Loyal Lithium Limited Lithium Operational Update – Nevada, USA
PERTH, Australia (ABN Newswire) – Loyal Lithium Limited (ASX:LLI) is happy to supply this operational replace and the dedication of Dahrouge Geological Consulting Ltd (DGC) as our in-nation geological accomplice, which has important mental and sensible worth provides Scotty Lithium challenge. This partnership with DGC specialists has created hyperlinks with native companies on web site to facilitate the BLM drilling program – allowing and execution. Including sourcing an appropriate drill contractor to conduct this system and testing beneath the massive excessive energy lithium and boron in soils just lately found by LLI.
Mr. Adam Ritchie, CEO of Loyal, commented on the Nevada Operational Update as follows:
“We are encouraged by the recent drill results from our neighbors – just 4km from our lease line – as they support our strong lithium-boron soil results announced in September.”
“The lithium increase in Nevada has elevated strain on regulatory permits and useful resource availability, however the assist of our in-nation geological accomplice has helped meet these challenges. We sit up for finishing the MT survey and plan to start our first drilling marketing campaign in Q1 2023.”
ADVANCED SCOTTY LITHIUM PROJECT
The important goal of LLI are the evaporitic lithium compounds present in high-quality-grained clay-sized sediments. Soil geochemical and MT geophysical surveys have been used to successfully goal drilling which found the adjoining Bonnie Claire Lithium Resource by Iconic Minerals Ltd (NI 43-101 Inferred Resources embrace 3.4 Bt @ 1,013 ppm Li for 18.3 Mt LCE) .
LLI has adopted the same components to initially goal a sediment useful resource on the Scotty Lithium Project.
LLI believes that essentially the most potential areas for this goal coincide with the highest two floor targets to the north and west – Target 1 and Target 2. This is supported by the sheer dimension and comparatively excessive grades at floor and subsequent exploration milestones have been accomplished to substantiate extensions of lithium and boron within the substrates on LLI’s claims:
– Extensive Soil Program Complete: Strong Soil Assay Results of as much as 540ppm Li Define Targets – Each Target Has Independent Exploration Potential (LLI Announcement September 21, 2022)
– Engagement of an in-nation geological accomplice: LLI has engaged the companies of DGC to assist the exploration program (allowing and execution).
– Drilling Program Optimized: Historical exploration information was analyzed to develop a 3D basin mannequin to assist optimize the preliminary drilling marketing campaign. The information contained;
o Gravitational geophysical survey o Magnetotelluric (MT) geophysical survey information o Data from a accomplished properly
– Regulatory Drill Permits Submitted: In August 2022, a discover to conduct exploration was filed with the Bureau of Land Management (BLM), Tonopah. LLI was knowledgeable {that a} focused environmental investigation was required.
– Targeted Environmental Survey Complete: In November 2022, an environmental survey by consultants Knight and Levitt started. Results submitted to BLM in assist of drill notification.
Magnetotelluric (MT) Geophysical Survey Commenced: An MT contractor has been contracted to find out the depth of the lithium host basin sediments to additional optimize the drilling packages and assist the area boundaries of the preliminary useful resource estimate. This survey is scheduled to be accomplished in December 2022.
– Drilling Contractors Shortlisted: Upon receipt of expressions of curiosity and bids, figuring out rig availability at the side of begin dates and topic to regulatory approval.
LITHIUM BORON POTENTIAL
Iconic Minerals’ current 2022 drilling marketing campaign has returned notable values for lithium with a most of as much as 5,570ppm and boron at >10,000ppm simply 4km east of the boundary of LLI’s Target 2.
Target 2 is situated within the west-central a part of the challenge space and covers an space of over 10 km2 with >165 ppm lithium and a peak worth of 448 ppm lithium, which is greater than 40% above the utmost soil worth discovered on the adjoining Bonnie Claire useful resource floor , which happens at depth over an space of about 16 km2.
Target 2 soil assay outcomes have confirmed anomalous boron values with a most of as much as 3,360 ppm. The following desk offers an summary of the Target 2 lithium-boron assay outcomes.
SCOTTY LITHIUM PROJECT
The Scotty Lithium Project covers 78.1 km2 and is situated 189 km northwest of Las Vegas and 517 km from Reno within the Tier 1 Mining Jurisdiction of Nevada, USA. The Scotty Lithium Project has two lithium brine and lithium sediment prospects and is contiguous to Iconic Minerals Ltd’s (TSXV: ICM) current Bonnie Claire Project of comparable geology. Scotty can also be lower than 100km from Albemarle’s operational Silver Peak operations in Clayton Valley (NYSE:ALB) and Ioneer’s (ASX:INR) Rhyolite Ridge lithium-boron challenge.
NEVADA LITHIUM
The US presently has just one energetic lithium mine, Albemarle’s Silver Peak operation in Nevada. This requires the US to import lithium from abroad, leaving the nation depending on others to satisfy its elevated lithium wants.
Faced with rising prices, the US has been pressured to reassess its present vitality dependency on rival nations, placing renewed emphasis on a home transition to renewable sources. If the US is severe about vitality independence, it should decide to creating a nationwide provide chain able to supplying a wide range of a lot-wanted minerals. This aim might be achieved by persevering with to show to Nevada and its trendy mining trade.
Nevada’s Potential as a Domestic Lithium Source Answers to the US lithium hole might be present in Nevada. There are presently 15,500 energetic lithium claims within the state, and specialists consider that bringing initiatives on-line can remodel Nevada into a number one world producer.
Projects like Lithium Nevada’s Thacker Pass Mine and Ioneer’s Rhyolite Ridge nearing shoveling maturity can assist Nevada paved the way in making a home provide chain. Loyal Lithium strongly believes that each one useful resource varieties will play a task in assembly future demand and is properly positioned to change into a quick successor in Nevada’s lithium area.
*To view tables and figures, please go to: https://abnnewswire.net/lnk/I497VK34
About Loyal Lithium Limited:
Loyal Lithium Limited (ASX:LLI) is a lithium-based mostly battery minerals and know-how firm exploring extremely potential targets within the famend lithium producing districts of Quebec’s James Bay District and Nevada’s Sarcobatus Flat. The Company’s North American initiatives are situated in Tier 1 jurisdictions with established lithium exploration and mining operations and have glorious entry to infrastructure.
Source: Loyal Lithium Limited
Contact:
Adam Ritchie
Chief Executive Officer
[email protected]
+61-403-462-383
Jane Morgan
Investor and Media Relations
[email protected]
+61-405-555-618