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    Auroch completes acquisition of ‘strategic’ Nevada Lithium Project

    Auroch Minerals (ASX: AOU) reports that it has completed the acquisition of an 80% interest in the Nevada Lithium Project (NLP) in the United States.

    The NLP consists of four prospective areas that cover the same geology that is host to other major lithium deposits within the region, including American Lithium Corporation’s (TSX.V: LI) TLC Lithium Project.

    The project is also strategically located around 340km southeast of the Tesla Gigafactory near Reno, and is also in proximity to major Californian ports.

    Speaking on the acquisition, Auroch Managing Director Aidan Platel said: “We are extremely pleased to have completed the 80% acquisition of the Nevada Lithium Project in such a short amount of time. The NLP covers the same geological formation that hosts very large lithium deposits in the region, including the TLC Lithium Project nearby, and so we are very excited by the potential of the NLP to host significant lithium mineralisation in a stable pro-mining jurisdiction in Nevada, USA. We look forward to getting on the ground next month and commencing the initial drill programme as soon as possible!”

    The NLP covers the same geological formation that hosts very large lithium deposits in the region”

    Executive Chairman Mike Edwards added: “This is an exciting time for the company. The completion of the 80% interest in the Nevada Lithium Project is a critical and defining next step for Auroch. The aim of this new strategy and direction is to extract maximum value for our shareholders from both the nickel and non-nickel assets in the Auroch portfolio. The company is well funded, and the team is looking forward to commencing exploration in Nevada as well as continuing work on our advanced Western Australia nickel assets.”

    The company notes that surface soil sampling at the project has returned grades of up to 590ppm Li from the Traction and Lone Mountain Prospects, providing further evidence that these areas contain ‘significant’ potential for large-scale lithium mineralisation.

    In addition, the NLP has undergone very limited lithium-focused exploration to date, despite covering the same lacustrine sedimentary formation that is host to various other large lithium deposits in the area.

    Map displaying the location of the Nevada Lithium Project with its four key prospective areas
    Map displaying the location of the Nevada Lithium Project with its four key prospective areas

    The NLP is located in the state of Nevada in the United States and comprises approximately 65km² across four prospective areas (Traction, San Antone, Heller and Lone Mountain).

    These areas are reported to cover large areas of mapped Siebert Formation with mineralisation believed to occur as a result of lithium-enriched brines or fluids being related to the volcanic activity of the Caldera.

    With the acquisition of the NLP now complete, Auroch reports that it will move forward with work programs including a site visit in July and an initial drill campaign that is scheduled for the coming quarter.

    Images: Auroch Minerals Limited
    Adam Drought
    Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.

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    • Delayed Prices (USD) - Last Updated 09-08-2022
    • Gold $1,789.20
    • Silver $20.65
    • Platinum $940.00
    • Palladium $2,162.00
    • Dalian Iron Ore i2301 $110.28
    • Aluminium $2,416.00
    • Cobalt $50,460.00
    • Copper $7,870.50
    • Lead $2,070.00
    • Nickel $22,216.00
    • Tin $24,455.00
    • Zinc $3,488.50