Overview:
- Scotch Creek Ventures has completed two core holes on its Macallan East property in 2022
- The completed holes were each drilled over 1000 feet below surface
- The objectives for the drill programs were to discover lacustrine, volcanic ash-rich sediments deposited within the Clayton Valley evaporative basin
Vancouver, British Columbia--(Newsfile Corp. - February 8, 2023) - Scotch Creek Ventures Inc. (CSE: SCV) (FSE: 7S2) (OTC PINK: SCVFF) (the "Company") ("Scotch Creek" or the "Company"), is pleased to provide an update on its ongoing Macallan East Lithium drill program. The property is located in the Southeast portion of Clayton Valley, representing a sizeable region with minimal subsurface exploration for lithium or other salar minerals. Recently, nearby Scotch Creek's Macallan East project a limited and relatively shallow drill program by Sienna Resources has shown the presence of lithium rich claystones lying beneath gravel cover deposits.
Mr. Robert D. Marvin, Scotch Creek's Qualified Person, commented, "The results to date have been both encouraging and intriguing because we have discovered deeper lacustrine units not previously known to exist. Our first hole in the west central portion of the property bottomed in a pure magnesium-calcium carbonate lithology. This unit is noteworthy in that it contains volcanic ash interbeds, which confidently places this evaporative deposit into the regional lithium host of Esmeralda Formation. This new, fundamentally evaporite facies of the formation have not been previously documented elsewhere within the region.
Our recently completed second hole encountered ash-rich, lacustrine sediments below gravel cover, as we expected. The hole then passed through 100 feet of a cobble alluvial unit. Below this rounded cobble unit, the hole entered a second section of volcanic ash stratigraphy. This lower lacustrine unit is essentially 100% volcanic ash with local pebble gravel interbeds. At 1100 feet the borehole passed through a major fault zone and into Paleozoic age limestone, part of the basement rock sequence of the Clayton Valley."
The completion of the two deep core holes has allowed Scotch Creek to obtain a greater understanding of the lithologic and structural geology of the Southeast Clayton Bench. The Company believes the lower ash zone intersected in the second hole MCD-2 represents a previously unknown target sequence beneath the property. This section likely represents an older section of Clayton Valley's basin development containing deeper section of the prospective Esmeralda Formation.
The strong fault zone intersected near the bottom of MCD-2 may be the southern extension of the Angle Island Fault Zone. The Angle Island structure is an important internal fault within the Clayton Valley, which lies proximal to recently discovered lithium rich claystone deposits within the Clayton Valley to north of the property.
Scotch Creek is working to compile the data resulting from the completed holes as part of the necessary process to target additional drilling at the property.
Scotch Creek would like to invite investors and stakeholders to connect with our investor relations team or visit our website to sign-up to receive regular updates and news alerts.
About Scotch Creek Ventures
Scotch Creek is a mineral exploration company, focused on the acquisition, exploration, and development of lithium projects located in tier-one mining jurisdictions such as Nevada, USA. Scotch Creek's vision is to secure North America's green revolution future with strategically sourced lithium projects.
On behalf of the Board of Directors
"David K. Ryan"
David Ryan
Chief Executive Officer
Further information about the Company is available on our website at www.scotch-creek.com or under our profile on SEDAR at www.sedar.com, and on the CSE website at www.thecse.com.
Public Relations Contact
Scotch Creek Ventures Inc.
Telephone: +1.604.862.2793
Email: info@scotch-creek.com
Website: www.scotch-creek.com
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Forward‐looking and cautionary statements
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations.
This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.
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