Shares in Enertopia Corp (CSE:TOP) raced up over 9% in Toronto as it revealed it has acquired claims in the lithium hotspot - Clayton Valley, Nevada.
Last month, various outcrops were investigated and 16 samples were bagged up and delivered to a lab in Reno for analysis.
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Significantly, work there, showed the high solubility of the contained lithium, meaning it should be possible to create a brine suitable for extracting lithium using partner Genesis Water Technologies patent pending extraction technology.
"The company is extremely pleased with this project as it exceeds all the internal parameters that the company had set out to achieve (high lithium values at surface, excellent road and access to power)," said president of Enertopia, Robert McAllister.
Enertopia said that further sampling was planned, including collecting bulk samples, which will be used for internal leach tests, while a more detailed outcrop mapping and surface sampling program will be conducted shortly to identify future hole locations.
Notably, recent diamond drilling (DD) in 2017 just a few hundred feet west of the claims returned 1,014 parts per million (ppm) lithium over 281 feet from a depth of 27 feet to 308 feet.
Another third party north east of the Enertopia claims has completed a shallow 46 hole program that resulted in similar lithium grades as the deeper diamond drill hole to the west.
Enertopia shares added0.09% to C$0.06 each.