The Alkali Lake property is located 12 km (7.5 miles) northeast of Albemarle Corporation’s (formerly Rockwood Lithium), Silver Peak solar evaporation ponds. Silver Peak is the only producing brine-based lithium facility in North America.
In addition to its proximity to Silver Peak, the property is 20 km (12.5 miles) east-northeast of Pure Energy Minerals’ Clayton Valley exploration project.
Preliminary data from ongoing exploration activities on the property, suggest that Alkali Lake could be situated on one of the most prospective areas in the entire basin. Lithium assay results from sediment sampling carried out on the Alkali Lake property confirmed the presence of near-surface lithium at grades ranging from 73 ppm to 382 ppm.
Nevada Energy Metals reviewed detailed analysis conducted by Magee Geophysical Services LLC of Reno, Nevada & Wright Geophysics Inc. of Elko, Nevada. A gravity survey, and 3D gravity + airborne magnetic basin modeling was performed prior to the option agreement.
The completed geophysical survey and associated interpretation indicate the presence of two deep-seated basins on the Property. The first is a circular basin, roughly 1,200 meters (4,000 feet) below surface. The second estimated to be 3 km (1.9 miles) to the east at a depth of about 1,000 to 1,200 meters (3,000 to 4,000 feet).
Like Clayton Valley, Alkali Lake is a textbook fault-bounded, enclosed basin. Interestingly, in the southern part of the Alkali Lake basin is Alkali Hot Springs, an active geothermal system. Hot circulating fluids from geothermal resources dissolve rocks, freeing lithium and other minerals and carrying them up towards surface.
Nevada Energy Metals believes that gravity surveys, and 3D gravity + airborne magnetic basin modeling are important in assessing a number of key properties of the underlain basin at Alkali Lake.
Based upon due diligence conducted to date, Nevada Energy Metals is pleased to be pursuing an opportunity to earn-in to a property with a significant amount of grass roots exploration already completed.
The combination of an enclosed basin in a dry environment, with a geothermal system and possible sources of lithium, suggests that Alkali Lake contains strong mineral potential.
Nevada Energy Metals Inc has entered into an option agreement with Dajin Resources (US) Corp., whereby Nevada Energy Metals may earn up to a 60% interest in Dajin’s 100% owned Alkali Lake lithium exploration project located in Esmeralda County, Nevada. The agreement requires Nevada Energy Metals to make a one-time payment in shares, 3 annual cash payments and to complete certain exploration milestones.
click maps to enlarge