12:35 PM EST, 12/16/2024 (MT Newswires) -- Nevada Lithium Resources ( NVLHF ) was last seen up 14% after the company Monday filed a technical report for its Bonnie Claire Lithium Project, significantly increasing the size and grade of the Lower Zone Inferred Lithium Mineral Resources and reports maiden Lithium and Boron Indicated Resources.

The updated Mineral Resource Estimate includes assays from 11 additional exploration and infill drill holes, and it is expected that the bulk of Inferred Resources can be upgraded to Indicated through additional infill drilling.

The report also includes a maiden resource estimate for the Upper Zone, which would be mined by conventional open-pit methods, as the company plans to use the updated Mineral Resource Estimate in an ongoing Preliminary Economic Assessment expected to be completed by the end of March.

"We are excited to announce the impact of the new drilling in the Lower Zone of mineralized Lithium and Boron at Bonnie Claire," said chief executive Stephen Rentschler. "With the significantly increased tonnage and higher grades, Bonnie Claire is potentially unrivaled by other sediment hosted Lithium projects in Nevada and is amongst the largest and the highest-grade Lithium resources in the world."

The company's shares were last seen up $0.022 to $0.18 on the Canadian Securities Exchange.

Price: 0.18, Change: +0.02, Percent Change: +14.38