The property is on federal lands, and is comprised of 44 association placer claims the majority of which are 80 acres. In total the prospect is around 3400 acres. Big Smokey Valley is a Tertiary through Quaternary unconsolidated sediment filled basin, with geothermal fluids common in range bounding faults, and/or faults within the basin. The basin is filled with sediment weathered from the Toiyabe Range to the west and Toquima Range to the east.
First pass lithium exploration work has been conducted at North Big Smokey, first commencing in 2010. The Company originally was drawn to this playa after a Nevada-wide reconnaissance sediment sampling program determined that the clayey sediments in the valley hosted anomalous lithium mineralization. The highest lithium value in sediments returned 500 ppm, and ten samples were greater than 200 ppm. The sediment sampling was followed by a short gravity geophysical survey, claim staking and sub surface brine sampling that returned values up to 10 mg/L Li from the immediate subsurface, and loosely defined a North Westerly trending structure. The Company has determined that the junction of the Northwesterly structure, and the Northeasterly basin is a prime exploration target. The structural attributes here are analogous to the setting at Rockwood/Albermarle’s producing brine field in Clayton Valley. As is the case at Clayton Valley lithium concentrations in brines and sediments at North Big Smoky can be reasonably expected to increase at depth.
Lithium Corporation staked a 4000 acre block of lithium claims in early 2016, and subsequently sold the property to 1069934 BC Ltd. The company retains a 2.5% Net Smelter Royalty on the property through Lithium Corporation's wholly owned subsidiary Lithium Royalty Corp.