RE: n/a lithium...24 Sep 2020 13:52
Tc :
Macarthur Minerals Limited (TSX VENTURE: MMS) (the "Company" or "Macarthur Minerals") is pleased to announce that it has entered the United States lithium supply sector through an agreement to acquire the Stonewall Project in Nevada, which is prospective for lithium ("Stonewall Project"). The Stonewall Project covers an area of approximately 5,700 acres (23 km2) and the majority of a Salt Lake Playa in Nevada's Lida Valley Basin, the adjacent basin to the Clayton Valley Basin, which hosts the United States' only producing lithium mine. The Stonewall Project is considered essentially "drill ready" and a United States mineral exploration company is being engaged to undertake a shallow drilling program for due diligence purposes.
David Taplin, President, CEO and Director of Macarthur Minerals commented:
"Acquisition of the Stonewall Project located in Nevada is an exciting opportunity for Macarthur Minerals as its entry into the United States lithium supply market. The Stonewall Project is strategically located 306 kilometres from Tesla's Gigafactory in Nevada and is 48 kilometres from Albemarle's Silver Peak Lithium Mine, the only operating lithium mine in North America. The acquisition adds to Macarthur Minerals' extensive and highly prospective Western Australian 'hard rock' lithium exploration asset portfolio to give the Company a truly global lithium strategy."
Strategic Location of the Stonewall Project
As indicated in Figure 1, the Stonewall Project is strategically located in the Nevada lithium supply hub, 306 kilometres (191 miles) southeast of Tesla's new Gigafactory, which has a planned production capacity of 35 gigawatt-hours per year by 2020(1).
The Stonewall Project is located within 53 kilometres (33 miles) of New York Stock Exchange listed Albemarle Corp's Silver Peak Lithium Mine located in Clayton Valley, Nevada. Silver Peak is North America's only producing lithium mine and has been operating since 1967.
The Stonewall Project is located within 48 kilometres (30 miles) of TSX-V listed Pure Energy Minerals Limited's Clayton Valley South Project, which has an NI 43-101 Inferred Resource of 816,000 metric tonnes of LCE(2). Pure Energy Minerals Limited's Clayton Valley South Project is one of only two lithium projects to have publicly entered into a conditional lithium agreement with Tesla Motors Inc.
Geological Setting of Stonewall Project
Figure 2 shows the location of the Stonewall Project over the majority of a Salt Lake Playa consisting of 38 Placer Mine Claims, located in the Lida Valley, Nevada.
The Stonewall Project is located in an intermontane basin and surrounded by strong potential tertiary volcanic lithium source rocks. The lithium source rock includes flows and tuffs that likely extend below the alluvial cover.
The Stonewall Project is located in the mining friendly Nye and Esmeralda Counties of Nevada and is serviced by excellent infrastructure with access to power, water, labour and i
Sign In
Follow the stocks
