The Lida Valley Project encompasses approximately 2,620 acres located in west-central Nevada, within 40km of the Silver Peak Lithium Mine of Albermarle Corporation (NYSE: ALB), the only producing lithium mine located within North America.
The Lida Valley Project, like Silver Peak's Clayton Valley, is a significant regional Intermontane Basin with a drainage area of approximately 150km2, and is considered by Caeneus to be an ideal location for the development of lithium rich brine deposits. About two-thirds of the world's lithium resources are within brines/salts. Capital and mining costs are typically far less in a brine deposit given the lithium can be extracted from a liquid.
Historic exploration at Lida Valley identified gravity and resistivity anomaly(s) consistent with lithium rich brine deposits, including a gravity defined closed basin and conductive brine targets identified by resistivity survey(s). Further ground gravity details significant depth of basin and mapping, indicating both a stratigraphic and structural setting favorable for lithium brine deposits. The Lida Valley Project is now potentially drill ready.