BoxScore Brands, Inc. Provides an Update on its Lisbon Valley Brine Project
BoxScore Brands, Inc. Provides an Update on its Lisbon Valley Brine Project
Lisbon Valley Brine Project Location
Las Vegas, NV, Dec. 14, 2021 (GLOBE NEWSWIRE) -- BoxScore Brands, Inc. (OTC Pink: BOXS) (“BoxScore” or the “Company”) – a US based renewable energy company - is pleased to provide this update from its CEO, Andrew Boutsikakis.
BoxScore has been evaluating high tech components in the western US, focusing on lithium mineralization in brines.
BoxScore has recently acquired a significant land position in the Lisbon Valley, Paradox Basin area of Utah (the Company’s “Lisbon Lithium Project”), which has a long history of oil, gas and potash brine exploration and production.
BoxScore has just received a preliminary technical report on its lands in the Lisbon Valley. This preliminary technical report, which was conducted by the independent consulting firm, Peek Consulting, Inc., concluded that:
“There is abundant evidence from oil and gas and potash wells drilled in the Paradox Basin that indicate that there is a high probability of intersecting super saturated brines.”
“It is believed that there is a substantial indication that lithium mineralization in brines occurs beneath the subject property.”
“There is also substantial evidence that other valuable minerals besides lithium, such as potassium, magnesium, calcium chloride, bromine and boron, may be recoverable from the brines, as well.”
This preliminary technical report also included two key recommendations that the Company will be advancing as quickly as possible:
Recommendation 1: Given the considerable historical information that has been filed with the Utah Geological Survey, the Company should undertake a more comprehensive search of this historical information for indications regarding the presence (or absence) of lithium within the Paradox Formation brines: and
Recommendation 2: Re-enter one of the existing, historical wells located on the Company’s lands for the purpose of evaluating and testing the different zones to establish which stratigraphic horizons could possibly produce brines and which might have the higher lithium values and/or other possible recoverable minerals.
About Us
“We have repositioned Boxscore as a Renewable Energy company, focused on the extraction and refining of technical minerals. Our initial acquisition of the Lisbon Valley mineral rights has been the catalyst to evaluating a number of other high potential locations in the western US. Demand for tech mineral such as lithium, cobalt, boron, magnesium, and all rare earth metals (REE’s) using the advancements in selective brine extraction technology provides a clean and efficient extraction opportunity. The time and cost savings associated with entering existing abandoned wells, provides us with a competitive advantage and greatly reduces our time to extraction and production. Over the past year, we have been building a highly experience team to drive this mission.” stated Andrew Boutsikakis, CEO
About our Lisbon Lithium Project
The Lisbon Lithium Project, is located in San Juan County, in southeastern Utah, USA, southeast of the City of Moab. The Company’s property position consists of 102 placer mining claims staked in one contiguous group on U. S. Government lands administered by the U. S. Bureau of Land Management (BLM).
Historical data show a super saturated brine (40% minerals, 60% water) with reported Lithium values ranging from 81 to 1700ppm and estimated flows in excess of 50,000 barrels of brine per day.
About the Technical Report
BoxScore commissioned Plateau Ventures and Peek Consulting, both with years of experience in eastern Utah, to conduct these reviews. The technical report reviewed nearly 100 years of brine exploration in this area, and the supporting geology, stratigraphy and physiography. The Lisbon Lithium Project initially attracted attention because of high lithium values reported in the literature in brines recovered from oil and gas and potash exploration wells. The area has seen a long history of oil and gas exploration and hosts a potash mine in Grand and San Juan counties. Many of the wells drilled for oil and gas and for potash penetrated the brine-rich Paleozoic sediments that make up the current project’s target. But a review shows that many wells were tested for lithium and many other minerals and metals. These demonstrate a significant opportunity, due to a high probability of intersecting super saturated brines, and that there is a substantial indication that lithium mineralization in brines occurs beneath the subject property.
Study Area
Andrew Boutsikakis, CEO, stated “we are excited by the conclusions and recommendations contained in Peek Consulting’s preliminary technical report and will be actively pursuing these recommendations during the first quarter of 2022. We also hope to select, enter, test and evaluate a high potential brine well in January or February 2022”. We will update our investors on our progress”.
Safe Harbor
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipates,” “plans,” “expects,” “intends,” “will,” “potential,” “hope” and similar expressions are intended to identify forward-looking statements. These forward-looking statements, which include the possible resumption of regular trading of our common stock on the OTCQB tier of the OTC Markets, are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company’s periodic filings with the Securities and Exchange Commission, including the factors described in the sections entitled “Risk Factors”, copies of which may be obtained from the SEC’s website at www.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release, unless required by federal securities laws.
Company Contact:
Andrew Boutsikakis, CEO
ir@boxscore.com
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