Drilling has commenced at Bonnie Claire.Vancouver, British...

Drilling has commenced at Bonnie Claire.

Vancouver, British Columbia – September 12, 2023 – Nevada Lithium Resources Inc. (CSE: NVLH; OTCQB: NVLHF; FSE: 87K) (“Nevada Lithium” or the “Company”) is pleased to announce that drilling of the 100% owned Bonnie Claire lithium project (the “Project” or “Bonnie Claire”) has commenced. The 2023 drill program is part of the overall work program designed to support a Pre-Feasibility Study (“PFS”), building upon the Company’s NI 43-101 Preliminary Economic Assessment (as defined below) for Bonnie Claire. The PEA (as defined below) indicates a Net Present Value (8%) of $1.5 Billion USD and 23.8% IRR (both after tax) using a $13,400 USD per tonne LCE price¹. Further details on the 2023 Exploration and Development Plan are available on the Company’s news release, dated August 9, 2023.

• Core drilling program designed to follow-up on the successful 2022 program which returned high grade lithium values at Bonnie Claire, including 3,201 ppm Li over 520 ft (158 m) within a wider interval of 1,315 ppm Li over 2,000 ft (610 m) (see the Company’s news release dated December 7, 2022).

• Examine the potential for lithium bearing brines at Bonnie Claire through the extension of select core holes past 2,000 feet (610 meters) to the geological “basement” combined with results from planned seismic surveys.

https://nevadalithium.com/news-2023/nevada-lithium-commences-2023-diamond-drill-program-at-100-owned-bonnie-claire-lithium-project-nevada/