PALM BEACH, Florida, July 24, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Lithium industry professionals remain optimistic about lithium's future as demand for the metal is projected to triple by 2025, according to Lithium Investing News. Growth is expected to be driven by rapid expansion in the lithium-ion battery industry for hybrid and electric vehicles, energy storage systems, and high-drain portable electronics. 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. Since the current state of lithium is very limited, auto manufacturers are beginning to lock-in lithium suppliers. The expectations for the industry are that mining operations for lithium will ramp up significantly to meet demand which could be positive news for companies in sector. Active companies in the mining markets today include: QMC Quantum Minerals Corp. (TSX-V:QMC) (OTC:QMCQF), MGX Minerals Inc. (OTC:MGXMF) (TSX:XMG), Nemaska Lithium Inc. (TSX:NMX) (OTC:NMKEF), Lithium Corporation (OTC:LTUM), Nemaska Lithium Inc. (OTC:NMKEF) (TSX:NMX).
QMC Quantum Minerals Corp. (TSX-V:QMC) (OTCPK:QMCQF) BREAKING NEWS: QMC is pleased to provide an update on the company's 100% owned Irgon Mine Project located within the within the prolific Cat Lake-Winnipeg River rare-element pegmatite field of S.E. Manitoba, which also hosts Cabot Corporation's nearby Tantalum Mining Corporation of Canada ("TANCO") rare-element pegmatite.
QMC Quantum Minerals has initiated the planning of a Mobile Metal Ion ("MMI") geochemical survey over selected target areas within the Irgon Mine Project area. MMI geochemistry is a proven advanced geochemical exploration technique known to find mineral deposits. SGS Canada Inc. ("SGS") is the sole provider of MMI technology. As part of the services contracted to QMC (QMC NR of May 23, 2018), SGS will provide technical support and consulting services to undertake the MMI survey.
SGS's MMI technology is especially well suited to detect buried mineral deposits. At the Irgon Project, it will measure the mobile metal ions (Li, Cs, Nb, Ta, Rb, Be, etc.) in a soil sample that have been released from any underlying rare element pegmatite mineralization. These ions travel upward through the soil profile composed of unconsolidated materials such soil, till, sand, etc. Using careful soil sampling strategies, sophisticated chemical ligands and ultrasensitive instrumentation, SGS is able to measure the concentration of these ions. The main benefits of an MMI survey are the generation of very few false anomalies and any anomalies that are identified are sharp and focused directly over the mineral deposit. The survey has excellent repeatability and low detection limits. After interpretation, MMI data will indicate anomalous target areas on which to focus the subsequent drill program.
An initial orientation survey will be undertaken over known mineralization in the Irgon Dike and subsequently expanded westward along strike, to define any potential buried extensions of the dike. The MMI survey will also be utilized over the large historic lithium soil anomaly identified immediately south of Cat Lake as was defined but never evaluated by TANCO in 1978 (QMC NR of March 01, 2018). Read this full release and more news for QMC Quantum Minerals at: http://www.marketnewsupdates.com/news/qmc.html
In other Lithium mining industry news and developments:
Lithium Corporation (OTCQB:LTUM) last week announced it has received the initial results from its Spring exploration program at the Yeehaw Rare Earth Element prospect in Southern British Columbia. Field work on the claim last year discovered the 30 meter wide Horseshoe Bend structure which is anomalous in REE's and also averages 0.90% titanium. Prior to kicking off fieldwork here this year the company added a further claim, and currently holds 8365 acres (3385 hectares) of mineral tenures. Sampling/mapping this year has determined that a similar, as yet undefined feature exists approximately 660 feet (200 meters) to the northwest of the Horseshoe Bend. This structure appears to be more strongly mineralized, with REE concentrations generally higher than those at Horseshoe Bend, and titanium contents up to 1.37%. Additionally, a float boulder that exhibits similar mineralization was found approximately 0.9 miles (1.4 kms) to the northwest above the Horseshoe Bend showing. These discoveries are significant as they could possibly indicate that mineralization is more widespread than it initially appeared, and that we can reasonably expect variations in concentrations, so it is conceivable that even higher grade material may yet be found here.
MGX Minerals Inc. (OTCQB:MGXMF) (TSX:XMG.TO) recently announced it has completed the previously announced diamond drill program on its Koot silicon project ("Koot" or the "Project") in British Columbia. A total of 782 meters (2,565 feet) of drilling were completed across 10 drill holes. Drill core has been split and sent to ALS Minerals in North Vancouver, British Columbia for special carbide pulverizing disc preparation and ME-ICP06 whole rock analysis. The Summer 2018 drill program was designed to define an initial N.I. 43-101 resource estimate. Additional drill work is planned at two of the Company's nearby silicon properties with the goal of also defining a resource. Historic Exploration conducted by COMINCO during the 1980's outlined a mineralized zone spanning approximately 400 meters consisting of high-purity silicon dioxide (SiO2). The global solar energy industry is expected to reach $422 billion by 2022 according to Allied Market Research, with a compounded annual growth rate of 24.2% between 2016 and 2022. MGX has prioritized evaluation and development of its silicon projects for silicon metal potential.
Nemaska Lithium Inc. (OTCQX:NMKEF) (TSX:NMX.TO) recently provided a project construction update and development timeline for its Whabouchi Mine and Electrochemical Plant in Shawinigan. Moving forward, Nemaska Lithium intends to issue progress reports in conjunction with its quarterly and annual financial reporting. Guy Bourassa, President and CEO of Nemaska Lithium, commented, "With the project financing structure completed on May 30th, our project construction and planning are on schedule at both locations and construction activities are increasing week by week. I am pleased that we are progressing according to plan and that we are on track to start producing spodumene concentrate in the second half of 2019 with lithium salts production commencing in the last half of 2020. Our conversations with end users suggest the market for battery grade lithium hydroxide and lithium carbonate remains very tight. Accordingly, we signed with LG Chem earlier this month our fourth supply agreement and we are currently negotiating the final terms of a fifth agreement with Northvolt and that puts us at more than 90% of our future lithium hydroxide and lithium carbonate production already committed. Our offtake contracts are multi-year agreements with several lasting for a period of up to 5 years.
Neo Lithium Corp. (OTCQX:NTTHF) (TSX-V:NLC.V) recently announced an updated resource estimate for its 100% owned Tres Quebradas lithium brine project ("3Q Project") in Catamarca Province, Argentina. This updated resource estimate has been completed under the supervision of Canadian-based Groundwater Insight, Inc., which is independent of the Company, and will be included in a technical report to be filed within 45 days in accordance with the requirements of National Instrument 43-101 ("NI 43-101"). On the basis of this updated resource estimate, the 3Q Project deposit represents one of the largest and highest grade undeveloped lithium brine deposits in the world. "With our second highly successful drilling campaign now completed, we have demonstrated that the 3Q Project is one of the largest lithium brine discoveries of recent times," said Dr. Perez, President and CEO of Neo Lithium. "The Measured and Indicated Resource estimate increased 227% from the maiden resource, confirming even more clearly the significant potential that we envisioned for this project."
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