Categories: Energy
Topics: Lithium Stocks

Profit-Advantage on Rare USA Lithium Discovery

Hybrid prospect generator Nevada Sunrise Metals (TSX-V: NEV)(OTC: NVSGF) — currently trading around C$0.20 per share — has received preliminary geochemical analyses for borehole GEM22-03 at the flagship, 100%-owned Gemini Lithium Project, Nevada.

With additional borehole assays still pending, initial results reveal that the upper part of the hole has intersected lithium-bearing sediments in the characteristic lithium-bearing green clay that was encountered in the first two holes from Phase-1 — GEM22-01 and GEM22-02 — drilled earlier this year:

• GEM22-01 returned 327 milligrams per liter ("mg/L") lithium over 220 feet (67 meters) from 600 to 820 feet with a peak value of 519 mg/L lithium
• GEM22-02 returned an average of 116 mg/L lithium over 460 feet (140 meters) from 600 to 1,120 feet (201 to 341 meters) with a peak value of 286 mg/L lithium

Those results represent a new discovery of lithium-bearing sediments — as well as a lithium-bearing brine — in the western Lida Valley, which has not been historically drill-tested for lithium mineralization. 

The ongoing Phase-2 program is focused on deeper drilling to test the extent and continuity of wide zones of lithium-bearing clays and water (potential brine) as a follow-up to the two aforementioned holes from Phase-1. 

The drilling of GEM22-03 is progressing smoothly — currently at a depth of around 1,380 feet (420 meters).

Based on results received thus far, the successful intercept of the same green clay formation in hole GEM22-03 — which is being drilled more than a mile from hole GEM22-02 — represents an encouraging development that significantly expands the known strike length at Gemini.

Further, vectoring in on a potential brine beneath the known lithium-bearing clay layers could prove to be a real game-changer for the project’s overall development and future economics. 
A total of 143 additional sediment samples have been collected from hole GEM22-03 representing the clay zones intersected to-date between 300 and 1,280 feet (91 to 390 meters). Those samples have been submitted to ALS Group USA in Reno for assaying. 

Groundwater samples exhibiting elevated conductivity and total dissolved solids have also been collected from hole GEM22-03 in multiple zones beginning at 500 feet (152 meters) with the most recent groundwater sample collected at 1,360 feet (414 meters). 

To-date, 23 groundwater samples from the hole have been submitted to Western Environmental Laboratories in Reno for analysis. 

With Phase-2 drilling continuing as planned and with clay and water samples now at the labs awaiting processing, we’ll be watching closely as those assays are released over the coming weeks and months.
 
In the meantime, be sure to check out Gerardo Del Real’s late-breaking exclusive interview with Nevada Sunrise Metals CEO Warren Stanyer for a more in-depth analysis of the newly-released assays and the overall project dynamics.

Mike Fagan
Editor, Resource Stock Digest