Salt Wells Projects

Overview

The Salt Wells Borate and Lithium Projects are located in Churchill County, Nevada, USA. The Projects are within short proximity to major highways and within 25 kilometres of the town of Fallon that has a population of over 8,500 people.

The Projects cover an area of 36km2 with surface salt samples in the Northern area recording up to 810 ppm Lithium and over 1% Boron (over 5.2% boric acid equivalent).
The Projects lie in what is believed to be an internally drained, fault bounded basin that appears similar to Clayton Valley, Nevada, where lithium is currently produced by Albemarle Corporation, the only current production source of lithium in the USA.

The basin covers an area of around 110km2. Borates were produced from surface salts in the 1800’s from the Salt Wells North site. With the exception of recent surface salt sampling from the Salt Wells North project, no modern exploration has been completed. The Projects are prospective for borates and lithium in the sediments (salt horizon) and lithium and boron brines within the structures of the basin.

In April 2018 assays results were received from surface salt samples conducted one month previously demonstrating elevated levels of lithium and borates. The highest recorded lithium reading was 810ppm with several other readings above 500ppm recorded over a wide area.

Figure 1. Salt Wells Project Location Map.

Figure 2. Salt Wells Projects Nevada, USA.

Figure 3. Evidence of previous borate production at Salt Wells North.

Figure 4. Lithium assay results in ppm from March 2018 geochemical sampling.

Figure 5. Borate assay results in ppm from March 2018 geochemical sampling.

Borate application

Ceramic glazes

Competent Person Statement

This information is based on information prepared by Richard Kern, Certified Professional Geologist (#11494). Richard Kern is a licensed Professional Geoscientist registered with AIPG (American Institute of Professional Geologists) in the United States. AIPGis a Joint Ore Reserves Committee (JORC) Code ‘Recognized Professional Organisation’ (RPO). An RPO is an accredited organisation to which the Competent Person (CP) under JORC Code Reporting Standards must belong in order to report Exploration Results, Mineral Resources, or Ore Reserves through the ASX.

Richard Kern has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a CP as defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

See Full ASX Release dated 9 October 2018 .