BARREL ENERGY UPDATE ON TITAN SOUTH PROJECT

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.

Click here for high-resolution image

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.

Click here for high-resolution image

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.

Click here for high-resolution image

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.