Macarthur Minerals Locates Lithium in Nevada in the Basin Adjacent to Clayton Valley 

 

VANCOUVER, BC - Macarthur Minerals Limited has located lithium near surface in the Lida Valley, Nevada, the basin adjacent to the Clayton Valley, which hosts North America's only producing lithium mine, Albemarle's Silver Peak Lithium Mine. Lithium has been located at the Company's new Stonewall Lithium Project in Southern Nevada, from a shallow auger drilling program conducted as part of due diligence, for acquisition of the Stonewall Project, which is now complete. All nine shallow auger drill holes reported lithium, with grades up to 145.5 parts per million (ppm) lithium (Li) from near surface sediment, confirming that lithium is present in the Lida Valley.

David Taplin, President, CEO and Director of Macarthur Minerals said, ”Finding lithium at surface at the Stonewall Project, in the Lida Valley, the basin adjacent to North America's only producing lithium mine, is potentially significant; not only for Macarthur but it also emphasises the lithium potential of the Lida Valley. Deeper drilling into the basin and the brines is a priority to ascertain if the same lithium brine potential exists in the Lida Valley as has been discovered and extracted in the adjacent Clayton Valley. We have completed acquisition of the Stonewall Project and are excited about moving this project forward."

The Stonewall Project covers an area of approximately 5,460 acres (22.1 square kilometers) and the majority of a playa in Nevada's Lida Valley Basin, the adjacent basin to the Clayton Valley Basin, which hosts the United States' only producing lithium mine.