Sienna Resources “Elko Lithium Project” is comprised of 1,829 contiguous acres in Elko County, Nevada. This project is directly bordering Surge Battery Metals’ (NILI) “Nevada North Lithium Project” (NNLP) in Elko County, Nevada.
Jason Gigliotti, President of Sienna states, “Surge Battery Metals’ recent PEA announcement comes at a time when lithium prices are beginning to rebound in a meaningful way. This area is shaping up to be one of the most exciting lithium addresses in North America and we are very pleased to be right in the heart of it. Not only do we have this lithium project, but Sienna is also one of the largest lithium landholders in Clayton Valley, Nevada. Sienna expects to be very active on multiple fronts in 2025.”
According to the news dated September 12, 2023 from Surge, “The first certified analytical results for the 2023 summer drilling program at Surge Battery Metals Inc.’s Nevada North lithium project (NNLP) have returned multiple zones of high values ranging from 1,000 parts per million to 8,070 ppm lithium, the highest grades for exploration to date on the Nevada North Lithium Project.’
According to the news dated July 24, 2025, “Surge Battery Metals Inc. has filed an independent National Instrument 43-101 technical report for its 2025 preliminary economic assessment study (PEA) on the Nevada North lithium project (NNLP) located in Elko county, north-northeast of Wells, Nev.
NNLP PEA highlights:
- After-tax NPV8 (net present value, 8-per-cent discount rate): $9.17-billion (U.S.), IRR (internal rate of return) of 22.8 per cent at $24,000 (U.S.)/tonne lithium carbonate equivalent (LCE) price;
- Operating cost (opex): $5,243 (U.S.)/t LCE:
- Near-surface, high-grade mineralization drives the Surge NNLP advantage.
- PEA mine and processing plan produces 3.6 Mt (million tonnes) battery-grade lithium carbonate equivalent (LCE) over the 42-year life of mine (LOM):
- Average annual production of 86,300 tonnes LCE;
- Peak production of 109,100 tonnes LCE in year 6.
- Lithium plant will be built in two phases;
- Phase 1 (P1) capital cost (capex): $2.97-billion (U.S.), phase 2 (P2) capex: $2.35-billion (U.S.), total of $5.32-billion (U.S.):
- Sustaining capital: $1.51-billion (U.S.).
- After-tax payback: 4.6 years;
- Average LOM annual after-tax cash flow: $1.06-billion (U.S.).
The PEA, completed jointly by lead consultants M3 Engineering & Technology Corp. and Independent Mining Consultants (IMC), confirms robust economics for a low-cost, large-scale and long-life conventional open pit and dry-stack tailings operation producing battery-grade lithium carbonate through on-site treatment of the mined material processed through a sulfuric acid leaching circuit. The PEA scenario envisions 2 phases over the initial 42-year life of mine. Phase 1 includes 2.58 million tonnes per annum (Mtpa) processing throughput doubling to 5.15 Mtpa in phase 2, which comes online in year 4 of production. A combination of the shallowest and highest lithium grades is prioritized for processing, resulting in a variable production of battery-grade lithium carbonate that peaks in year 6 at 109,100 tonnes LCE, and averages 86,300 tonnes/year LCE for a total of 3.63 million tonnes LCE over the LOM at a lithium recovery of 82.8 per cent.”
Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company’s properties. Mr. Frank Bain, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this website.
