New King Lithium Clay Project comprises an area of approximately 250 contiguous placer mineral claim blocks totaling approximately 5,000 acres within Humboldt County, Nevada, approximately 100 km north-northwest of Winnemucca and 35 km west-northwest of Orovada, Nevada in the western and southern sections of the McDermitt caldera.
The Project claims are situated on the immediate western and southern extensions of and in a similar geological setting to Lithium Americas Corp’s (TSX: LAC) Lithium Nevada (formerly Kings Valley) Project.
The Lithium Nevada Project contains one of the largest undeveloped lithium deposits in North America (Source: Lithium Americas Corp: Roskill Information Services, 12th Edition, 2013) with a 43-101 Compliant Mineral Resource of over 300 million tonnes (Measured & Indicated) at greater than 0.284% Lithium or greater than 1.5% lithium carbonate equivalent across two lenses of mineralisation. (Source: SRK Independent Technical Report for the Lithium Nevada Property, Nevada, USA, June 2016).
New King areas directly abut the Lithium Americas Lithium Nevada Project with their mineral claims lying immediately to both the east and north of the New King. The Project is located less than 10km from the Lithium Nevada Project Stage One and Stage Two lenses, which are the host for the resources outlined above.
Critically, New King areas lie outside the US Federal Bureau of Land Management’s (BLM’s) sage-grouse habitat areas and also the nearby agricultural farmlands and ranches which limit the development of mining activities in the area to a narrow area of focus.
New King is also of strategic relevance to the Tesla Gigafactory, located approximately 350km by sealed highway to the south west. Tesla and their partners are committed to $4-5 billion of investment in the Gigafactory until 2020