Nevada Lithium files technical report showing significant increase in tonnage and grades
From GlobeNewswire: 2024-12-16 07:47:00
Nevada Lithium Resources Inc. has filed an independent technical report for its Bonnie Claire Lithium Project, revealing significant increases in tonnage and grades. The Lower Zone now has 25.634 Mt LCE at 3,085 ppm Li, Maiden Indicated Resources of 5.167 Mt LCE at 3,519 ppm Li, and 2.318 Mt B at 8,404 ppm Boron. This represents a 68% increase in LCE tonnage and a tripling of average grade compared to the previous resource report.
The Bonnie Claire Project consists of an 18,300-acre land package with paved highway access in Nevada. Resources are divided into Lower and Upper Zones. The Lower Zone shows an Indicated Resource of 275.85 Mt at 3,519 ppm Lithium and 275.85 Mt at 8,404 ppm Boron, with Inferred Resources at 1,561.06 Mt at 3,085 ppm Lithium. The Upper Zone has an Indicated Resource of 188.08 Mt at 1,074 ppm Lithium and 152.11 Mt at 1,519 ppm Boron, with Inferred Resources at 451.10 Mt at 1,106 ppm Lithium and 270.53 Mt at 1,505 ppm Boron.
Drilling in the Lower Zone of the Bonnie Claire Project has led to significant increases in size and grade. The project is potentially unrivaled by other sediment-hosted Lithium projects in Nevada and ranks among the largest and highest-grade Lithium resources globally. The new drilling has resulted in a 68% increase in LCE tonnage, with an average grade tripling to over 3,000 ppm Li, including intervals exceeding 6,000 ppm.
The Technical Report for the Bonnie Claire Project was prepared by Global Resource Engineering Ltd. The Lower Zone remains open in three directions and is planned for underground Hydraulic Borehole Mining. The Upper Zone extends to about 425ft depth and would be mined by conventional open-pit methods. Mineral Resource Estimates for both zones have been reported at different cutoff grades to estimate economic viability and mineral reserves.
Read more at GlobeNewswire: Nevada Lithium files Technical Report for Bonnie Claire