WINNING TICKETOn November 5th, an important election day took place in the United States. Although the election was the main attraction of the day, a written letter was sent by email to shareholders by the CEO of Nevada Lithium Resources. In this letter, several interesting points were raised such as a comparison with Ionner's Rhyolite Ridge project.
With the United States representing only 2 % of the lithium salt supply, it will be interesting to see if the Trump administration will move foward in supporting the exploitation of lithium deposits which is a very important for the American car maker. It would be very surprising if Trump were to fall into the only avenue of oil well drilling. It is certain that his economic advisers will remind him of the great dependence of lithium on its great rival, China. China alone represents 85 % of lithium refining.It will be very interesting to see if Trump will continue to support this industry.
The former Biden administration has supported the Thacker Pass and Rhyolite Ridge projects to the tune of several million. But these investment are clearly insufficient to ensure support of the American car maker. if the United States does want to lose control of the automobile market to the detriment of the Chinese, it will have to support this industry at the very base of the costs related to batteries.
Of course, Trump will bet on oil exploitation regardless of trends, but I don't think that he will abandon his country's car manufacters in favor of those from China. Trump is far too proud of this industry and of his popular slogan MAKE AMERICA GREAT AGAIN. No matter, his economic advisers will remind him. To return to the letter from Mr. Stephen Rentschler, President and CEO of Nevada Lithium Resources, here is what this letter said:
October Newsletter: Nevada's Next Major LI-B Project ?
October has been another important month of Nevada Lithium, with significant developments for both the project, and the US lithium industry.
From a 30,000 ft perpective, General Motors investing USD $625mm to its joint venture with Lithium Americas to develop the Thacker Pass Project was very good news. This was quickly followed by Ioneer's Rhyolite Ridge receiving its final mine permit from the US federal governement. And this news was quickly followed by Lithium Americas' closing its USD $2.26 Billion loan with the US Department of Energy. You could not have asked for a better spotlight of Nevada and sediment hosted lithium deposits like ours.
At Bonnie Claire, the final hole of our 2024 drilling program was no less eventful, with more exceptional results for us to incorporate into our overall development model.
The latest assays from the last hole of the 2024 drilling program showed impressive grades of 3.024 ppm lithium and 0.90% boron over 1,360ft, with peak values reaching 6,150 ppm lithium. Although designed as an infill hole, this hole also extend the high-grade lithium and boron mineralization to the southeast.
These results not only demonstrate the remarkable continuity of our high-grade zone, but also confirm that the mineralization remains open in at least two directions. We remain confident the high-grade mineralization remains open a third direction as well. There is plenty of resource upside at Bonnie Claire, even though we are already one of the largest lithium resources in the world.
We were also happy to announce very high metallurgical recoveries on our high grade lithium and boron mineralization. A two-stage, weak acid leaching process achieved 97% lithium and 98% boron recovery rates. These are early stage results, but it is important to start from high level, and we are clearly very happy with the initial results.
To advance this succes, we've hired Fluor Enterprises, Inc, a global leader in lithium project development. Fluor designed the metallurgical work at Ionner's Rhyolite Ridge, which is looking to be a very close analog to Bonnie Claire. Fluor will develop a full lithium and boron recovery flowsheet and also design the process plant to house those recovery circuits. All of this work will be incorporated into an updated Preliminary Economic Assessment, targeted for completion at the end of Q1 2025.
As we look toward the end of 2024, we expect to soon release important news in the form of an updated resource report. This report will be the first time we will see the resource impact of our recently identified high grade lithium and boron trend.
Following that, we expect to deliver the updated PEA that will reflect the economics of that high grade material. The updated PEA will also reflect our latest understanding of our borehole mining process, and updated cost estimates for building and operating the project.
Thank you for your continued support and interst in Nevada Lithium Resources Inc.
Stephen Rentschler
CEO
In conclusion, Bonnie Claire will be an analogue of hte largest lithium projects in the United States. A project that will stand out for its low cost and grade. As for the volume, I will let you draw your own conclusions.
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