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Scotty Lithium

Nevada, USA

Project Overview

Shallow Mineralisation

With strong mineralisation from near surface and close to the western edge of the basin, Scotty has the potential to adopt a traditional mining solution which supports strong development concepts.

The Scotty Lithium Project covers 78.1 km2 and is located 189 km northwest of Las Vegas and 517 km from Reno in the Tier 1 mining jurisdiction of Nevada USA.

The Scotty Lithium Project has twin prospects of lithium brines and lithium sediments and is adjacent to the existing Iconic Minerals Ltd (TSXV: ICM) Bonnie Claire Project, with similar geology.

The claims are within the Sarcobatus Flat that is approximately 30 km long and 20 km wide, with the associated drainage basin covering an area of 2,070 km2 . Quartz-rich volcanic rocks that contain anomalous amounts of lithium occur within and adjacent to the drainage basin with recent soil samples of up to 540ppm Lithium (Li).

Development Concepts

Traditional Mining Potential

  • Mining Solution: Traditional Truck & Shovel
    • Like Iron Ore and other bulk commodities
  • Mining Parameters: Potentially Low Strip Ratio
    • Mineralisation from near surface
  • Process & Mining Infrastructure: Western Edge
    • Alluvial fan basin edge is ideal for entering the potential pit and housing mining & processing infrastructure

Project Highlights

Scotty Lithium Project

  • Scotty Lithium Project is located within the Tier 1 jurisdiction of Nevada USA and only 330km from Tesla’s Gigafactory and surrounded by multiple lithium projects with $150m-plus market caps.
  • Robust independent Exploration Target of 460 million tonnes (Mt) at 1145ppm to 837Mt at 1175ppm at a 700ppm lithium cut-off-grade, indicating a potentially significant sediment hosted lithium deposit.(1)
  • Soil geochemistry was used effectively in the discovery and delineation of the Iconic Minerals Ltd adjoining Bonnie Claire Lithium Deposit, where Inferred Resources comprise 3.4Bt at 1,013ppm Li for 18.3Mt of LCE1 resource from 9 drill holes, equivalent to a Hard Rock deposit greater than 700Mt @ 1% Li201.
  • The Bonnie Claire Mineral Resource Estimate & Preliminary Economic Assessment suggests a unique geology and subsequent low-cost mining and process solution(2):
  • Bonnie Claire appears to be a new type of deposit that has lithium compounds like lithium carbonate and lithium salts deposited within the fine grain clay, silt, and sand pore space. Although most of the sediment hosted lithium in the literature occurs in clays, it does not at Bonnie Claire.

(1) ASX Announcement: Exploration Target Defined at Scotty Lithium Project, Nevada – 29 September 2023. (2) Bonnie Claire PEA Technical Report

Exploration Target

Large Scale Potential

    • In September 2023, Loyal Lithium announced a robust independent Exploration Target for the Scotty Lithium Project indicating a potentially significant sediment hosted lithium deposit.
    • The creation of a 3D block model and the formulation of the Exploration Target relied on drilling, geophysical, soil data2, and geological interpretations.
    • Scotty has mineralisation from near surface and is close to the western edge of the basin, demonstrating the potential to adopt a traditional mining solution which supports strong development concepts.
    • Scotty Lithium is located 67km by national highway, north of the mining town of Beatty, 220km from Los Vegas and 330km from Tesla’s Nevada Gigafactory with existing all-weather roads and power infrastructure within close proximity.

Exploration Target range of lithium tonnage and grade determined by inverse distance squared grade interpolation and block model using Vulcan Software.

Drill Results With Significant Potential

Successful Drilling Completed

In August 2023, Loyal Lithium announced that drilling assays had confirmed the presence of a mineralised lithium basin at the 100% owned Scotty Lithium Project, with an average grade of 1,120ppm lithium at a 700ppm lithium cut-off-grade and a spectacular peak lithium value of 4,007ppm1

Loyal Lithium’s 2023 sonic drilling campaign consisted of three drill holes averaging 171m, for a total depth of 513 m. The drilling confirmed the consistent depth of the lithium mineralisation between the drill holes (averaging 1.9 km) and consistent nature of the geology in the area. The lithium-bearing units are easily distinguishable from the basement volcanic rocks. The Sonic drill rig performed well, with high-quality samples obtained for assaying.

(1) ASX Announcement: “Lithium Discovery at Scotty Project – 11 August 2023

Exploration Target

Scotty Lithium Project

Although lithium reserves are distributed widely across the country, Nevada is home to the only lithium producers in the U.S. As the global push towards electric vehicles and low-carbon energy intensifies, and with the US government securing a domestic supply chain of critical minerals, exploration in the area surrounding the Scotty Project is increasing.

Nevada is actively encouraging the development of critical mineral resources3, and Loyal Lithium’s Scotty Project is well positioned to benefit from the market cycle, as the world transitions to cleaner, low-carbon energy, with lithium at the forefront of that market.

 

  • As of 1 September 2022 an estimated 17,375 active, filed, and submitted placer claims, have been located in Nevada, presumably for lithium or lithium brine in 18 different hydrographic basins4. This activity all means an incredible ramp up in accessible infrastructure and increased knowledge of the area’s geology.
  • USA’s Inflation Reduction Act Enforces a minimum level of locally sourced raw materials from the domestic market5 as the US looks to secure domestic minerals for a sovereign energy supply.
  • Nevada is seeing a critical minerals’ boom with multiple projects with USD $150M-plus market cap.

(3) Bureau of Land Management: Nevada Mining and Minerals
(4) https://data-ndom.opendata.arcgis.com/pages/lithium-claims
(5) How the Inflation Reduction Act Will Help Small Businesses