TSX.V: NILI

OTC: NILIF

Nevada North Lithium Project

Overview

The Company owns a 100% interest in 95 mineral claims located in Elko County, Nevada. The Nevada North Lithium Project is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a Thacker Pass or Clayton Valley type lithium clay deposit in volcanic tuff and tuffaceous sediments of the Jarbidge Rhyolite package. The project area was first identified in public domain stream sediment geochemical data with follow up sediment sampling and geologic reconnaissance returning assay results for lithium ranging from 29.1 ppm to 5,120 ppm. Significant results included 89 samples outlining a highly anomalous zone containing sample points greater than 1,000 ppm lithium.Currently, the zone of highly anomalous lithium values extends about 1,700 meters east-west in two bands each about 300 to 400 meters wide. The anomalous values appear to be in soils developed on airfall or water lain rhyolitic tuff overlain by welded ash flow tuff.

Total Claims

154 mineral claims in 1 group

Total Area

794 hectares
(1,964 acres)
(3 sq Miles)

Geology

Mapping has identified regional rocks as being of similar age & composition as the McDermitt Tuff that hosts Lithium America’s Thacker Pass lithium deposit, one of America’s largest lithium deposits.

History

The immediate project area has not been the subject of modern detailed geologic mapping or age dating. There has been limited stream sediment and rock chip sampling accomplished to date show strong initial lithium readings. Sediment samples include 1,980 ppm and 1,540 ppm lithium. Rock chip samples include up to 367 ppm lithium though not being collected in the anomalous drainages.

History

The immediate project area has not been the subject of modern detailed geologic mapping or age dating. There has been limited stream sediment and rock chip sampling accomplished to date show strong initial lithium readings. Sediment samples include 1,980 ppm and 1,540 ppm lithium. Rock chip samples include up to 367 ppm lithium though not being collected in the anomalous drainages.

The Galt Property - San Emidio Desert

Overview

The San Emidio Project is located in the San Emidio Desert, Washoe County, Nevada about 99 km north-northeast of Reno, Nevada. The Company has a Property Option Agreement to earn an undivided 80% interest in 16 mineral claims, comprising 640 acres located within Nevada’s San Emidio Desert, known as the Galt Property. Recent mineral exploration on the Galt claim group includes 51 playa sediment samples collected for chemical analysis at ALS Geochemistry in Vancouver, B.C. Results of aqua regia leaching of the samples show 68 to 852 parts per million lithium (mean 365 ppm), 5.3 to 201 ppm cesium (mean 72 ppm) and 35 to 377 ppm rubidium (mean 180 ppm). Results from two seven-foot-deep auger holes show lithium, cesium, and rubidium concentrations in the range of 143.5 to 773 ppm Li, 56.8 to 102.5 ppm Cs and 155 to 272 Rb.

Total Claims

16 mineral claims

Total Area

259 Ha (640 acres)

Teels Marsh Lithium Project

Overview

Teels Marsh West is a highly prospective Lithium exploration project, 100% owned without any royalties, located on the western part of a large evaporation pond, or playa (also known as a salar). Structural analysis reveals that Teels Marsh is bounded by faults and is tectonically active. Tectonic activities supply additional local permeability that could be provided by the faults that bound the graben and sub-basins.

Shallow auger holes and drill-holes (<60 m) show that unconsolidated basin fill deposits include clays, clastic rocks silts and sands), evaporate deposits, and volcanic ash. With the exception of clays, these rocks represent potential sources of permeability. Volcanic ash beds could host significant zones of permeability, due to the relative proximity of Teels Marsh to young volcanic centers at Mono Craters (near Mono Lake) and Long Valley, California, both located approximately 70 km to the southwest. These ash layers have proven to be the most productive brine sources in Clayton Valley (an active geothermal area). The Bishop Tuff, which is believed to represent an important zone of permeability at Clayton Valley, (site of active lithium production 80 km to the SE) is likely present in the subsurface at Teels Marsh.

Direct evidence of an active geothermal system in the Teels Marsh area has recently been gathered by researchers at the Nevada Bureau of Mines and Geology, University of Nevada, Reno and the Desert Research Institute. This evidence comes from mapping anomalously high temperatures at a depth of only 2 meters below the basin surface: these temperatures are as high at 35C compared to background temperatures of approximately 16-18C. The temperature anomalies occur in two separate zones, both of which are adjacent to a Quaternary fault on the western margin of Teels Marsh basin. The two temperature anomalies have a combined strike length parallel to the fault of almost 4 km. A USGS geochemical survey conducted in 1976 reported lithium values as high as 850 ppm from samples taken from springs marginal to these fault structures.

Total Claims

100 placer claims

Total Area

809 Ha

Historical Exploration

In 2016, the former owner collected twenty-seven shallow auger sediment samples from the Teels Marsh West Project area. This initial sampling program was primarily a test of the sampling method to see if it could be used to collect samples beneath low sand dunes and alluvial gravel. Additional samples were collected using a powered auger to reach a maximum depth of 2.9 meters (9.5 ft.) below the surface. The holes were initially drilled with an electric auger and bottom hole samples were collected with a hand tulip style sampler. Sampling was conducted by Pediment Gold LLC of Sparks, Nevada. Samples were collected on site and transported to the ALS Global preparation facility in Elko, Nevada. Samples were analyzed by ALS using their MEMS41 multi-element package. QA/QC standards and blanks were inserted into the sample stream to assure accuracy.

Lithium values ranged from 8.9 to 104.5 ppm. The two best results (93.2 and 104.5) were obtained downstream of thermal springs on the western part of the property. A general increase in values was noted at the playa margin with lower values in the alluvial fan on the southwestern part of the property. Many of the sites on the alluvial fan did not penetrate to the maximum depth due to boulders. Sampling was supervised by Alan J. Morris CPG who serves as the project geologist and Qualified Person on the Teels Marsh West Project.

Mr. Greg Reimer, Company President & CEO states “Our Teels Marsh West project is adjacent to the Daijin Lithium Corp.’s (TSXV: DJI) Teels Marsh project which comprises a land position of 3,202 hectares and 403 Placer claims. In 2018, Dajin began to move forward with construction of the engineered roads and drill pads at Teels Marsh valley in preparation for the drilling of four (4) production sized exploration wells. The area is getting a lot of attention as EV battery production builds up in Nevada and globally, and we look forward to continuing to increase the value of our strategic company assets, for the benefit of our shareholders. “