Project details
Project Type:Lithium-in-brine, possible Li claystone Lithium/boron/potassium enriched brine in a playa or salt marsh setting
Location:Northern Esmeralda County, West Central Nevada In an area of considerable exploration and development activity. Immediate vicinity of operations at Albermarle’s Silver Peak “mine”, which is currently the only domestic lithium-producing resource in the United States. Albemarle plans to double site capacity by 2025.
Highlights:Near surface aquifers identified to date that are amenable to low cost, sustainable mining and processing methods.
Ownership: 100% Lithium Corporation, Morella Corp. (ASX:1MC) Joint Venture earn-in 60% interest.
Material: Lithium
Size: Approximately 11,360 acres (4,597 hectares)
Access: Excellent access to transportation and power infrastructure. All-weather gravel roads to state highways. Maintained gravel roads ring the playa. Power ~10 miles from the property. Village of Dyer ~12 miles south. Town of Tonopah ~50 miles east.
The geological setting at Fish Lake Valley is highly analogous to the salars of Chile, Bolivia, and Peru, and more importantly to the nearby Clayton Valley, where Albemarle operates its long running Silver Peak lithium-brine production facility.
Our strategy for lithium exploration
Lithium Corporation’s Nevada lithium interests are located in the epicenter of lithium exploration, development and production in the United States.
The country’s most significant lithium assets are within a short drive. Tesla’s Gigafactory is less than 200 miles northwest, and Albemarle’s Silver Peak lithium production facility, the only domestic lithium-producing resource in North America, is just over 22 miles SE.
Mineral rich North America offers robust mining and processing expertise, mining-friendly governments, fiscal stability with sophisticated financial markets, as well as high standards for environmental protection, human rights, labor, and workplace safety. These attributes combine to secure the state of Nevada’s recognition as the World’s Top Mining Jurisdiction.
Over time, interstitial formational waters in contact with these tuffs have become enriched in Lithium and could possibly be amenable to extraction. Albemarle’s Silver Peak operation, the only domestic US lithium producer, is located in Clayton Valley, Nevada, only 22 miles (35 km) to the SE of Fish Lake Valley.
The two regions present a highly identical geological setting. Silver Peak, the only lithium carbonate brine producing plant in North America, has been producing since 1967. After opening, Silver Peak was responsible for the closure of several Li enriched pegmatite mines due to the advantageous economics brine extraction has over hard rock mines.
The geological setting at Clayton Valley and Fish Lake Valley is highly analogous to the salars of Chile, Bolivia, & Peru. Preliminary sampling here by Lithium Corporation indicates surficial Lithium enrichment can be found on par to that seen at Silver Peak. Fish Lake Valley access is excellent with all weather, gravel roads leading to the property from Highways 264 and 265. Maintained gravel roads ring the Playa. Power is available approximately 9 miles (15 km) from the property and the village of Dyer is approximately 12 miles (20 kms) to the south and the town of Tonopah, Nevada is approximately 46 miles (75 km) to the East. Near surface brine sampling in April/May 2011 encountered lithium/boron enriched brines where the best result was 140mg/L lithium.
In addition to these strongly anomalous lithium values, boron is also elevated with the highest value to date of 2500 mg/L., and Potassium is also enriched, with the best result being 7200 mg/L. The highest values appear to be confined to an area approximately one-half mile square that is within a larger zone of moderate to highly anomalous lithium and boron, which is 1 ½ miles long by 1 mile wide. Wet ground conditions precluded drilling the prospect in 2011, however the Company did manage to conduct a short drill program here in the Fall of 2012.
Fish Lake Valley
Development Timeline
Partnerships
April 29, 2021 | Letter Of Intent (LOI) signed by Lithium Corporation and Morella Corporation (ASX: 1MC) (formerly Altura Mining Limited) an Australian Lithium explorer and developer, and related party. Joint Venture earn-in of a 60% interest by complying with terms including expending $2M of exploration work over the next four years.
October 2021 | Agreement ratified.
October 2022 | Morella Corp. current with obligations under the agreement.
