Vancouver, British Columbia--(Newsfile Corp. - March 21, 2023) - Scotch Creek Ventures Inc. (CSE: SCV) (FSE: 7S2) (OTC Pink: SCVFF) (the "Company") ("Scotch Creek" or the "Company"), is pleased to announce that it has completed the compilation of geologic and assay data from its second drill hole on its Macallan lithium property ("Macallan"), located in the southeast portion of the Clayton Valley, Esmeralda County, Nevada. The core hole was drilled to 1115 feet and ended after passing through a well-developed fault at 1107. A borehole was then completed as a water sampling well.
Significant Drill Results Include:
- The intersection of two, thick sections of ash-rich siltstones, claystones and massive volcanic ash units, all locally finely bedded indicting of lake sedimentary origin, the target Esmeralda Formation.
- Lithium mineralization to a high of 461 parts per million (ppm) Li was returned from cut core samples taken from the lower lacustrine sequence intersected in the hole.
- The lacustrine units are strongly altered resulting in bleaching and well-developed iron oxide banding.
- Warm, brackish groundwater with a strong organic odor was noted during well development and sampled directly in place in the hole at depths ranging from 800 to 970 feet downhole.
- The warm, brackish, organic rich waters produced from the hole indicate a brine water environment.
Mr. David Ryan, Scotch Creek's CEO, commented, "We are extremely pleased with these early results and believe we are on the right track to discovering Clayton Valley's next lithium reserve. It is important to note that the sampling casing was blocked at 970 feet downhole, which resulted in us not being able to sample ground waters at the depth of the strongest claystone lithium mineralization in the lower lacustrine unit. These results have given us critical information that provides us with a greater understanding of the Macallan projects geology, as we are looking to plan the next phase of drilling promptly."
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"
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.
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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