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Cadence Minerals associate Macarthur ties up with driller on Nevada lithium deposit

Cadence Minerals owns a 15.2% stake in Canada-listed Macarthur
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Railroad Valley is potentially one of Nevada's largest sources of lithium

Macarthur Minerals Limited (CVE:MMS) has signed a strategic alliance with 3PL Operating to explore its Reynolds Springs lithium brine prospect in Nevada’s Railroad Valley.

Cadence Minerals owns a 15.2% stake in Macarthur.

Kiran Morzaria, the AIM-listed company’s chief executive, said: "The Railroad Valley has emerged as potentially the largest lithium brine deposit in Nevada and Macarthur has formed a strategic alliance with an established operator." 

3PL is an experienced oil and gas driller, he added, which is similar to lithium development as the metal is contained in liquid brines and also produced from shallow wells.

The plan is drill or re-enter existing oil wells on the Railroad Valley playa to obtain brine samples and evaluate lithium concentrations at Reynolds Springs.

As well as Nevada, Macarthur also has lithium, iron ore and gold projects in the Pilbara region of Western Australia. 

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