Govind Tekale
Nevada Lithium Resources Inc., a mineral exploration and development company, has made a significant stride in lithium exploration at its Bonnie Claire Project in Nye County, Nevada. The company’s initial diamond drill hole for 2023, BC2301C, achieved a depth of 2950 ft (899 m), marking it as the deepest exploration at the site. Stephen Rentschler, CEO of Nevada Lithium, expressed his satisfaction with the results, particularly highlighting the hole’s role in the Pre-Feasibility Study (PFS) resource upgrade area and its confirmation of potential for additional high-grade mineralization.
The exploration data reveals a high-grade lower mineralized zone extending over 1100 ft (335 m) with lithium concentrations of 3076 ppm, including a subinterval of 360 ft (110 m) at an impressive 4291 ppm. Remarkably, the assay results include some of the highest lithium grades recorded for the project, with samples reaching up to 5390 ppm and 5080 ppm. The upper mineralized zone also shows significant findings, with 370 ft (113 m) at 969 ppm from a depth of 30 ft (9.1 m). This discovery not only confirms the potential for high-grade mineralization beyond the current resource but also aids in future resource upgrade and exploration drill planning.
The drill hole BC2301C was part of the PFS infill program aimed at increasing grade confidence. Its results demonstrate potential for deeper mineralization and provide a deeper understanding of the basin geology. The exploration uncovered strong lithium grades near the surface, a low-grade central section, and a wide high-grade section, showcasing the varied mineralization profiles within the project area.
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The Bonnie Claire project, a core asset of Nevada Lithium, boasts an inferred mineral resource of 3,407 million tonnes grading 1,013 ppm Li. The project’s Preliminary Economic Assessment (PEA) indicates a net present value (8%) of $1.5 billion USD, emphasizing its substantial economic potential. Dr. Jeff Wilson, Ph.D., P.Geo, the Vice President of Exploration for Nevada Lithium, has reviewed and approved the technical information in these disclosures, ensuring their accuracy and reliability.
However, it’s important to consider the forward-looking nature of these statements. They are based on assumptions and estimates deemed reasonable by Nevada Lithium’s management but are subject to risks and uncertainties. These could potentially impact the project’s development, regulatory approvals, market dynamics, and economic viability. As with any exploration and development project, there are inherent risks and factors that could cause actual results to differ from projections or expectations.
The exploration achievements at Bonnie Claire represent a significant advancement in lithium exploration, underscoring the potential for high-grade lithium resources in Nevada. The findings from the BC2301C drill hole not only enhance our understanding of the site’s geology but also pave the way for further exploration and potential commercialization, contributing to the growing importance of lithium in various industries, especially in renewable energy and battery technologies.
