Nevada Lithium Unveils Significant Lithium Resource Expansion

Nevada Lithium Resources Inc. Unveils Progress on Bonnie Claire Project

Nevada Lithium Resources Inc. (CSE: NVLH; OTCQB: NVLHF; FSE: 87K) recently filed an independent technical report detailing exceptional advancements in its Bonnie Claire Lithium Project. This significant report, titled "Mineral Resource Estimate NI 43-101 Technical Report, Bonnie Claire Lithium Project," highlights updates aimed at enhancing transparency regarding the Company’s lithium resources.

With the report prepared by the experienced team at Global Resource Engineering Ltd., it serves as a pivotal update following extensive drilling efforts and mineral assessments at the Bonnie Claire site. These updates comply with the strict protocols established under the National Instrument 43-101.

Impressive Resource Estimates and Discoveries

Nevada Lithium’s CEO, Stephen Rentschler, expressed enthusiasm regarding the discoveries made within the project. He noted how new drilling has markedly increased the inferred mineral inventory, establishing Bonnie Claire as one of the highest-grade lithium resources globally. The drilling efforts have revealed a total of 25.634 million tonnes of lithium carbonate equivalent (LCE) at impressive grades of 3,085 parts per million (ppm) lithium.

Additionally, the Company announced maiden indicated resources of 5.167 million tonnes of LCE at even higher average grades of 3,519 ppm lithium, alongside 2.318 million tonnes of boron at a remarkable grade of 8,404 ppm. This achievement markedly positions the Bonnie Claire Project among premier lithium mining assets.

Notable Increases in Resource Estimates

Comparing these results to previous reports, the latest findings mark a staggering 68% increase in the tonnage of lithium carbonate. Notably, the average grade of lithium resources has tripled, exceeding 3,000 ppm in some intervals, with a few sections even surpassing 6,000 ppm. This enhancement is attributed to a new cut-off grade set at 1,800 ppm, which was previously less than half that figure, thereby reflecting the quality of the mineralization found within the project.

Moreover, these findings outline a significant high-grade boron resource which, according to Rentschler, adds substantial value to the overall economic perspective of the project.

Understanding the Bonnie Claire Project

The Bonnie Claire Project spans an impressive 18,300 acres, featuring easy access via paved highways, located strategically for logistical efficiency. The mineral resources have been categorized into two primary zones: the Lower Zone and Upper Zone, each with defined characteristics, opening up new opportunities for exploration and exploitation.

The Lower Zone hosts the bulk of identified lithium and boron, boasting an indicated resource of 275.85 million tonnes at 3,519 ppm lithium and a boron resource of 275.85 million tonnes at 8,404 ppm. In terms of inferred resources, a considerable 1,561.06 million tonnes at 3,085 ppm lithium indicates vast potential for future extraction efforts. The Upper Zone, while presenting a lower grade, offers further indicated and inferred resources, making the combined asset compelling for development.

Future Development and Strategy

As a direct result of the updated mineral resource estimates, Nevada Lithium plans to integrate these findings into a forthcoming Preliminary Economic Assessment, expected to finalize by the end of the first quarter next year. This assessment will play a vital role in crafting the path forward for project development and possible expansion.

The Company remains committed to advancing the Bonnie Claire Project, focusing on exploring additional drilling opportunities, verifying existing resources, and planning for the sustainable development of the asset, aiming for the long-term creation of shareholder value.

Frequently Asked Questions

What are the recent developments at the Bonnie Claire Project?

The recent technical report revealed a significant increase in inferred lithium resources and the introduction of maiden indicated lithium and boron resources.

How much lithium can be extracted from the Bonnie Claire Project?

Current estimates suggest approximately 25.634 million tonnes of lithium carbonate equivalent, with significant grades detected during recent drilling.

What techniques are used for resource extraction at Bonnie Claire?

The project will employ Hydraulic Borehole Mining methods, optimizing the extraction of lithium and boron from the Lower Zone.

Why is the Bonnie Claire Project important for Nevada Lithium?

This project positions the Company in a strong market position within the lithium sector, underscoring its potential to meet growing global demand.

Who oversees the technical aspects of the Bonnie Claire Project?

The technical information is reviewed and approved by qualified professionals including Dr. Jeff Wilson and Terre Lane, ensuring industry standards are met.

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