Vancouver, British Columbia--(Newsfile Corp. - November 7, 2024) - Apex Resources Inc. (TSXV: APX) (OTC Pink: SLMLF) ("Apex" or the "Company") has staked and recorded 176 additional placer mining claims (approximately 3,520 acres, the "Claims") in the Carson Sink and Humboldt Sinks, located in Churchill County, Nevada to support ongoing expanded lithium brine exploration at its Lithium Creek Project (the "Project").
The Claims were located and recorded with the Bureau of Land Management (BLM) in accordance with state and federal mining regulations following release of favorable analytical results (see Apex News Release October 3, 2023) from shallow groundwater samples recently collected at the Project.
Laboratory analytical results for nearly half of the brine samples from the latest round of sampling indicate lithium concentrations exceed 50 mg/L, ranging up to 393 mg/L within the Project area. The results provide compelling evidence of the potential for regional large scale lithium enriched brine aquifers or reservoirs to exist at the Project. Encouraging analytical results were used to inform the Company's acquisition of claims on BLM lands adjacent to or near the Project which are expected to have similar geological and hydrogeological characteristics and potential for continuity to the Project's lithium brine discovery.
Ron Lang, CEO of Apex Resources, commented "The favorable results of samples showing high concentrations of lithium up to 393 mg/L is very encouraging, and supports our continued exploration for a potential discovery of a new, district-scale lithium brine reservoir(s) in the United States. Nearly doubling our land position was very important to make sure that we have all the targets we desire. Planning is now underway for the next phase of exploration."
Following release of analytical results, the Company has increased the Project's land position from approximately 4,720 acres to 8,240 acres of claims in the Fernley, Carson, and Humboldt Sinks. Acquisition of the additional claims is expected to increase the likelihood of developing the regional lithium brine resource that is expected to exist at the Project.
About Apex Resources Inc.
Apex is a mineral exploration company engaged in the business of the acquisition, exploration and development of mineral resource properties. Apex's common shares trade under the symbol "APX" on the TSX-V & "SLMLF" on the OTC Pink.
Apex has an option to acquire the Lithium Creek Project 70 KM east of Reno, Nevada. The Project is a new, district scale exploration project that has never been systemically explored or drill tested for Lithium brines.
The Project covers approximately 8240 acres and adjacent lands within the aerially extensive Fernley and Carson Sinks. These sinks have large expansive playas and lay within large hydrographic basins with a combined area of approximately 1.4 million-acres.
The Project is located within 30 minutes of the Nevada lithium battery hub of the Tahoe-Reno Industrial Center ("TRIC") via Interstate Highway I-80, and is ideally located and supported by extensive infrastructure to include existing roads, railroad access, fiber optics and geothermal power.
TRIC is a privately owned 107,000-acre (167 sq mi; 430 km2) industrial park, located in Storey County, east of Reno, Nevada. The center is the largest in the United States (third largest in the world) and is home to more than a hundred companies and their warehouse logistics centers and fulfillment centers such as PetSmart, Home Depot, Walmart and others. The Gigafactory Nevada was built there to serve Tesla, Inc. and Panasonic.
The technical information in this news release, prepared in accordance with Canadian National Instrument standards ("NI 43-101"), has been reviewed and approved by Geoffrey Baldwin (PG), (SME), a Qualified Person, who is independent of Apex.
On Behalf of the Board of Directors of
Apex Resources Inc.
Ron Lang,
President & CEO
Ph. +1(250) 212-7119 or info@apxresources.com website: www.apxresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"), such as statements relating to the potential existence of lithium bearing brine deposits on the Project. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund exploration work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Project; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in conducting work programs; the risk of environmental contamination or damage resulting from Apex's operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/229151
SOURCE: Apex Resources Inc.
