Lithium mining firm Dajin Resources signs JV with geothermal developer in Nevada
Dajin Resources enters JV with Geothermal Development Associates (GDA) on the cooperation on exploration data supporting a Lithium brine extraction facility as well as development of geothermal projects for power generation and direct use.
In a release today, Canadian firm Dajin Resources Corp. announces that it has signed a Joint Venture Agreement (JV) with Geothermal Development Associates (GDA), Reno, Nevada. GDA’s principle line of business is the development of geothermal resources for electrical generation. They hold geothermal leases that overlap Dajin’s placer claims in the Teels Marsh valley. As a result of this JV, GDA and Dajin will share exploration data with the ultimate aim of supporting the development of a Lithium brine extraction facility as well as development of a geothermal plant for electrical generation and the production of direct-use thermal water. This agreement outlines a cooperative relationship where both companies will be focusing on their key strengths to mutually develop Lithium brine and renewable energy resources.
Dajin’s President Brian Findlay commented, “The link between geothermal systems and Lithium enrichment has been well documented, so the presence of a strong geothermal system is a good indicator for potentially commercial grades of Lithium in brine. This factor, along with preferential access to green renewable electrical power and thermal energy to power a potential future Lithium brine operation without competition over surface and water rights, enhances the chances of identifying economic Lithium and geothermal resources.” GDA’s President Martin Booth said, “We are pleased with this association with Dajin who understands and appreciates the significance of geothermal resources and how collaboration can help both companies move forward on their respective developments.”
Key attractions of Dajin’s Teels Marsh valley Lithium brine project include identified near-surface Lithium-bearing brines, possession of granted water rights, and minimal land fragmentation. The basin beneath the playa is up to 8,200 feet (2,500 metres) deep. Prior geothermal exploration results indicate favourable geochemistry and shallow sub-surface temperatures of up to 206°F (97°C) at 131 feet (40 meters) depth at the northwest end of the valley. In March 2017, the Bureau of Land Management accepted Dajin’s Notice to proceed with civil works and drilling as part of its exploration for Lithium brines. Construction of the roads and pads in preparation for drilling is underway. A National Instrument 43-101 report on the Teels Marsh project was released in April 2017 (a copy can be obtained by clicking here).
The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements of National Instrument 43-101 and has been reviewed and approved on behalf of Dajin Resources Corp. by Dajin Directors, Dr. Catherine Hickson, P. Geo and Dr. Mark Coolbaugh, P.Geo, the Qualified Persons.
Source: Company release via Globe Newswire