Mining Intelligence and News
United States

Zeus Project

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Categories

Overview

Mine TypeOpen Pit
StagePreliminary Economic Assessment
Commodities
  • Lithium
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Zeus Lithium Project is a large-scale surface deposit with minimal overburden, featuring a significant resource and a high-grade core.

Laboratory work in 2023 confirmed a process flowsheet and lab-scale production of high-purity lithium carbonate.

Key upcoming steps include optimizing the mine plan for high-grade extraction, reducing capital costs, and ensuring sustainable water supply.

The project also offers ESG benefits, such as minimal strip ratio, closed-loop water recycling, and dry stack tailings.

The updated resource estimate is being used as the basis for a Preliminary Economic Assessment (PEA) underway in 2024.

Owners

SourceSource
CompanyInterestOwnership
Noram Lithium Corp. 100 % Indirect
The Zeus Project consists of a total of 146 unpatented placer claims and 136 unpatented lode claims. The claims are staked under Green Energy Resources, a wholly owned subsidiary of Noram. The claims are currently 100% owned by Noram Lithium Corporation.

Deposit type

  • Sedimentary

Summary:

The geology of the Clayton Valley area is underlain by basement rocks composed of a thick sequence of Neoproterozoic to Ordovician carbonate and clastic sediments that were deposited along the ancient western passive margin of North America (Albers and Stewart, 1965 & 1972). During the Late Jurassic Period, a series of granitoid magmas intruded the basement sedimentary rocks. In the Tertiary, (Oligocene and Miocene) basin and range faulting was accompanied by volcanic eruptions of intermediate to felsic lavas occurred throughout the region. Thin to thick veneers of Quaternary gravels and alluvium cover much of the landscape today and playa lake deposits occur on the lowest elevation areas of the basins.

The project area hosting the lithium mineralization is composed of Miocene pyroclasic rocks overlain by the Esmeralda Formation, a clay-rich, fresh water (alkaline) lake sediment deposit. The pyroclastic rocks are postulated to be the source of the lithium, and the clay rich units of the Esmeralda Formation currently host the concentrations of potentially minable lithium.

Significant Mineralized Zones
All of the lithium mineralization is hosted within clays hosted by the Esmeralda Formation. The Middle Member is the highest grade and has the best lateral continuity. The distribution of the lithium mineralization is controlled by specific lithic compositions and/or their underlying physical properties. Overall, the mineralized horizon ranges from 50 m to 150 m thick. It strikes along azimuth 40° and dips -4° southeast. The mineralization is laterally continuous within the preferred lithology but does vary in grade perpendicular to the stratigraphy. There are at least three parallel preferred planes of higher-grade mineralization.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

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Processing

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Production

CommodityUnitsAvg. AnnualLOM
Lithium t 31,9411,277,000
All production numbers are expressed as carbonate.

Operational metrics

Metrics
Daily ore mining rate  ....  Subscribe
Daily processing capacity  ....  Subscribe
Annual production capacity  ....  Subscribe
Annual processing capacity  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2021 study.

Production Costs

CommodityUnitsAverage
Cash costs LCE USD  ....  Subscribe
Assumed price LCE USD  ....  Subscribe
* According to 2021 study / presentation.

Operating Costs

CurrencyAverage
OP mining costs ($/t milled) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
Total operating costs ($/t milled) USD  ....  Subscribe
* According to 2021 study.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Required Heavy Mobile Equipment

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Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Dec 8, 2021
....................... Subscription required ....................... Subscription required Subscription required Dec 8, 2021
....................... Subscription required ....................... Subscription required Subscription required Oct 4, 2024

Aerial view:

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