From GlobeNewswire: 2024-04-16 07:00:00

Nevada Lithium Resources Inc. provides updates on the proposed Hydraulic Borehole Mining method to extract mineralized material at the Bonnie Claire lithium project in Nevada. Kinley Exploration LLC has confirmed that accessing depths to 3,000 ft for mining is achievable, with an estimated operating production cost of USD $14.28/ton.

The Company is also commencing an updated Preliminary Economic Assessment (PEA) on the Project, incorporating the latest information on metallurgy, long-term lithium prices, and a new mineral resource estimate. Kinley Exploration LLC is a world leader in Hydraulic Borehole Mining and is working with the Company’s external consultants to evaluate the HBHM technologies at the Bonnie Claire deposit.

The proposed HBHM layout at Bonnie Claire involves a surface-based mining method using a high-pressure water jet to extract mineralized slurry. The mining strategy includes directionally drilled production and jet wells, hydraulic airlift for lifting material to the surface, and a continuous mining rate of 100 tons per hour. The method assumes increased production from caving or flow of mineralized material to the intake.

Kinley Exploration LLC has determined that HBHM can access depths greater than 2,500 ft at Bonnie Claire. The application of hydraulic airlift pumping in the model allows for the lifting of mineralized material to the surface in a cost-effective manner. With a continuous mining rate of 100 tons per hour, the company estimates an operating cost of USD $14.28/ton for the project.



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