Caeneus Minerals Ltd (ASX:CAD) has commenced ground exploration sampling and sectional mapping programs at the Muddy Mountain Lithium Clay Project in Nevada, U.S.
The Muddy Mountain project is situated 50 kilometres northeast of Las Vegas and covers 2,542 acres.
Previous samples from the area have assayed as high as 5,000 ppm lithium.
Caeneus’ goal is to target a district scale multi-million tonne resource grading in the range of 0.3% to 0.5% lithium.
The new exploration program includes a two-person geological crew tasked to complete ground sampling along pre-defined traverses.
Extensive data will be collected and interpreted for the project area, and the results will be used for subsequent planning.
It is anticipated that the soil geochemistry will provide targets for follow up drilling evaluation for both lithium and boron.
Caeneus also holds the Lida Valley Lithium Brine Project situated within 40 kilometres of the Silver Peak Lithium Mine of Albermarle Corporation LLC (NYSE:ALB).
Caeneus’ share price has increased by 300% since April 2016, last trading at $0.004.
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