Positive results from the latest phase of geophysical exploration at its Clayton Valley Lithium Project in Nevada

Yesterday Sienna’s neighbour in the Clayton Valley, Pure Energy Mines (full release below), announced positive results from the latest phase of geophysical exploration at its Clayton Valley Lithium Project in Nevada.  Sienna has property is the deepest section of this only producing lithium brine deposit in North America.  Sienna is directly inside of Pure’s property.

Thank you for interest in Sienna Resources Inc.  As you can see there are many exciting circumstances that make Sienna a compelling company right now.  Sienna has the “Clayton Valley Deep Basin Lithium Brine Project”.   This project is located directly between and bordering Pure Energy Minerals Limited (PE—TSX.v) and Lithium X Energy Corp (LIX—TSX.v).  The “Clayton Valley Deep Basin Lithium Brine Project” is located in parts of the deepest sections (refer to the map in the pdf) of the only lithium brine basin with a producing operation in North America (Albemarle’s (ALB-NYSE) Silver Peak Mine). 

Pure Energy Minerals, which owns the Clayton Valley South project, has recently released an inferred resource of 247,000 tons of lithium carbonate equivalent on the Clayton Valley South project. According to the PureEnergy Minerals Limited website, “Geophysics shows that the same brine-bearing formations encountered during drilling (Pure) appear to extend to much greater depths within the basin.” Recently Pure Energy Minerals Limited signed a supply agreement with Tesla Motors Inc (TSLA-Nasdaq) to potentially supply lithium hydroxide from its Clayton Valley Lithium Brine Deposit.

The lithium space has garnered significant market exposure recently, especially in the light of the Tesla Gigafactory and the distinct rise in the underlying lithium price.   We are optimistic about the growth of Sienna Resources.   We currently have one of the smaller market caps of comparable junior explorers in the space and we feel the future is only getting better for the lithium sector and the future of Sienna as we develop and explore the “Clayton Valley Deep Basin Lithium Brine Project”.