POWR Lithium Corp. (CSE:POWR) has recently shared updates on its Halo Project near Tonopah, Nevada. The project, comprising 98 mineral claims in Esmeralda and Nye counties, is being explored for its potential in claystone-hosted lithium mineralization. This comes amidst a growing interest in lithium exploration in the region, spurred by positive developments in adjacent properties.
Patrick Morris, CEO of POWR Lithium, commented in a press release: “We are pleased to have completed the Phase 1 drilling program with four holes traversing the claystone sequence suspected to host important Li values both to the north and west. I applaud the efforts of both Falcon Drilling and our field team to complete this maiden program during the 2023 field program and am anxious to receive the analytical results from our laboratory.”
The drilling operations at Halo were conducted by Falcon Drilling, based in Carson City, Nevada. Falcon’s equipment, known for its versatility and mobility, is both designed and manufactured by the company and has been used in various projects worldwide. This equipment allows for flexible site adjustments and targeting based on initial results and consultations between the project supervisor and POWR’s exploration team.
The drilling at Halo began on October 31 and concluded on November 13. The holes drilled varied in depth from 153.6 meters to 245.4 meters, penetrating through layers of claystone and siltstone. POWR’s technical team managed the logging, cutting, and sampling processes at their facility in Tonopah, Nevada. In total, 490 samples were collected and sent to American Assay Laboratories in Sparks, Nevada, for analysis. The initial findings from these samples are expected to be released soon.
Adjacent to the Halo Project, two other significant developments have been noted. To the north, American Lithium, with a market capitalization of US$246 million, released a positive preliminary economic assessment for its TLC Project. This assessment includes an after-tax net present value of US$3.26 billion and an internal rate of return of 27.5%. Meanwhile, to the southwest, American Battery Technology, valued at US$190 million, has confirmed the presence of lithium at depths exceeding 1,400 feet (430 meters). These developments are closely monitored by POWR Lithium, indicating a heightened interest in the region’s lithium potential.
POWR Lithium focuses on advancing North American lithium deposits. Besides the Halo Project, the company also holds interests in the Eli properties in Nevada. Furthermore, POWR Lithium is working on developing claystone extraction and processing technologies to enhance efficiency and sustainability in the lithium value chain. More information about the company and its projects can be found on its website.
Highlights from the results are as follows:
- Recent two-million-dollar ($2M) financing provides year-end impetus and launchpad for 2024.
- Company completed 884 meters in 4 HQ core holes across the project area.
- Adjoining property activities, results, and investments provide encouragement.