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Nevada Lithium Resources Updates 2022 Work Program Progress At Bonnie Claire Lithium Project
VANCOUVER, BC, April 6, 2022 /CNW/ - Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) ("Nevada Lithium" or the "Company") and its 50% partner
About this update from Nevada Lithium Resources, Inc.
[{"type":"text","content":" VANCOUVER, BC, April 6, 2022 /CNW/ - 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 provide an update on the 2022 mineral exploration and development work that has commenced on the Bonnie Claire Lithium Project (the 'Project' or 'Property'), located in Nye County, Nevada. Nevada Lithium CEO, Stephen Rentschler, comments: \"We are excited about the progress that is being made on the 2022 work program, and would like to thank our partner, Iconic Minerals, for its leadership as operator of this initial joint venture program. The 2022 program is designed to significantly de-risk Bonnie Claire and unlock the considerable value indicated by our recent Preliminary Economic Assessment (PEA). We believe that current lithium prices, which are now over 400% greater than the PEA base case price scenario, accurately reflect the need for additional supplies of lithium to the market. We firmly believe that Bonnie Claire is one of the most attractive global lithium assets remaining in junior developers' hands.\" Drill contracts for mud rotary and core drilling at the Property have been signed with initial drilling expected to begin shortly. Site preparations have begun, with initial work being conducted under the Notice of Intent (\"NOI\") environmental permit currently in place. Further drilling will commence after the approval of the Plan of Operations. The drill program will include core and mud rotary drilling. The core drilling contractor is American Drilling Corporation based in Spokane Valley, Washington. All mud/rotary holes will be drilled by Harris Exploration Drilling based in Fallon, Nevada. The core program will test to depths of 2,000 feet (610 meters) and gather material for metallurgical testing, and geochemical sampling to support a targeted increase in mineral resource confidence from the inferred category to the indicated and measured categories. As part of the program, geological core logging, geotechnical analysis, and water sampling will be completed. Geophysical surveying of the core hole will also be completed and aid in targeting permeable zones ahead of pumping tests. The next phase of metallurgy has begun using previousl...