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Belmont secures water rights permit at Kibby Basin lithium project

Belmont Resources Inc. said March 21 that it was granted water rights at its 2,056-hectare Kibby Basin lithium property in Nevada.

The permit allows the company to extract up to 2,895.88 acre-feet per year of groundwater for brine processing and producing lithium compounds.

The permits are open-ended, firm water rights. The first proof of completion of work is due in two years, and the first proof of beneficial use is due in five years.

MGX Minerals Inc. holds a 25% interest in the Kibby project and can increase it to 50% by spending a further C$300,000 on exploration and becoming the operator.