VANCOUVER, British
Columbia, May 20, 2016 (GLOBE NEWSWIRE)
-- Sienna Resources Inc (SIE—TSX.v)
(A1XCQ0 –FSE) (HBNRF—OTCBB) wishes to
announce that Sienna has acquired the
“Clayton Valley Deep Basin Lithium Brine
Project”. This project is
located directly between and bordering
Pure Energy Minerals Limited and Lithium
X Energy Corp. The “Clayton Valley
Deep Basin Lithium Brine Project” is
located in parts of the deepest sections
(refer to the map) of the only lithium
brine basin with a producing operation
in North America (Albemarle’s Silver
Peak Mine). Pure Energy Minerals,
which owns the Clayton Valley South
project, has recently released an
inferred resource of 816,000 tons of
lithium carbonate equivalent on the
Clayton Valley South project. According
to the Pure Energy Minerals Limited
website, “Geophysics shows that the same
brine-bearing formations encountered
during drilling (Pure) appear to extend
to much greater depths within the
basin.” Recently Pure Energy Minerals
Limited signed a supply agreement with
Tesla Motors Inc to potentially supply
lithium hydroxide from its Clayton
Valley Lithium Brine Deposit.
To view the Clayton
Valley Depth of Basin Map please visit:
http://orders.newsfilecorp.com/files/854/20702_a1463695323486_5.jpg
Jason Gigliotti, President
of Sienna Resources Inc. stated, “We are
pleased to be one of the few companies
that have property within the only known
lithium brine basin with production in
North America. Saline brines are
higher density than fresh or brackish
water and therefore tend to sink.
Based on this, management is optimistic
regarding this project as we are located
in the deeper sections of this basin.
Sienna also currently has one of the
smaller market caps of the public
companies in the Clayton Valley.
The lithium space has shown signs of
explosive growth recently and shows
little to no signs of slowing
down. Lithium is one of the few
sectors of the market that appeals to
both the traditional resource investor
and millennials, as Tesla has primarily
created a global knowledge for lithium,
therefore being a true crossover
element. Management plans to
commence operations on this new project
shortly.”
According to a
Canaccord Genuity report issued May 17,
2016 “We forecast the lithium market to
grow by 81% to 347kt lithium carbonate
equivalent (LCE) by 2020, and by 259% to
687kt LCE by 2025, representing a CAGR
of 14% across all demand sectors. We
anticipate Li-ion battery-based electric
vehicles (passenger vehicles &
electric buses) to be a key driver of
demand over the next decade, accounting
for 38% of all lithium demand by 2025
(from ~6% in 2015). Similarly, we also
anticipate significant demand for
lithium from the grid storage sector,
which we forecast will account for 13.6%
of all demand by 2025.”
Sienna has also just
recently acquired the “Esmeralda Lithium
Project” also in the Clayton Valley of
Nevada (April 15, 2016).
Management will be
presenting at the 8th annual
Industrial Mineral Events Lithium Supply
and Market Conference in Las Vegas May
24-26. “As an exclusive and
one-of-its-kind gathering within the
lithium industry, running for the eighth
time, Lithium Supply & Markets will
once again welcome global industry
players from throughout the lithium
value chain. The chosen city, Las Vegas,
will prove the best location as it is
close to Tesla’s highly anticipated
Gigafactory as well as numerous lithium
mine projects in Nevada. Despite falling
prices for a range of commodities in
2015, the lithium market has stayed
positive. Moving into 2016, upward price
pressure is expected to continue with
supplies looking tight and demand set to
keep increasing.” Management is looking
forward to attending the world’s
preeminent lithium conference.
This forum will bring together the
majority of the global industry leaders
in the space and we are pleased to be
able to properly position the Sienna
story within this fast growing sector of
the resource world. Management will be
able to sit down directly with fund
managers, individual investors, regional
geological and hydrological experts and
other like-minded company managers.”
This new project consists of
60 contiguous claim blocks. This
project was acquired via staking.
Greg Thompson PGeo has
reviewed this news release.
If you would like to be added to
Sienna’s email list please send an email
to info@siennaresources.com
or our twitter account at
@SiennaResources
Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com
Jason Gigliotti
President, Director
Sienna Resources Inc.
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
