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VANCOUVER, British Columbia, Nov. 20, 2023 (GLOBE NEWSWIRE) — Nevada Lithium Resources Inc. (CSE: NVLH; OTCQB: NVLHF; FSE: 87K) (“Nevada Lithium” or the “Company”) is pleased to provide the first core assay results for its initial diamond drill hole from the 2023 drill program at its 100% owned Bonnie Claire lithium project (the “Project” or “Bonnie Claire”), located in Nye County, Nevada. BC2301C was drilled to the geological basement, intersected at 2950 ft (899 m), and is the deepest hole drilled to date at Bonnie Claire.
Nevada Lithium’s CEO, Stephen Rentschler, comments: “2301C is the first drill hole within our Pre-Feasibility Study (PFS) resource upgrade area, and we are delighted with these assay results. Core Hole 2301C is the deepest hole drilled to date, returned amongst the highest grades intercepted on the project to date, and confirms the potential for additional high-grade mineralization. The extension of this core hole to basement, revealing significant lengths of additional continuous high grade mineralization, is an excellent example of the Company’s progress in quickly showing the potential for increased value at Bonnie Claire.”
He continued, “Optionality is one of the greatest assets of Bonnie Claire. We believe that our extensive land package and geology provide us with the opportunity to add to the remarkable value indicated by our Preliminary Economic Assessment of $1.5 Billion USD (ATAX 8%) using LCE prices of $13,400 tonne2. The wide intercepts of high grade mineralization reported today are tremendously encouraging and are only one part of our ambitious examination of Bonnie Claire. In addition to our core hole drilling program, our current sonic drilling field program is, among other things, assessing suitability of strata for open-pit mining methods. We are also expanding our understanding of the potential for lithium brines at Bonnie Claire with a seismic program, and we look forward to sharing our conclusions about all these initiatives with the market over the following months.”
Join Stephen Rentschler, CEO of Nevada Lithium, for a LIVE virtual event
to learn more about the details of the significance of the 2219 ppm lithium over 1740 ft find, and ask questions during the interactive Q&A.
Date and time: Tuesday, November 21st at 12 pm ET / 9 am PT
;elm:context_link;itc:0″ class=”link “Click here to register for the event
Highlights:
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High Grade Lower mineralized zone includes 1100 ft (335 m) at 3076 ppm Li (1360 to 2460 ft/ 415 to 750m), including a subinterval of 360 ft (110m) at 4291 ppm Li (1940 to 2300 ft/ 591 to 701m). Samples such as 5390 ppm from 2180 ft (664 m) to 2200 ft (671 m), at 2180 ft and 5080 ppm from 2240 ft (683 m) to 2260 ft (689 m) at 2240 ft, are amongst the highest grades encountered to date.
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Potential for high-grade mineralization beyond the current resource confirmed.
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Upper mineralized zone includes 370 ft (113 m) at 969 ppm from 30 ft (9.1m) depth.
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Existing stratigraphy and mineralization pattern confirmed to aid in future resource upgrade and exploration drill planning.
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Additional results from the 2023 Diamond Drill program will be announced as results are received and interpreted.
BC2301C is the first hole ever drilled beyond 2000 ft at Bonnie Claire and extends the previously encountered high-grade zone by over 400 ft (122 m) in depth. The hole also identifies the potential for significant additional high-grade mineralization which has not been drill-tested to date.
Assay results from BC2301C include 3076 ppm Lithium (“Li”) over 1100 ft (335 m) from 1360 ft (415 m) depth in the lower mineralized zone, within a broader zone of 2219 ppm Li over 1740 ft (530 m) from 1040 ft (317 m). These results include samples that have returned amongst the highest grades to date at the Bonnie Claire project of 5390 ppm Li from 2180 ft (664 m) to 2200 ft (671 m), and 5080 ppm Li from 2240 ft (683 m) to 2260 ft (689 m).
In the upper mineralized zone, assays include 1171 ppm Li over 180 ft (55 m) within a broader interval of 969 ppm Li over 370 ft (113 m) from 30 ft (9.1 m) depth.
Sample assays are announced herein for Hole BC2301C with results presented in Table 1
Table 1: Core assay¹ summary for drill hole BC2301C
|
Drill Hole |
From (ft) * |
To (ft) |
Interval (ft) |
Li (ppm) |
Comments |
|
BC2301C |
30 |
400 |
370 |
969 |
Upper Zone |
|
Including |
160 |
340 |
180 |
1171 |
|
|
|
|
|
|
|
|
|
|
1040 |
2780 |
1740 |
2219 |
Lower Zone |
|
Including |
1360 |
2460 |
1100 |
3076 |
|
|
Including |
1940 |
2300 |
360 |
4291 |
|
|
*Results presented in feet (ft). |
|||||
|
Drill Hole |
From (m) ** |
To (m) |
Interval (m) |
Li (ppm) |
Comments |
|
BC2301C |
9.1 |
122 |
113 |
969 |
Upper Zone |
|
Including |
49 |
104 |
55 |
Nevada Lithium Intersects 3076 ppm Lithium over 1100ft (335 m) within 2219 ppm
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