- Marquee Resources (MQR) set to begin exploration its Clayton Valley lithium project after the work was green-lit by geology experts Kangari Consulting
- The Clayton Valley project spans roughly 12 square kilometres alongside global lithium giant, Albermarle in Nevada’s Esmeralda County
- Executive Chairman Charles Thomas says the company is excited to proceed to the next stage of its plan to explore the famed region
- Marquee is down 3.45 per cent and trades at 14 cents apiece
Marquee Resources (MQR) is set to begin exploration at its Clayton Valley lithium project after the work was green-lit by geology experts Kangari Consulting.
MQR has plans to start a two-phase exploration program with a detailed geological mapping program and drilling to follow.
The project is based roughly three and a half hours away from Tesla’s Gigafactory Number 1, which produces large lithium-ion batteries.
Results from the initial drilling assay confirmed the presence of lithium brine and a lithium hosting horizon further to the west than expected.
In addition, lithium-bearing aquifers were located near the Pure Energy Minerals property boundary which MQR plans to investigate further.
The Clayton Valley project spans roughly 12 square kilometres alongside global lithium giant Albermarle in Nevada’s Esmeralda County.
Executive Chairman Charles Thomas said the company was excited to proceed to the next stage of its plan to explore the famed region.
“The Clayton Valley Lithium project is situated in a well-established location for lithium occurrences and the current buoyant nature of the Lithium market has enabled us to re-visit the potential of this project,” he said.
Mr Thomas said the mine was “situated just kilometres from the only producing lithium mine in North America, Silver Peak, owned by the world’s largest Lithium producer, Albemarle.”
“This is a very important period for the Company and its shareholders and I re-iterate the board’s focus that by the end of the year I expect there will be on-ground exploration being undertaken at four of our future metals Projects across the globe,” he added.
Marquee was down 3.45 per cent and traded at 14 cents per share at 11:38 am AEDT.