New Point Exploration has announced that it has acquired Goldhat Resources, which holds a long term, exclusive lease of certain unpatented mining claims known as the Empire Lithium Property.
New Point Exploration (CSE:NP) has announced that it has acquired Goldhat Resources, which holds a long term, exclusive lease of certain unpatented mining claims known as the Empire Lithium Property.
The Empire Lithium Property is located in the San Emidio Desert, Nevada, 100km north-northeast of Reno, and covers approximately 600 acres. The property is in the northeastern corner of the Walker Lane trend, a structurally complex tectonic zone. This zone is still geologically active with numerous earthquakes and recent volcanic activity. Although the San Emidio Valley is the site of drilling for geothermal energy exploration and development, previous drilling has not been directed at a lithium brine or minerals model.
A soil sampling program in 2016 produced lithium values ranging from 78.8 to 600 ppm with a median value of 300ppm. New Point is currently in the process of preparing an initial exploration program for the property, expected to commence soon.
As quoted in the press release, president and chief executive of New Point, Bryn Gardener-Evans said:
“We are excited to add a promising lithium property to the portfolio at a time when lithium is receiving heightened market attention due to the emerging battery and electric vehicle markets. This property is of particular interest due to its geological setting and the presence of lithium in active geothermal fluids and surface salts in the San Emidio Desert, which reflect many of the same characteristics of lithium brine deposits in Clayton Valley, Nevada and South America.”