Oct 14 2016
Goldrea Resources announces that the Company has acquired a 100% interest in a lithium prospect, known as the Lift Property, located in the Clayton Valley, Esmeralda County, Nevada.
The Lift Property is comprised by sixty lode claims covering approximately 1200 acres of land. The claims are situated adjacent to Noram's lithium property and in proximity to Pure Energy and Cypress' interests in the Clayton Valley. Consideration for the acquisition consists of US$30,000 cash (of which US$15,000 has been paid), 500,000 Goldrea shares, and a 3% net smelter return royalty which can be bought back for US$2.5 million. US$24,270 has also been paid for county and BML recordation fees through August 2017.
"We are pleased Goldrea Resources has been able to secure this prospect which holds potential for supplying a much-needed commodity in the future," states Jim Elbert, CEO and President. "Clayton Valley has been the focus of many recent lithium acquisitions. It is home to the only operating brine-based lithium mine in North America, the Albemarle Silver Peak mine, and host to the Angel Island Fault which is also highly prospective. The work done in the Valley and lithium showings is encouraging as we look to move the Lift property forward."
Goldrea's Lift Property located in the Clayton Valley, NV map:
http://goldrea.com/wp-content/uploads/2016/10/goldreamap_liftproperty.jpg
Source: http://goldrea.com/