The Discovery Unveiled
Striking gold in the mining world, Nevada Sunrise, with no small degree of pride, revealed the results of their drilling in the Gemini property. A treasure trove in the Lida Valley, the drilling brought to light clays mineralized with lithium, showcasing stellar geological continuity. The inference? An impressive resource estimation for lithium carbonate dwelling within the clays.
Staggering Figures
The numbers are almost fantastical. The drilling unearthed approximately 1.3 million tonnes of lithium, which translates to a whopping 7.1 million tonnes of lithium carbonate equivalent. All this, neatly ensconced within 1.2 billion tonnes of mineralized clay, boasting an average lithium grade of around 1,130 parts per million. And the kicker? A cut-off grade of 400 ppm lithium was selected, underscoring the richness of the find.
A Revelation that Defies Limits
In a coup that defies conventional wisdom, only five holes were drilled, representing a mere 15% of the project area. Yet, against all odds, the open pit resource has defied all expectations, as Warren Stanyer, the CEO of Nevada Sunrise, proudly avers. It remains open in every direction and extends tantalizingly into the depths, like a mine of endless possibilities.
The Next Big Player
Entrenched within a flat, parched basin, the 22.7-sq.-km. Gemini property, much like a hidden gem, sits in the Lida Valley. Sharing a geological setting akin to the illustrious Clayton Valley basin, where Albermarle reigns over the Silver Peak lithium brine mine, Gemini has indeed ascended to prominence. Acquired through claim staking in 2015, with no strings attached in the form of royalties, by Nevada Sunrise, the company currently holds an unencumbered 100% interest in this promising project.
Market Ripples and the Future Outlook
Ripples of excitement in the market were inevitable. The revelation sent shockwaves through the system, causing shares of Nevada Sunrise to surge a staggering 40% by 1:20 p.m. ET. Hailing from Vancouver, the junior mining company boasts a market capitalization of C$7.7 million, a testament to the faith that investors have in this unparalleled find.
