Sienna hails ‘watershed moment’ for lithium development in Nevada
- Investors are watching Sienna Resources (TSXV:SIE) as recent developments in the Clayton Valley of Nevada signal significant advancements in sustainable lithium production
- SLB (formerly Schlumberger) announced a breakthrough in its lithium extraction technology at its demonstration plant in Clayton Valley that could have positive implications for Sienna Resources, which holds property within the same basin
- This approach allows for lithium production 500 times faster than conventional methods while utilizing only 10 per cent of the land typically required
- Sienna Resources Inc. last traded at $0.045 per share
Investors are watching Sienna Resources (TSXV:SIE) as recent developments in the Clayton Valley of Nevada signal significant advancements in sustainable lithium production.
On Tuesday, SLB (formerly Schlumberger) announced a breakthrough in its lithium extraction technology at its demonstration plant in Clayton Valley. This development could have positive implications for Sienna Resources, which holds property within the same basin.
SLB’s announcement highlighted the success of its proprietary integrated solution, which combines subsurface expertise with advanced surface engineering technologies, including direct lithium extraction. This innovative approach allows for lithium production 500 times faster than conventional methods while utilizing only 10 per cent of the land typically required. The demonstration plant, operating at approximately one-tenth the size of a commercial-scale facility, achieved a verified recovery rate of 96 per cent lithium from brine.
The successful demonstration of this technology has enabled SLB to meet specific technical milestones, qualifying it under the earn-in agreement with Pure Energy Minerals Ltd. SLB now has the option to acquire a 100 per cent ownership interest in the Clayton Valley Project.
Sienna Resources’ property is within the Pure/SLB Clayton Valley Project, specifically in the deepest section of the basin. This positioning could be advantageous as SLB’s advancements in lithium extraction technology progress. However, Sienna Resources’ management cautions that past results or discoveries on nearby properties may not necessarily indicate the presence of mineralization on Sienna’s properties.
“We would like to congratulate the SLB and Pure teams for many years of hard work finally coming to fruition. This is a watershed moment for the Clayton Valley itself, as this marks the true entrance of SLB into the lithium space,” Jason Gigliotti, president of Sienna Resources, said in a statement. “Sienna has been holding its Clayton Valley Deep Basin Lithium Projects for many years watching the developments on this project primarily, as Sienna shares the deepest part of this basin with SLB. SLB still has a road ahead, but this moment is clearly a turning point for development within this basin. We look forward to now moving this project much higher up in the Sienna project priority list.”
As the demand for lithium continues to rise, driven by the growing electric vehicle market and renewable energy storage needs, Sienna Resources Inc. remains a company to watch.
Sienna Resources is a junior lithium and uranium stock exploring a portfolio of projects in Nevada and Saskatchewan.
Sienna Resources Inc. (TSXV:SIE) last traded at $0.035 per share. The stock has risen 16.67 per cent over the past three months but has given back 30 per cent since 2019.
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(Top image via Sienna Resources Inc.)
