January 14, 2021: Vancouver, BC, Canada; Nickel Rock Resources Inc. (“the Company”) TSXV: NICL, OTCQB: NIKLF reports that preparations are currently underway to conduct a shallow drilling program, up to 125 m or 400 feet on its Clayton Valley project at Silver Peak, Nevada. Estimates for the drilling costs are currently being evaluated with a possible start date in early March. The Company is fully funded for this program.
Neighbouring lithium producer Albemarle (NYSE: ALB), a leader in the global specialty chemicals industry, announced on January 7th, 2021 plans to expand capacity at their lithium production facility at Silver Peak, Nevada. In addition, it will begin a program to evaluate clays and other available Nevada resources for commercial production of lithium. Albemarle said that beginning in 2021, the company plans to invest $30 million to $50 million to double the current production at the Nevada site by 2025, making full use of its brine water rights. (refer to Albemarle news release dated January 7, 2021)
Alan Morris is a Qualified Person as defined by National Instrument 43-101 and has approved the technical information contained within this news release.
About Nickel Rock Resources Inc. www.nickelrockresources.com
Nickel Rock Resources is a Canadian-based mineral exploration company with a highly focused exploration for high-value battery metals required for the electric vehicle (EV) market. The company recently announced several acquisitions resulting in a significant property package prospective for awaruite, a naturally occurring nickel-iron alloy important in the manufacture of environmentally efficient batteries for the electric vehicle markets globally.
The Mount Sidney Williams group consists of five claim blocks in four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt and chromium. At least some of the nickel mineralization occurs as awaruite.
The Mitchell Range group area claim consist of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt and chromium. Nickel-cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The company is planning detailed exploration for the upcoming exploration season. The acquisition of the Hard Nickel group and the Nickel 100 claims are subject to TSX Venture Exchange approval.
The Clayton Valley project is an early-stage lithium brine prospect in Esmeralda county, Nevada. A total of 77 placer claims covering about 640 hectares (1,500 acres) were staked over the western side of the Clayton Valley playa. The property position covers an inferred graben bounded by the Silver Peak range front on the west and Goat Island on the east. The exploration concept is the graben is a subbasin of the larger Clayton Valley basin and may represent a secondary trap for lithium brines within the greater system.
On Behalf of the Board of Directors
Robert Setter, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guaranteeing future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.