Exciting New Developments at Bonnie Claire Lithium Project

Exciting New Developments at the Bonnie Claire Lithium Project

Nevada Lithium Resources Inc. is thrilled to share significant updates regarding the Bonnie Claire Lithium Project, situated entirely in Nye County, Nevada. The company's latest mineral resource estimate indicates a substantial increase in both size and grade for their resources in the Lower Zone. The data reveals a remarkable 25.634 million tonnes lithium carbonate equivalent (Mt LCE) at an impressive average of 3,085 parts per million (ppm) lithium (Li). Additionally, the project boasts a maiden indicated resource of 5.167 Mt LCE at 3,519 ppm Li and 2.318 Mt boron (B) at 8,404 ppm.

Resource Estimates and Geological Insights

The updated estimates reflect a huge leap in both the indicated and inferred resources. The Lower Zone now stands at 275.85 million tonnes at 3,519 ppm lithium and 275.85 million tonnes at high grades of boron. Comparing this recent estimate to previous reports shows an impressive 68% increase in tonnage and a tripling of lithium grades, now frequently exceeding 6,000 ppm. This growth has occurred even while doubling the cut-off grade for measurement to 1,800 ppm Li.

CEO's Enthusiasm for the Progress

Stephen Rentschler, the CEO of Nevada Lithium, expressed his excitement about these developments, emphasizing the promising future of the project. He stated that the new drilling results demonstrate the vast potential of Bonnie Claire, now recognized as one of the largest lithium resources globally. Rentschler also highlighted the pioneering exploration of high-grade boron, which adds substantial value to the project.

Future Plans and Economic Assessments

The ongoing exploration objectives aim to verify and enhance resource continuity, enabling additional upgrades from inferred to indicated classifications. This aggressive drilling strategy will directly inform the upcoming Preliminary Economic Assessment (PEA), set to be released in the near future, likely detailing significant growth in resource estimates.

Detailed Overview of Resource Stratification

The Bonnie Claire project consists of two distinct geological zones. The Lower Zone, where most exploration efforts are currently focused, features mineralization in lower claystone and sandstone units. The Upper Zone, on the other hand, is characterized by upper claystone mineralization and is expected to be mined conventionally through open-pit methods.

Sustainable Mining Practices

Nevada Lithium is prioritizing sustainable extraction techniques in its operational plans. The company is exploring the Hydraulic Borehole Mining (HBHM) method for the Lower Zone, which promises efficient and cost-effective extraction from depths reaching approximately 2,800 feet. For the Upper Zone, traditional mining techniques will be employed, ensuring minimal environmental impact while maximizing resource recovery.

Metallurgical Processing Insights

The project team has made substantial progress in metallurgical testing. Initial experiments indicate remarkable lithium extraction rates using innovative approaches tailored to the unique mineralogy of the Lower Zone. Notably, sulfuric acid leaching has proven effective, yielding lithium extractions of around 85%, effectively setting the groundwork for commercial viability.

Company Growth and Future Prospects

Nevada Lithium is poised for significant expansion as they harness their strengths in exploration and research. With an eye on global lithium demand and a commitment to shareholder value creation, the dynamic team is focused on advancing the Bonnie Claire Lithium Project, solidifying its standing in the competitive lithium market.

Frequently Asked Questions

What is the significance of the new resource estimate for the Bonnie Claire Project?

The new estimate indicates a substantial increase in both lithium and boron resources, enhancing the project's economic potential and market competitiveness.

How does the new drilling impact the project's value?

The latest drilling results have greatly improved both the size and quality of the resources, making Bonnie Claire one of the largest and highest-grade lithium resources globally.

What mining methods will Nevada Lithium employ?

Nevada Lithium plans to use Hydraulic Borehole Mining for the Lower Zone and conventional open-pit mining for the Upper Zone, focusing on efficiency and sustainability.

What extraction rates are expected for lithium at Bonnie Claire?

The project aims for lithium extractions of approximately 85% using sulfuric acid leaching methods, which are tailored to the unique geological characteristics of the site.

What future assessments are planned for the Bonnie Claire Lithium Project?

A Preliminary Economic Assessment (PEA) is scheduled for completion shortly, which will include the latest resource estimates and refined extraction methods, potentially increasing the project's overall value.

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