Nevada Lithium Resources Inc (CSE:NVLH, OTCQB:NVLHF) released new core assay results from its latest diamond drill hole at the Bonnie Claire lithium project that reveal significant high-grade lithium mineralization.
Drilling encountered high-grade lithium mineralization a depth of 2,500 feet, according to a statement from the company.
The 680-foot intercept marks the thickest zone with over 4,000 ppm lithium recorded to date, the company added.
The lateral extent of the more than 3,000 ppm mineralized zone is expected to expand with additional drilling, Nevada Lithium told shareholders.
Stephen Rentschler, Nevada Lithium’s CEO, hailed the “tremendous” results, noting the mineralized zone remains open in several directions.
“(Drill hole) BC2303C is a step out of 1,510 feet northeast from our previous hole and is over 1,540 feet east from hole BC2201C, where the (over) 3,000-ppm mineralized zone was first encountered,” Rentschler noted.
Five drill holes have penetrated the high-grade mineralized zone exceeding 3,000 ppm, all within the designated prefeasibility study (PFS) resource upgrade area, yet a considerable portion of this zone extends beyond the current resource boundaries, the CEO highlighted.
As such, a re-analysis of the 2024 workplan is necessary to maximize the benefit of the latest set of assays, Rentschler said.
“The project’s PFS resource upgrade drilling locations and depths, previously adjusted to accommodate the discovery of high-grade mineralization, may need to be adjusted once again. It appears that Bonnie Claire has yet to reveal her best to us, and we believe that this world class asset continues to increase in value.”
Nevada Lithium is focused on advancing the PFS, incorporating the latest findings to refine proposed mining methods.
Completion of the PFS is expected by late 2024 or early 2025.