Marquee Resources Limited (ASX:MQR) has obtained highly encouraging results from a recently completed ground gravity survey at the Clayton Valley Lithium Project, Nevada, USA.
Results from the gravity survey identify a northeast trending channel on the eastern edge of the Clayton Valley that is interpreted to be prospective for brine and clay hosted lithium.
The company completed an initial drill programme that confirmed the presence of lithium brine and a lithium hosting horizon on the Western side of the property. These results, coupled with the gravity results presented in this release, has proven that the lithium potential extends further east than previously considered.
The project is approximately 3.5 hours from Tesla’s Gigafactory Number 1, a large lithium-ion battery factory that sits on a gravity high interpreted to represent a graben (uplifted basin sediments), associated with normal faulting adjacent to Pure Energy Minerals current mineral resource.
Drilling on these highly prospective Clayton Valley targets is planned to be completed in Q3-2022 and will test the high-priority targets generated from the gravity survey.
“The results from the gravity data are very encouraging in that they show there is depth potential to identify both brine and clay hosted lithium within the project area,” Executive Chairman, Charles Thomas, said.
“From the results of the survey, we have planned drilling to target the best parts of the channel and we look forward to commencement of drilling later this year.
“We have two fantastic lithium brine Projects in Nevada and are well placed to take advantage of the surge in demand for lithium that is anticipated over the coming years.”
Clayton Valley Project
The Project covers an area of approx. 12km2 of claims in a region that is endowed in both lithium-rich clays and brines. The Project is situated in the southern portion of the Clayton Valley Basin, proximal to the Silver Peak lithium mine which is currently the only producing lithium mine in North America – owned by the world’s largest lithium producer, Albermarle.
Clayton Valley is located 60km south of Marquee’s Kibby Basin Lithium Project and 10km east of ASX-listed Ioneer Ltd flagship Rhyolite Ridge Lithium-Boron Project which has recently been joint ventured with Sibayne Stillwater Ltd.
For further information please visit: https://www.marqueeresources.com.au/
