NEX Trading Symbol – Tgi.h True Grit Resources Generates Positive Preliminary Results from an Oreintation Mobile Metallic Ion (MMI) Soil Survey and Assessment of a V Ailable Resistivity Data, and Files a Technical Report on Its Arizona
True Grit Resources Ltd.
Suite 404 – 999 Canada Place Vancouver, British Columbia V6C 3E2 Telephone: (604) 662-3230 Fax: (604) 682-4309 NEX TRADING SYMBOL – TGI.H
TRUE GRIT RESOURCES GENERATES POSITIVE PRELIMINARY RESULTS FROM AN OREINTATION MOBILE METALLIC ION (MMI) SOIL SURVEY AND ASSESSMENT OF AVAILABLE RESISTIVITY DATA, AND FILES A TECHNICAL REPORT ON ITS ARIZONA LITHIUM BRINE PROJECT
Vancouver, BC (April 9, 2018) True Grit Resources Ltd (the “Company”) is pleased to announce that it has, through its wholly owned subsidiary, conducted an orientation Mobile Metallic Ion (MMI) soil survey, commissioned a detailed assessment of existing published resistivity data, and filed application for an expanded land position under Arizona State Land Mineral Exploration Permit on its Arizona lithium brine exploration project. Highlights of recent work are as follows:
Orientation MMI soil geochemistry studies testing portions of the project area, and conducted under the direction of industry recognized expert Dr. Mark Fedikow, has indicated surface soil lithium anomalies showing strong correlation with elevated Mg, Sr and U, are well developed and high contrast when collected from a depth of 30 to 40 cm. Based on these positive results, the Company is moving forward with plans to test the entire project area by MMI soil geochemistry utilizing 200m grid spacing. Whether any buried lithium source producing surface mobile ion anomalies is lithium-in-brine or lithium enriched clays will be determined through subsequent electrical survey soundings.
Recent detailed assessment of a published regional scale resistivity survey by a geophysical consultant covering key portions of the project area, has recognized zones of low to very low resistivity (high conductivity), which are tentatively interpreted to represent local, elevated saline groundwater conditions. The Company considers these potential brine zones to be highly prospective drill targets, and is moving forward with contracting in-fill resistivity surveys to cover priority areas. A recently expanded land position will cover areas of keen interest.
The Company's land position, as evidenced by published gravity, seismic and water well data, is centered over portions of the deepest part of a structural basin, partially filled by Pliocene-age tuffaceous evaporite deposits. Water wells, drilled through the evaporite sequence to access underlying aquifers, were sampled and analyzed by the USGS prior to 1978, and between 1980 and 1991, and returned elevated lithium values. Wells in the immediate vicinity of the project area have yielded lithium values up to and exceeding 3.5 ppm. It is postulated that high lithium content brines, hosted within the unconsolidated evaporite sediments, are contaminating the high flow, deep aquifer wells. Additional historic work, focused on the geothermal potential of portions of the basin, and including a regional scale resistivity survey, led to the recognition of low to very low resisitivities, which are tentatively interpreted to represent local elevated saline groundwater conditions.
The current exploration strategy being studied by True Grit to identify potential economic aquifers of lithium bearing brine, proposes refinement of drill targets using a combination of MMI geochemical anomalies that may be coincident with zones of high conductivity. It is also noteworthy, that the project area hosts excellent, close proximity infrastructure including power, paved highways and a large trained, mine industry workforce.
A discussion of results and recommendations for continued work is presented in a Technical Report titled L.G. Property, Graham County, Arizona, dated March 15, 2018 and filed on SEDAR March 28, 2018.
Byron Coulthard, the President of True Grit Resources, states that the Company is very encouraged by the work done on the property to date. The MMI data analyzed along with the historical water well information confirms the presence of Lithium. The Company looks forward to drilling in the near future to test the economic potential of the project.
TRUE GRIT RESOURCES LTD.
Byron Coulthard President
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forwardlooking statements. Factors that could cause actual results to differ materially from those in forwardlooking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com.
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