- Loyal Lithium (LLI) gears up for a sonic drilling program at its Scotty lithium project in Nevada, US
- A drilling contractor has been engaged to begin drilling ‘target two’ by March, subject to ground conditions following “significant amounts of rain and snow” over winter
- Drilling will target lithium-bearing sediments one kilometre west of strong lithium-boron drill results recorded at the adjacent Bonnie Claire lithium project
- Since recently acquiring 100 per cent of the project, LLI says a successful drilling program could achieve a maiden lithium resource for the company
- LLI shares are down 5.56 per cent to 34 cents at 11:38 am AEDT
Loyal Lithium (LLI) is gearing up for a sonic drilling program at its Scotty lithium project in Nevada, US.
The company engaged a contractor to begin drilling within ‘target two’ at the project by March.
Soil sampling at this target returned lithium-boron anomalous assay results of up to 448 parts per million (ppm) lithium and 3360 ppm boron.
While all the necessary drilling approvals have been received, this upcoming round of work is dependent on ground conditions, as Loyal Lithium said the property endured “significant” amounts of rain and snow over the winter period.
If the weather permits, drilling will target lithium-bearing sediments one kilometre west of strong lithium-boron drill results recorded at the adjacent Bonnie Claire lithium project at the end of last year by TSXV-listed Iconic Minerals.
Loyal Lithium, having recently secured 100-per-cent ownership of the project, said a successful drilling program could achieve a maiden lithium resource for the company.
Moving forward, the company’s CEO, Adam Ritchie, said securing the project was an important step that gave Loyal Lithium full control of its lithium assets and ensured all incentives were aligned to make the “best” decisions.
“The excitement and potential of Nevada lithium continue to build, and we continue to monitor the progress of our surrounding peers, with respect to approvals, testwork, flowsheet design and partnerships,” Mr Ritchie said.
LLI shares are down 5.56 per cent to 34 cents at 11:38 am AEDT.