Next Investors logo grey

Reedy Lagoon to commence lithium brine drilling


Published 16-APR-2018 13:05 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Reedy Lagoon (ASX:RLC) has today informed the market that it will begin drilling for lithium brine at its wholly owned Big Smoky South project.

The announcement comes in the wake of RLC achieving the target depth for its drill hole at Columbus Salt Marsh. The Big Smoky South project is located in Clayton Valley, Nevada, near North America’s only producing lithium brine operation.

The drill rig at the hole recently completed on the Company’s Columbus Salt Marsh project is expected to move off that site over the next few days, and will be mobilised at Big Smoky South immediately to drill hole MBD-01 (below).

The drill program at Big Smoky South will investigate a highly conductive zone extending from 600 metres to more than 850 meters below surface shown on the MT Survey profile below.

Next Investors Image

Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.

The program includes hydrological testing to establish aquifer and brine extraction parameters, as well as brine composition analysis. Further reporting of results from the drilling will be released with expected progress as follows:

  • Drill and core sample to 850 metres depth –estimate 4 to 5 weeks
  • Sample and pump test selected aquifers –estimate one week
  • Assays from core samples can be expected 4 weeks from sample delivery
  • Assays from brine samples can be expected 4 weeks from sample delivery
  • Metallurgical studies on the brine samples will be considered in the event that sufficient brine volumes, flow rates and compositions indicate potential for commercial development.

The Big Smoky South Lithium Brine Project is located 5 kilometres from the Silver Peak evaporation ponds and is one of three lithium brine projects located in Nevada, USA all of which are owned 100% by Reedy Lagoon.

Next Investors Image

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.