Mammoth Energy Group Announces Preliminary Chemical Analysis of Lithium Concentrations From Sample Testing
Companies:
Mammoth Energy Group, Inc.
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Press Release Source: Mammoth Energy Group Inc. On Wednesday July 14, 2010, 4:15 pm EDT
NEW YORK, NY--(Marketwire - 07/14/10) - Mammoth Energy Group Inc. (Pinksheets:MMTE - News) announced today that preliminary results of drilling and chemical analysis from its project under development has returned results and confirmed the presence of lithium -- potassium brine bearing aquifers. Brine Concentrations averaged grades of 650 ppm (parts per million) for lithium and 9500 ppm for potassium. These results confirm a significant third dimension to surface brines sampled on the project. The brine chemistry in the first test wells compares favorably to other Lithium companies in the region including the large multi-national Lithium producers whose estimates in the Atacama and throughout the region average 500 to 750 ppm Lithium and 9000-10000 ppm for potassium.
"These are only initial chemistry tests however these numbers are favorably in line with the concentration levels currently found throughout the Atacama region," announced William Lieberman, President of Mammoth Energy Group.
Mammoth Energy Group has signed a Memorandum of Understanding with Salt Gold Inter Chile Limitada whose lithium concessions are located in the North West region of Chile in the heart of the Lithium belt stretching across Bolivia, Chile and Argentina.
About Mammoth Energy Group Inc. (Pinksheets:MMTE - News)
Mammoth Energy Group Inc.
Mammoth Energy Group Inc. is focused on acquiring, developing and operating strategic mining energy reserves in locations throughout the world. With an ever changing shift to alternative energy and fuels Mammoth Energy Group will be prepared to be a leading energy supplier and operator. Mammoth Energy's goal is to become an important partner as the world's energy paradigm begins to change throughout the next decade and beyond