BoxScore Brands, a U.S.-based renewable energy company, provides an update from its CEO, Andrew Boutsikakis.
Lisbon Valley Brine Project Location (Image Credit: BoxScore Brands Inc.).
- BoxScore has been assessing high-tech components in the western United States, concentrating on lithium mineralization in brines.
- BoxScore has of late acquired a substantial land position in the Lisbon Valley, Paradox Basin area of Utah (the Company’s “Lisbon Lithium Project”), which has an extensive history of gas, oil, and potash brine exploration and production.
- BoxScore has now received a primary technical report on its properties in the Lisbon Valley. This primary technical report, which was carried by an autonomous consulting firm, Peek Consulting, Inc., established that:
“There is abundant evidence from oil and gas and potash wells drilled in the Paradox Basin that indicate that there is a high probability of intersecting supersaturated brines.”
“It is believed that there is a substantial indication that lithium mineralization in brines occurs beneath the subject property.”
“There is also substantial evidence that other valuable minerals besides lithium, such as potassium, magnesium, calcium chloride, bromine, and boron, may be recoverable from the brines, as well.”
- This primary technical report also comprised of two important recommendations that the company will be advancing as swiftly as possible:
Recommendation 1: Given the significant historical data that has been filed with the Utah Geological Survey, the company should commence a more wide-ranging search of this historical information for signs concerning the presence (or absence) of lithium within the Paradox Formation brines.
Recommendation 2: Re-enter one of the current, historical wells situated on the company’s properties for the purpose of assessing and testing the various zones to determine which stratigraphic horizons could perhaps produce brines and which might have the higher lithium values and/or other potential recoverable minerals.
About Us
We have repositioned Boxscore as a Renewable Energy company, focused on the extraction and refining of technical minerals. Our initial acquisition of the Lisbon Valley mineral rights has been the catalyst to evaluating a number of other high potential locations in the western US. Demand for tech mineral such as lithium, cobalt, boron, magnesium, and all rare earth metals (REE’s) using the advancements in selective brine extraction technology provides a clean and efficient extraction opportunity.
Andrew Boutsikakis, CEO, BoxScore Brands
“The time and cost savings associated with entering existing abandoned wells, provides us with a competitive advantage and greatly reduces our time to extraction and production. Over the past year, we have been building a highly experienced team to drive this mission,” Andrew Boutsikakis added.
About the Lisbon Lithium Project
The Lisbon Lithium Project is situated in San Juan County, in southeastern Utah, southeast of the City of Moab, United States. The Company’s property position comprises 102 placer mining claims ventured in one contiguous group on U. S. government lands managed by the U. S. Bureau of Land Management (BLM).
Historical data demonstrate supersaturated brine (40% minerals and 60% water) with disclosed lithium values ranging from 81 to 1,700 ppm and projected flows in excess of 50,000 barrels of brine daily.
About the Technical Report
BoxScore appointed Plateau Ventures and Peek Consulting, both with years of familiarity in eastern Utah, to carry out these reviews. The technical report appraised approximately 100 years of brine exploration in this region, and the supporting stratigraphy, geology and physiography.
The Lisbon Lithium Project firstly drew attention because of high lithium values disclosed in the literature in brines recovered from potash and oil and gas exploration wells. The area has seen an extensive history of oil and gas exploration and comprises a potash mine in the counties of Grand and San Juan.
A number of the wells drilled for oil and gas and potash probed the brine-rich Paleozoic sediments that constitute the existing project’s target.
But a review reveals that numerous wells were checked for lithium and several other minerals and metals. These establish a major opportunity because of a high probability of intersecting supersaturated brines and that there is a considerable sign that lithium mineralization in brines occurs under the subject property.
Study Area
We are excited by the conclusions and recommendations contained in Peek Consulting’s preliminary technical report and will be actively pursuing these recommendations during the first quarter of 2022. We also hope to select, enter, test, and evaluate a high potential brine well in January or February 2022. We will update our investors on our progress.
Andrew Boutsikakis, CEO, BoxScore Brands
Safe Harbor
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and similar expressions are intended to identify forward-looking statements.
These forward-looking statements, which include the possible resumption of regular trading of our common stock on the OTCQB tier of the OTC Markets, are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties.
Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company’s periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled “Risk Factors”, copies of which may be obtained from the SEC’s website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release unless required by federal securities laws.
Source: https://www.boxscore.com/