12:35 PM EDT, 07/02/2024 (MT Newswires) -- Pure Energy Minerals ( PEMIF ) on Tuesday said it formed a partnership with Schlumberger (SLB) to advance its Clayton Valley lithium brine project in Nevada.

The company said Schlumberger deployed a demonstration plant onsite to test an integrated approach that combines subsurface expertise and surface engineering of advanced technologies, including direct lithium extraction.

"SLB's demonstration plant represents a significant step toward sustainable lithium brine production at scale. The ongoing technical trials at the facility give us increased confidence that SLB's integrated approach is the future for lithium brine extraction in Clayton Valley and elsewhere," chief executive Joseph Mullin said in a release.

The company's shares were last seen down $0.01 to $0.32 on the TSX Venture Exchange.

Price: 0.32, Change: -0.01, Percent Change: -3.03