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Caeneus Minerals Ltd.
Summary
| Project: | Lida Valley | |
|---|---|---|
| Deposit: | Lida Valley | |
| Location: | United States | |
| Commodities: | Lithium | |
| Date: | 8/21/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-8-2017: Caeneus Minerals Ltd. announces an Exploration/Drilling Update report for its Lida Valley deposit at the Lida Valley project. Drillhole water sample assays contained no significant lithium values. Caeneus Minerals Limited (ASX: ìCADî or ìthe Co | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Steven Elliot (Internal) | |
| ABSTRACT: | Caeneus Minerals Limited (ASX: ìCADî or ìthe Companyî) provides the following exploration update on its 100% owned Lithium Brine Projects in Nevada, USA. Two drill holes (LV-2 & LV-4 refer figure 1 below) were completed at the Lida Valley Project as part of the Phase One Drilling Campaign. The drilling targeted sediments of a basin defined by ground gravimetric data and inferred from resistivity data to host lithium rich brines. A total of thirty six samples of intersected waters were submitted for analysis to Wetlab Laboratory in Sparks, Nevada. Assays have now been received with the waters encountered determined to be largely potable and assays returning maximum dissolved solids of 1,360mg/l (ppm). Prospective brines traditionally contain brines with total dissolved solids in excess of 20,000mg/l. The samples did not display economic quantities of lithium with results below the detection limit of 20mg/l (ppm). The Company speculates that the resistivity anomalies detected from the surface may be due to volcanic tuff beds but the exact characteristics remain unknown. The Company will conduct a review and notify the market should any further work commence at the Lida Valley Project. | |
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