Sienna Closes an Agreement for an Option to Acquire 100% of the "Elko Lithium Project" in Elko County, Nevada Bordering Surge Battery Metals
Sienna Closes an Agreement for an Option to
Acquire 100% of the "Elko Lithium Project" in
Elko County, Nevada Bordering Surge Battery
Metals
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2023) - Sienna Resources Inc. (TSXV:
SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) ("Sienna" or the "Company") is pleased to announce that it
has closed an arm's length property option agreement to acquire a 100% 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 Map
To 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.
If you would like to be added to Sienna's email list, please email
for
information or join our twitter account at
@SiennaResources
.
Contact Information
Tel:
1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
"Jason Gigliotti"
President, Director
Sienna Resources Inc.
Statements in this news release that are not historical facts are forward-looking statements.
Forward-
Looking statements are statements that are not historical, and consist primarily of projections -
statements regarding future plans, expectations and developments.
Words such as "expects",
"intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of
similar import tend to identify forward-looking statements.
Forward-Looking statements in this news
release include the exercise of the option, TSX Venture Exchange approval of the agreement and
mineralization potential regarding the Project.
All of these forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other factors that could cause actual events or
results to differ from those expressed or implied, including, without limitation, that the Company may
not be able to obtain TSX Venture Exchange approval; may not elect to exercise the option; may not
be able to conclude the property expenditure requirements as required; uncertainty of exploration and
development plans regarding the property; commodity price fluctuations; political or economic
instability and regulatory changes; currency fluctuations, the state of the capital markets; uncertainty
in the measurement of mineral reserves and resource estimates; the Company's ability to attract and
retain qualified personnel and management; potential labour unrest; reclamation and closure
requirements for mineral properties and the availability of capital to fund the Company's projects, as
well as other risks and uncertainties identified under the heading "Risk Factors" in the Company's
continuous disclosure documents filed on SEDAR.
You are cautioned that the foregoing list is not
exhaustive of all factors and assumptions which may have been used.
The Company cannot assure
you that actual events, performance or results will be consistent with these forward-looking statements,
and management's assumptions may prove to be incorrect. These forward-looking statements reflect
current expectations regarding future events and operating performance and speak only as of the date
hereof and the Company does not assume any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions should change other than as
required by applicable law. For the reasons set forth above, you should not place undue reliance on
forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
press release.
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