B&N Mining Company Advances Lida Valley Lithium Project with New Geophysical Results and Planned 2026 Drill Program
Tonopah, Nevada — [5/4/2026]
After three years of systematic exploration, B&N Mining Company LLC (“B&N” or the “Company”) is advancing the Lida Valley Lithium Project into a new phase of development, supported by the completion of a 2026 transient electromagnetic (TEM) survey and the announcement of a Phase 2 drill program.
The latest results provide new insight into basin geometry and identify previously untested targets at depth, marking a shift from early-stage exploration toward definition drilling and system expansion.
Key Highlights
TEM program completed across the LVL and EZ claim blocks, covering ~7,000 acres
Strong correlation between TEM anomalies and known lithium intercepts, including proximity to LVL25-07
Interpretation supports expanded basin depth potential and structural segmentation
Phase 2 drill program announced, targeting basin linkage, depth extensions, and resource definition
Project now positioned as a basin-scale lithium system spanning LVL, EZ, and Gemini claim blocks
Exploration Summary
Figure 1: Map of LVL drilling completed to date with select hole results highlighted
Since initiating exploration in 2023, B&N Mining has systematically advanced the Lida Valley Lithium Project from early-stage reconnaissance to a basin-scale exploration program supported by drilling, geophysics, and 3D geological modeling.
2023 — Initial Reconnaissance on the LVL Block
The Company completed its first reconnaissance drill campaign on the LVL claim block in 2023 to establish stratigraphic context and basin geometry. While lithium values encountered during this phase were below the 400-ppm cutoff and mineralized claystone thickness was limited, the program successfully defined key basin architecture, confirmed stratigraphic position relative to the target horizon, and materially refined drill targeting. These results directly guided the design and placement of subsequent drill programs that led to the first confirmed lithium-bearing claystone intersections in 2024.
2024 — Confirmation of Lithium-Bearing Claystone
The 2024 drill campaign marked a pivotal advancement for the LVL Project, successfully intersecting laterally continuous lithium-bearing green claystone within the targeted stratigraphic horizon. Drilling demonstrated consistent grade and thickness across multiple sites, establishing a coherent geological framework for systematic step-out drilling and targeted land expansion. Subsequent publication of an Inferred Mineral Resource for the adjacent Gemini project in a NI 43-101 Technical Report — totaling approximately 7,127,476 tonnes of lithium carbonate equivalent (LCE) at a 400 ppm lithium cutoff — further strengthened the interpretation of a large, contiguous lithium clay system extending across the broader Lida Valley structural corridor. When integrated with gravimetric data, the results indicated southward continuation of the mineralized system and suggested structural connectivity between the LVL and Gemini basins through a potential lithium-bearing “bridge” zone.
2025 — Expansion Through EZ Block Acquisition and Continued Drilling
Acting on the insights from 2024, In March 2025, B&N Mining expanded its land position through the acquisition of the EZ Block, located south of the original LVL claims and Gemini Project. The EZ Block comprised of approximately 6600 acres covering 323 unpatented mining claims, extending control across the western portion of the valley and securing the southern extent of the LVL structural basin. During the 2025 drilling program, drill holes LVL25-01 through LVL25-06 further defined the lateral extent of lithium-bearing claystone and constrained the eastern boundary of the shallow mineralized system. Two additional drill holes drilled in early fall 2025, LVL25-07 and LVL25-08, also intersected lithium-bearing green claystone, with assays pending for LVL25-08.
2025 — Acquisition of the Gemini Project and Deep Basin Context
In mid-2025, B&N Mining acquired the Gemini Project, comprising approximately 4500 acres covering 223 unpatented mining claims, along with a dataset of five deep historical drillholes completed between 2022 and 2023 and multiple geophysical surveys. The Gemini drillholes demonstrate exceptionally thick lithium-bearing claystone developed within deeper structural lows of the same Lida Valley Basin system, providing important depth context to the shallower LVL and EZ results. Following acquisition, B&N Mining drilled GEM25-06 and GEM25-07 in fall 2025. Both holes encountered substantial claystone intervals; assays are pending.
2026 TEM Program Results
Figure 2: Image of all geophysics recorded on the LVL property to data including the 5 2026 lines in 3D looking NW
The 2026 TEM survey was designed to refine subsurface geophysical patterns associated with lithium-bearing claystone units and to improve drill targeting across underexplored portions of the basin.
Survey lines were oriented to capture both northwest–southeast and northeast–southwest structural trends, aligning with known basin-controlling fault systems. The program successfully identified multiple zones interpreted to represent clay-rich lacustrine sequences, consistent with the Company’s geological model.
Importantly, several of these anomalies:
Occur below the depth of prior drilling
Extend laterally into previously untested areas
Show strong alignment with zones identified in the neighboring Gemini project, where drilling has confirmed thick, high-grade lithium intervals
The Company notes that similar responses to the TEM survey at Gemini correspond to drill-confirmed lithium-bearing claystone, supporting the interpretation that the eastern basin of LVL remains under-drilled at depth.
Updated Geological Interpretation
Integration of TEM data with existing drilling, gravity data, and 3D modeling has resulted in a refined geological model of the Lida Valley basin.
Regional studies indicate the basin is structurally complex, characterized by fault-controlled segmentation and variable basin depths, including deeper sub-basins capable of hosting thicker sedimentary sequences
The updated interpretation identifies:
A segmented basin architecture, with distinct northern and southern domains
Structural controls on lithium deposition and preservation
Potential for significantly thicker lithium-bearing clay sequences at depth, particularly in areas not yet tested by drilling
The primary target remains the green lacustrine claystone unit (Gc/Gtf), which hosts lithium mineralization across both LVL and Gemini and represents the core exploration focus
To date, drilling at LVL has largely tested the upper portions of the basin, while deeper conductive zones identified by TEM remain untested.
In addition to identifying conductive zones consistent with lithium-bearing claystone, preliminary modeling of the TEM data has highlighted deeper anomaly horizons, below the lithium clay horizon, within the basin that may represent fluid-bearing zones. While these features remain untested, they introduce the possibility of additional lithium-bearing environments at depth, including potential lithium-bearing brine systems. These targets will be evaluated as part of the Company’s Phase 2 drilling program.
Phase 2 Definition Strategy
Following the successful completion of the TEM program, B&N has initiated a Phase 2 definition strategy aimed at advancing the project toward an initial resource estimate.
Key objectives include:
Establishing continuity between the LVL and Gemini basins
Expanding known mineralization into step-out targets
Testing deeper basin zones identified through geophysics
Advancing toward Inferred Resource classification across the core project area
Drill spacing and targeting will be designed to support resource definition while continuing to expand the overall footprint of lithium mineralization.
2026 Drill Program
The Company is planning a multi-hole drill campaign in 2026 focused on high-priority targets generated from the integrated geological and geophysical model.
The program is expected to include:
Step-out holes to expand known lithium-bearing zones
Bridge holes to link LVL and Gemini mineralization
Deeper drill holes designed to test conductive zones identified by the TEM survey
Planned drilling depths are expected to extend beyond previous campaigns, targeting the full vertical extent of the basin.
Final drill collar locations are currently being refined.
Chief Geologist Commentary
Liam Eades, Chief Geologist for the Lida Valley Lithium Project, stated:
“The results from our 2026 TEM program represent a significant step forward in our understanding of the Lida Valley basin. The newly identified conductive targets at depth are highly encouraging and align with our broader geological model of a structurally controlled lithium-bearing system.”
“What is particularly compelling is that the overall structural setting we are seeing at Lida Valley is consistent with other major clay-hosted lithium projects across Nevada. The presence of deeper sub-basins and fault-controlled depocenters suggests strong potential for thicker and more continuous lithium-bearing clay sequences than what has been tested to date.”
“This next phase of drilling is a major step for the project. We are now moving beyond shallow definition and into testing the full vertical extent of the basin. Targeting these deeper zones has the potential to materially expand the scale of the system.”
“In addition, advancing drilling to link the LVL and Gemini basins is a key milestone. Demonstrating continuity between these zones would further support the concept of a unified, basin-scale lithium system and significantly enhance the overall project potential.”
Strategic Positioning
The Lida Valley Lithium Project now represents a consolidated, basin-scale lithium exploration opportunity in one of Nevada’s most prospective lithium regions.
With control over the LVL, EZ, and Gemini claim blocks, the Company has assembled a large, contiguous land position covering a significant portion of the basin.
The integration of:
Historical drilling
Recent drilling campaigns
Advanced geophysics
3D geological modeling
positions the project for systematic advancement toward resource definition and potential future development.
About B&N Mining Company LLC
B&N Mining Company LLC is a Nevada-based mineral exploration company focused on the discovery and development of lithium resources in the Walker Lane region. The Company’s flagship Lida Valley Lithium Project targets clay-hosted lithium mineralization within a structurally controlled basin system.
Forward-Looking Statements
This press release contains forward-looking statements regarding exploration plans, geological interpretations, and potential resource development. These statements are based on current expectations and are subject to risks and uncertainties, including but not limited to drilling results, geological variability, and market conditions. Actual results may differ materially from those anticipated.
