Belmont Resources Inc (TSX-V:BEA) announced that it has started a new drilling program at its Kibby Basin lithium project, which is under a joint venture with Australia’s Marquee Resources.
The companies are planning to drill up to 3,000 metres to target a highly conductive geophysical anomaly that Belmont said has the signature for a potential lithium-enriched aquifer beneath the dried lakebed.
“We are excited to have our third drill program getting underway after our CBC and Lone Star drill programs,” Belmont CEO George Sookochoff said in a statement. “We plan to have plenty of news coming from these three projects throughout the summer."
READ: Belmont Resources says drilling at Lone Star JV continues to intersect wide zones of significant copper mineralization
Drilling will take place over two phases, with Phase I testing the large conductive anomaly at depth and Phase II mainly focused on infill drilling to determine brine volume estimation.
Belmont is hoping to delineate a lithium-enriched brine aquifer deposit at the Nevada project that is amenable to mining, using wells to extract brine for processing to a saleable lithium hydroxide monohydrate product.
The Kibby Basin project is a highly prospective asset located within a 60-kilometre radius of North America's only producing lithium mine, owned by the world's largest lithium producer, Albemarle.
The project contains potentially favourable conditions for the development of lithium-rich brines and has similar features as Clayton Valley which hosts Albemarle Silver Peak lithium mine.
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