Lithium Consolidated Mineral Exploration (ASX:LI3) has emerged as the largest land holder for lithium brine exploration in the U.S. state of Nevada, known for lithium brine rich geology.
The company recently achieved this status after staking 96 additional claims in the 80% owned Teels Project in Mineral County, Nevada.
LCME completed an initial public offering (IPO) during March, which saw it raise $5.3 million and debut on the ASX.
The company holds 40,480 acres of lithium claims in Nevada across two projects and holds additional lithium exploration assets in both Australia and Botswana.
LCME is currently conducting pre-drilling exploration in order to plan for its drilling program in Nevada.
The targeted lithium in brine reservoirs of the South Big Smoky Valley and Teels Marsh basins remain unexploited, while the Clayton Valley basin reservoirs to the south have produced lithium brine for over 40 years.
The South Big Smoky Valley and Teels Marsh basins are prospective for lithium in brine mineralisation with volcanic sources of lithium and long-lived tectonic activity providing the requisite geological conditions for lithium leaching, migration and brine concentration.
LCME’s large land positions could host one or more standalone lithium brine operations based on evaporation ponds in the event of a successful discovery.
The company’s Nevada location means its projects are proximate to the Tesla Inc (NASDAQ:TSLA) Gigafactory and world-class mining infrastructure.
Nevada is home to North America’s only lithium brine production operation, Silver Peak, owned and operated by Albemarle Corporation (NYSE:ALB).
This makes Nevada a suitable setting for developing new lithium brine processing facilities.