Today, Rockstone Research published an update on Belmont Resources Inc (V:BEA) as the company announced earlier today to have received exchange approval for acquiring 100% of the Kibby Basin Property, located 65 km north of the Clayton Valley in Nevada, USA.
According to the newly filed NI43-101 Technical Report, the property has potential to host lithium-bearing brines in a geological setting similar to the continental brine model ascribed to the Clayton Valley.
As Albermarle Corp. has filed an official protest with the Nevada Division of Water Resources (NDWR) against any further granting of water rights in the "overapproriated" Clayton Valley, other basins in Nevada prospective for lithium brines - such as Kibby Basin - may experience increased investor interest in the near future.