Nevada Lithium Seismic Survey Defines Location of Major Fault Zone

Identifies Brine Target for Drill Test

VANCOUVER, British Columbia, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Nevada Lithium Resources Inc. (CSE: NVLH; OTCQB: NVLHF; FSE: 87K) (“Nevada Lithium” or the “Company”) is pleased to announce, that further to its press release dated October 17, 2023, it has completed interpretation of a seismic survey conducted at its 100% owned Bonnie Claire lithium project (the “Project” or “Bonnie Claire”). A major north-south-trending fault zone has been identified as a target for lithium brine exploration. This development is part of the current work program that commenced in the summer of 2023 (“2023 Exploration and Development Plan”). The workplan is advancing the Company’s lithium resource towards pre-feasibility and is examining the potential for additional opportunities in lithium brines. 

Stephen Rentschler, CEO of Nevada Lithium Resources, comments: “We are pleased to report that the seismic survey first announced on October 17th, 2023, has yielded important results. The survey has identified a major north-south trending fault zone, similar to that found at Clayton Valley, the location of the only producing US lithium brine mine, 47 miles (75km) north of Bonnie Claire.¹ Nevada Lithium has targeted an initial drill location for brine evaluation and preliminary work is underway to determine the timing of this drill test.”

He continued, “Nevada Lithium is confident that Clayton Valley provides a viable exploration model for lithium bearing brines at Bonnie Claire. The results of this seismic survey mark another important step in confirming the Company’s exploration model. Notably, the seismic survey covered less than 8% of the overall Project. There remain significant seismically untested areas to both the south and north within the Property, along-strike from the interpreted fault zone. The opportunities for brine evaluation are an important component of the Company’s overall value proposition, anchored by ongoing Preliminary Feasibility Study work on the sediment-hosted lithium deposit at Bonnie Claire.”

¹ Pure Energy Clayton Valley PEA, 2017

Join Stephen Rentschler, CEO of Nevada Lithium for a LIVE virtual event  to learn more about insights gained from the Company’s seismic reflection survey, and ask questions during the interactive Q&A. Date and time: Wednesday, January 10th at 3 pm ET / 12 am PT

Click here to register for the event >

The seismic survey was conducted by Hasbrouck Geophysics, Inc. of Prescott, Arizona. Hasbrouck has conducted several surveys in Nevada including at Clayton Valley where a seismic survey helped identify an extension of a lithium brine bearing fault zone. The Bonnie Claire survey identified a similar, major north-south trending fault zone on the eastern portion of Nevada Lithium’s claim block. The fault zone is over 500 meters (1,600 feet) wide and down-drops the stratigraphy sharply to the east. A plan view of the seismic interpretation is shown below in Figure 1.