PALM BEACH, Florida, November 8, 2017 /PRNewswire/ --
Ramp up in Lithium-ion battery production due to rapidly grown global demand has driven lithium prices to an all time high. Leaders in the lithium mining markets are aiming to capitalize on this momentum via expansion of mining operations to advance extraction efforts. According to research group Freedonia Group, World Lithium growth will be driven by rapid expansion in the lithium-ion battery industry as world demand for hybrid and electric vehicles, energy storage systems, and high-drain portable electronics continues to grow. The global demand for lithium metal is projected to rise 8.9 percent per year through 2019 to 49,350 metric tons. In lithium carbonate equivalent (LCE) terms, the value of the global lithium market is projected to reach $1.7 billion. Active companies in the markets include: NRG Metals Inc. (TSX-V: NGZ) (OTC: NRGMF), Nemaska Lithium Inc. (OTC: NMKEF) (TSX: NMX), Liberty One Lithium Corp. (OTC: LRTTF) (TSX-V: LBY), Lithium Americas Corp. (OTC: LACDF) (TSX: LAC), Advantage Lithium Corp. (OTCQX: AVLIF) (TSX-V: AAL).
NRG Metals Inc. (TSX-V: NGZ.V) (OTCQB: NRGMF) (Frankfurt OGPN), is pleased to announce that, further to its news releases of June 5, 2017 and October 16, 2017, it has received transaction approval from the TSX Venture Exchange (the "Exchange") for the Hombre Muerto North Project, Argentina. Pursuant to the Mining Exploration Agreement with Option to Purchase dated May 17, 2017, between the Company's wholly-owned subsidiary, NRG Metals Argentina S.A. and Mr. Jorge E. Moreno and Mrs. Alba Silvia Sala (together, the "Owners"), the Company will be issuing 1,000,000 common shares at a deemed value of $0.39 per common share and a cash payment of US$100,000 to the Owners. In addition, Mr. Moreno will be joining the board of directors of NRG Metals Argentina S.A. Mr. Moreno is a well established and highly respected businessman in Salta, Argentina. Read this and more news for NRG Metals at: http://www.marketnewsupdates.com/news/nrg.html
Highlights of the Hombre Muerto North Lithium Project Include:
- 20 surface samples collected in 2016-2017 range from 48 to 1,064 mg/L Li, averaging 587 mg/L Li, with seven samples over 800 mg/Li
- Magnesium to lithium ratios range from 1.1:1 to 10.2:1, averaging 4.6:1, which are low, a positive by industry standards.
- Geophysical data indicates zones of low resistivity, interpreted to be potential lithium-bearing zones that are open at depth.
- Adjacent to Galaxy Resources' Sal de Vida lithium development project and FMC Corp's long-time producing Fenix lithium brine operations.
NRG plans to conduct an exploration program to support a mineral resource estimate for lithium on the Project, and rapidly move to a development and production decision. An exploration drill program has been planned by the technical team, and will initially include up to eight diamond core holes. Following coring operations, large diameter (10- to 16-inch borehole diameter) rotary-drilled production wells (PW) will be installed at the same locations as the diamond drill holes for conducting pumping tests and estimating brine extraction rates for well field development. Anticipated depths for the core holes will range from about 30 to 400 meters, with 400 meters as a maximum. The depth of the production wells will be determined based upon the results obtained from the diamond drilling.
In other industry news and developments:
Nemaska Lithium Inc. (OTCQX: NMKEF) (TSX: NMX.TO) last week announced an update on the lithium hydroxide production coming from its Phase 1 Plant. Nemaska Lithium has produced an inventory of lithium sulfate from spodumene concentrate coming from the Whabouchi Mine. The processing of this lithium sulfate into battery grade lithium hydroxide commenced last week at the Phase 1 Plant. The first tonne of this lithium hydroxide is expected to be shipped to a customer in November 2017. This milestone will mark the beginning of the qualification of Nemaska Lithium as a new supplier of lithium salts for the lithium ion battery market. In addition, Nemaska Lithium has shipped another 4 tonnes of battery grade lithium hydroxide derived from a customer's lithium sulfate solution as the source of raw material. To date, Nemaska Lithium has produced and delivered 24 tonnes of battery grade lithium hydroxide for this customer who is using the lithium hydroxide in the production of cathodes for lithium ion batteries.
Liberty One Lithium Corp. (OTCQB: LRTTF) (TSX-V: LBY.V) recently announced that drilling has commenced at its Pocitos West property in Northern Argentina. The operational team moved quickly to secure and mobilize a drilling rig and all related equipment. Commensurate with the Company's focus on its strong leadership team, the Company has deployed to site Monty McNeil, the Company's Senior Engineering and Operations Manager. With operations underway, on-site determination by the team will assess initial findings from the brine samples at specific depths, as defined by geophysics and drill hole logging. If warranted, the team may elect to case the primary well for monitoring, and drill an adjacent rotary/core hole for pumping tests. Once the initial well is at depth and down-hole geophysics logging and depth-specific packer sampling have been completed, the drilling equipment will be moved to the second target to undertake preliminary wide-area sampling of the salar basin characteristics.
Lithium Americas Corp. (OTCQX: LACDF) (TSX: LAC.TO) recently announced an update on the Lithium Nevada Project (the "Lithium Nevada Project") located in Nevada, USA. The Company is developing the 100% owned Lithium Nevada Project, a clay-based lithium resource in the McDermitt Caldera, through its wholly owned subsidiary, Lithium Nevada Corp. ("Lithium Nevada"). Building on years of exploration and testing, a Preliminary Feasibility Study (the "PFS") on the Lithium Nevada Project is expected to be complete by the end of Q2 2018 to demonstrate the economic potential of producing lithium hydroxide from lithium-bearing claystone. Lithium Americas has assembled a technical team that includes engineering alumni from several major industry participants, in addition to highly trained and experienced mining permit specialists and exploration and mining geologists. To manage the Lithium Nevada Project's development, Lithium Americas has appointed Alexi Zawadzki as the President of North American Operations who will work alongside Dr. David Deak, President of Lithium Nevada and Chief Technical Officer of Lithium Americas. Alexi has over 20 years of experience developing and constructing mining and energy projects across North and South America, in addition to the management of technical teams and business units.
Advantage Lithium Corp. (OTCQX: AVLIF)(TSX-V: AAL.V) provide this update on the first sample results from CAU07 and CAU16 in the previously undrilled NW Sector of the Cauchari JV property located in Jujuy Province, Argentina. President & CEO Mr. David Sidoo commented: "Initial high grade results of 635 and 619 mg/l Lithium amid a thick sequence of sandy sediments in the NW Sector confirm the potential of this highly prospective area to be a fast track lithium development project. Additional drilling will be planned to follow up CAU07 and CAU16 to conduct systematic sampling and define new resources in this area which is located immediately south of the Orocobre Olaroz project and adjacent to the SQM/LAC brine resource. This is very positive news for the scoping study planned on this project which will commence in 2018." Mr. Sidoo further commented "Results of this caliber, will allow us to consider the most appropriate and fastest path to production with existing infrastructure and access to suppliers and contractors who have worked on South America's two most recent lithium projects".
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