Aspiring lithium brines developer Reedy Lagoon is about to commence another diamond drill hole at its second Nevada lithium brines project in the USA.
The new hole is to be drilled at the company’s Big Smoky South project just days after a similar hole was completed to 1000m at the Columbus Salt Marsh project 30km to the north west of Big Smokey.
Results from the first hole drilled into a strong looking conductor at Columbus Salt Marsh are expected to come out in about a fortnight and will no doubt be eagerly anticipated by the market.
The Columbus Salt Marsh and Big Smokey South projects are located in the highly prospective Clayton Valley in Nevada.
Big Smokey is only 5km northwest of North America’s only producing lithium brine operation, the Silver Peak mine, owned by NYSE-listed industrial chemical heavyweight Albemarle Corporation.
Albemarle’s mine produces about 3,500 tonnes of lithium annually from brines and will ramp up to 6,000 tonnes per annum in line with insatiable global demand for the product.
Lithium Carbonate product is fetching about US$20,000 per tonne at the moment and the rush is on to extract raw commodities for use in the rapidly expanding battery metals market....
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