Loyal Lithium Limited (ASX: LLI) is excited to announce the discovery of a significant lithium basin at the 100% owned Scotty Lithium Project. The recent drilling assays have confirmed the presence of a mineralized lithium basin, with an average grade of 1,120ppm lithium at a 700ppm lithium cut-off-grade.
The drilling assays returned spectacular results with a peak lithium value of 4,007ppm. These findings will now be utilized to create a 3D model and robust Exploration Target, marking a significant milestone in the project's development.
The 5.7 km long western basin edge on Loyal Lithium’s claims consists of alluvial fan rocks that may accommodate mining/processing infrastructure and enable access to the basin for a traditional and relatively low-cost surface mining solution.
Adding to the excitement, Nevada Lithium’s (CSE:NVLH) neighboring Bonnie Claire Project recently produced a sample quantity of battery-grade lithium carbonate from the contiguous sedimentary basin drill core. This discovery, only 1 km to the east of Loyal Lithium’s claims, further emphasizes the region's potential.
The Scotty Lithium Project is strategically located 40km north of the mining town of Beatty, 220km from Las Vegas, and 330km from Tesla’s Nevada Gigafactory, with existing all-weather roads and power infrastructure within close proximity.
Loyal Lithium’s Managing Director, Mr. Adam Ritchie, commented:
"The Scotty Lithium Project continues to deliver with spectacular drilling assay results confirming strong lithium mineralization, representing significant resource potential.”
“With the support of a 5.7km western edge, the sedimentary basin could potentially be accessed via traditional mining solutions from surface. The neighboring Bonnie Claire Project has recently completed pilot plant test work to produce a high-grade lithium carbonate from the adjoining sedimentary clay”
Nevada lithium is alive, and the Scotty Lithium Project has shown its potential to play a significant role in the emerging North American lithium supply chain.”
This discovery marks a significant step forward for Loyal Lithium and the broader lithium industry in Nevada. The Scotty Lithium Project's potential contribution to the North American lithium supply chain aligns with the growing demand for lithium in various applications, including electric vehicle batteries.
About us:
Loyal Lithium Limited (ASX: LLI) is a well-structured listed resource exploration company with projects in Tier 1 North American mining jurisdictions in Nevada, USA and the James Bay Lithium District in Quebec, Canada. Through the efficient exploration of its projects, the Company aims to delineate JORC compliant resources.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
