PALM BEACH, Florida, January 10, 2018
PALM BEACH, Florida, January 10, 2018 /PRNewswire/ --
While the demand for electric vehicles increases over the coming decades, so, too, will the price for the raw materials required to produce them. Escalating demand for elements such as lithium and cobalt is believed by many industry professionals that it will lead to potential supply bottlenecks over the next several years. Lithium and cobalt are two obscure metals that are key ingredients in batteries that will be used for not only electric vehicles but also many household appliances as well as both residential and utility power storage for renewable energy sourced from wind and solar. Refined lithium/cobalt products generated incredible growth for some of the largest miners in the world in 2017. Given the recent momentum and near-term plans for expansion from the largest lithium/cobalt producers on the planet, 2018 could be poised for more of the same type of growth. Today's active miners with current developments in the market include: LiCo Energy Metals Inc. (OTC: WCTXF) (TSX-V: LIC), Lithium Americas Corp. (OTC: LACDF) (TSX: LAC), Glencore plc (OTC: GLNCY) (LSE: GLEN), Sociedad Química y Minera de Chile S.A. (NYSE: SQM), Katanga Mining Limited (OTC: KATFF) (TSX: KAT).
LiCo Energy Metals Inc. (OTCQB: WCTXF) (TSX-V: LIC.V) is pleased to report assay results for drill holes GB17-11 through to GB17-14, GB17-20, and GB17-21, completed on the Glencore Bucke Property, located 6 km northeast of Cobalt, Ontario.
A summary of the most significant results of the recent drill core assays are:
• GB17-13 0.92% Co over 2.0 m from 34.00 to 36.0 m, including 2.53% Co over 0.6 m from 35.1 to 35.7m.
• GB17-13 0.46% Co, 132.5 ppm Ag, 1.46% Cu over 0.9 m from 77.6 to 78.5 m, including 0.79 % Co, 221.0 ppm Ag, 2.40% Cu over 0.4 m from 77.6 to 78.0 m.
• GB17-13 0.32% Co, 98.8 ppm Ag, 0.81% Cu over 1.5 m from 100.5 to 102.0m, including 0.55% Co, 16.9 ppm Ag, 0.50% Cu over 0.6 m from 100.8 to 101.4 m.
• GB17-20 0.44% Co, 19.4 ppm Ag 0.99% Cu over 4.05 m from 60.25 to 64.30 m, including 1.42% Co, 48.8 ppm Ag, 1.94% Cu over 1.2 m from 62.8 to 64.0 m.
• GB17-21 0.08% Co, 18.1 ppm Ag, 1.25% Cu over 6.1 m, including 0.73% Co, 50.0 ppm Ag, 1.31% Cu over 0.6 m from 69.7 to 70.3 m.
"We are very pleased with the drill program continuing to intersect the higher grade cobalt mineralization that has been intersected at Glencore Bucke property," says Tim Fernback, President & CEO of LiCo and "not only have we continued to intersect cobalt mineralization, but also the base metal mineralization that has the potential to be advantageous when a resource estimate will be completed in the future".
On the Glencore Bucke Property, the Company has completed a total of 21 diamond drill holes totaling 1,900 m, testing the Main and Northwest zones. The Company will continue to release results from the Glencore Bucke and Teledyne drill programs as they are received.
The results for diamond drill hole GB17-11 through to GB17-14, GB17-20, and GB17-21 are summarized in Table 1 that can be seen at: http://www.marketnewsupdates.com/news/wctxf.html
As reported on the Company's November 30th, 2017 news release, LiCo has recently completed its 2017 diamond drilling program on its Teledyne and Glencore Bucke Properties completing a total of 32 diamond drill holes, drilling 4,100 m of core. This exploration work satisfies both its flow-through financing obligations and the contractual obligations outlined in the recently acquired Glencore Bucke Property from Glencore plc of Baar Switzerland (LSE: GLEN).
In other mining industry news and developments:
Lithium Americas Corp. (OTCQX: LACDF) (TSX: LAC.TO) announced recently that it now meets the share price history threshold requirement to list the Company's shares on the New York Stock Exchange ("NYSE"). As a result, the Company intends to list directly on the NYSE and will not be undertaking a NYSE American listing as an intermediary step. The Company has applied to the NYSE and expects to be listed in January 2018 upon receipt of formal approval from the NYSE. Lithium Americas, together with its joint venture partner, Sociedad Quimica y Minera de Chile S.A., is developing the Cauchari-Olaroz lithium project, located in Jujuy, Argentina, through its 50% interest in Minera Exar S.A. In addition, Lithium Americas owns 100% of the Lithium Nevada project, and 100% of RheoMinerals Inc., a supplier of rheology modifiers for oil-based drilling fluids, coatings, and specialty chemicals.
Glencore Plc (OTC: GLNCY) (LSE: GLEN.L) recently announced it has completed the sale of a 51% interest in HG Storage International Limited (HGSI) to HNA Innovation Finance Group Co., Limited (HNA), a transaction which was announced on 31 March 2017. HGSI is a new vehicle which has consolidated Glencore's petroleum products storage and logistics businesses into a global portfolio of high-calibre assets, located in strategic trading hubs across Europe, Africa, the Middle East and the Americas. Glencore and HNA have also entered into a second agreement pursuant to which three of the original transaction assets located in the USA will be transferred into HGSI in 2018, subject only to receipt of satisfactory CFIUS clearance.
Sociedad Química y Minera de Chile S.A. (NYSE: SQM) Developments: According to the online publication Mining Weekly, Chile-focused lithium junior Lithium Chile has revamped itself to better align its corporate image with its aspiration of becoming a go-to lithium producer in the country - the world's largest and lowest-cost producer of the energy metal. Based in Vancouver, Lithium Chile shareholders voted in December to change the company's name from Kairos Capital and to examine the potential to spin out the company's latent copper/gold asset portfolio into a standalone entity. Read the entire article here.
Katanga Mining Limited (OTC: KATFF) (TSX: KAT.TO) closed up .43% on Tuesday with over 3.1 million shares traded. Katanga Mining Limited, through its subsidiary, Kamoto Copper Company SA, engages in the copper and cobalt mining and related activities in the Democratic Republic of Congo. It is involved in the exploration, mining, refurbishment, rehabilitation, development, and operation of the Kamoto/Mashamba East mining complex; the Kamoto Oliveira Virgule copper and cobalt mine; T17 open pit and T17 underground mines; various oxide open pit resources; the Kamoto concentrator; and the Luilu metallurgical plant.
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