VANCOUVER, BC, May 4, 2022 /PRNewswire/ - Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) ("Nevada Lithium" or the "Company") and its 50% partner in Bonnie Claire, Iconic Minerals Ltd. (TSXV: ICM) (OTC: BVTEF) (FSE: YQGB) ("Iconic") are pleased to announce that the Plan of Operation ("PoO" or "Plan") request on the Bonnie Claire Lithium Project (the "Project" or "Property"), has been declared complete and accepted by the Bureau of Land Management ("BLM") to advance to the next step of the review process.
Nevada Lithium CEO, Stephen Rentschler, comments: "We are pleased that no significant environmental issues have been found at Bonnie Claire and are excited to continue the advancement of one of the largest lithium deposits in North America. We are proactively working with our 50% partner, Iconic, to anticipate and satisfy the requirements of the regulatory bodies overseeing the Project's permitting. We firmly believe that Bonnie Claire is one of the most attractive global lithium assets remaining in junior developers' hands."
BLM resource specialists have reviewed all the baseline environmental studies for the PoO and have deemed them acceptable. No significant environmental issues were found in the baseline reports. Therefore, BLM considers the Plan ready for analysis under the National Environmental Policy Act (NEPA). The BLM has determined that the level of environmental review required for this Plan is an Environmental Assessment (EA), as was anticipated by the Company. The PoO will be formally granted upon completion of the EA and a public commentary period.
Drilling Exploration Update
Nevada Lithium is also pleased to announce that Iconic, as operator of the initial joint venture work program, has initiated the 2022 exploration program at Bonnie Claire. Work is underway to improve roads, set up water storage and move supplies and machinery to the project. The first drill hole of the year is anticipated to commence in approximately one week. This year's drilling will further delineate the mineral resource, provide additional samples for metallurgical programs, and collect geotechnical data ahead of borehole mining method testing as is required for Prefeasibility.
QP Disclosure
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, and Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
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About Nevada Lithium Resources Inc.
Nevada Lithium Resources Inc. is a mineral exploration and development company focused on shareholder value creation through its core asset, the Bonnie Claire Lithium Project, located in Nye County, Nevada, where it currently holds a 50% interest. A recently completed NI 43-101 Preliminary Economic Assessment returned attractive investment metrics and the Company is actively advancing the Project towards Pre-Feasibility. Learn more: https://www.nvlithium.com/
ON BEHALF OF THE BOARD OF DIRECTORS:
Stephen Rentschler
CEO
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Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements include, but are not limited to, the proposed exploration program and development of the Bonnie Claire Project, and advancement of the Bonnie Claire Project to pre-feasibility. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
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SOURCE Nevada Lithium Resources Inc
