Nevada Sunrise Gold Corporation (Nevada Sunrise or the “Company”) recently published its maiden resource estimate for the Gemini Lithium project, based in Lida Valley, Nevada. According to the recently released data, the analysis asserts a hefty measure of 7.1 million tonnes of lithium carbonate equivalent (LCE) on the property. This substantial pronouncement is anticipated to significantly impact the global lithium market.
Gemini Lithium Project is one of the flagship assets of the Nevada Sunrise corporation. Located in Lida Valley, the project shares the same closed basin with Albemarle’s Silver Peak lithium mine, which is the largest and the only functional lithium mining project in North America. The Gemini Project strategically lies within 40 kilometers of the Silver Peak mine, enabling easy accessibility to existing infrastructures.
In line with the latest announcement, the resource estimate was achieved with strict adherence to the guidelines as stipulated by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), and National Instrument (NI) 43-101. The process involved a geophysical survey for reservoir boundary definition, followed by two phases of exploration drilling, spanning nearly a couple of years.
The Company’s comprehensive drilling program comprised 21 reverse circulation (RC) and diamond drill holes. By employing advanced modelling software, a three-dimensional solid model of lithium concentration was constructed, which assisted in determining the total estimated unit volume. Further, a bulk density factor was applied to this volume to generate a total tonnage approximation. These collective endeavors have contributed to the rosy outcome of the maiden resource estimate, confidently affirming 7.1 million tonnes LCE of indicated and inferred resources.
The ability to estimate such a sizeable amount of resources in this resource-intensive industry is a testament to the immense potential of the Gemini Lithium Project. The estimate is likely to underpin future feasibility studies and brings the possibility of a successful mining operation significantly closer to realization.
Moreover, the prospect of developing a large scale, economically viable lithium production operation in Nevada would align the Company with the State’s dominant renewable energy goals. As the move towards electrification picks up momentum globally, the demand for lithium – a critical element in the manufacture of rechargeable batteries for electric vehicles – is expected to surge.
Notably, Nevada Sunrise is also keen on implementing eco-friendly extraction technologies, as traditional methods could potentially affect the water table. As such, in addition to the huge lithium reserve, the Gemini Lithium Project could also serve as a groundbreaking model for other lithium mining companies intending to balance both economic and environmental interests.
In sum, the stunning maiden resource estimate of 7.1 million tonnes LCE on the Gemini Lithium Project signifies a significant milestone for Nevada Sunrise. It enhances the commercial viability of the project, positioning Nevada Sunrise as a potentially key player in the emerging and dynamic lithium market. The ability of the Company to strike a sustainable balance between economic efficiency and environmental responsibility will indeed be keenly watched by stakeholders within and beyond the lithium industry.
