One company with a lithium boron play in the heart of Nevada – just 340km from Tesla – has big ambitions. So big in fact that the company is on a quest to produce 10% of the world’s lithium supply.
This goal may be made easier as Global Geoscience (ASX: GSC) has one of the largest lithium-boron deposits in the US.
GSC has just completed its initial drilling at its Rhyolite Ridge lithium-boron play and would be buoyed by results, which demonstrate the potential for simple and low-cost processing to produce lithium carbonate and boric acid.
The company is positioning itself as a low cost, easy to process, high margin project, which is potentially funded through to the completion of an imminent PFS in the September 2017 quarter.
With a JORC resource on its hands, GSC looks to be in a very good position to meet future lithium demand.
This freshly cashed up, $122 million capped company is not only near Tesla, importantly it is just $25km from Albermarle’s Silver Peak lithium brine mine, the only lithium mine in the US and one which has produced lithium continuously since 1996.
GSC is hoping for similar success.
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With a maiden JORC Resource in hand, first round drilling complete, strong results, ideal location, and honing in on a uniquely inexpensive means of production, GSC is confident its two-pronged commodity play can one day help it join the ranks of the top four lithium producers in the world.