Las Vegas, NV, June 13, 2023 (GLOBE NEWSWIRE) -- Barrel Energy Inc., (OTC Markets: BRLL) (the "Company" or "Barrel") is pleased to announce excellent soil geochemical sampling results from prospecting a small portion of the company's Titan X lithium property in Tanzania.
The Titan X project is located directly south of, and is adjacent to, the Titan 1 project of Titan Lithium Inc. Both Titan X and Titan 1 occur within a northeast-southwest-striking fault-bounded valley that likely served to trap Lithium-rich source volcanics and sediments in this area of the East African Rift.
The results are from initial soil geochemical prospecting taken in the north end of the Titan X project and cover an area of approximately 1,046 acres (4.2 square kilometers) which represents only 4% of the total area covered by the large Titan X project.
From the results of the prospective soil samples, we note that positive Lithium geochemical values average 3,440 ppm Lithium. Two samples returned zero values and the lowest positive value returned 1,300 ppm Li and the highest value returned 1.32% Li2O (6,100 ppm Li).
Craig Alford, MSc, PGeo, a Qualified Person under NI 43-101 and CEO of the Company, noted "These initial surficial results from the Titan X area are excellent and prove that the rich lithium anomaly observed at Titan 1 continues southward. Surficial lithium values in the Titan projects are generally much higher than observed anywhere in the southwest U.S. and follow up work will continue these geochemical sample lines another 5 miles to the south."
All samples were collected and transported to the laboratory under the direct supervision of a qualified person. The soil samples were recovered from the B-soil horizon and placed in cloth sample bags. The samples were thoroughly dried at 60oC during preparation and analyzed at the independent and ISO 9001 certified African Minerals and Geosciences Centre (AMGC) in Dar es Salaam.
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. The company holds important joint venture agreements to advance technologies and processes for Electric Vehicle batteries.
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Contact: Harp Sangha/Chairman
+17025952247/sanghaharp1964@gmail.com
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 Security and Exchange Commission.
