New Tech Lithium Corp. (AMP:CSE) is a publicly-traded company dedicated to the acquisition and development of potash and lithium projects in Utah and Colorado. New Tech Lithium wholly owns New Tech Lithium Corp., which in turn owns and operates the Green River Potash Project in Utah. New Tech Lithium’s area of interest covers key land positions in known potash and lithium bearing sedimentary cycles in Utah’s renowned Paradox Basin.
The company has a seasoned management team with decades of experience and success in both the mining industry and public financial markets and intends to focus the majority of its efforts on the further exploration and development of its mineral assets.
New Tech Lithium Corp. has two on-going exploration-development programs in the Paradox Basin of SE Utah and SW Colorado, USA, a Lithium Brine program and a Potash program. During the 8-year course of potash exploration and related research, New Tech Lithium has acquired an extensive database and geologic knowledge of the Pennsylvanian-age Paradox Basin, including the acquisition of technical reports and publications, historic oil & gas logs, oil & gas and potash production data, and 2-D seismic survey data. As a result, New Tech Lithium has developed a detailed understanding of the history, geology, and hydrogeology of the Paradox Basin.
New Tech Lithium recently entered into a Joint Venture (JV) agreement with Power Metals Corporation (PWM:TSE-V) whereby PWM can earn up to 65% interest in New Tech’s Utah lithium leases and claims by financing the cost of two test wells on their Utah properties (April 11, 2017 News Release). The agreement stipulates that potash core will be collected from Cycle 5 potash layer and brine samples collected from all significant brine aquifers encountered during drilling and well completion. The wells will be designed to penetrate the entire Pennsylvanian age Paradox Formation and into the top of the underlying Mississippian age Leadville Limestone which hosts a well-documented brine aquifer.
New Tech Lithium Corp. plans to capitalize immediately on the existence of producing and shut-in oil and gas wells on their Colorado lithium claims by sampling co-produced brines from the producing wells. Negotiations are currently ongoing with the oil and gas leaseholder to allow access to and sampling of the co-produced brines. Documentation of even low-levels of lithium in the co-produced brines will provide impetus for New Tech to advance the program by focusing on accessing and sampling brines from discrete, individual brine aquifers to determine the actual lithium concentrations in, ideally, a non-diluted environment. Sampling of individual brine aquifers can be accomplished by re-entering existing shut-in wells and/or drilling new wells, screening and pumping from select individual brine aquifers. If brines containing potentially economic concentrations of lithium and bromine are documented New Tech Lithium will then focus on a program designed to pump brines to the surface and recover lithium and bromine via solar evaporation ponds.