21:07:43 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Sienna Resources Inc
Symbol SIE
Shares Issued 184,263,316
Close 2023-09-01 C$ 0.04
Market Cap C$ 7,370,533
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Sienna Resources closes Elko property option

2023-09-05 16:07 ET - News Release

Mr. Jason Gigliotti reports

SIENNA CLOSES AN AGREEMENT FOR AN OPTION TO ACQUIRE 100% OF THE "ELKO LITHIUM PROJECT" IN ELKO COUNTY, NEVADA BORDERING SURGE BATTERY METALS

Sienna Resources Inc. has closed an arm's-length property option agreement to acquire a 100-per-cent interest in the Elko lithium project in Elko county, Nevada. This project consists of 79 claims consisting of approximately 1200 contiguous acres directly bordering Surge Battery Metals' "Nevada North Lithium Project" in Elko County, Nevada. This project now makes Sienna one of the largest landholders in this new lithium district that borders Surge Battery Metals (NILI). The Nevada North Lithium Project has returned some of the highest grades for lithium in Nevada. According to Surges website, "Drill hole NN2207 intersected the thickest intervals of lithium-rich claystone encountered to date; a total of 120.4 metres (395 feet) averaging 3,943 parts per million lithium in four zones." Plans are being formulated immediately for the first phase of work on this project. Sienna management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative of the presence of mineralization on the company's properties.

Jason Gigliotti, President of Sienna states, "This is one of the most exciting lithium regions in North America. We are pleased to be one of the largest landholders in the area that borders Surge. The grades that were encountered by Surge are some of the highest grades attained in Nevada and having a project that is directly bordering this new lithium discovery holds tremendous promise for Sienna's shareholders. We plan to immediately commence plans for the first phase of work on this project. Not only do we have this new lithium project, but Sienna is one of the largest landholders in Clayton Valley, Nevada through its other property interests. Sienna has sufficient cash resources for anticipated exploration plans, and we expect to be very active on multiple fronts in the remainder of 2023. Management is very optimistic about the future and looks forward to what will happen in the ground on these projects."Elko Country MapTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/854/179562_6d3e693ac4b96aba_002full.jpg

Recently, the Bureau of Land Management (BLM) has given Sienna approval for up to 4 additional holes to be completed on the 100% owned Blue Clay Lithium Project in Clayton Valley, Nevada (See map). On March 25, 2022, Sienna revealed a new lithium discovery on the Blue Clay Lithium Project. Lithium values as high as 1230 ppm Li were encountered. The Blue Clay Lithium Project consists of 150 contiguous claims totaling approximately 2,950 acres prospective for lithium right in the heart of the Clayton Valley in Nevada, which is currently home to the only producing lithium region in North America.

Terms of the agreement can be found in the news dated August 17, 2023.

About Sienna Resources Inc.

Sienna is one of the larger landholders in Clayton Valley Nevada. Sienna's Clayton Valley projects include the Blue Clay Lithium Project, the Silver Peak South Project, and the Clayton Valley Deep Basin Lithium Project. The Clayton Valley is home to the only lithium production in North America, being Albemarle Corp's Silver Peak deposit. This project is also near Tesla Motors Inc.'s Gigafactory in Nevada. On March 18, 2021, Schlumberger New Energy Venture announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy in a strategic partnership with Pure 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. Results from this pilot plant are expected in 2023 and could have a significant impact on the brine prospects within Clayton Valley Nevada. Sienna also has the 'Marathon North Platinum-Palladium Property' in Northern Ontario directly bordering Generation Mining Marathon Deposit.

Qualified Person:

Mr. Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.

We seek Safe Harbor.

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