Sienna Resources Inc (CVE: SIE) has acquired the Esmeralda project in Clayton Valley, Nevada, which is prospective for lithium, and plans to start operations shortly, it said.
The group's president Jason Gigliotti said: "Lithium is one of the most exciting arenas in mining today."
He noted lithium was not only understood by the established mining community, but also by millennials mainly due to the popularity of electric car maker Tesla (NASDAQ:TSLA), therefore making lithium exploration appealing to a wide array of investors.
"This new prospect directly borders Lithium X Energy Corp and is in direct vicinity of Pure Energy Minerals Limited and Albemarle in the Clayton Valley which is the primary address for lithium brines in North America.
"We are planning to commence operations shortly and management has a renewed focus at a time we feel the junior market is in the early stages of significant recovery," he said.
Clayton Valley is one of the few locations to contain commercial-grade lithium-enriched brine and recently Pure Energy Minerals Limited (CVE: PE) signed a supply agreement with Tesla to potentially supply lithium hydroxide from its deposit