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Location: 30 km NW from Goldfield, Nevada, United States
1111 West Georgia Street, Suite 1400VancouverBritish Columbia, CanadaV6E 3M3
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Its primary project is the Clayton Valley Lithium Brine Project (the “CV Project”), located in Clayton Valley, Esmeralda County, Nevada. The Pure Energy entered into an Earn-In Agreement (the "Agreement") with Schlumberger Technology Corporation, a subsidiary of Schlumberger Limited ("SLB"), dated May 1, 2019 whereby the Pure Energy has granted SLB an option in favour of SLB to acquire all of the Pure Energy’s interests in the CV Project (the “Option”). Upon exercise of the Option, the Pure Energy will be entitled to receive a 3% net smelter return royalty (“NSR”) on minerals produced at the CV Project and an advance minimum royalty payment of US$400,000 annually, payable in monthly installments, commencing January 1, 2021 for a period of five years or until the CV Project achieves commercial production.
Clayton Valley is located within the Basin and Range Province in southern Nevada. It is a closed basin that is fault-bounded on the north by the Weepah Hills, the east by Clayton Ridge, the south by the Palmetto Mountains and the west by the Silver Peak Range and Mineral Ridge. This area has been the focus of several tectonic and structural investigations because of its position relative to Walker Lane, the Mina Deflection and the Eastern California Shear Zone (McGuire, 2012; Burris, 2013). The basement rock of Clayton Valley consists of late Neoproterozoic to Ordovician carbonate and clastic rocks that were deposited along the ancient western passive margin of North America. During late Paleozoic and Mesozoic orogenies, the region was shortened and subjected to low-grade metamorphism (Oldow et al., 1989; Oldow et al., 2009), and granitoids were emplaced at ca. 155 and 85 million years ago (Ma). Extension commenced at ca. 16 Ma and has continued to the present, with changes in structural style as documented in the Silver Peak-Lone Mountain Extensional Complex (Oldow et al., 2009; Burris, 2013). A metamorphic core complex just west of Clayton Valley was exhumed from mid-crustal depths during Neogene extension. There is a Quaternary cinder cone and associated basaltic lava flows in the northwest part of the basin. The basin is bounded to the east by a steep normal fault system toward which basin strata thicken. The north and east parts of Clayton Valley are flanked with Miocene to Pliocene sediments containing multiple primary and reworked volcanic ash deposits within finegrained clay and silt units. These deposits are a part of the Esmeralda Formation. The Esmeralda Formation is a sedimentary sequence grading from coal bearing siltstones, sandstones and conglomerates at the base to fine-grained, tuffaceous lacustrine sediments at the top of the section.The deposit type for the Project is a continental, mineral-enriched brine aquifer within a hydrographically closed basin (endorheic basin). The principal mineral resource is lithium and is a dissolved product in a predominately sodium chloride brine. The brine is hyper-saline groundwater that saturates the pore spaces and fracture-apertures of basin-fill deposits (brine aquifer) that have accumulated over time in the basin. Dissolved minerals in the brine, such as lithium, originate from multiple processes of mineral dissolution and precipitation, remobilization, geothermal circulation, and evaporation occurring in the basin aquifer.
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