ULI.V Price: 0.035 Change: -0.005 Volume: 63000 15-20 min delay view details
Ultra Lithium Inc’s South Big Smokey Valley is located in Esmeralda County, Nevada 16 miles north of Clayton Valley.
364 placer claims (7,280 acres)
The project shares a similar geology and weathering history to Clayton Valley. The north end of Clayton Valley hosts Chemetall Foote Corporation’s Silver Peak Mine, the only lithium brine producer in the United States. Mine production comes from a lithium enriched brine located below the surface. The plant has been in production since 1967 and is designed to produce up to 1.2 million kilograms of lithium per annum.
Commencing in the 1970s the United States Geological Survey (“USGS”) carried out a series of regional reconnaissance programs including sampling and drilling in Big Smokey Valley. Gravity surveys over the region also identified various structures that may have created topography favorable for evaporite accumulation and subsequent traps, which potentially could host commercially viable mineral rich brines.
A study by Price, Lechler, Lear and Giles in 2000, suggests that lithium was released into the Clayton Valley basin by the weathering of high-lithium-bearing rocks. Similar lithologies and weathering history exist in the adjacent Big Smokey Valley.