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Caeneus Minerals Ltd.
Summary
| Project: | Columbus Marsh | |
|---|---|---|
| Deposit: | Columbus Marsh | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 7/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-7-2018: Caeneus Minerals Ltd. announces an Exploration/Drilling Update report for its Columbus Marsh deposit at the Columbus Marsh project. Drilling results incl. 400m @ avg 566.62ppm Li. The Company is pleased to announce the successful completion of t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Robert Allender (Eagle Global Resources) | |
| ABSTRACT: | The Company is pleased to announce the successful completion of the final assay processing from the initial exploratory drilling program at its Columbus Marsh Project. The completed drilling data has identified a second lithium-enriched brine zone and allowed the Company to develop a full profile of the lithium brines discovered within the shallow aquifers at the Company’s property in Nevada. In September 2017, the Company announced 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 (420.6ppm Li2CO3 equivalent or LCE*) with a minimum assay of the same brine returning 56.3mg/l lithium (258.5ppm LCE*). The brine also assayed up to 3,670mg/l potassium and 1,100mg/l boron, indicating strong potential for economic concentrations of multiple commodities. The brine was confined in the aquifer hosted by 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. (The Columbus Marsh property is situated 40 kilometres northwest of the Clayton Valley lithium brine operations). The Columbus Marsh maximum assay is almost 50% higher in concentration than lithium brines previously processed at Searles Lake, California (65ppm lithium). | |
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