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Nevada Lithium Resources Updates 2023 Exploration Program Progress at 100% Owned Bonnie Claire Lithium Project, Nevada, USA
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2023) - Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) ("Nevada Lithium" or the "C
About this update from Nevada Lithium Resources, Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - August 9, 2023) - Nevada Lithium Resources Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) (\"Nevada Lithium\" or the \"Company\") is pleased to provide an update on the 2023 mineral exploration and development work on its 100% owned Bonnie Claire Lithium Project (the \"Project\" or \"Bonnie Claire\"), located in Nye County, Nevada. The work program is designed to support a Pre-Feasibility Study (PFS), building upon the Company's 2022 NI 43-101 Preliminary Economic Assessment (as defined below) for Bonnie Claire. The PEA (as defined below) indicates a Net Present Value (8%) of $1.5 Billion USD and 23.8% IRR (both after tax) using a $13,400 USD per tonne LCE price1. Highlights: Core drilling program designed to follow-up on the successful 2022 program which returned high grade lithium values at Bonnie Claire, including 3,201 ppm Li over 520 ft (158 m) within a wider interval of 1,315 ppm Li over 2,000 ft (610 m) (see the Company's news release dated December 7, 2022). Expand upon the recent production of marketable battery grade lithium carbonate with the production of marketable battery grade lithium hydroxide and other marketable products (see the Company's news release dated February 27, 2023). Examine the potential for lithium bearing brines at Bonnie Claire through the extension of select core holes past 2,000 feet (610 meters) to the geological \"basement\" combined with results from planned 3D seismic surveys. Nevada Lithium CEO, Stephen Rentschler, comments: \"Following the success of our recently completed financings, we are excited to provide an update on the 2023 work program. The 2023 program is designed to propel the Project towards Pre-feasibility Study (PFS) completion. We will also investigate the potential for lithium bearing brines on the Project and look forward to the possibility of adding even more value for shareholders.\" 2023 Work & Exploration Program The Company is pleased to announce that drilling is expected to commence shortly on the Project. Site preparations have begun under the Plan of Operations (the \"Plan\") that was approved by the US Bureau of Land Management (BLM) last year (see the Company's news release dated November 22, 2022). The permitted exploration area covers 4,146 acres (16.78 square kilometers), of which, 3,271 acres (13.24 square kilo...