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Caeneus Minerals moves rig to new lithium brine project

Assays are pending from two holes drilled at the Lida Valley Lithium Brine Project.
Drilling is now being prepared for at the Columbus Marsh project

Caeneus Minerals (ASX:CAD) has moved its drill rig from its Scotty’s South Lithium Brine to Columbus Marsh Lithium Brine Project both located in the U.S. state of Nevada.

The company is highly encouraged by the potential at Columbus Marsh, and notes the significance of the local epithermal systems.

Given the soft ground conditions, extensive preparation is taking place at Columbus Marsh to ensure the surface is better prepared to complete the Phase One drilling program.

The Phase One drilling program at the Scotty’s South has been terminated due to difficulties drilling the soft and collapsing ground.

Consequently, Scotty’s South has been placed on hold pending an analysis of alternative measures.

Nevada lithium project portfolio

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).

Lida Valley was the first project to be drilled, which was recently completed with samples having been despatched for analysis.

These assay results will be released as soon they become available.

Hunting nickel in Western Australia

Caeneus also continues to advance exploration targeting nickel in Pilbara region of Western Australia

At the Pardoo Nickel Project in Western Australia, Caeneus remains confident that the presence of the Highway deposit indicates the nearby presence of more substantial, higher grade mineralisation.

The Highway deposit measures 44.7 million tonnes at 0.3% nickel and 0.13% copper.

The initial low-grade Highway nickel-copper deposit was revealed by airborne geophysics and it was believed that other mineralisation might be similarly located.

Following the reinterpretation of existing geophysical and drilling surveys, 16 drill targets have recently been identified, eight of which are considered priority-one targets.

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Caeneus Minerals Ltd Timeline

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