Caeneus Minerals Ltd General Meeting.

7 April 2020 10:30AM Perth time, GMT+8

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Muddy Mountain Project

The Muddy Mountain Project

The Muddy Mountain Project encompasses approximately 2,542 acres located in southeast Nevada, about 50km northeast of Las Vegas.

The Muddy Mountain Project is a potential high impact ‘district-scale’ lithium clay project. Lithium clay deposits (hectorites) display potentially cheaper operating costs compared to other hard rock projects such as pegmatites. Lithium clays are generally amenable to simple open-pit mining methods.

The several kilometre trend within the Muddy Mountain Property represents a world class exploration target, with strongly anomalous lithium and boron (up to 1,000ppm Li) encountered from previous sampling. 

An analogy to the Muddy Mountain Project may include the nearby Kings Valley Project of Western Lithium Corporation (TSX: WLC) - 27 Mt @ 3,950 ppm Li); and the Sonora Lithium Project of Bacanora Minerals Ltd (TSX-V:BCN - 60 Mt @ 3,000 ppm Li). 

The association of boron at the Muddy Mountain Project also suggests potential similarities to the world class Jadar Project, Serbia of Rio Tinto Group (125.3 Mt @ 1.8% LiO2, 12.9% B2O3).

Both projects are located within close proximity to the US$5 Billion Tesla Motors Inc Gigafactory, which is currently under construction and proposed to go into large scale production of lithium-ion battery cells in 2017, as well as Faraday Future Corporations' Electric Car Plant, north of Las Vegas, with the US$1 Billion first stage currently awaiting final approvals. Tesla has previously indicated they intend to source their raw material requirements (potentially including lithium, cobalt and graphite) exclusively from North America.

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Caeneus Minerals Ltd

Caeneus Minerals Ltd
Ground Floor
168 Stirling Hwy
Nedlands WA 6014