Mineralized Evaporite Stratigraphy Discovered at Macallan As the demand for EVs grows and car manufacturers prepare for government mandates for EV sales requirements, the current lithium market looks to be positioned for continued growth going into the future as demand increases faster than supply. As companies begin to lower the prices of their vehicles, we’ve seen another wave of buyers enter the market, which only increases demand for lithium as they ramp up production.
$SCV.C just released some interesting results with a new discovery at their Macallan project in Clayton Valley (adjacent to the only producing US lithium mine).
- The assay results from the second drill hole in the previous project intersected two sections of ash-rich siltstones, claystone, and a massive volcanic ash unit.
- High grades of up to 461 ppm from the core samples.
- Waters produced from the hole indicate a brine water environment.
https://ca.finance.yahoo.com/news/scotch-creek-discovers-lithium-mineralized-104400383.html
These results are extremely promising, considering that they confirm the potential for a significant amount of high-grade resources in the property. As they plan the next drilling phase, the current $9.7M valuation is definitely something to keep an eye on as they continue to develop the property.