The Clayton Valley in Nevada is home to the only producing lithium brine deposit in North America.
Sienna Resources has exposure to the lithium market through its strategically located property in Clayton Valley, Nevada.
The Clayton Valley happens to be just miles away from Tesla Motors Inc.’s (Nasdaq: TSLA) Gigafactory outside of Reno, Nevada.
The Clayton Valley of Nevada is home to the only lithium brine basin in production in North America.
Albermarle (NYSE:ALB) has been in production in this basin since 1966.
About The Project
Sienna Resource’s “Clayton Valley Deep Basin Lithium Brine Project” is located directly inside of, and completely surrounded by Pure Energy Minerals Ltd’s (PE-TSX.v) property. The “Clayton Valley Deep Basin Lithium Brine Project” is located in parts of the deepest sections (refer to the map) of the only lithium brine basin with a producing operation in North America, Albemarle Corp’s (NYSE: ALB) Silver Peak Mine. Pure Energy Minerals, which owns the Clayton Valley South project, has released an inferred resource of 247,000 tons of lithium carbonate equivalent on the Clayton Valley South project. According to the Pure Energy Minerals Limited website, “Geophysics shows that the same brine-bearing formations encountered during drilling (Pure) appear to extend to much greater depths within the basin.” Pure Energy Minerals Limited had signed a supply agreement with Tesla Motors Inc (Nasdaq: TSLA) to potentially supply lithium hydroxide from its Clayton Valley Lithium Brine Deposit.
On Tesla Battery Day, held on September 22, 2020, Tesla’s Elon Musk announced their intention to acquire Nevada lithium projects and their overwhelming need to secure domestic lithium deposits to feed their Gigafactory.
On March 18, 2021, Pure Energy’s strategic partner Schlumberger New Energy Venture (NYSE: SLB) “announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy. The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. This innovative process can create new market opportunities for lithium extraction and battery manufacturing economy and maximize the value of the lithium-rich resource base in Nevada with cutting-edge extraction technology.
The pilot plant’s deployment is part of the Pure Energy Minerals agreement with Schlumberger New Energy for the development of its Nevada lithium brine property, using advanced technology to process the brine and extract high-purity lithium, maximizing the lithium resource recovery. Commissioning of the pilot plant will begin following receipt of all necessary permits. NeoLith Energy intends to begin operations before the end of 2021.”
When a major company like Schlumberger is advancing the property that completely surrounds Sienna’s, it is clear that lithium in Nevada is gaining attention again.
Jason Gigliotti, President of Sienna Resources states, “The development of this pilot plant is one of the most significant advancements in Clayton Valley lithium to date. Having an energy giant of Schlumberger‘s magnitude moving forward with this pilot plant for lithium is a major development. Sienna has property in the deepest section of the brine deposit (see map) that Pure Energy and Schlumberger have an agreement on. Not only is this great news for the deepest section of the brine formation in this specific region of the Clayton Valley, but both President Biden and Prime Minister Trudeau have recently committed to building an EV supply chain in North America at a time when the price for lithium has increased by more than 100% already in 2021. The Clayton Valley of Nevada is the preeminent lithium address in North America, and we are very excited about how the future of Clayton Valley is playing out especially in light of the new Schlumberger news. Sienna has one of the most strategically located properties in Clayton Valley located in the deepest section of the only brine producing basin in North America. We are very active in Scandinavia and we are constantly watching Clayton Valley as developments progress at a rapid pace. 2021 will be a breakout year for Sienna Resources Inc. and management could not be more optimistic about the coming months for Sienna.”