June 13, 2012
/PRNewswire/ -- First Liberty Power Corp. (OTCBB:FLPC) (the "Company")
based mineral exploration company with a primary focus on lithium exploration and development, is pleased to announce that it has entered into a purchase agreement with GeoXplor Corp. for 70 placer claims totaling 11,200 acres, located in Smokey Valley,
Esmeralda County, Nevada
, President of First Liberty, comments "We are extremely pleased to be able to add this unique SV Property to our existing
property, as it greatly expands our exploration options and future operational potential. It is our intention to rapidly complete the first two major stages of exploratory work on the SV Property, bringing it to a comparable stage as
, and then make a determination as to the first choice for undertaking an initial exploratory drilling program this summer or fall. We are very grateful for the hard work and support of GeoXplor in working with us to accelerate the growth and development of First Liberty."
The SV Property is located approximately 5 miles north west of Chemetall Foote Lithium operation in Silver Peak, the only producing lithium brine operation in
. In the 1970's the US Geological Survey ("USGS") conducted a gravity survey covering
and the valley connecting
to Big Smokey, where these additional First Liberty Property claims are located. The USGS survey map demonstrated a noticeable relationship between the brine field in Clayton Valley and the deepest parts of the valley. The map proposed to the surveyors that there is a height of bedrock between the Smokey Valley Property claims and
which could act as a barrier for water moving from Big Smokey Valley to Clayton Valley.
With the further identification of this deep trough system, the potential for a catch basin for lithium brine will be better defined. In this regards, the Company will be making an announcement pertaining to the first stage of its geophysical exploration of First Liberty Power's Smokey Valley Property, a gravity survey designed to add information on the delineation of bedrock surface depth along with topography and identification of paleostructures potentially underlying the property. The mineral Lithium is liberated through mechanical and chemical weathering processes and transported until it is trapped in a closed basin or by impermeable rock along a fault scarp. The rhylote rocks that feed this system are the most enriched lithium bearing rhyolites in the world, according to the USGS. Nearby Montezuma Peak is believed to be the volcanic center that created the unique conditions in region and the resultant lithium brines.