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Live Energy Minerals Enters into Agreement with US Energy Metals to Option McDermitt Lithium East Project
Positions LIVE with exposure to USCM, a leading lithium company in Nevada, the only lithium producing state in the US1. The McDermitt Caldera includes Thacker P
About this update from Live Energy Minerals Corp
[{"type":"text","content":" Positions LIVE with exposure to USCM, a leading lithium company in Nevada, the only lithium producing state in the US1. The McDermitt Caldera includes Thacker Pass, a construction stage project that is positioned to be the first lithium clay producing asset in the US1. The McDermitt Caldera is potentially the largest source of lithium clays in the world. The McDermitt Lithium East Project spans 6,508 acres of Bureau of Land Management claims with a preliminary surface sample of 1,907ppm lithium. Occupies a geologically strategic position on the margin of the McDermitt caldera similar to that occupied by the Thacker Pass project1, which is 19 kilometers to southwest. Positioned to fast-track field studies required to refine and permit targets. Vancouver, British Columbia--(Newsfile Corp. - September 18, 2023) - Live Energy Minerals Corp. (CSE: LIVE) (OTC Pink: GTREF) (\"LIVE\" or the \"Company\") is pleased to announce that it has, along with its wholly-owned subsidiary, Lithium Valley Holdings Corp. (\"LVH\"), entered into an Exploration and Option to Enter Joint Venture Agreement dated September 14, 2023 (the \"Option Agreement\") with respect to the McDermitt Lithium East Project located in Nevada (the \"Project\" or \"MLEP\") with US Critical Metals Corp. (\"USCM\"), a company listed on the Canadian Securities Exchange (the \"CSE\") and its wholly-owned Nevada subsidiary, US Energy Metals Corp. (\"USEM\"), to provide USCM with an option to acquire up to a 50% interest in the Project and a further option to acquire an additional 25% interest for an aggregate total of 75% interest in the Project (the \"Transaction\"). Transaction Highlights Upon the Earn-In Right (as defined herein) being obtained by USEM, this Transaction will position LIVE with exposure to USCM's portfolio of unique assets within the US and their team to fast-track exploration efforts on the MLEP. Subject to completion of this Transaction, USCM will have exposure to the two advanced lithium basins in the US. This includes the Clayton Valley, the only lithium producing basin in the US and the McDermitt Basin, the first potential basin to produce lithium from clay in the US. MLEP is located east of Thacker Pass, which is the largest known lithium deposit in the US and one of the largest in the world with 3.7 million tonnes of lithium carbonate equivalent at 3,...