Mining

Monger Gold completes lithium project soil sampling just eight weeks after acquisition

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By Robin Bromby - 
Monger Gold ASX MMG Nevada lithium project soil sampling Scotty's

Assays from Monger Gold’s soil sampling at its Scotty lithium project are expected in about six weeks.

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All 19,280 acres at Monger Gold’s (ASX: MMG) Scotty lithium project in Nevada has already be subjected to intensive soil sampling as the company moves into high gear at its latest acquisition.

Assay results are expected in about six weeks, this paving the way for selection of drill targets.

Monger announced the proposed acquisition of Scotty in May but completed the deal only eight weeks ago.

Scotty is located 70km from Albemarle Corporation’s Clayton Valley lithium mine — the only producing lithium mine in the US — and 330km from Tesla’s Gigafactory.

Believes ground contains extensions of adjoining lithium find

Maiden drilling at Scotty is scheduled to begin in the current quarter.

Monger says it believes there is a “high probability” that its property contains extensions of high-grade lithium mineralisation from the adjacent Bonnie Claire project, owned by Vancouver-based Iconic Minerals (TSXV: ICM).

Monger describes Bonnie Claire as one of North America’s largest lithium deposits.

Previous sampling returned high grades

Only 3% of the Scotty project has been previously been subjected to soil sampling, but that historic sampling returned what the company describes as “extremely strong and coherent” anomalism.

Grades up to 330 parts per million lithium were reported, which is similar to those found at Clayton Valley.

Monger chairman Peretz Schapiro says the company is now poised to maximise shareholder value as it enters the next phase of growth.

“We are delighted to have completed this soils program within only eight weeks of completing the acquisition,” he added.

Lithium-bearing brine across project area

A total 699 soil samples have been submitted to a Reno laboratory.

In announcing the proposed acquisition in May, Monger also reported that lithium-bearing brine was found across the Scotty project area.

The company is aiming to become a leading supplier of lithium to the downstream North American battery industry.

Earlier this year, President Joe Biden invoked the Defence Production Act to encourage domestic production of battery minerals.

Monger says Nevada is one of the most favourable jurisdictions in the world for mineral exploration and development.