Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors
Why invest in SIE?
Sienna Resources: THE INVESTMENT CASE

Sienna Resources primed for busy 2018 as it hails initial work at Slattberg project

Slattberg is a historic mining camp hosting cobalt-nickel-copper-rich massive sulphide mineralization..
Sienna Resources primed for busy 2018 as it hails initial work at Slattberg project
INVESTMENT OVERVIEW: SIE The Big Picture
Pictured - Clayton Valley

Energy metals group Sienna Resources Inc (CVE:SIE) has had a busy couple of months, culminating with exciting news from the newly acquired Slattberg project in Sweden.

Slattberg is a historic mining camp hosting cobalt-nickel-copper-rich massive sulphide mineralisation that occurs within a 2km belt of historic nickel-copper mines and Sienna, in December, struck an exploration and option agreement with EMX Royalty Corp.

The prospect houses 12 past mines and the firm has said it's optimistic about what new mining techniques could achieve here.

Encouraging results..

Encouragingly, initial results from continuing magnetic survey work has defined additional drill targets.

"We are very pleased with the pace and quality of the data being gathered to date….,”Jason Gigliotti, president of Sienna told investors.

READ: Sienna Resources says initial magnetic survey work defines additional drill targets at Slattberg cobalt-nickel-copper project

“Field crews have diligently defined multiple new targets and we expect to be drilling in the coming weeks.”

He added: “We have just closed an oversubscribed placement for $2.5mln and we plan to deploy this cash strategically and immediately.

“Battery metals demand has never been stronger as most car companies and even countries have a plan for an expanded electric vehicle program putting significant long-term upward pressure on cobalt, lithium, nickel, copper and graphite. We plan to be very active in this space in 2018."

At the forefront of a boom..

Sweden is at the forefront of a boom in the mining industry and boasts a low corporate income tax rate, a proactive geological survey, and broad public support for export-led mining, the firm highlighted.

Gigliotti has noted that Northvolt was planning to be the largest battery factory in Europe at around the same size as Tesla's (NASDAQ:TSLA) gigafactory and wanted to source locally as much as possible.

"There are now more than 20 megabattery factories currently being planned or constructed globally, creating a massive demand on the battery metals such as lithium, cobalt and nickel," he has said.

Nevada lithium claims too..

Sienna also has exposure to the lithium market  via its property in the famous Clayton Valley, Nevada - home to the only lithium brine basin in production in North America and just miles from Tesla’s (NASDAQ:TSLA) Gigafactory 1.

In November last year, the firm said it planned to begin operations on its lithium claims in Nevada.

The claims lie directly inside of Pure Energy Minerals' Clayton Valley lithium deposit.

"Pure, which signed a lithium supply agreement with electric car behemoth Tesla Inc (NASDAQ:TSLA), has made good progress on their deposit and we are very optimistic about our project as well," Gigliotti said.

In September, Sienna renewed 60 lithium claims, which lie directly inside of Pure Energy Minerals Ltd's Clayton Valley lithium deposit.

View full SIE profile View Profile

Sienna Resources Timeline

Related Articles

graphite
January 18 2018
NextSource Materials Inc (TSE:NEXT) (OTCQB:NSRCF) may just be the best graphite company few investors know of.
1528891944_Berkwood-Resources---drill-core.jpg
June 13 2018
Lac Guéret Extensions is adjacent to one of the highest grade graphite projects in the world
miners
February 06 2018
Coro Mining is on the move in Chile, with feasibility work nearing completion and new ground to work on

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use