Blue Eagle Lithium Inc. Continues Exploration Program; Team to Commence Extended Soil Sampling on Railroad Valley Property
Company Exercises Option Agreement to Acquire Additional Land
HENDERSON, Nev., June 10, 2019 (GLOBE NEWSWIRE) -- Blue Eagle Lithium Inc. (OTCQB: BEAG) (Blue Eagle or the Company), a lithium resource exploration and development company, announced that it has engaged Rangefront Geological (Rangefront) to commence an extended soil sampling program covering its original 4,000 acre land position in Railroad Valley and its recently acquired acreage, the latter of which has received only limited evaluations to date. Rangefront Geological is a premier geological contracting and consulting company based locally out of Elko, Nev. comprised of a high-quality staff of managers, project geologists, junior geologists and geotechnicians who cater to a large spectrum of clients in the mining and mineral exploration industries.
A crew from Rangefront will be mobilized to initiate work on the properties with the aim to gather up to 250 near surface clay and brine samples. Rangefront will further investigate areas of interest with positive anomalies from the Company’s previous sampling program and utilize hand augers to evaluate promising brine targets at shallow depths. In concert, Rangefront will compile data for the GIS database, including geophysics, oil drilling and aerial images, to provide a regional structural analysis.
This phase of the work will commence the week of June 10, 2019 and is expected to be completed within a few weeks, weather permitting.
The Company also announced it has further extended its land package via the exercise of an option agreement clause, thereby extending its land holdings by an additional 520 acres (26 Mineral Claims). In total, the land package now held by the Company is 5,520 acres (276 claims ~2,223 Hectares).
The additional acreage was offered to the company via means of an option clause within the recently announced Property Purchase Agreement in which the company acquired 1,000 acres.
“We are delighted to have engaged Rangefront Geological to move forward with an exploration program on our total land holdings,” commented Blue Eagle CEO Rupert Ireland commented, “They are a respected local outfit and we look forward to working with them. We are eager to continue work on the original 4,000 acre position and begin work on our recently acquired acreage. Given the positive sample results from our earlier work on our core land position, it made sense to extend our footprint in this area of Railroad Valley when the opportunity arose. We are excited to have boots on the ground again, and to continue our work in Railroad Valley. By increasing our acreage and engaging with Rangefront Geological, we are particularly excited to move our land review forward.”
About Blue Eagle Lithium Inc.
Blue Eagle is a lithium exploration company engaged in identifying, evaluating, and developing early-stage lithium exploration opportunities in North America. The company's initial property is located in Railroad Valley, Nevada, a highly prospective green-fields Petro-Lithium brine target area that features many similarities to the nearby Clayton Valley and which the company believes warrants an extensive exploration program. The company has a 100% Working Interest in 276 placer claims. The claims cover 5,520 acres (~2,223 hectares).
Blue Eagle Lithium is a publicly traded (OTCQB: BEAG) Blue Eagle’s team comprises experienced leaders that represent over 60 years of industry experience in the energy, financial, and geology fields.
IR TOLL-FREE: 1-877-344-BLUE
INVESTOR EMAIL: IR@blueeagleLithium.com
OTC QB: BEAG
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Released June 10, 2019