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Friday, December 2, 2022

BrightRock Gold Corp (OTCMKTS: BRGC) Lithium Miner Owner of High-Grade Lithium Mine, Midnight Owl Mine in Arizona Rockets Up the Charts

BrightRock Gold Corp (OTCMKTS: BRGC) has been one of the biggest movers on the OTC in 2022 so far starting off in January at $0.02 the stock has risen steadily and now trades close to $0.20 per share. Earlier this year BrightRock acquired 100% ownership of the “Midnight Owl Mine”, previously known as “The Lithium King Mine” from Red Beryl Mining Company located approximately 13 miles east of Wickenburg, Arizona. The Midnight Owl Mine was one of the prominent mines in the White Picacho District known for its lithium deposits. Past Production records with the USGS indicate high grade Lithium and Beryllium recovery from Midnight Owl Mine. According to the USGS, reserves are still present Midnight Owl Mine and are expected to be deeper than the previously mined ore.  

The Midnight Owl Mine is strategically located within close driving distance to 2 industry giants in battery production. KORE Power is currently building a massive million square ft facility, capable of producing up to 12 gigawatt-hours (GWh) of battery cell production enough to power around 3.2 million households annually called the KOREPlex. In addition, LG Energy Solutions, a supplier for electric car makers Tesla and Lucid, recently announced their plans for a 1.4 billion dollar investment in Queen Creek, Arizona approximately 70 miles from the Midnight Owl Mine .  

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BrightRock Gold Corp (OTCMKTS: BRGC) operating out of Gurnee, Illinois is an emerging lithium producer with a goal of becoming a 100% domestically sourced and focused Lithium mining company. Earlier this year BrightRock acquired 100% ownership of the “Midnight Owl Mine”, previously known as “The Lithium King Mine” from Red Beryl Mining Company located approximately 13 miles east of Wickenburg, Arizona. The Midnight Owl Mine, Deposit 10027532 in the Mineral Resource Data System of the USGS is a 20.66 acre claim and past producer in Yavapai County, Arizona. Past Production records with the USGS indicate high grade Lithium and Beryllium recovery from this site. According to the USGS, reserves are still present at this location and are expected to be deeper than the previously mined ore.  

The Midnight Owl Mine, also known as the “Lithium King” was one of the prominent mines in the White Picacho District known for its lithium deposits.  

Midnight Own Mine History: 

Arizona hosts a significant quantity of pegmatite mineral deposits that have served as commercial sources of beryl, feldspar, lithium, mica, tantalum, tungsten, and quartz. Significant production in Arizona began after World War 2, as lithium-bearing pegmatites were extensively sought after leading to the discovery of the Arizona pegmatite belt extending from Lake Mead south to Kingman and southeast to Wickenburg, measuring 250 miles in length and averaging 55 miles in width. Located 10 miles east of Wickenburg and 45 miles northwest of Phoenix, sits the White Picacho District, the southern part of the Arizona pegmatite belt. 

“The Midnight Owl Mine, also known as the “Lithium King” was one of the prominent mines in the White Picacho District known for its lithium deposits.” The district and mine are best described in the Arizona Bureau of Mines Bulletin No. 162, “Pegmatite Deposits of the White Picacho District” (Nov. 1952). Quoted Below: 

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“Intermediate zones. -An intermediate zone is any zone between the wall zone and the core, which generally occurs at or near the center of the containing pegmatite body. There is no theoretical limit to the number of intermediate zones that could be present in a single pegmatite body, but only a few bodies, like the North Morning Star and the Midnight Owl, contain more than three such units. Many of the pegmatites in the district contain one or two intermediate zones, and many others appear to contain none of these units, and hence consist only of border zones and cores, or of border zones, wall zones, and cores.” 

“Intermediate zones constitute the major source of lithium minerals in the district and include such major-mineral combinations as quartz~spodumene, quartz-amblygonite, quartz-perthite amblygonite, quartz spodumene–perthite, and quartz-spodumene. Most of these units are characterized by truly giant textures, and individual crystals commonly are 4 feet or more in maximum dimension. A few spodumene~-bearing intermediate zones, though coarse to very coarse grained, nevertheless are distinctly finer and more even grained than the typical giant-textured units. Such zones occur in the outer parts of several markedly bulbous pegmatites of which the North Morning Star, Lower Jumbo, and Midnight Owl are good examples.” 

“Quartz-spodumene and quartz-amblygonite aggregates form separate zones in some· pegmatite bodies, like the North Morning Star and the Sunrise, whereas in others, like the Midnight Owl, the two lithium minerals are present in the same zones and hence could be recovered in the mining of single blocks of ground.” 

“The lithium minerals in these innermost zones form some very large crystals. Many of the spodumene logs and laths are at least 3 feet long, and a few are as much as 11 feet long and 10 by 18 inches in section.” 

“At least 1,800 tons of pegmatite that contains approximately 8 percent of coarse-grained spodumene appears to be present to a depth of about 30 feet, and the reserves may prove to be much greater when the vertical dimensions of the intermediate zones this and the central bulge, and in at least three exposures with cent to 40 per cent of the border zone and wall zone in both this and the central bulge, and in at least three exposures with areas of 40 square feet or more this mineral forms approximately 6 percent of the rock.” 

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Currently trading at a $62 million market valuation BRGC has virtually no debt with just over $200k in liabilities meaning there are no convertible notes in play. In April the Company announced a reduction of 500,000,000 shares of its outstanding common stock. The company’s total outstanding Common Trading shares after this 500,000,000 share cancellation is 300,098,000 for a total reduction of 62%. It is easy to get excited about BRGC; the Midnight Owl Mine was one of the prominent mines in the White Picacho District known for its lithium deposits. Past Production records with the USGS indicate high grade Lithium and Beryllium recovery from Midnight Owl Mine. According to the USGS, reserves are still present at this location and are expected to be deeper than the previously mined ore. The global lithium market has seen prices moving to new record highs almost daily, boosted by limited supply and good demand. This strength is expected to continue, as supply tightness persists and demand for electric vehicles continues to grow We will be updating on BRGC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BRGC.

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Disclosure: we hold no position in BRGC either long or short and we have not been compensated for this article.

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