First Lithium Releases Results of Geophysical Surveys
This morning First Lithium Minerals (CSE: FLM) announced the results from their Transient Electromagnetic geophysical surveys undertaken at their OCA Lithium Project in the Antofagasta Region of Northern Chile. The company stated that the geophysical surveys program comprised data collection measuring vertical components along 500 to 1,000m spaced lines over selected exploration concessions. The resistivity data showed over a total of 267 TEM contiguously spaced stations along 28 profiles for a total of 47.8 line-km.
The company’s CEO Rob Saltsman said the following:
“The results of this geophysical survey are quite impressive, adding substantially to the geologic and hydrogeologic understanding of the OCA project and its potential for discovery. It is very encouraging to see two priority target areas with highly conductive zones open at depth outlined during our first systematic exploration in the salars. As we await further analysis and interpretation of TEM surveys, geologic mapping, and surface geochemical samples, we are moving forward to evaluate all the available data to best define our prospective drill targets”.
Rob Saltsman joined us with SmallCapSteve in October.
With the results of the geophysical surveys, FLM feels they have identified multiple low resistivity zones across several prospective areas. Stating the discovered zones are indicative of characteristics “typically exhibited by mineralized saline aquifers of hydrogeological conditions of northern Chile.” And that “the geophysical surveys indicated highly conductive horizontal zones of less than 1.0 Ohm-meter of up to 400m in thickness, from about 100-200m beneath the surface. Specifically they announced, two sectors, in the northeastern area displayed promising geophysical characteristics with responses as low as 0.2 Ohm-meters. These areas have been identified as priority high conductivity targets for continuing exploration.
The stock last traded at 15c on the Canadian Securities Exchange.
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SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.