Loyal Lithium

Drilling Confirms Significant Lithium Discovery at the Scotty Lithium Project, Nevada, USA

Loyal Lithium Limited (ASX: LLI) (Loyal or the Company) is thrilled to confirm the discovery of a significant lithium basin at the 100% owned Scotty Lithium Project in Nevada, USA. The average lithium grade of the drillholes measures 1,120ppm with a 700ppm cut-off, starting near the surface (9m deep) and spans a 3.6km² area with an average thickness of 108m. Drilling and geophysics data will be utilised for a 3D model and for the creation of an Exploration Target. The basin's 5.7km western edge offers the potential for cost-effective mining due to its alluvial fan rocks, providing excellent accessibility for surface mining. Nevada Lithium’s (CSE:NVLH) neighbouring Bonnie Claire Project has successfully produced battery- grade lithium carbonate from its sedimentary basin drill cores. The Scotty Lithium Project occurs within close proximity to all-weather roads and power infostructure, and is strategically located just 40km north of Beatty, 220km from Las Vegas, and 330km from Tesla’s Nevada Gigafactory.


Highlights:

  • Drilling assays have confirmed the presence of a mineralised lithium basin at the 100% owned Scotty Lithium Project, with an average grade of 1,120ppm lithium at a 700ppm lithium cut-off-grade.
  • The drilling assays returned spectacular results with a peak lithium value of 4,007ppm.
  • Drilling results and geophysical data will now be used to create a 3D model and robust Exploration Target.
  • The 5.7 km long western basin edge on Loyal Lithium’s claims (implied from magnetotellurics1) consists of alluvial fan rocks that may accommodate mining/processing infrastructure and enable access to the basin for a traditional and relatively low-cost surface mining solution.
  • Nevada Lithium’s (CSE:NVLH) neighbouring Bonnie Claire Project, recently produced a sample quantity of battery grade lithium carbonate6 from the contiguous sedimentary basin drill core of the Bonnie Claire Project where drilling has found lithium only 1 km to the east of Loyal Lithium’s claims3,4,5.
  • Scotty Lithium is located 40km north of the mining town of Beatty, 220km from Los Vegas and 330km from Tesla’s Nevada Gigafactory with existing all-weather roads and power infrastructure within close proximity.

Loyal Lithium’s Managing Director, Mr Adam Ritchie, commented:

"The Scotty Lithium Project continues to deliver with spectacular drilling assay results confirming strong lithium mineralisation, representing significant resource potential.”

“With the support of a 5.7km western edge, the sedimentary basin could potentially be accessed via traditional mining solutions from surface. The neighbouring Bonnie Claire Project has recently completed pilot plant test work to produce a high-grade lithium carbonate from the adjoining sedimentary clay”.

“Nevada lithium is alive, and the Scotty Lithium Project has shown its potential to play a significant role in the emerging North American lithium supply chain.”

Figure 1: Scotty Lithium Project –Mineralised Sedimentary Basin - MT traverses projected to the horizontal

Project and Exploration Program Overview

The Scotty Lithium Project is located 220 km northwest of Las Vegas, NV and is contained within the Sarcobatus Flat, a known lithium-bearing sediment basin. Nevada Lithium’s (CSE:NVLH) neighbouring Bonnie Claire Project is also contained within the same basin. Early this year, Nevada Lithium purchased Iconic Minerals Ltd. who in 2021 completed a PEA on the resource at the Bonnie Claire project.8


Click here for the full ASX Release

This article includes content from Loyal Lithium Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

LLI:AU
The Conversation (0)
Galan Lithium

HMW Project Update

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to provide a further update on the progress at its 100% owned Hombre Muerto West (HMW) Phase 1 lithium brine project. Lithium inventories continue to build in the HMW Phase 1 ponds, in line with Feasibility Study expectations, which will provide the feedstock for the HMW processing plant. Over the last month, Galan has re-worked its construction activities to preserve cash with a view to procuring both a definitive sales agreement and an associated funding package for the Project in the short term.

Keep reading...Show less
Premier1 Lithium

Strategic Project Review Commenced: Gold and Copper Potential

Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) is pleased to provide an update on the Company’s activities including a recently commenced strategic review of all exploration assets. The strategic review follows the recent refresh of the board and management including new Managing Director, Chair and Exploration Manager, as well as the relocation of all company functions to Perth.

Keep reading...Show less
Cleantech Lithium

Update on "Expressions of Interest" RFI Process

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile, comments on the Chilean Government's announcement yesterday on the "Expressions of Interest" ("RFI"), which is part of the process towards award of a Special Lithium Operating Contract ("CEOL") required to develop lithium projects in the country. As previously announced on the 17th June 2024, the Company submitted RFIs for the advanced Laguna Verde and Viento Andino projects and three others in Joint Ventures ("JV") and, as per yesterday's update, now expects to hear back by the end of August 2024. CTL believes it is well positioned to meet the criteria set out by the Government as evidenced by CTL's advancement in Direct Lithium Extraction ("DLE") and the existing alliance with the local communities to co-develop the Company's lithium projects.

Keep reading...Show less
White Cliff Minerals

IOCG and Epithermal Mineralisation Discovered in Maiden Field Program at Great Bear Lake

Canadian Government grants received to further exploration

White Cliff Minerals Limited (“WCN” or the “Company”) is pleased to announce that widespread, IOCG-U polymetallic, mineralisation has been visually observed1 during the first week of its maiden fieldwork program at its Great Bear Lake U-Cu-Au-Ag Project in northern Canada.

Keep reading...Show less
Jindalee Lithium

Entitlement Offer Prospectus

Jindalee Lithium Limited (ASX:JLL) (Jindalee, the Company) is pleased to share its Entitlement Offer Prospectus.
Keep reading...Show less
Lithium-ion batteries surrounding lithium's periodic table symbol.

5 Themes from Fastmarkets' 2024 Lithium Supply and Battery Raw Materials Event

Demand for lithium is expected to grow in the next 10 years as electric vehicle proliferation continues and the energy storage sector expands.

While experts are optimistic about the market’s medium- and long-term fundamentals, the current market oversupply and weak EV sales have weighed on prices over the last year.

Although prices have remained subdued through 2023 into 2024, investor interest in the battery metal market has grown, which was evident at Fastmarkets’ 2024 Lithium Supply and Battery Raw Materials conference.

The four-day event saw record attendance, with more than 1,100 attendants and 150 speakers gathering in Las Vegas to learn more about the trajectory of the lithium industry and other key battery raw materials.

Keep reading...Show less

Latest Press Releases

Related News

×