Looking Forward to the New Targets From the Drill Program They recently released another drilling update at their Macallan East project in Nevada‘a Clayton Valley.
- Completed two core holes on the property with both reaching over 1000ft in depth.
- The first hole bottomed in a pure magnesium-calcium carbonate lithology and contains volcanic ash interbeds, which places the evaporative deposit into the regional lithium host of the Esmeralda Formation.
- The second hole encountered ash-rich, lacustrine sediments below gravel cover, then passed through 100ft of a cobble alluvial unit. Below this, the hole entered a second section of volcanic ash stratigraphy. This lower ash zone represents a previously unknown target further increasing the potential underground resources.
Additionally, with the data now being compiled it will provide the necessary information for future drilling at the property. As the lithium market continues to experience unprecedented growth, SCV is well-positioned considering their properties are adjacent/in proximity to the only active US lithium mine. And as NA focuses more on domestic production, NA lithium mines are only going to become even more valuable as governments aim to decrease international reliance.
https://www.globalxetfs.com/lithium-is-key-to-current-and-next-generation-battery-tech/
Overall, the current $13M valuation provides a significant gap considering the future potential and peers in the area. Definitely keep a close eye out on SCV as they progress with their exploration efforts.