TSXV:CELL - Post Discussion
Post by
MarketMakerss on Mar 06, 2024 5:05pm
CELL Files Clayton Valley Lithium Project NI 43-101 Report
Today, Grid Battery Metals (CELL.v EVKRF) announced the filing of its NI 43-101 Technical Report for its Clayton Valley Lithium Project in Nevada.
Holding the only producing lithium brine system in the US, Clayton Valley holds amazing potential for lithium clay-hosted deposits and is renowned for its lithium extraction potential.
CELL has been actively exploring the Clayton Valley Project for several years and is poised for significant future developments as its claims are border Albemarle's (ALB) Silver Peak Lithium Project, the only producing lithium mine in North America that is targeting doubled lithium production by 2025.
Century Lithium (LCE CYDVF) additionally neighbours CELL and has issued a pre-feasibility study referencing a 26% after-tax internal rate of return and an NPV of $1.03B, hinting at the potential of CELL's project.
Prepared by Rangefront Geological, the updated and revised NI 43-101 Technical Report used results of prior soil samples, geological surveys and drilling to help identify structure and target areas favourable to lithium accumulation and determine the next steps for its overall exploration plan.
The recommended 2024 exploration plan includes additional CSMAT geophysical survey work, additional soil sampling, and a subsequent multi-hole exploratory drilling program on the property.
As Nevada has ranked as the #1 Mining Jurisdiction in the world again, CELL's plan is "to realize the potential of this area of Nevada for lithium-hosted brine and claystone for our shareholders.", as detailed by CELL President & CEO Tim Fernback:
"We are happy to report the filing of the NI 43-101 Technical Report on our Clayton Valley Lithium Project. The recommendation for future exploration ultimately includes a drilling program as a logical next step here on the property. The timing is good for the Company, and with approximately CAD$7.0 million in our treasury, we are well-positioned and fully funded for our 2024 exploration season."
Amid automakers reshaping mineral supply chains for EVs to secure future supplies of critical minerals, CELL is well positioned in Nevada due to its highly favourable conditions, low political risk, reliable crews, guarantee that funds raised will be directly invested in exploration and a team that boasts a decade of experience in lithium exploration in Nevada.
Posted on Behalf of Grid Battery Metals Inc.
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