Reedy Lagoon to commence lithium brine drilling

By Justin Ware. Published at Apr 16, 2018, in Small Caps

Reedy Lagoon (ASX:RLC) has today informed the market that it will begin drilling for lithium brine at its wholly owned Big Smoky South project.

The announcement comes in the wake of RLC achieving the target depth for its drill hole at Columbus Salt Marsh. The Big Smoky South project is located in Clayton Valley, Nevada, near North America’s only producing lithium brine operation.

The drill rig at the hole recently completed on the Company’s Columbus Salt Marsh project is expected to move off that site over the next few days, and will be mobilised at Big Smoky South immediately to drill hole MBD-01 (below).

The drill program at Big Smoky South will investigate a highly conductive zone extending from 600 metres to more than 850 meters below surface shown on the MT Survey profile below.

Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.

The program includes hydrological testing to establish aquifer and brine extraction parameters, as well as brine composition analysis. Further reporting of results from the drilling will be released with expected progress as follows:

  • Drill and core sample to 850 metres depth –estimate 4 to 5 weeks
  • Sample and pump test selected aquifers –estimate one week
  • Assays from core samples can be expected 4 weeks from sample delivery
  • Assays from brine samples can be expected 4 weeks from sample delivery
  • Metallurgical studies on the brine samples will be considered in the event that sufficient brine volumes, flow rates and compositions indicate potential for commercial development.

The Big Smoky South Lithium Brine Project is located 5 kilometres from the Silver Peak evaporation ponds and is one of three lithium brine projects located in Nevada, USA all of which are owned 100% by Reedy Lagoon.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

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