Pure Energy Minerals Ltd. (TSXV: PE, OTCQB: PEMIF) has announced a Letter of Intent to obtain up to an 85% stake in the Railroad Valley Property in Nye County, Nevada, from Ameriwest Lithium Inc.

Pure Energy Expands Lithium Exploration in Nevada

Pure Energy aims to explore lithium-brine deposits at the 11,201-acre Railroad Valley Property. The Letter of Intent stipulates a six-year plan to achieve an 85% interest through phased expenditures.

Exploration Phases

The first phase allows Pure Energy to earn a 65% interest over three years by investing $450,000 in cash and shares, in addition to project expenditure of $1 million. A second phase over two years involves further expenditure of $500,000.

Lithium Brine Potential at Railroad Valley

The Railroad Valley Property is considered a prime target due to its geological characteristics, similar to those of Clayton Valley, with seismic and magnetotelluric data supporting its potential. However, confirmation via drilling is required.

Ameriwest’s Role

Ameriwest Lithium has conducted extensive geophysical studies, identifying a significant lithium-brine exploration target within North Railroad Valley, reinforcing the site’s potential.

Strategic Move for Pure Energy

Joseph Mullin, CEO of Pure Energy Minerals, said the collaboration with Ameriwest is an exciting development for expanding into the battery metals market.

About Pure Energy

Pure Energy is a leader in lithium resource exploration in Clayton Valley. Their notable landholding spans 23,600 acres, bolstering their strategic position in Nevada.

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