BARREL ENERGY UPDATE ON TITAN SOUTH PROJECT
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Las Vegas, NV., Jan. 31, 2024 (GLOBE NEWSWIRE) -- Barrel Energy Inc., (OTC Markets: BRLL) (the “Company” or “BRLL”) is pleased to announce that it received a report detailing a completed multispectral Advanced Spaceborne Thermal Emission and Reflection radiometer (“ASTER”) analysis across a portion of the Titan South Lithium Project area in Tanzania.
The ASTER information is a type of spectral and thermal remote sensing data collected from satellites which has proven to be an important tool in geological exploration for several decades. Such multispectral analysis has been employed to locate mineral assemblages that correlate with mineral deposits worldwide.
With respect to potential lithium deposits, ASTER data has been successfully utilized within the Salar de Atacama in Chile to map key lithological and mineral pathfinder components of this large lithium-bearing playa such as altered rocks and hectorite bearing clays. As well, within the southwest U.S., spectral anomalies have been identified which highlight the mineral assemblages of accessory and lithium hosting sediments over several of the large known lithium resources in this large region.
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Figure 1 shows hectorite, illite and other accessory minerals anomalies over the large 21.5-million-ton Lithium Carbonate Equivalent (LCE) McDermitt resource currently under exploration by Jindalee Lithium. The McDermitt project sits approximately 22miles (35kms) north of the 19.5-million-ton LCE resource of the Thacker Pass deposit.
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Figure 2 shows the results of the examination of the north portion of the Titan South prospecting license, along with a portion of the adjacent Titan project. Key targeted minerals were such as hectorite, illite, analcime and albite were identified on the Titan South ground, of which both illite and hectorite appear to be the dominant minerals.
The study was initiated and completed by Dr. Elisante Mshui from the School of Mines and Geosciences at the University of Dar es Salaam in late 2023. This analysis was implemented using a USGS sourced library of data to locate potential lithium bearing prospects within Tanzania and was conducted completely independently of our work in the area.
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Figure 3 shows the spectral mineralogical data from the Titan South project projected at the same scale with the data from the McDermitt site, one of the largest lithium resources in the U.S.
Much of the Tian South Project remains unexplored and untested, however, we note that the observed robust spectral anomalies at Titan South (see Figure 2) cover an area much larger than our sampling has covered. Further spectral analysis will be conducted to cover the entire license area, however, the current data provides Barrel a excellent ground map as to where to continue geochemical studies and drilling in 2024.
The Company would also like to announce it has acquired Titan North. Both Titan North and Titan South will be held in BRLL’s subsidiary Kilimanjaro Battery Metals Company Ltd. (KBM)
The annual rents for both PL’s were paid for in December 2023, we are waiting for the original PL’s from the Ministry of Mines, upon receipt the PL’s will be uploaded to the BRLL website.
About Barrel: Barrel Energy Inc., (OTC Markets: BRLL) is focused on several ventures within the green energy and battery minerals sector and the rapid development of valuable production opportunities throughout North America and abroad.
Contact:
Harp Sangha-Chairman
sanghaharp1964@gmail.com
+1-702-595-2247
Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission.
FAQ
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