VANCOUVER, British Columbia, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Nevada Lithium Resources Inc. (CSE: NVLH; OTCQB: NVLHF; FSE: 87K) (“Nevada Lithium” or the “Company”) is pleased to provide the core assay results for its second diamond drill hole from the 2023 drill program at its 100% owned Bonnie Claire lithium project (the “Project” or “Bonnie Claire”), located in Nye County, Nevada. BC2303C was drilled to 2,500 feet (762 m) and ended in high-grade lithium mineralization. The 680 ft (207 m) intercept is the thickest +4,000 ppm lithium zone drilled to date.

Nevada Lithium’s CEO, Stephen Rentschler, comments: “The results from BC2303C are tremendous. We have confirmed a +3,000 ppm, and now +4,000 ppm, high-grade mineralized zone that appears to increase in thickness as we move to the east, and the mineralized zone remains open in several directions. BC2303C is a step out of 1,510 ft (460 m) northeast from our previous hole (BC2301C) and is over 1540 feet (470 m) east from hole BC2201C, where the +3,000-ppm mineralized zone was first encountered.”

He continued, “The five holes that have pierced this +3,000-ppm mineralized zone are contained within the PFS resource upgrade area. However, much of this high-grade zone extends beyond the limits of the current resource. The potential for positive impact on the PFS indicates that re-analysis of the 2024 workplan is required to maximize the benefit of this latest set of assays. The Project’s PFS resource upgrade drilling locations and depths, previously adjusted to accommodate the discovery of high-grade mineralization, may need to be adjusted once again. It appears that Bonnie Claire has yet to reveal her best to us, and we believe that this world class asset continues to increase in value.”

Join Stephen Rentschler, CEO of Nevada Lithium for a LIVE virtual event 
Learn more about the significance of assay results from Bonnie Claire’s latest core hole and to ask questions during the interactive Q&A.

Date and time: Wednesday, February 28th at 12 pm ET / 9 am PT
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Highlights:

• Deeper drilling continues to find higher grade mineralization. The lower mineralized zone averages 2,575 ppm Li over 1440 ft (439 m) at (1060 to 2500 ft / 323 to 762m), including a subinterval of 680 ft (207m) at 4,154 ppm Li (1820 to 2500 ft / 555 to 762m). BC2303C is the first hole to contain over 100 continuous feet (30 meters) averaging over 5,000 ppm lithium.
  
• Hole BC2303C was a 1,510 ft (460m) step out and confirms the deep mineralization discovered by BC-2301C, which remains open in several directions. Five holes have now intersected strata with +3,000 ppm mineralization varying from 60 feet (18 meters) in BC2202C, the furthest west intercept, to 1,340 feet (354 meters) in BC2303C, the furthest east intercept. It is thought that the lateral extent of this +3,000 ppm mineralized zone will be expanded with further drilling.
  
• The upper mineralized zone averages 967 ppm over 420 ft (128 m) from 20 ft (6 m) depth. Work is continuing to evaluate the potential for open-pit mining at the upper mineralized zone at Bonnie Claire. Concurrently, work on the Pre-Feasibility Study will incorporate the most up to date work on the proposed bore-hole mining method.
  

BC2303C’s 680 ft (207 m) of 4154 ppm lithium is the thickest intercept yet above 4,000 ppm lithium and may indicate higher grades to the north and east. The highest assay in BC2303C is 5840 ppm lithium from 2440 ft (744 m) to 2460 ft (750 m).

In the upper mineralized zone, assays include 1282 ppm Li over 240 ft (73 m) within a broader interval of 967 ppm Li over 420 ft (128 m) from 20 ft (6 m) depth.

Sample assays are announced herein for Hole BC2303C with results presented in Table 1

Table 1: Core assay¹ summary for drill hole BC2303C

*Results presented in feet (ft).

** Results presented in meters(m).
¹Intervals presented are core length