VANCOUVER, BC, Dec. 7, 2022 /PRNewswire/ – Nevada Lithium Assets Inc. (CSE: NVLH) (OTCQB: NVLHF) (FSE: 87K) (“Nevada Lithium” or the “Firm“) and its 50% accomplice within the Bonnie Claire Lithium Undertaking (the ‘Undertaking’ or ‘Property’), Iconic Minerals Ltd. (TSXV: ICM) (OTCQB: BVTEF) (FSE: YQGB) (“Iconic“), are happy to supply an replace on their drill program on the Property, situated in Nye County, Nevada.

As of November 30^th, 2022, a complete of 9,880 ft (3,011 m) has been accomplished over one (1) mud rotary drill gap and 4 (4) core drill holes. Core pattern assays are introduced herein for a further core gap accomplished at Bonnie Claire – BC2203C – with preliminary¹ outcomes offered in Desk 1.

The lithium grades of the BC2203C core gap have a really comparable grade-depth profile as that of the beforehand reported core gap BC2201C, situated roughly 0.5 miles away (see information launch dated September 29^th, 2022, in addition to Determine 1). Each drill holes show a powerful lithium grade near-surface (~900 – 1,100 ppm Li) to a depth of roughly 400 ft to 450 ft, and a lower-grade central part adopted by a high-grade backside half of the drill gap the place lithium grade will increase with rising depth via to the end-of-hole at 2,000 ft (~2,100 ppm Li)¹.

Nevada Lithium CEO, Stephen Rentschler, commented: “The core drilling this 12 months at Bonnie Claire continues to show that prime grades of lithium are current, each close to floor and at depth. We stay up for the subsequent set of outcomes from our 50% accomplice, Iconic Minerals.”

High quality Assurance / High quality Management (QAQC)

A High quality Assurance / High quality Management protocol was applied for this system by the Operator, Iconic Minerals, and included insertion of quartz blanks and requirements into pattern batches. Drill gap BC2203C was sampled from high to backside with samples shipped to ALS USA Inc. in Reno, Nevada, for geochemical evaluation.

As soon as obtained, samples have been weighted, crushed to 70% passing -2 mm, riffle cut up to 250 g, and pulverized to 85% passing -75 micron forward of research. Evaluation was accomplished by ICP-MS following an aqua regia digestion (package deal ME-MS41 Extremely Traces Aqua Regia ICP-MS).

1. The Firm notes that it has relied on the inner QAQC of ALS laboratory in Reno, Nevada, for the outcomes reported herein, and that the Undertaking Operator has submitted test assays to a secondary lab to reaffirm. Due to this fact, outcomes offered herein needs to be seen as preliminary in nature.

QP Disclosure

Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Firm, and Certified Individual as outlined by Nationwide Instrument 43-101, supervised the preparation of the technical data on this information launch.

Bonnie Claire Property

The Bonnie Claire Property is situated inside Sarcobatus Valley, which is roughly 30 km (19 miles) lengthy and 20 km (12 miles) extensive. Quartz-rich volcanic tuffs containing anomalous quantities of lithium happen inside and adjoining to the valley.  Drill outcomes from the salt flat embody 2,054 ppm Li over  67.1 m (220 ft) in drill gap BC-1601 in addition to a 475 m (1560 ft) vertical intercept that averaged 1153 ppm Li. Bonnie Claire is one the most important lithium sources in North America with a present NI 43-101 inferred mineral useful resource 3,407 million tonnes (Mt) grading 1,013 ppm Li for 18,372 million kilograms of contained lithium carbonate equal, at a cut-off grade of 700 ppm Li. Mineral sources should not mineral reserves as they don’t have demonstrated financial viability.

The gravity low that characterizes the valley is roughly 20 km (12 miles) lengthy, and the present estimates of depth to basement rocks vary from 600 to 1,200 meters (2,000 to 4,000 toes).  The present declare block covers an space of 74 km2 (28.6 mi2) with potential for brine techniques and additional sediment sources.

About Nevada Lithium Assets Inc.

Nevada Lithium Assets Inc. is a mineral exploration and improvement firm centered on shareholder worth creation via its core asset, the Bonnie Claire Lithium Undertaking, situated in Nye County, Nevada, the place it presently holds a 50% curiosity. A lately accomplished NI 43-101 Preliminary Financial Evaluation returned engaging funding metrics and the Firm is actively advancing the Undertaking in the direction of Prefeasibility. Be taught extra: https://www.nvlithium.com/

ON BEHALF OF THE BOARD OF DIRECTORS:

Stephen Rentschler
CEO

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The CSE doesn’t settle for duty for the adequacy or accuracy of this launch.

Cautionary Assertion

This information launch accommodates sure forward-looking data and forward-looking statements throughout the which means of relevant securities laws (collectively “forward-looking statements”). The usage of any of the phrase “will” and comparable expressions are meant to establish forward-looking statements. These statements contain recognized and unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. These forward-looking statements embody, however should not restricted to, the proposed exploration program, improvement of the Bonnie Claire Undertaking, and development of the Bonnie Claire Undertaking to pre-feasibility. Precise outcomes achieved might fluctuate from the knowledge offered herein on account of quite a few recognized and unknown dangers and uncertainties and different elements. The Firm believes the expectations mirrored in these forward-looking statements are cheap, however no assurance might be provided that these expectations will show to be right. The Firm doesn’t undertake to replace these forward-looking statements, besides as required by regulation.

SOURCE Nevada Lithium Assets Inc