Gemini hosts two deep, sub-basins that have the potential for lithium-bearing brines similar to the proven lithium brine deposits located in the Clayton Valley. Lithium occurs in economic quantities within brines in the Clayton Valley where the only producing lithium mine in North America is located. Gemini is situated in a similar geologic environment and is 40 kilometres southeast of the Clayton Valley.
The Company has paid CAD$ 96,794 being its 50% share of the acquisition costs, and geophysical and geological costs incurred to date on Gemini. In addition, Eureka has issued 300,000 common shares to Nevada Sunrise according to the terms of the letter agreement, thereby acquiring its 50% interest in Gemini.
Gemini Lithium Project
In March 2016 , Eureka and Nevada Sunrise commissioned SJ Geophysics Ltd. to perform a follow-up time domain electromagnetic ("TDEM") survey to further define conductive strata present within the two sub-basins at Gemini, first detected in a TDEM survey carried out in February 2016.
The processing and modelling of the combined TDEM data has been completed and 10 drill site locations have been chosen for a late summer drilling program to explore Gemini sub-basins for lithium-bearing brines. A permit application for up to 10 drilling sites has been submitted to the United States Bureau of Land Management.
