The Energy Report
Source: Keith Kohl (4/27/16)
Not prolonged after Nevada Energy Metals stretched a participation in a Clayton Valley, a association announced it combined claims to a San Emidio property. Keith Kohl of Oil Gas Trader explains what this means to investors.
It’s usually been a few days given we schooled that Nevada Energy Metals Inc. (BFF:TSX.V; SSMLF:OTCPk) stretched a participation in a Clayton Valley. Well, we didn’t have to wait really prolonged to hear about a company’s subsequent move.
Nevada Energy Metals announced it has increasing a scrutiny intensity of a San Emidio skill after adding an additional 69 claims to a position. In total, a association now binds 155 claims in a San Emidio Desert, located in Washoe County, Nevada, (roughly 95km northeast of Reno).
Some of we might already commend this lithium plan from before.
The San Emidio Desert dish is an alkali playa sourroundings underlain by unconsolidated sediments and clays being fed by lithium temperament geothermal fluids reported in bounding faults, and/or faults along a easterly side of a basin.
Moreover, this skill adjoins a Empire geothermal energy plant, that provides a estimable feverishness source for a dissemination of duration groundwater, believed to be critical in a arrangement of lithium brine deposits.
According to a new news, a new claims were staked to cover a apportionment of a playa (which is simply an area of flat, dried-up land, generally a dried dish from that H2O evaporate quickly) evaluated by Chevron Oil Company behind in 1976 for a geothermal energy potential.
Here’s what a strange news said:
“Almost a whole deliberate area exhibits clear supernatural responses that have a loyal resistivity reduction than 3 ohm meters. The apparent resistivity information exhibits nearby plane contours via tools of a supernatural area, though there is also sufficient parallel variations with any curiosity to advise that a conductive territory is not due unconditionally to conductive sediments.”
In sequence to validate a participation of brine aquifers, however, a association is going to have to drill.
Things are looking up, too. Previous formula from operators that have explored a playa for lithium have reported lithium value sediments adult to 312 ppm, and adult to 80 ppm lithium in brine from a abyss of 1.5 meters.
The slight pullback given Friday has non-stop adult an appealing shopping opportunity, and Nevada Energy Metals stays a Buy for us during stream prices, with a buy extent of CA$0.30 (or approximately US$0.23).
Keith Kohl is a editor of Oil Gas Trader.
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