Caeneus Minerals (ASX:CAD) has completed drilling two holes at its Lida Valley Lithium Brine Project located in the U.S. state of Nevada.
Assays have been gathered and sent to the lab with results expected within three weeks.
The drilling at the Scotty's South Lithium Brine Project has re-commenced following delays from unstable conditions and drilling is expected to take a further two weeks.
Caeneus’ portfolio of lithium projects in the U.S. state of Nevada includes:
- Muddy Mountain (lithium clay);
- Lida Valley (lithium brine);
- Scotty’s South (lithium brine);
- Columbus Marsh (lithium brine); and
- New King (lithium clay).
The drilling equipment from Lida Valley is ready to be moved to the Columbus Marsh Lithium Brine Project to commence the work program there.
The gravity program completed at Columbus Marsh confirms simple and broad gravity suggesting a deep basement with a large amount of sedimentary basin cover with the potential to host lithium brines.
Drilling will test stratigraphy and nature of groundwater with follow up refinement of further drill targets.