LONDON, May 3, 2016 /PRNewswire/ --
As prices soar and the lithium space becomes a frantic game to secure future supply to feed the lithium-dependent energy revolution, a new entrant is betting that Nevada has much more to offer beyond the obvious Clayton Valley basin.
While the lithium boom unfolds in Nevada--the only state with brine-based lithium resources in production--Nevada Energy Metals (TSX-V:BFF) is scooping up acreage, eyeing a boom to rival that of US shale.
"The lithium business is not a flash in the pan; it is here to stay, and I am looking at it like the start of the oil boom in the U.S. when there were oil derricks up to every 50 feet," industry veteran Malcolm Bell, Nevada Energy Metals' (OTC Pink: SSMLF; Frankfurt: A2AFBV) advisory board member, told Oilprice.com.
The company is setting itself up as a project generator and incubator of lithium resources, casting a much wider net over future lithium resources and building a diversified portfolio that reduces risk.
Geology has everything to do with it, and the geothermal footprints are large.
"There are enough locations that have geological similarities to Clayton Valley in other parts of Nevada State," Bell says.
Nevada Energy Metals has four properties: Clayton Valley BFF-1, Alkali Lake, San Emidio, and Teels Marsh West. Its Clayton Valley project abuts Albermarle's Silver Peak Mine-the only producing mine in America, right in Tesla's gigafactory backyard.
Its Alkali Lake earn-in agreement with Dajin Resources Corp. is one of the big trump cards, and Nevada Energy is fully funded to tap into this.
At Teels Marsh West, about 48 miles from Clayton Valley, the company has staked 100 pacer claims covering 2,000 acres-all 100% fully owned, with no royalties.
It's also just expanded its portfolio in the San Emidio Desert, adding 69 claims to its land position, which now boasts 155 claims.
This isn't a one-trick pony-it's a unique junior exploration company with a number of diverse exploration targets to reduce investor risk. And it's got the management experience to see its lithium incubation plans through.
Many believe Nevada is over-flowing with lithium-and this new entrant is positioning itself for a large share of our future's "white petroleum" market.
By. James Burgess of Oilprice.com
SOURCE Nevada Energy Metals Inc.