CAD 11.1% 0.8¢ caeneus minerals ltd

Sarcobatus Flats

  1. 231 Posts.
    Here is a deal in the area with other companies. Can get an idea on what is below the surface

    Sarcobatus Flats is a desert playa lake located in Nye County, western Nevada along state route 95 approximately 109 kilometres south of Tonopah and 72 kilometres southeast of Clayton Valley, the location of the producing Silver Peak world-class lithium brine deposit. The Sarcobatus Flats project consists of 105 placer claims totaling 1,076 hectares.
    The acquisition of the new claims was prompted due to the highly anomalous concentrations of lithium, ranging between 210 and 340ppm Li, encountered from a preliminary surface sediment sampling program conducted on the Sarcobatus Flats claim group. As additional encouragement, there are several important similarities between the settings of Sarcobatus Flats and a Clayton Valley type lithium brine deposit. The property is located in a closed structural basin, contains similar stratigraphy and occupies a lacustrine environment similar regional hydrogeography and geochemistry to Clayton Valley. In essence, Sarcobatus Flats represents an under-explored early stage analogue to Clayton Valley.
    To earn a 100% interest, TNR has agreed to make payments totaling USD$130,000 and issue 675,000 common shares of TNR over a four-year period. The vendor will retain a 2.5% royalty of which the Company has the right to purchase up to 2% of the Royalty, by paying Tonogold USD$1 million per 1% purchased, for a total of USD$2 million, thereby reducing Tonogold’s NSR to 0.5%. The agreement is subject to regulatory approval.
    Work Programs
    The Company intends to explore its Nevada properties and determine if lithium evaporates and brine deposits have formed similar to those found at Clayton Valley. TNR is developing an integrated regional lithium exploration approach using geochemical and basin modeling with gravity, electromagnetic, hydrogeological, and geochemical fieldwork to identify drill targets. The TNR exploration team has extensive geochemical, GIS modeling and targeting experience across four continents with specific expertise in lithium and other rare metals.
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