Not long after Nevada Energy Metals expanded its presence in the Clayton Valley, the company announced it added claims to its San Emidio property. Keith Kohl of Oil & Gas Trader explains what this means to investors.
It’s only been a few days since we learned that Nevada Energy Metals Inc. (BFF:TSX.V; SSMLF:OTCPk) expanded its presence in the Clayton Valley. Well, we didn’t have to wait very long to hear about the company’s next move.
Nevada Energy Metals announced it has increased the exploration potential of the San Emidio property after adding an additional 69 claims to its position. In total, the company now holds 155 claims in the San Emidio Desert, located in Washoe County, Nevada, (roughly 95km northeast of Reno).
Some of you may already recognize this lithium project from before.
The San Emidio Desert basin is an alkali playa environment underlain by unconsolidated sediments and clays being fed by lithium bearing geothermal fluids reported in bounding faults, and/or faults along the east side of the basin.
Moreover, this property adjoins the Empire geothermal power plant, which provides a substantial heat source for the circulation of meteoric groundwater, believed to be important in the formation of lithium brine deposits.
According to the recent news, the new claims were staked to cover a portion of the playa (which is simply an area of flat, dried-up land, especially a desert basin from which water evaporate quickly) evaluated by Chevron Oil Company back in 1976 for its geothermal power potential.
Here’s what the original report said:
“Almost the entire survey area exhibits definite anomalous responses which have a true resistivity less than three ohm meters. The apparent resistivity data exhibits near horizontal contours throughout parts of the anomalous area, but there is also sufficient lateral variations with each anomaly to suggest that the conductive zone is not …read more