Nevada Sunrise Gold looks to buy water rights
JOHANNESBURG (miningweekly.com) – TSX-listed Nevada Sunrise Gold has signed a letter agreement for the option of buying water rights in the Clayton Valley of Nevada.
The pre-existing water rights, valued at $1.42-million, allowed for 1 770 acres a year of water use for mining and milling.
"The acquisition of water rights is an important step toward the potential development of any lithium brine discoveries on our Clayton Valley exploration properties," said CEO Warren Stanyer.
"We believe that any consumption of water in the Clayton Valley requires valid water rights to meet State regulations, especially in Nevada, the most highly-regulated state for water use in the US,” he added.
In December 2015, Nevada Sunrise received a written appraisal from an independent appraiser certified in the State of Nevada. According to the report, the Clayton Valley basin was currently "overappropriated", with the Albemarle Silver Peak lithium mine being the largest consumer of water in the area.
The report further stated that any new application for water use in an overappropriated basin would be carefully reviewed by the Nevada Division of Water Resources, adding that it was uncertain if any new applications would be granted.
In consideration for an option to buy the permit, Nevada Sunrise has agreed to pay the vendors a combination of cash, common shares and common share purchase warrants.
Nevada Sunrise currently had three lithium exploration projects in the Clayton Valley, which hosted known lithium brine deposits, including the Silver Peak lithium mine.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Stewarts & Lloyds is a leading steel, tube, and engineering product supplier in South Africa.
VISIT SHOWROOM
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
