PALM BEACH, Florida, May 9, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The global lithium market continues to be one of the more active industries across the board as increasing attention in lithium and cobalt explode behind rising demand and impressive mining operations and results. Venture capitalists have turned their focus towards the lithium industry of late and have been placing enormous bets the demand will continue for lithium-ion (Li-ion) batteries. These high-tech batteries are capable of powering everything from smart phones and power tools to electric vehicles. Demand for lithium is certain to surge as vehicles become greener, new devices flourish and electricity becomes cleaner. Unabated demand and material shortages have driven up prices and sparked a global quest for mining of lithium. According to a study completed by Variant Market Research, the global lithium market is projected to reach $56 billion within six years, illustrating a CAGR of more than 10%. INN Daily reported the global lithium demand is projected to triple by 2025 as electronic vehicles become more prevalent and mainstream. Long story short, lithium is poised to remain an ultra-high-demand resource for decades to come. Active companies in the mining markets today include: QMC Quantum Minerals Corp. (TSX-V:QMC) (OTC:QMCQF), Standard Lithium Ltd. (TSX-V:SLL) (OTC:STLHF), Advantage Lithium Corp. (TSX-V:AAL) (OTC:AVLIF), MGX Minerals Inc. (CSE:XMG) (OTC:MGXMF), Albemarle Corp. (NYSE:ALB).
QMC Quantum Minerals Corp. (TSX-V:QMC) (OTC:QMCQF) BREAKING NEWS: QMC is pleased to disseminate the historical assay results reported (Manitoba AR #94932) by the Lithium Corporation of Canada ("LCOC"). These historical assays were obtained during LCOC's 1956 channel sampling of the Irgon Dike where it is exposed underground in crosscuts on the 200-foot level. The Irgon Dike is located at the company's 100% owned Irgon Lithium Mine Project, within the prolific Cat Lake-Winnipeg River Pegmatite Field of S.E. Manitoba which also hosts the nearby TANCO rare-element pegmatite.
The underground workings can be viewed in the 3-D model released by QMC on March 28, 2018, which demonstrates that, to date, exploration and underground development has been only undertaken on the upper and central portions of dike leaving significant potential to quickly increase tonnage as the Irgon Dike is open both along strike and to depth. The 2017 channel sample locations and surface exposure of the dike are also indicated on the model.
As reported in the LCOC Assessment Report, during the period of 1955-1956 underground development was established on the Irgon Dike to confirm both the mineralization at depth and the currently non-NI43-101 compliant ore reserves (1.2M tons @1.51% Li2O) calculated by LCOC from the historic drilling. This drifting was accessed via the vertical 3-compartment production shaft that was sunk to a depth of 241 feet by the Lithium Corporation of Canada. Off the 200-foot level of the shaft, 1,120 feet of drifting parallel to the dike was excavated with seven crosscuts (361 feet) cutting back through the Irgon Dike. During this development, the dike was channel sampled across these seven crosscuts with Li2O assays of the crosscut channel samples performed by the Department of Mines, Ottawa. Results of this sampling program are shown in Table 1 seen by clicking the link below. The underground workings are currently inaccessible as they are flooded and the shaft was capped by a cement slab in 1956. The LCOC's geologic map of the underground workings and accompanying assay results are posted on the QMC website (https://qmcminerals.com ).
See a table of Historic Results of LCOC's 1956 Underground Channel Sampling of the Irgon Dike on the 200 Foot Level Crosscuts and read more news for QMC Quantum Minerals at http://www.marketnewsupdates.com/news/qmc.html
In other Lithium mining industry news and developments:
Standard Lithium Ltd. (TSX-V:SLL.V) (OTCQX:STLHF) recently announced that Hasbrouck Geophysics Inc. has successfully completed a large-scale gravity geophysical survey at the Company`s Cadiz Dry Lake Project, in the Mojave area of California. The Cadiz Dry Lake Property is located approximately 20 km southeast of the Company`s Bristol Dry Lake Property and is currently permitted for brine extraction and processing activities. The work has defined an infilled basin with a maximum depth of just over 700 m beneath the Project area. Dr. Andy Robinson, COO and President of Standard Lithium commented: "The results from this high quality geophysical survey are very encouraging. This work has defined a closed basin with infill deposits that are known to host lithium brines, based on preliminary sampling of extraction wells operated by the permitted producer. Standard Lithium`s excellent relationship with the Project`s permitted operator will allow for further exploration of the deeper basin infill deposits under the existing permitted brine operations. This successful and rapid acquisition of high quality gravity survey data from our Cadiz Dry Lake Project will be used to plan additional resource assessment work at Cadiz for the remainder of 2018."
Advantage Lithium Corp. (TSX-V:AAL.V) (OTCQX:AVLIF) recently announced it has engaged WorleyParsons Chile S.A. (WP) to complete a Preliminary Economic Assessment (PEA) on its flagship Cauchari Project in Jujuy, Argentina based on phase II results with an expected increase to its resource base which will be released this month. The PEA scope includes a standalone plant in the range 15 -20 Ktpa final lithium product and is scheduled for completion in July 2018. In addition, to move rapidly to an extraction resource and advance through to Definitive Feasibility Study (DFS) completion, Advantage Lithium also announces it has contracted an internationally recognised drilling company with experience in deep drilling in the Puna region and has initiated its 2000m Phase III drill program. This program has been designed to define the resource limits of the Cauchari salar with drilling equipment capable of reaching depths of greater than 600m.
MGX Minerals Inc. (CSE:XMG.CN) (OTCQB:MGXMF) on Tuesday announced it has acquired an additional 10,331.32 acres of Oil and Gas Leases ("Leases") located within the Company's unitized 80,380-acre Blueberry Unit ("Blueberry Unit"). The newly acquired leases are located within the proposed 3D seismic geophysical survey area, which is scheduled to commence in August and will include approximately 9,000 data points. The Blueberry unit (oil, gas and lithium) and Lisbon Valley claims (lithium) now consist of approximately 115,000 acres of oil and gas leases and 118,000 acres of largely overlying and contiguous mineral claims. Brine content within the Lisbon Valley oil field have been historically reported as high as 730 parts per million lithium (Superior Oil 88-21P). To date the Company has conducted a paleontology survey and is nearing completion of the archeological survey. Under terms of the Purchase and Sale Agreement (the "Agreement"), MGX has the option to earn a Net Revenue Interest ("NRI") on 9,158.4 gross/net acres within the Company's area of mutual interest.
Among the world's major lithium producers, Albemarle Corp. (NYSE:ALB) is the largest and derives nearly 39 percent of its total revenue from lithium sales. Long a global leader in the specialty chemical business, Albemarle's lithium business segment mines lithium and converts it into different forms along the value chain, such as lithium carbonate and lithium hydroxide, or value-added specialties such as butyl lithium and lithium aluminum hydride. Many believe Albemarle won't have any problem increasing lithium production for the foreseeable future. It has developed a new extraction technology that can double lithium production from its assets in Chile -- where the majority of its output originates -- with minimal changes to the overall process.
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