcat #4.