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VANCOUVER, British Columbia, Nov. 20, 2023 (GLOBE NEWSWIRE) — Nevada Lithium Assets Inc. (CSE: NVLH; OTCQB: NVLHF; FSE: 87K) (“Nevada Lithium” or the “Firm”) is happy to supply the primary core assay outcomes for its preliminary diamond drill gap from the 2023 drill program at its 100% owned Bonnie Claire lithium undertaking (the “Venture” or “Bonnie Claire”), positioned in Nye County, Nevada. BC2301C was drilled to the geological basement, intersected at 2950 ft (899 m), and is the deepest gap drilled so far at Bonnie Claire.
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Nevada Lithium’s CEO, Stephen Rentschler, feedback: “2301C is the primary drill gap inside our Pre-Feasibility Examine (PFS) useful resource improve space, and we’re delighted with these assay outcomes. Core Gap 2301C is the deepest gap drilled so far, returned amongst the very best grades intercepted on the undertaking so far, and confirms the potential for extra high-grade mineralization. The extension of this core gap to basement, revealing important lengths of further steady excessive grade mineralization, is a superb instance of the Firm’s progress in shortly exhibiting the potential for elevated worth at Bonnie Claire.”
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He continued, “Optionality is among the best belongings of Bonnie Claire. We consider that our intensive land package deal and geology present us with the chance so as to add to the exceptional worth indicated by our Preliminary Financial Evaluation of $1.5 Billion USD (ATAX 8%) utilizing LCE costs of $13,400 tonne2. The vast intercepts of excessive grade mineralization reported in the present day are tremendously encouraging and are just one a part of our formidable examination of Bonnie Claire. Along with our core gap drilling program, our present sonic drilling subject program is, amongst different issues, assessing suitability of strata for open-pit mining strategies. We’re additionally increasing our understanding of the potential for lithium brines at Bonnie Claire with a seismic program, and we look ahead to sharing our conclusions about all these initiatives with the market over the next months.”
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Be a part of Stephen Rentschler, CEO of Nevada Lithium, for a LIVE digital occasion
to be taught extra in regards to the particulars of the importance of the 2219 ppm lithium over 1740 ft discover, and ask questions throughout the interactive Q&A.
Date and time: Tuesday, November twenty first at 12 pm ET / 9 am PT
Highlights:
- Excessive Grade Decrease mineralized zone consists of 1100 ft (335 m) at 3076 ppm Li (1360 to 2460 ft/ 415 to 750m), together with a subinterval of 360 ft (110m) at 4291 ppm Li (1940 to 2300 ft/ 591 to 701m). Samples corresponding to 5390 ppm from 2180 ft (664 m) to 2200 ft (671 m), at 2180 ft and 5080 ppm from 2240 ft (683 m) to 2260 ft (689 m) at 2240 ft, are amongst the very best grades encountered so far.
- Potential for high-grade mineralization past the present useful resource confirmed.
- Higher mineralized zone consists of 370 ft (113 m) at 969 ppm from 30 ft (9.1m) depth.
- Present stratigraphy and mineralization sample confirmed to help in future useful resource improve and exploration drill planning.
- Extra outcomes from the 2023 Diamond Drill program can be introduced as outcomes are obtained and interpreted.
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BC2301C is the primary gap ever drilled past 2000 ft at Bonnie Claire and extends the beforehand encountered high-grade zone by over 400 ft (122 m) in depth. The outlet additionally identifies the potential for important further high-grade mineralization which has not been drill-tested so far.
Assay outcomes from BC2301C embody 3076 ppm Lithium (“Li”) over 1100 ft (335 m) from 1360 ft (415 m) depth within the decrease mineralized zone, inside a broader zone of 2219 ppm Li over 1740 ft (530 m) from 1040 ft (317 m). These outcomes embody samples which have returned amongst the very best grades so far on the Bonnie Claire undertaking of 5390 ppm Li from 2180 ft (664 m) to 2200 ft (671 m), and 5080 ppm Li from 2240 ft (683 m) to 2260 ft (689 m).
Within the higher mineralized zone, assays embody 1171 ppm Li over 180 ft (55 m) inside a broader interval of 969 ppm Li over 370 ft (113 m) from 30 ft (9.1 m) depth.
Pattern assays are introduced herein for Gap BC2301C with outcomes offered in Desk 1
Desk 1: Core assay¹ abstract for drill gap BC2301C
| Drill Gap | From (ft) * | To (ft) | Interval (ft) | Li (ppm) | Feedback |
| BC2301C | 30 | 400 | 370 | 969 | Higher Zone |
| Together with | 160 | 340 | 180 | 1171 | |
| 1040 | 2780 | 1740 | 2219 | Decrease Zone | |
| Together with | 1360 | 2460 | 1100 | 3076 | |
| Together with | 1940 | 2300 | 360 | 4291 | |
| *Outcomes offered in ft (ft). | |||||
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| Drill Gap | From (m) ** | To (m) | Interval (m) | Li (ppm) | Feedback |
| BC2301C | 9.1 | 122 | 113 | 969 | Higher Zone |
| Together with | 49 | 104 | 55 | 1171 | |
| 317 | 847 | 530 | 2219 | Decrease Zone | |
| Together with | 415 | 750 | 335 | 3076 | |
| Together with | 591 | 701 | 110 | 4291 | |
| ** Outcomes offered in metres (m). | |||||
| ¹Intervals offered are core size | |||||
BC2301C Outcomes & Interpretation
Gap BC2301C was deliberate as a part of the PFS infill program to extend grade confidence. Nevertheless, it additionally demonstrates the potential for deeper mineralization at Bonnie Claire and permits better understanding of the deep basin geology. This newly recognized potential is illustrated in a cross-sectional grade comparability from gap BC2301C to BC2201C (Determine 1). BC2201C completed in mineralization at grades of better than 3000 Li ppm (introduced within the Firm’s Information Launch September 29, 2022).
The lithium grades of this drill gap – BC2301C – reveal a really comparable lithology and grade-depth profile to that of present holes within the space (introduced within the Firm’s Information Launch dated September 29, 2022) passing from an higher mineralized claystone horizon, via a barren sandstone horizon, right into a decrease mineralized claystone horizon (Determine 1). In distinction with earlier holes, BC2301C was prolonged to basement, which was encountered at 2,950 ft (899 m) depth, permitting a extra fulsome examination of the decrease mineralized zone.
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BC2301C comprises robust lithium grades near-surface (common 969 ppm Li) to a depth of roughly 400 ft (122 m), a low-grade central part, and a large high-grade part from 1040 ft (317 m) to 2780 ft (847 m) with 2219 ppm Li over 1740 ft (530 m). The decrease Zone consists of excessive grade intervals of 3076 ppm Li over 1100 ft (335 m) and 4291 ppm Li over 360 ft (110 m).
The very best-grade samples returned at BC2301C embody 5390 Li ppm and 5080 Li ppm at 2180 ft (664 m) and 2240 ft (683 m) depth respectively, and signify amongst the highest-grade mineralization encountered so far, at depths better than beforehand drilled on the Venture.
Extra diamond drilling is at present underway at Bonnie Claire. with outcomes to be introduced in the end as assays are obtained and interpreted.
Any capitalized phrases not outlined herein have the that means given to such time period within the Firm’s PEA (as outlined beneath) technical report out there on the Firm’s profile on SEDAR+.
Determine 1: Cross-section grade comparability from drill gap BC2201C and BC2301C
Determine 2: Drill collar location map of holes BC2201C and BC2301C, with part line A-A
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About Nevada Lithium Assets Inc.
Nevada Lithium Assets Inc. is a mineral exploration and improvement firm targeted on shareholder worth creation via its core asset, the Bonnie Claire Lithium Venture, positioned in Nye County, Nevada, the place it holds a 100% curiosity.
Bonnie Claire has a present NI 43-101 inferred mineral useful resource of three,407 million tonnes (Mt) grading 1,013 ppm Li for 18.372 million tonnes (Mt) of contained lithium carbonate equal (LCE), at a cut-off grade of 700 ppm Li2
The PEA for Bonnie Claire signifies a Internet Current Worth (8%) of $1.5 Billion USD (after tax) utilizing $13,400 USD per tonne LCE and after-tax IRR of 23.8%. With an LCE value of $30,000 USD per tonne, the Internet Current Worth (8%) of the Venture is $5.9 Billion USD (after tax) and an IRR of 60.3%2.
For additional info on Nevada Lithium and to subscribe for updates about Nevada Lithium, please go to its web site at: https://nevadalithium.com/
QP Disclosure
The technical info within the above disclosure has been reviewed and accepted by the designated Certified Particular person below Nationwide Instrument 43-101, Dr. Jeff Wilson, PhD, P.Geo, Vice President of Exploration for Nevada Lithium. Dr. Wilson is just not unbiased of Nevada Lithium, as he’s Vice President of Exploration for Nevada Lithium.
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2See Preliminary Financial Evaluation NI 43-101 Technical Report on the Bonnie Claire Lithium Venture, Nye Nation, Nevada authored by Terre Lane, J. Todd Harvey, MBA, PhD, Hamid Samari, PhD and Rick Moritz (Efficient date of August 20, 2021, and Challenge date of February 25, 2022) (the “PEA” or the “Preliminary Financial Evaluation”) as summarized in Nevada Lithium’s information launch dated October 13, 2021, which can be found on Nevada Lithium’s SEDAR+ profile at www.sedarplus.ca. Outcomes of the Preliminary Financial Evaluation signify forward-looking info. This financial evaluation is, by definition, preliminary in nature and consists of inferred mineral assets which are thought of too speculative to have the financial concerns utilized to them that may allow them to be categorized as mineral reserves. There isn’t any certainty that the Preliminary Financial Evaluation can be realized. Mineral assets will not be mineral reserves as they don’t have demonstrated financial viability. There isn’t any certainty that each one or any a part of the Mineral Assets can be transformed into Mineral Reserves.
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On behalf of the Board of Administrators of Nevada Lithium Assets Inc.
“Stephen Rentschler”
Stephen Rentschler, CEO
For additional info, please contact:
Nevada Lithium Assets Inc.
Stephen Rentschler
CEO and Director
Telephone: (647) 254-9795
E-mail: sr@nvlithium.com
Media Inquiries
E-mail: e-mail@nvlithium.com
Discover Nevada Lithium on Twitter
The Canadian Securities Change doesn’t settle for duty for the adequacy or accuracy of this information launch. The Canadian Securities Change has not accepted or disapproved of the contents of this information launch.
Cautionary Word Relating to Ahead-Wanting Statements
This information launch comprises forward-looking statements and forward-looking info (collectively, “forward-looking statements”) inside the that means of relevant Canadian securities laws. These statements relate to issues that determine future occasions or future efficiency. Usually, however not all the time, ahead trying info could be recognized by phrases corresponding to “may”, “professional forma”, “plans”, “expects”, “might”, “will”, “ought to”, “funds”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such phrases together with damaging variations thereof, and phrases that consult with sure actions, occasions or outcomes which will, may, would, would possibly or will happen or be taken or achieved.
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The forward-looking statements contained herein embody, however will not be restricted to, statements relating to: the efficiency of the Venture and outcomes of the 2023 Exploration and Growth Plan (together with, with out limitation, its mineral assets, present claims and its capacity to make the most of world lithium wants); and the efficiency of lithium as a commodity, together with the sustained lithium demand and costs.
In making the ahead trying statements on this information launch, Nevada Lithium has utilized a number of materials assumptions, together with with out limitation: market fundamentals that lead to sustained lithium demand and costs; the receipt of any crucial permits, licenses and regulatory approvals in reference to the long run improvement of Bonnie Claire in a well timed method; the provision of financing on appropriate phrases for the event; building and continued operation of Bonnie Claire; the Venture containing mineral assets; and Nevada Lithium’s capacity to adjust to all relevant rules and legal guidelines, together with environmental, well being and security legal guidelines.
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Traders are cautioned that forward-looking statements will not be based mostly on historic info however as an alternative replicate Nevada Lithium’s administration’s expectations, estimates or projections regarding future outcomes or occasions based mostly on the opinions, assumptions and estimates of managements thought of affordable on the date the statements are made. Though Nevada Lithium believes that the expectations mirrored in such forward- trying statements are affordable, such info includes dangers and uncertainties, and below reliance shouldn’t be positioned on such info, as unknown or unpredictable components may have materials adversarial results on future outcomes, efficiency or achievements expressed or implied by Nevada Lithium. Among the many key danger components that might trigger precise outcomes to vary materially from these projected within the forward- trying statements are the next: working and technical difficulties in reference to mineral exploration and improvement and mine improvement actions on the Venture; estimation or realization of mineral reserves and mineral assets, necessities for extra capital; future costs of treasured metals and lithium; adjustments generally financial, enterprise and political situations, together with adjustments within the monetary markets and within the demand and market value for commodities; potential variations in ore grade or restoration charges; potential failures of crops, tools or processes to function as anticipated; accidents, labour disputes and different dangers of the mining trade; delays or the shortcoming of Nevada Lithium to acquire any crucial approvals, permits, consents or authorizations, financing or different deliberate actions; adjustments in legal guidelines, rules and insurance policies affecting mining operations; foreign money fluctuations, title disputes or claims limitations on insurance coverage protection and the timing and potential end result of pending litigation, environmental points and liabilities; dangers referring to epidemics or pandemics corresponding to COVID-19, together with the influence of COVID-19 on Nevada Lithium’s enterprise; in addition to these components mentioned below the heading “Danger Elements” in Nevada Lithium’s newest Administration Dialogue and Evaluation and different filings of Nevada Lithium filed with the Canadian securities authorities, copies of which could be discovered below Nevada Lithium’s profile on the SEDAR+ at www.sedarplus.ca.
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Ought to a number of of those dangers or uncertainties materialized, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes might differ materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated. Though Nevada Lithium has tried to determine essential dangers, uncertainties and components which may trigger precise outcomes to vary materially, there could also be others that trigger outcomes to not be as anticipated, estimated or meant. Nevada Lithium doesn’t intend, and doesn’t assume any obligation, to replace this forward-looking info besides as in any other case required by relevant regulation.
Photographs accompanying this announcement can be found at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b625c135-ba84-4f32-b3c1-7040c23335bc
https://www.globenewswire.com/NewsRoom/AttachmentNg/e31bd374-4ad8-4332-82b6-568f7ec5f9f5
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