About The Project
- Cruz has exposure to the lithium market through its strategically located property in Clayton Valley, Nevada
- As an early mover in this play, Cruz is one of only four companies (Albermarle, Pure Energy & Sienna Resources) to have access to the deepest parts of the only lithium brine basin in production in North America
- Pure Energy Minerals Ltd. has signed a lithium supply agreement with Tesla Motors Inc. (Nasdaq:TSLA)
- Pure Energy’s strategic partner, Schlumberger (NYSE:SLB) has begun the initial steps to advance its option to test, develop and acquire the CV Project.
Cruz Cobalt Corp. has exposure to the lithium market through its ‘Clayton Valley Lithium Project’ strategically located inside of, and completely surrounded by Pure Energy Ltd.’s (PE-TSX.v) project in Nevada, USA.
As an early mover in this play, Cruz is one of the few companies (Albermarle, Pure Energy, Spearmint Resources & Sienna Resources) to have access to the deepest parts of the only lithium brine basin in production in North America. Pure Energy Minerals Ltd. has signed a lithium supply agreement with Tesla Motors Inc. (Nasdaq:TSLA).
Nevada lithium companies have recently experienced a resurgence since Tesla’s Battery Day, held on September 22, 2020, where Tesla’s Elon Musk announced their intention to acquire Nevada lithium projects and their overwhelming need to secure domestic lithium deposits to feed their Gigafactory.
On March 18, 2021, Pure’s strategic partner, and energy behemoth, Schlumberger Limited (NYSE:SLB) “announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy. The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. This innovative process can create new market opportunities for lithium extraction and battery manufacturing economy and maximize the value of the lithium-rich resource base in Nevada with cutting-edge extraction technology.
The pilot plant’s deployment is part of the Pure Energy Minerals agreement with Schlumberger New Energy for the development of its Nevada lithium brine property, using advanced technology to process the brine and extract high-purity lithium, maximizing the lithium resource recovery. Commissioning of the pilot plant will begin following receipt of all necessary permits. NeoLith Energy intends to begin operations before the end of 2021.”
When a major company like Schlumberger is advancing the property that completely surrounds Sienna’s, it is clear that lithium in Nevada is gaining attention again.