Zadar Ventures Ltd. (TSXV:ZAD) announced that it’s entered into a standstill agreement with a private Nevada LLC. Under the agreement, Zadar is able to negotiate an option to buy two prospective lithium projects near Silver Peak, Nevada.
As quoted in the press release:
One of the projects is located immediately adjacent to the Rockwood Lithium Mine and Processing Plant complex in North Clayton Valley and covers approximately 425 hectares, including a gravity low anomaly interpreted to represent a basinal low permissive to host brines containing elevated concentrations of lithium. This project’s merit is supported by a USGS test hole (Drillhole CV-2) located ~600m from the eastern claim boundary that reported a 55ppm Li maximum content from analyzed water samples.
The other project lies approximately 18 kilometres southeast of Silver Peak, Nevada and covers over 330 hectares of an isolated and un-drilled basin which has the potential to host a similar lithium brine environment by virtue of its proximal location to the possible source of the lithium within the Clayton Valley system. This later project has also been the subject of a suite of initial gravity surveys and shows a basinal feature, which if closed, could host brines with elevated lithium concentrations.
The Company intends to have an executed definitive agreement by Feb 25th 2016 and more information on the projects and Zadar’s plans to advance these projects will be released after this event.
Click here to read the full Zadar Ventures Ltd. (TSXV:ZAD) press release.
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