OTCStockExchange FLPC News
Hello All, My alert for tomorrow, FLPC, came out with news today.
I briefly mentioned it in my last email but thought I would pass it along.
We know that news sometimes is the spark that ignites a rally in a stock and the way the stock traded today this may be the case here FLPC broke out of it`s trading range of the last four weeks on strong volume.
Here is the news for your review.
First Liberty Power Completes Lida Valley Gravity Survey http://finance.yahoo.com/news/First-Liberty-Power-Completes-iw-1082676702.htmlx=0&.v=1 Press Release Source: First Liberty Power Corp. On Monday August 16, 2010, 8:09 am EDT LAS VEGAS, NV–(Marketwire – 08/16/10) – First Liberty Power Corp.
(OTC.BB:FLPC – News) www.firstlibertypower.com (the “Company”) announced that the Gravity Survey of the Company`s Lida Valley (LVW Claims) Nevada lithium claim has been completed by Hasbrouck Geophysics Corp and it has provided positive results. The data from the Gravity Survey has resulted in the identification of multiple deep trough system`s that could be a possible catch basin for lithium brine. Lithium is liberated through mechanical and chemical weathering processes and transported until it is trapped in a closed basin or by impermeable rock along a fault scarp. In the Lida Valley region it is thought that the source of the lithium is the dark gray lithium enriched rhyolite tuffs that outcrop south and east of Montezuma Peak. Once lithium has been liberated into the water system it remains highly mobile and movement of the lithium with surface water and groundwater will follow basic hydrological principles. Hydrologic basins in Nevada consist of basin fill underlain by either low-permeability or permeable rock with water movement through the basin fill, permeable rock and along faults. Nothing more complex than a topographic low or closed basin is required to concentrate lithium-bearing water. For topographic lows with larger catchment areas there is a greater opportunity to accumulate lithium from wider sources. The water trapped in these lows may move through dipping aquifers until it reaches an impermeable barrier such as a fault scarp.
Geophysicist Jim Hasbrouck of Harbrouck Geophysics commented, “Interpretation of the modeled gravity data indicates several areas of increased bedrock depths or lower bedrock elevations. These areas may be conducive for concentration of lithium bearing brines.” Glyn Garner, CEO and President of First Liberty Power Corp., added, “We are very encouraged by these positive results. With this gravity survey now complete we can move forward with our exploration program, the Company now has the data needed to plan phase two of exploration in the Lida Valley Playa.” The LVW claims share a similar geology and weathering history to nearby Clayton Valley, the LVW Claims are located within 15 miles of the Montezuma Peak, which is believed to be the source of the region`s lithium. The north end of Clayton Valley hosts Chemetall Foote Corporation`s Silver Peak Mine, the only lithium brine producer in the United States. Mine production comes from a lithium enriched brine located below the surface. This plant has been in production since 1967 and is designed to produce up to 1.2 million kilograms of lithium hydroxide per annum.
First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium and vanadium exploration and development in the United States. The Company is positioned to capitalize on the anticipated increase in demand for both lithium carbonate and vanadium that is projected to result from the adoption and use of clean renewable energy that will fuel demand for products that utilize lithium-ion batteries and vanadium redox batteries.
Notice Regarding Forward-Looking Statements This current report contains “forward-looking statements,” Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the results of the Lida Valley gravity surveys, the existence of any commercially recoverable Lithium in the Lida Valley claims, any similarities to the mineralization of the nearby Clayton Valley, and the commence of, or results from, the phase two exploration program, and any mineralization, exploration and development of our mineral properties, specifically in regards to Lithium and Vanadium.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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