ENERGY MINERALS

Dajin gains a partner in Clayton Valley

Cypress Development to earn 50% stake in Alkali Spring Valley lithium project

 Alkali Spring Valley in Nevada

Alkali Spring Valley in Nevada

Under terms of the deal, Cypress will acquire a 50% interest in Dajin's 145 claims and application for water rights in Alkali Spring Valley, in return for US$50,000 cash and 150,000 Cypress common shares, to be issued on TSXV approval. It will issue Dajin another 150,000 shares 12 months after receiving exchange approval, at which time a joint venture will be formed.

Besides exploring for lithium in Alkali Spring Valley, the JV presents potential synergies with Cypress' flagship Clayton Valley lithium project, mainly regarding access to water - something that is exceptionally hard to come by in the arid region.

The project is 11km from Albemarle's Silver Peak operation, North America's only producing brine lithium mine.

Cypress recently completed an oversubscribed C$2 million private placement, which will enable it to complete upcoming milestones for Clayton Valley, including more drilling, a metallurgical study, and a pre-feasibility study, as well as to pursue exploration and the water rights application in collaboration with Dajin.

Elsewhere in Nevada, Dajin remains focused on drilling its Teels Marsh project, where it has secured water rights. The company also has significant landholdings in Argentina, where it has partnered with Toronto-based LSC Lithium (TSXV:LSC) on the 550ha Salinas Grandes project.

The companies plan to capitalise on strong fundamentals for lithium, as the electric vehicle revolution gains traction. According to bullish forecasts, the current 200,000t/y lithium carbonate equivalent (LCE) market is expected to expand to about 36Mt by 2040, and up to 100 million tonnes LCE by 2050.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.