Nevada Lithium Brine Project
Stonewall Lithium Project
Assay results of up to 145.5 ppm Li from shallow auger drilling program
Macarthur Minerals, through its wholly owned US subsidiary, Macarthur Lithium Nevada Limited, acquired the Stonewall Lithium Project which covers an area of approximately 48.64 km2 (12,019 acres) and most of the playa in Nevada’s Lida Valley Basin.
The Lida Valley is located 53 km (32 miles) to the South East of the Clayton Valley Basin, which hosts the United States’ only producing lithium mine. The Stonewall Project is strategically located in the Nevada lithium supply hub, 306 km (191 miles) southeast of Tesla’s new Gigafactory, which has a planned production capacity of 35 gigawatt-hours per year by 2020.
Lithium has been located at Stonewall Lithium Project from a shallow auger drilling program conducted as part of due diligence, for acquisition of the Stonewall Lithium Project. A total of nine auger holes were drilled to depths of between 1.07 – 2.13 meters (3.5 to 7 feet) at various locations across the Stonewall Project playa (dry lake bed). All holes contained lithium with sediment assays ranging from 34.6 ppm Li and up to 145.5 ppm Li.