Nevada Lithium Resources Inc (CSE:NVLH, OTCQB:NVLHF) has kicked off a new drill program at its Bonnie Claire lithium project in a bid to capitalize on high-grade lithium and boron mineralization identified in 2023.
The Bonnie Claire project, located in a sedimentary basin along the Walker Lane Trend in Nevada, showed promising results in 2023, with thick high-grade mineralization between 1,500 to 2,500 feet and grades up to 4,154 ppm lithium over 680 feet.
The current drilling aims to establish the continuity of this mineralization, explore new areas, and upgrade the resource categorization.
So far, Nevada Lithium has completed one deep core hole in 2024 and started another, targeting areas with previously identified high-grade mineralization.
CEO Stephen Rentschler expressed enthusiasm about the new drilling initiative, telling shareholders that the program is designed to enhance the impact of the high-grade lithium and boron mineralization identified in 2023 drilling.
“The 2024 drill program is an important part of the dynamic and comprehensive response by the company to the ramifications of this high-grade mineralization,” Rentschler said in a statement.
“We are very excited to see the results of this year’s drilling and are working as quickly as possible to unlock maximum value for our shareholders.”
Results from the current program will be incorporated into an updated Preliminary Economic Assessment, the CEO added, expected in Fall 2024.
Assays from the first hole are expected in about six weeks.