Overview
Auroch has recently acquired 80% interest in the Nevada Lithium Project (NLP) in USA from the shareholders of Nevada Australia who will retain the remaining 20% interest.
The Nevada Lithium Project consists of four key prospects, Traction, San Antone, Heller and Lone Mountain Prospect, comprising of 65km2 of ground that is considered highly prospective for larger sedimentary-hosted lithium deposits.
The region is home to several large sedimentary-hosted lithium deposits including Ioneer Resources’ (ASX:INR) Rhyolite Ridge and American Lithium Corporation’s (TSX.V: LI) (US OTC: LIACF) (Frankfurt: 5LA1) TLC Lithium Project. Albemarle Corporation’s (NYSE:ALB) Silver Peak Lithium Mine, currently the only producing lithium mine in North America, lies approximately 45 km to the west of the NLP.
To date there has been limited lithium focused exploration, despite covering the same mineralisation formation that hosts other large lithium deposits in the region. Additionally, the NLP is located within close proximity to the Tesla Gigafactory and has access to or US ports on the West Coast providing clear down-stream processing path for any significant lithium mineralisation that is encountered.
Geology and Mineralisation
Each of the four prospects cover large areas of mapped Siebert Formation, a lacustrine sedimentary rock unit that has formed in and around calderas (depressions formed by historic volcanic eruptions).
Lithium mineralisation is believed to occur as a result of the lithium-enriched brines or fluids that were directly related to the volcanic activity of the caldera. The lithium brines were absorbed by flat-lying ash-rich caldera lake sediments such as the Siebert Formation. Normal faulting then took place, lifting the Siebert Formation up above the water table, which effectively removed the brine, leaving behind the lithium-enriched clay layers.
Recent Exploration
The effectiveness of surface sampling exploration techniques for such deposits is limited due to the fact that the lithium-enriched horizons are typically flat-lying layers tens of metres below the surface. Despite this, first pass soil samples at the NLP have delineated anomalous lithium up to 590ppm Li at surface at the Traction and Lone Mountain Prospects, whilst historical water bores drilled in and around the NLP areas have logged a similar sedimentary host rock formation over 73m thick. The areas of anomalous lithium at surface and thick horizons of the target host rock have significant potential for large-scale lithium mineralisation and will be the focus of the initial exploration and drill programmes in the coming months.
Planned Exploration
Auroch plans to methodically explore the four prospects beginning with a site visit in July. The Company is also applying for work permits and a 2000m RC Drill programme has been planned for late Q3.
