The Clayton Valley in Nevada is home to the only producing lithium brine deposit in North America.
Sienna Resources has exposure to the lithium market through its strategically located property in Clayton Valley, Nevada.
The Clayton Valley happens to be just miles away from Tesla Motors Inc.’s (Nasdaq: TSLA) Gigafactory outside of Reno, Nevada.
The Clayton Valley of Nevada is home to the only lithium brine basin in production in North America.
Albermarle (NYSE:ALB) has been in production in this basin since 1966.
About The Project
Sienna Resources Inc. has acquired the Blue Clay lithium project in Clayton Valley, Nevada. This project consists of 94 contiguous claims totalling approximately 1,950 acres prospective for lithium. Management is now planning to drill as soon as possible.
Jason Gigliotti, president of Sienna Resources, states: “This is a tremendous opportunity for Sienna to acquire a drill-ready lithium project in the heart of the top lithium address in North America, the Clayton Valley of Nevada. Lithium prices have traded to multiyear highs this week, and with every major car company planning to massively expand their electric vehicle fleets, the demand for lithium is showing very strong growth drivers for the foreseeable future. Sienna’s management has been a believer in battery metals, specifically lithium, for many years, and now we have multiple highly prospective projects in Clayton Valley. We are very optimistic about this new project and eagerly look forward to getting boots on the ground with drills turning shortly.”
On Tesla Battery Day, held on September 22, 2020, 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.