Power Metals Corp. (" Power Metals " or the " Company ") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce that two drill holes have intersected high-grade Li and Ta (Lithium and Tantalum) mineralization on the Main Dyke at the Company's 100% owned Case Lake property in Cochrane, Ontario .
The lithium mineralization is spodumene on the Main Dyke. Coarse-grained green spodumene and fine-grained white spodumene occur in the inner intermediate zone of the Main Dyke with quartz and feldspars.
Johnathan More , Chairman & CEO of Power Metals, commented "We continue to hit impressive numbers on our ongoing drill program. This deposit is at surface and enjoys extremely favorable logistics relating to accessibility and already in place infrastructure. Additionally, we are awaiting on more assays from the lab and are excited to release them when they are available."
Assay highlights on Main Dyke include (Table 1):
Drill holes are oriented perpendicular to the strike length of the pegmatite, so mineralization is close to true width.
Exploration drill hole PWM-22-136 is located 514 m east of the Li-Cs-Ta West Joe Dyke along strike. This exploration hole intersected the outermost pegmatite zones with high grade Ta mineralization (193 and 215 ppm Ta) (Table 1). Additional drill holes will be drilled around it to try to find the lithium mineralization which should be associated with the Ta mineralization to expand the lithium mineralization at West Joe.
Power Metals 2022 summer drill program is for 5000 m and over 2700 m has been completed to date. This press release reports assays received to date from drill hole PWM-22-134 and 135 on the Main Dyke and exploration drill hole PWM-22-136 514 km east of West Joe Dyke. The purpose of each drill hole on the Main Dyke was to infill on known mineralization to aid in a future resource estimate. The purpose of the exploration hole is to expand the lithium mineralization at West Joe. Assays pending will be released once received.
Drill hole collar coordinates are given in Table 2.
The drill core was sampled so that 1 m of the Case Batholith tonalite host rock was sampled followed by 1 m long samples of the pegmatite dyke and 1 m of the Case Batholith. The sampling followed lithology boundaries so that only one lithology unit is within a sample, except for the Cochrane by Power Metals' geologists. The core was prepared at SGS Garson and analyzed at SGS Burnaby, British Columbia which has ISO 17025 certification. Every 20 samples included one external quartz blank, one external lithium standard and one core duplicate. The ore grade Li 2 O% was prepared by sodium peroxide fusion with analysis by ICP-OES with a detection limit of 0.002 % Li 2 O. A QA/QC review of the standards and blanks for this drill program indicate that they passed and the drill core assays are accurate and not contaminated.
Case Lake Property is located 80 km east of Cochrane , northeastern Ontario close to the Ontario - Quebec border. Case Lake Property consists of 585 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake Mining Division. The Property is 10 km x 9.5 km in size with 14 identified tonalite domes. The Case Lake pegmatite swarm consists of six spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome and the West Joe Dyke on a new tonalite dome. The Case Lake Property is owned 100% by Power Metals Corp. A National Instrument 43-101 Technical Report has been prepared on Case Lake Property and filed on July 18, 2017 .
Julie Selway , Ph.D., P.Geo. supervised the preparation of the scientific and technical disclosure in this news release. Dr. Selway is the VP of Exploration for Power Metals and the Qualified Person ("QP") as defined by National Instrument 43-101. Dr. Selway is supervising the exploration program at Case Lake. Dr. Selway completed a Ph.D. on granitic pegmatites in 1999 and worked for 3 years as a pegmatite geoscientist for the Ontario Geological Survey. Dr. Selway also has twenty-three scientific journal articles on pegmatites.
Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high quality mining projects. We are committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. We see an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries. Learn more at www.powermetalscorp.com
ON BEHALF OF THE BOARD,
Johnathan More , Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States , or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com .
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The TSXV has neither reviewed nor approved the contents of this press release.
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Winsome Resources Limited (ASX: WR1; “Winsome” or “the Company”) is pleased to announce high grades of lithium mineralisation have been confirmed from laboratory assay results following the recent field exploration program at the Company’s Adina project in Quebec.
The results in Table 1 confirm high-grade lithium rock chips, with the highest grade 4.89% lithium oxide (Li2O), with other significant high-grade results recorded, including 10 of the 26 samples over 2% Li2O
The recently discovered pegmatite outcrops, labelled as the Jamar Discovery in Figure 1, appear to be hosted in a basalt unit and are located approximately 1.2km to the NE of the previously drilled mineralised pegmatites at Adina.
Winsome’s Managing Director Chris Evans said:
“The assay results from these rock chip samples provide the Company with great confidence ahead of the upcoming autumn drilling campaign.”
“These exceptional results, of up to 4.89% Li2O, demonstrates the extent of lithium mineralisation at Adina is much larger than previously thought.”
“The results confirm the effectiveness of our current exploration strategy which has defined multiple drilling targets for the upcoming drilling campaign.”
“This offers a great opportunity to develop a maiden resource at Adina, while simultaneously advancing Cancet and our other existing projects in the region.”
Winsome has submitted and received permits for drilling, which is anticipated to commence early next month.
The drilling program is designed to infill drill the previously drilled mineralised pegmatite ore body at Adina, as well as drill the new Jamar Discovery and investigate the ground in between to determine if the ore bodies are connected.
The planned hole locations for the upcoming drilling program are highlighted by the white dots in Figure 3 below. The drill program is expected to take about six weeks to complete with a Diamond drill rig which is heli-portable.
Continued exploration success at Adina would increase the prospect of co-development with Winsome’s nearby flagship Cancet lithium project, which lies approximately 90 km to the west.
This offers a rapid path to define more resources towards production, with existing road infrastructure in the region connecting Cancet to mining and transport centres to the south.
Click here for the full ASX Release
This article includes content from Winsome Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Europe is one of the fastest growing electric vehicle (EV) markets in the world, and for that reason its need for battery raw materials is forecast to increase in the coming years.
The European Union has been making moves to reduce carbon emissions, setting regulations and goals for the region, and the electrification of transportation has a crucial role in its plans.
At this year’s Fastmarkets European Battery Raw Materials conference, held in Barcelona from September 20 to 21, analysts, executives and market participants discussed the role Europe will play in the critical minerals supply chain; they also spoke about future demand and the constraints of domestic supply.
Here the Investing News Network looks at five themes investors should watch in the region.
Similar to North America, Europe is moving ahead with a push to secure supply of key metals used in EV batteries, including lithium, cobalt and graphite. Exploration and development projects are underway in the region, with some even looking at new technologies to bring fresh supply online.
However, at present, Europe’s local production of battery metals is very small in comparison to what it needs to meet its own needs. That’s why a key question remains: Where will it source its raw materials in the coming years?
“We see Europe requiring close to 800,000 tonnes of battery-grade lithium chemicals by 2030,” Infinity Lithium (ASX:INF) CEO Ryan Parkin said during a panel. “Today there's close to 700,000 tonnes globally. So there's going to be some fair challenges as we move forward within Europe to secure key raw materials and downstream conversion capacity.”
If there’s one theme that continues to come up in the battery raw materials space, it is how regulation can support — or not support — the buildout of supply chains. For the upstream sector, permitting continues to be a challenge, with mining projects being halted for months before being given the green light, if they are at all.
In Europe’s battery metals sector, a prime example is Rio Tinto’s (ASX:RIO,LSE:RIO,NYSE:RIO) US$2.4 billion Jadar lithium project in Serbia, which the government blocked after massive environmental protests. Europe is soon to announce its Critical Raw Materials Act, and the expectation is that regulations for mining projects will be in focus.
“Europe is very underexplored. So there are plenty of opportunities for raw materials to be found in Europe and elsewhere,” Massimo Gasparon of the European Raw Materials Alliance said. “So the supply itself is not the problem, the problem is the permitting, and that needs to be addressed and hopefully will be addressed in the (Critical Raw Materials) Act.”
Even though China’s share of mining might not be huge, it currently dominates the refining space, with about 75 percent of lithium refining capacity located in the Asian country.
But the midstream sector is growing in Europe. Green Lithium is building one of the first lithium refining plants in the UK, while Luxembourg-based Livista Energy is outlining plans to build standalone lithium conversion facilities in the region.
For Akanksha Middya, head of supply chain and operations strategy at battery manufacturer Britishvolt, there are two main challenges to consider in this growing sector: research and development and actual manufacturing capabilities.
“It's about being very agile and scalable when it comes to specific requirements for the (original equipment manufacturers), as a lot of that is still very much in flux,” she said.
ESG standards have been top of mind for investors, with the emphasis on ESG increasing steadily in recent years — and battery metals mining projects are no exception.
“ESG, literally, is number one on the list,” Orion Resource Partners' Philip Clegg said during a panel discussion. “We don't do anything these days without ensuring that it is international best practise.”
In Europe, there’s still work to be done in terms of measuring progress and providing a methodology to follow.
“I think it is much needed in Europe to have this methodology in place, and mainly confidence that what we measure is comparable with the global standard as well, and … hopefully not only greenwashing,” said Ilka von Dalwigk, policy manager at EIT InnoEnergy and the European Battery Alliance.
Recycling will also play a big role in the battery metals space, just not quite yet. The reality is that currently recycling is still in its early stages, but by the next decade it could be supplying most of the new demand for battery metals.
Finally, in order to get enough supply, there’s one thing Europe won’t be able to escape — the need for strategic investment.
“No one wants to invest into something that might not happen. So there needs to be a certain level of certainty when it comes to the permitting,” Gasparon said. “Not only certainty, but also things need to happen much faster than what’s happening right now.”
Investing in Europe is very different from investing in Canada, in the US, in Australia and in other emerging markets, Clegg said.
“The thing that everybody thinks about when investing in Europe is ESG,” he said. “Can we actually get this done? And the question actually just pervades everything that you look at when you have an opportunity. Because even when, and if, you have got permits in Europe, you still might not have the social license to operate.”
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Infinity Lithium is a client of the Investing News Network. This article is not paid-for content.
As lithium demand continues to increase due to its key role in the lithium-ion batteries used to power electric vehicles, it’s important for investors interested in the mineral to look at the different types of lithium deposits around the world.
Lithium is mined from three types of deposits: brines, pegmatites and sedimentary rocks. Global lithium reserves are estimated at 22 million metric tons (MT), and continental brines and pegmatites are the main sources for commercial production.
A University of Michigan study published in the Journal of Industrial Ecology explains, “The feasibility of recovering lithium economically from any deposit depends on the size of the deposit, its lithium content … the content of other elements and the processes that are used to remove the lithium-bearing material from the deposit and extract lithium from it.”
Lithium from brine deposits has gained more and more interest in recent years on the back of a veritable lithium rush in Nevada. This has largely been driven by Tesla’s (NASDAQ:TSLA) lithium-ion battery gigafactory, which is just the first of many to come. Nevada is also home to Albemarle’s (NYSE:ALB) Silver Peak lithium mine, the only producing lithium brine operation in the US.
Read on for a brief look at lithium brine deposits. You can also click here to read our overview of lithium pegmatite (hard-rock ore) deposits and sedimentary deposits.
Generally, lithium extraction from brine sources has proven more economical than production from hard-rock ore. While hard-rock lithium production once dominated the lithium market, the majority of lithium carbonate is now produced from continental brines in Latin America. This is primarily due to the lower cost of production. That said, Australia was still the world’s largest lithium producer in 2021 in terms of mine output, and most of that came from the Greenbushes hard-rock lithium operation.
There are three types of lithium brine deposits: continental, geothermal and oil field.
The most common are continental saline desert basins (also known as salt lakes, salt flats or salars). They are located in areas with geothermal activity and are made up of sand, minerals with brine and saline water with a high concentration of dissolved salts. A playa is a type of brine deposit whose surface is composed mostly of silts and clays; playas have less salt than a salar.
Lithium brine deposits represent about 66 percent of global lithium resources and are found mainly in the salt flats of Chile, Argentina, China and Tibet.
This is the most common form of lithium-containing brine. Most lithium production comes from continental lithium brine deposits in what is known as the “Lithium Triangle” — a region of the Andes mountains that includes parts of Argentina, Chile and Bolivia.
The best example is the 3,000 square kilometer Salar de Atacama in Chile, which has an average lithium concentration of about 0.14 percent — the highest known — and estimated lithium resources of 6.3 million MT. Two of the world’s leading lithium producers, Sociedad Quimica y Minera (NYSE:SQM) and Albemarle, operate on the Salar de Atacama.
Livent (NYSE:LTHM), which was spun out of FMC (NYSE:FMC) in 2018, produces lithium carbonate from another world-class lithium brine deposit, Argentina’s Salar del Hombre Muerto. Allkem (TSX:AKE,ASX:AKE,OTC Pink:OROCF) is ramping up production of lithium at its operations on the neighboring Salar de Olaroz, and also holds the Sal de Vida project in Northwestern Argentina.
Bolivia is home to the world’s largest deposit of lithium, the Salar de Uyuni, which reportedly contains up to 50 to 70 percent of known world reserves. However, the odds of this continental brine seeing commercial production are low for several reasons, including the fact that Bolivia is keen on keeping its natural resources under state control.
Additionally, the deposit has magnesium-to-lithium ratios that are three times higher than those at Atacama, making it more difficult and costly to refine salt into lithium carbonate. Finally, the evaporation rate at Uyuni is only 40 percent of that at Atacama, which means refining would be more time consuming.
Not to mention, the Salar de Uyuni is a major tourist attraction — environmental, cultural and economic concerns from locals who depend on the salt flats for tourism could result in a great deal of red tape.
Geothermal lithium brine deposits make up roughly 3 percent of known global lithium resources and are comprised of a hot, concentrated saline solution that has circulated through crustal rocks in areas of extremely high heat flow and become enriched with elements such as lithium, boron and potassium.
Small quantities of lithium are contained in geothermal lithium brines in New Zealand, Iceland and Chile. But the Salton Sea in Southern California is the best-known example of a geothermal lithium brine deposit.
Simbol Materials, a private California-based company, had plans to produce high-purity lithium carbonate from discharge brine borrowed from geothermal plants operating on the Salton Sea. It would have used a unique reverse-osmosis process to eliminate the need for solar evaporation, making operations more timely and cost effective.
For over a year and a half, Simbol validated the process at its demonstration plant in California, and said in January 2015 that it had plans to begin construction of a large-scale plant. However, operations came to an abrupt halt when the Desert Sun reported that Simbol had fired 38 workers from its demonstration plant at the start of February 2015.
Currently working in the Salton Sea geothermal field is Controlled Thermal Resources. The company is in advanced development of the Hell’s Kitchen lithium and power project. The asset, which has an estimated 30 year life, has a total lithium resource capacity of 300,000 tonnes per year of lithium carbonate equivalent and a total resource capacity of 1,100 MW.
Pan Asia Metals (ASX:PAM) is exploring for lithium in a geothermal field in Kata Thong in the south of Thailand. The exploration target is near an existing lithium project and a hydropower station.
Lithium brine deposits can also be found in some deep oil reservoirs, accounting for 3 percent of known global lithium resources. North Dakota, Wyoming, Oklahoma, Arkansas and East Texas are home to oil field brines. The Smackover project on the US Gulf Coast is believed to hold an estimated 4.335 million MT of lithium carbonate equivalent resources.
This is an updated version of an article originally published by the Investing News Network in 2016.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company or commodity mentioned in this article.
Partnership to Explore Business Opportunities including Development of Downstream Lithium Assets
Growing multi-asset West Australian lithium company Global Lithium Resources Limited (ASX: GL1, “Global Lithium” or “the Company”) is pleased to announce it has signed a Non-Binding Memorandum of Understanding (MOU) with leading Korean battery manufacturer SK On Co., Ltd (SKO) to explore a range of future business opportunities.
SKO, an affiliate of Korea’s second-largest conglomerate SK Group, has a strong order backlog of 1,600GWh as of 2021.
Under the terms of the MOU, Global Lithium and SKO intend to explore future business opportunities including the potential development of downstream integrated battery grade lithium assets for an initial two-year period. The MOU will also consider:
The term of the MOU is two years unless it is extended or terminated earlier by mutual agreement or superseded by a definitive agreement related to a joint venture, partnership and/or offtake agreement.
Click here for the full ASX Release
This article includes content from Global Lithium Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to announce assay results from the current diamond drilling campaign at the Company’s 100% owned Mavis Lake Lithium Project. The assay results illustrate the continuity of high-grade lithium mineralization within the Main Zone of Mavis Lake and present continued intercepts of extremely high-grade lithium oxide.
Critical Resources Non-Executive Director, Mr Alex Cheeseman said:
“To follow our last results with another set of such high-grade assays is an excellent outcome for the Company, and further builds our confidence in delineating a JORC compliant resource in the near term.
We believe the last few rounds of assay results have been the some of the highest grades released by an ASX listed lithium company so far in 2022, this sets us up well to continue advancing the project and transition Critical Resources into a potential lithium project developer.”
Key assay data can be seen in Table 1 below with pegmatite cross sections included in Figure 1 and Figure 2. Full details can be seen in Appendix 1.
Table 1. Significant Assay Results from MF22-81 to MF22-86
Exploration Drilling Overview. As the Company pushes its drilling campaign to the west, the assay results confirm continued lithium mineralization, ultimately extending the confirmed strike length of the main zone which has been subject to approximately 11,000 meters of drilling in this current 2022 campaign. The high-grade lithium confirmed in the assay results correlate with visual assessments released immediately after drilling (refer to ASX Announcements of 16 June 2022 and 22 June 2022).
Click here for the full ASX Release
This article includes content from Critical Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
The Thunder Bay region of Ontario has been the focus of lithium pegmatite exploration works with the delineation of hard rock lithium deposits including Rock Tech Lithium Inc’s Georgia Lake project in 2021, and Imagine Lithium Inc’s (TSX.V ILI) Jackpot Lithium project and works carried out by Ultra Lithium Inc (TSX.V-ULT) Georgia Lake and Forgan Lake Projects, to name a few.
Key Updates on the Due Diligence
CSA Global was engaged by BMM to execute a Due Diligence assignment of the Gorge Lithium Project located approximately 215 km northeast of Thunder Bay, Ontario, and approximately 60 km southwest of Geraldton, Ontario. The Project site is accessed via Trans Canada Hwy 11 with entry points along well-graded gravel logging roads starting 40 km north of Nipigon/Trans Canada Hwy 14/11 intersection (Gorge Creek Road) and Camp 51 Rd, approximately 33 km west of Geraldton.
The historical data review for the Project indicates that there is adequate historical information available to incorporate into a digital and georeferenced database for the purposes of planning initial exploration programs such as additional field mapping and prospecting, rock and chip sampling, and trenching and channel sampling of spodumene-bearing pegmatites in the project area.
Click here for the full ASX Release
This article includes content from Balkan Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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