LAS VEGAS, June 21, 2012 /PRNewswire/ -- First Liberty Power Corp. (OTCBB: FLPC) (the "Company") www.firstlibertypower.com, a Nevada based mineral exploration company with a primary focus on lithium exploration and development, is pleased to announce the completion of the data acquisition stage of the gravity survey on the Company's Smokey Valley (S.V. Property) lithium brine project near Silver Peak, Nevada.
The working conditions for the survey, as organized by GeoXplor Corp and completed by Hasbrouck Geophysics Inc. were excellent, allowing for an expedient completion of the data acquisition phase. Preliminary reports from the geological team are that the data is indicating the presence of a significant basin formation, which is a key pre-cursor for lithium brine accumulation. CEO Don Nicolson stated, "The Company anticipates completion of the full report in the next 7 to 10 days, at which time we will be in a position to provide full details on the results of the program. In addition, the Company's exploration strategy is being updated regularly with the board of directors as we move further along with the S.V. Property."
The SV Property is located approximately 5 miles northwest of Chemetall Foote Lithium operation in Silver Peak, which is the only producing lithium brine operation in North America. In the 1970's the US Geological Survey ("USGS") conducted a gravity survey covering Clayton Valley and the valley connecting Clayton Valley to Big Smokey, where First Liberty Power Corp. has recently purchased additional land claims. The USGS survey map demonstrated a noticeable relationship between the brine field in Clayton Valley and the deepest parts of the Smokey Valley. The map proposed to the surveyors that there is a height of bedrock between the Smokey Valley Property claims and Clayton Valley which could act as a barrier for water moving from Big Smokey Valley to Clayton Valley.
About UsFirst Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium exploration and development in the United States. The Company is positioned to capitalize on the anticipated increase in demand for lithium carbonate that is projected to result from the acceleration of the adoption and use of clean renewable energy products that utilize lithium-ion batteries.ContactFirst Liberty Power Corp. www.firstlibertypower.com email@example.comInvestor Relations Telephone: (800) 709-1196 Notice Regarding Forward-Looking StatementsThis current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the final outcome Lida Valley and Smokey Valley exploration / work programs, the specific nature and extent of the next phase of our exploration program, our ability to raise the necessary capital to complete our exploration program, and any mineralization, exploration and development of our mineral properties, specifically in regards to Lithium. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.