Scheduled Start of Exploration Program For Clayton Ridge Nevada Lithium Prospect

LAS VEGAS, Nov. 16, 2011 /PRNewswire/ -- New America Energy Corp. (OTCBB: NECA) announced today that it has received and accepted the budget for its planned exploration program for the Clayton Ridge Lithium Brine Prospect (the "CR claims").  It is anticipated the work will begin in the next two weeks.

The CR claims are strategically located adjacent to the Clayton Valley playa, on the southern extension of the Clayton Ridge Trough, approximately 5 miles southeast of the Chemetall Foote lithium deposit. The Clayton Ridge Trough as been defined by several gravity geophysical surveys and is considered to be a major conduit for the lithium brines that have been leached from the lithium enriched Montezuma Peak rhyolitic tuffs and the lithium enriched waters of Alkali Hot Spring.

Rick Walchuk, President of New America Energy Corp., commented "The project is progressing very well. Final planning for the initial exploration program is near complete; we anticipate results within approximately six weeks of the start of the survey."

The initial phase of the exploration program will consists of a complete gravity survey over the claim area to determine the depths of the basin and delineate troughs or traps that might contain economic values and concentrations of lithium brines. A total of about 125 gravity stations will be used.

The project, including mobilization-demobilization, should take approximately 2 weeks for field completion and another 30 days for the interpretation and final report.

A reconnaissance gravity survey consisting of two lines was previously conducted over the CR claims by Hasbrouck Geophysics. Jim Hasbrouck analyzed and interpreted the survey's data; the results indicated the presence of significant bedrock and elevation lows which the company believes, merit further exploration.

ADDITIONAL GRAVITY SURVEY DETAILS

Mr. Jim Hasbrouck, Hasbrouck Geophysics, Inc., Prescott, Arizona, has recommended one kilometre line spacing and one kilometre stations for a total of about 125 gravity stations (based on approximately 115 line kilometres). The gravity data will be acquired with a leased LaCoste and Romberg Model G gravity meter.

The data will be processed using the GravMaster computer software developed by GeoTools Corporation with field estimation of terrain corrections to Hammer Zone C and the use of DEMs to Hammer Zones M. Deliverables will include Bouguer Anomaly sections along each line, a three-dimensional compilation of those results, and a final report detailing the methodology, data acquisition, processing and interpretation. Mr. Hasbrouck will process and interpret the data, and prepare the final report.  

Read more http://www.newamericaenergycorp.com/files/CR_Claims_Gravity_Reconnaissance_Survey_2011.pdf

If results from the gravity surveys are deemed successful, a controlled source audio magnetotellurics /magentotellurics (CAMT/MT) method would be recommended as the next step to define brine filled layers and bedrock within the basin.

FORWARD LOOKING STATEMENT

This announcement is not an offer to sell any New American Energy Corp. ("NECA") shares or related securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of NECA may contain "forward looking statements." Such forward looking statements are identified by words such as "intends," "anticipates," "believes," "expects," and "hopes" and includes, without limitation, statements regarding the resource potential of the Clayton Ridge property, the start of the gravity survey on the property and anticipated exploration results. Forward-looking statements express our expectations or predictions of future events or results. They are not guarantees and are subject to many risks and uncertainties. There are a number of factors beyond our control that could cause actual events or results to be significantly different from those described in the forward-looking statements. Any or all of our forward-looking statements in this report or in any other public statements we make may turn out to be wrong. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.

Investor Relations Toll Free 1-855-391-2615
[email protected]

SOURCE New America Energy Corp.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED