Marquee Resources Limited (“Marquee” or “The Company”) (ASX:MQR) is pleased to announce the highly encouraging results from a recently completed ground gravity survey at the Clayton Valley Lithium Project, Nevada, USA.


Highlights

  • Recently acquired gravity data identifies a highly prospective channel for brine and clay hosted lithium, east of the Clayton Valley.
  • Clayton Valley Lithium Project (“Clayton Valley” or “The Project”) covers approximately ~12sqkm of claims in an area endowed with both lithium-rich brines and clays. The Project is located within the southern portion of the Clayton Valley Basin, proximal to the Silver Peak lithium mine which is the only producing lithium mine in North America - owned by the world’s largest lithium producer, Albemarle.
  • The Project is approximately 3.5 hours from Tesla’s Gigafactory Number 1, a large lithium-ion battery factory, and adjacent to Pure Energy Minerals (TSXV:PE) current mineral resource.
  • Clayton Valley drilling is planned to test high-priority targets in Q3-2022. Whilst the highly prospective Kibby Basin Lithium Project (located 10km east of ASX-listed Ioneer Ltd (ASX: INR) flagship Rhyolite Ridge Lithium-Boron Project) commenced drilling last week.

Results from the gravity survey identify a northeast trending channel on the eastern edge of the Clayton Valley that is interpreted to be prospective for brine and clay hosted lithium (Figure 1).

The Company completed an initial drill program (refer ASX release 26 November 2017) that confirmed the presence of lithium brine and a lithium hosting horizon on the Western side of the property. These results, coupled with the gravity results presented in this release, has proven that the lithium potential extends further east than previously considered.

The project is approximately 3.5 hours from Tesla’s Gigafactory Number 1, a large lithium-ion battery factory that sits on a gravity high interpreted to represent a graben (uplifted basin sediments), associated with normal faulting adjacent to Pure Energy Minerals (TSXV:PE) current mineral resource.

Drilling on these highly prospective Clayton Valley targets is planned to be completed in Q3-2022 and will test the high-priority targets generated from the gravity survey.