How do you strike it rich? There was The Gold Rush, where $2 billion worth of precious metals were mined between 1849 and 1852, and in more recent years, the increasing price of silver saw a boom in silver mining in the United States. However, in a world that’s increasingly dependent on technology, those looking to strike it rich often aren’t seeking gold, silver, or any number of well-known valuable metals. Instead, savvy companies like Dajin Resources Corp ($DJI:CA) ($DJIFF) are seeking their fortunes in lithium.
Dajin Resources Corp is a Canadian energy metals company that has taken an interest in a playa located in Nevada.
Recently, theyannounced that an applicationfor water rights of the Teels Marsh has been filed with the Nevada Division of Water Resources in order to move forward with a lithium development project.
As stated in Dajin’s water rights application, the lithium development project, which has passed both the publication and protest period without opposition, will allow a pump rate of 620 gallons per minute, not to exceed 1,000 acre feet per annum. The Teels Marsh is conveniently located 50 miles northwest of the sole producing brine-based lithium mine operation in the North American, Rockwood Lithium Inc. ($ROC).
Lithium is a highly reactive element identified as a malleable silver metal that is used in the production of heat-resistant glass and aluminum production. However, lithium is also used in the production of batteries which an increasingly technology-dependent society can’t function without.
Located in Mineral County, Nevada, the site was originally prospected in the late 19th-Century by Francis Marion Smith, better known as the Borax King. Over time, reports made by the US Geological Survey further confirmed high concentrations of lithium and boron on the site. Teels Marsh has been identified as a potential brine-based lithium target since the marsh contained an active geothermal system, a quality similar to other sites such as Clayton Valley and Alkali Lakethat contain known lithium concentrations. Dajin currently holds 150 claims, or 100% of the 3,010 acres that make up the Teels Marsh property.
More lithium means the world can keep producing lubricants, ceramics and, of course, batteries. More importantly, successfully mining this very crucial element also means more development of innovation that continues to move technology forward at an incredible pace. With their lithium development project at the Teels Marsh, Dajin Resources should be well-positioned to take advantage of lithium’s increasing value as an essential component in some of the fastest growing technology sectors.
More information regarding Dajin Resources and their projects can be found on their website: www.dajin.ca.
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