$NVLH hit the mother load in nevada https://ceo.ca/@newswire/highest-lithium-grades-to-date-returned-in-first-core Drill hole BC2201C is the deepest core hole (vertical orientation, PQ & HQ) to be completed on the Property to date, extending to a depth of 2,001 ft (core length). The Company is pleased to report that this drill hole has returned the highest grades of lithium encountered in drilling to date on the Property, and include 3,079 ppm Li over 446.0 ft (136 m) within a wider interval of 1,246 ppm Li over 1,994 ft (608 m). The high-grade interval includes a sample of 5,570 ppm Li over 3.8 ft. Strong grades were also returned near surface including 1,112 Li over 271.7 ft (107.0 ft to 378.7 ft). The core assay results, presented in Table 1, demonstrate the potential for Bonnie Claire to host high-grade intervals at shallow and deeper depth in the basin.
In addition to the lithium, the drill hole also encountered significant concentrations of boron, including 23 of the final 43 samples at the bottom of the hole assaying above the detection limit of 10,000 ppm B. This interval also corresponded to the highest grades of lithium in the hole. The presence of boron in significant concentrations remains to be evaluated in other parts of the basin/deposit; however, presents a compelling potential opportunity as a secondary commodity of interest for the Project. Overlimits for boron are currently being determined at the lab.
Nevada Lithium CEO, Stephen Rentschler, commented: "We are pleased to report that our 50% partner, Iconic, who is operator of our initial joint work program, has advised us of the receipt of core sample assays from the first hole of our 2022 drill program (BC2201C). The high-grade lithium intercepts, both shallow and at depth, bode well for enhanced economics under either the large diameter bore hole mining scenario (see Company's Preliminary Economic Assessment NI 43-101 Technical Report on the Bonnie Claire Lithium Project, Issue date of February 25th, 2022) or in an open pit scenario.
The discovery of significant levels of boron also introduces the potential for further upside, in addition to the potential for potassium fertilizer production as currently envisioned for the Project", added Mr. Rentschler. "These strong core sample assays are part of the initial work program, estimated to cost $5M USD, that has been fully funded as part of the Option Agreement, whereby the Company obtained its 50% ownership of the Project. We firmly believe that Bonnie Claire is one of the most attractive global lithium assets remaining in junior developers' hands".
Currently, there are two (2) core rigs and one (1) mud rotary rig in operation on the Property. As of September 28th, 2022, the Company has completed a total of 7,201 ft (2,195 m) of drilling – 6,601 ft (2,012 m) coring, and 600 ft (183 m) rotary – with two (2) core holes completed, in addition to two (2) core holes and one (1) rotary hole actively drilling. See Figures 1 and 2.