Marquee Resources (ASX:MQR) begins drilling at Kibby Basin

• Marquee Resources (MQR) begins drilling at the highly prospective Kibby Basin lithium project in Nevada, USA
• Drill NV has been engaged to drill around 3000 metres across two stages to target a highly conductive geophysical anomaly
• This anomaly has the signatures of a potential lithium-rich aquifer beneath the dried lakebed at an estimated depth of 800 metres to one kilometre
• The aim of this drilling program is to outline a lithium-enriched brine aquifer deposit in the Kibby Basin that is amenable to mining
• Marquee Resources was up 4.26 per cent with shares trading at 9.8 cents at 11:13 am AEST

Marquee Resources (MQR) has begun drilling at the highly prospective Kibby Basin lithium project in Nevada, USA.

Drilling will be undertaken in two stages with 3000 metres planned to target a highly conductive geophysical anomaly.

This anomaly has the signatures for a potential lithium-rich aquifer beneath the dried lakebed at an estimated depth of 800 metres to one kilometre.

This is the depth at which Albermarle, the owner of the only producing lithium mine in North America in the Clayton Valley, has been successful at extracting lithium brines.

The aim of this drilling program is to outline a lithium-enriched brine aquifer deposit in the Kibby Basin that is amenable to mining.

In March, Marquee announced it had secured the services of Drill NV to undertake an upcoming drilling program.

The Kibby Basin project lies 50 kilometres north of Ioneer’s (INR) flagship Rhyolite Ridge lithium-boron project and around four hours from Tesla’s Gigafactory Number 1.

A previous gravity survey showed the project to be a “drop down” basin which provides a catch basin for lithium-bearing ash and gravels over millions of years.

Kibby Basin is fully permitted for water extraction for the use of brine processing and the production of lithium compounds.

Marquee Resources was up 4.26 per cent with shares trading at 9.8 cents at 11:13 am AEST.