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Caeneus Minerals Ltd.
Summary
| Project: | Columbus Marsh | |
|---|---|---|
| Deposit: | Columbus Marsh | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 9/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-9-2017: Caeneus Minerals Ltd. announces an Exploration/Drilling Update report for its Columbus Marsh deposit at the Columbus Marsh project. Drilling results incl. 24.38m @ 95.9mg/l Li (max) from 103.63m. The Company is pleased to announce the discovery | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Steven Elliot (Internal) | |
| ABSTRACT: | The Company is pleased to announce the discovery of highly anomalous concentrations of lithium brines within a shallow aquifer at the Columbus Marsh Project. Lithium bearing brines were intersected at a depth of 79.25 meters (260 feet) and continued to a depth of 103.63 meters (340 feet) resulting in a width of the aquifer of 24.38 meters (80 feet). Assay of the brine returned a high of 95.9 mg/l lithium (95.9ppm Li or 510.5ppm LiCO3 equivalent*) with a minimum assay of the same brine returning 56.3mg/l lithium (56.3ppm Li or 299.7ppm LiCO3 equivalent*). The brine also assayed up to 3,670mg/l potassium and 1,100mg/l boron, indicating strong potential for other revenue generating commodities to accompany the lithium. The brine was confined in the aquifer in a sequence of clay, salt and tuff. It is expected that the tuff would be relatively permeable, similar to the lithium producing tuff aquifer at the Clayton Valley operations. Indeed, it is possible that the tuff layer is the same tuff that produces lithium at Clayton Valley. (The Columbus Marsh property is situated 40 kilometers northwest of the Clayton Valley lithium brine operations). Furthermore, the Columbus Marsh maximum assay is almost 50% higher in concentration than the lithium brines which were previously processed at Searles Lake, California (65ppm lithium). The exploratory drill hole was drilled near the centre of the Companyís leases which cover an area of 3,280 acres (1,327.37 hectares), indicating a potentially considerable volume of lithium rich brine. Drill progress is ongoing, having been tempered by wet and unfavourable weather conditions at the beginning of the drill program. The planned target depth for the current hole is approximately 400m, with further lithium bearing intervals still possible. | |
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