Kibby Basin Lithium Project, Nevada

Kibby Basin Lithium Project, Nevada

3,000m Drill Program in Progress

Target: large conductive target (brine lithium) beneath the Kibby Basin Playa

The Kibby Valley Basin totals 13,440 acres (54 sq kms). The property is located 60 kms north of Clayton Valley Basin, Nevada. Albemarle is located in the Clayton Valley and owns the only producing  lithium mine in the United States

Belmont-Resources-Kibby-Basin-Lithium-Project Drill Plan
Belmont Resources - Kibby Basin Lithium Project Conductive Anomaly

Active Faulting

Kibby Basin-with-surface
  • Active faulting appears to be involved in all lithium basins. Fault-related subsidence creates accommodation space, without which only a thin veneer of basin sediments could accumulate.
  • Brine pools in Clayton Valley and Salar de Atacama are localized along active intrabasinal faults that control the distribution of aquifers and also influence groundwater movement patterns. (Zampirro, 2004; Jordan and others, 2002).

Gravity Survey

Kibby-Basin-w-Faults
  • A pull‐apart drop down closed basin.
  • A thick basin fill is needed to provide an aquifer of sufficient volume to hold a viable brine resource.
  • The setting of Kibby Flat indicates a basin large enough to develop layers that could act as aquifers as well as allow for development of a favorable hydrogeologic setting to host lithium‐bearing brines.

Magnetelluric (MT) Survey

Belmont Kibby Basin 3D Iso View
  • Lithium Brines are salty and as a result are highly conductive. Magnetelluric (MT) geophysical survey identified large (34 sq km) conductive anomaly (<5 ohm) that may represent a potential large target for Li‐brines.
Nevada Lithium Companies

The increased interest in lithium brines has also led to increased research into the origin of lithium brines in the United States and elsewhere.

Kibby and Clayton Valleys

The KibbyBasin Lithium Project is situated 60kms north of Clayton Valley Basin.

Kibby and Clayton Valleys

Kibby has similar criteria for potential lithium deposits to that of the Clayton valley to the south.

Kibby Catch Basin

1) Major catch basin
2) Basin has structural traps and is closed with no outlets for drainage
3) Associated igneous or geothermal activity,
4) Suitable lithium source rocks,
5) One or more adequate aquifers

Marquee Resources Options Kibby Playa Claim Block

In November 2021, Belmont announced a Option/JV agreement with Marquee Resources (ASX.MQR) for the “Kibby Playa” claim block, one of 5 claim blocks 100% owned by Belmont Resources in the Kibby Basin.

Agreement terms are:

  • for Marquee to issue Belmont C$100,000 cash upon signing (completed),
  • issue 3,000,000 Marquee shares (2,000,000 issued to date)
  • and incur C$2,500,000 in exploration expenditures within 15 months of the signing of the Option Agreement
  • to earn up to an 80% interest in the claim block.

The Belmont/Marquee JV has recently initiated a 3,000m, 3 drill hole program to test the highly conductive anomaly which may potentially represent a large lithium brine aquifer.

Permitted for Water

The Kibby Basin lithium property is fully permitted by the state of Nevada to extract a maximum 2,896 acre-feet (944 million gallons) annually of water for brine processing and production of lithium compounds.

Obtaining a water permit for the Kibby Basin lithium project was a major milestone for Belmont where, because of the desert conditions in the region, water is of major importance to any potential mining operation. The Clayton Valley Basin for instance is over-appropriated (current water rights are in excess of water volumes available for an average year) and obtaining water rights for proposed operations is a hurdle that several companies in the Clayton Valley Basin have yet to overcome, even in their advanced stage of development.

Cypress Development (TSV:CYP) recently paid $3,000,000 for a water permit in Clayton Valley  (Cypress NR) which allows for the beneficial use of 1,770 acre/feet of water annually for mining, milling and domestic use.