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Nevada Sunrise Announces Albemarle Corporation Protest of Water Rights Transfer in Clayton Valley, Nevada
Nevada Sunrise Announces Albemarle Corporation Protest of Water Rights Transfer in Clayton...
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[{"type":"text","content":"\n\n\n\nNevada Sunrise Announces Albemarle Corporation Protest of Water Rights Transfer in Clayton Valley, Nevada\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNevada Sunrise Announces Albemarle Corporation Protest of Water Rights Transfer in Clayton Valley, Nevada\nCanada NewsWire\nVANCOUVER, May 16, 2016\n\n\n\n\n\n\nVANCOUVER, May 16, 2016 /CNW/ - Nevada Sunrise Gold Corporation (\"Nevada Sunrise\" or the \"Company\") (TSXV: NEV) announced today that Albemarle Corporation of Baton Rouge, Louisiana, USA (\"Albemarle\") (NYSE: ALB) has filed an official protest with the Nevada Division of Water Resources (\"NDWR\") against the Company's application to transfer the Place of Use and Point of Diversion of its recently acquired water right in the Clayton Valley of Nevada. Albemarle is one of the world's largest producers of lithium chemical products and currently operates the only producing lithium mine in North America in the Clayton Valley at Silver Peak, Nevada.\n\nNevada Sunrise exercised its option to purchase water rights to complement its Clayton Valley lithium brine projects by executing a definitive purchase agreement with an arms-length vendor (see Nevada Sunrise news release dated March 20, 2016). The pre-existing certificated water right allows for 1,770 acre/feet of water use for mining and milling per year (the \"Permit\"). On April 22, 2016, Nevada Sunrise, through its Nevada subsidiary Intor Resources Corporation, filed an application to transfer the Permit from its current location in the adjacent mountain range to a location due east on the desert floor within the boundaries of the Company's Aquarius Project. The proposed Place of Use and Point of Diversion lies directly between a road and a powerline, located approximately 5 kilometres (3 miles) from the town of Silver Peak, Nevada and Albemarle's Silver Peak lithium mine and 8 kilometers (5 miles) from its nearest lithium brine production well. \n\n\"It would appear that Albemarle Corp. does not wish to allow future competition for lithium brine production in the Clayton Valley basin,\" said Warren Sta...