ENRT has completed a maiden resource estimate for its West Tonopah lithium project in Nevada, totaling 657 Kt LCE (lithium carbonate equivalent), averaging 674 Li. Relative to other lithium projects in the Americas, we believe this resource offers modest tonnage yet attractive grades.

West Tonopah is located next to American Battery Technology’s (NASDAQ: ABAT) Tonopah Flat project, which hosts resources totaling 16 Mt LCE (561 ppm Li), and is within a mile of American Lithium’s (TSXV: LI) TLC lithium project, hosting 10+ Mt LCE (792 ppm Li). ABAT was recently awarded a $57M grant from the U.S. Department of Energy. We see government support as an encouraging sign for lithium juniors in the region.