Caeneus Minerals Ltd (ASX: CAD)
Caeneus Minerals (ASX: CAD) has commenced drilling at two of its five lithium projects, and is now well underway to confirming the presence of lithium in Nevada.
Nevada is the epicentre of the lithium-ion battery revolution, with CAD’s project well situated near Tesla’s Gigafactory 1, and Faraday Future’s proposed $1 billion electric car factory.
CAD, which importantly has three lithium brine projects, is also just 40 kilometres from $12 billion Albemarle Corp.’s (NYSE: ALB) Silver Peak Lithium Mine, the only producing lithium mine in North America.
Given results to date and its positioning, could there be plenty of space for this junior lithium explorer to really make its mark in this lithium hot spot?
Drilling has begun at CAD’s Scotty’s South and Lida Valley Projects and will be expanded in the near future.
Results are due shortly and news is expected to flow with a series of follow-up announcements anticipated over the coming months, which will be of particular interest to investors.
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So with its maiden drill programme now commenced at two of its Nevada lithium brine projects, this $17.4 million junior, with a handful of highly prospective projects, is well positioned to potentially capitalise on the rechargeable battery movement.
And with drilling to commence at its third project imminently, CAD is roaring ahead with its lithium ambitions.