VANCOUVER, British Columbia, June 22, 2017 /PRNewswire/ --
LiCo Energy Metals Inc. (the "Company "or "LiCo") TSX-V: LIC; OTCQB: WCTXF is pleased to announce that as of June 22, 2017, Mr. Greg Reimer will be joining the advisory board of LiCo Energy Metals. Greg is the current Executive Vice-President of BC Hydro's Transmission and Distribution Network, a role he has held since June of 2010. In this capacity he is responsible for the planning, design, operation and maintenance of BC Hydro's extensive transmission and distribution network located within the province of British Columbia.
BC Hydro is Canada's third largest electric utility with over 4 million customers and $5.7 billion dollars in annual revenues.
Prior to joining BC Hydro, Greg has held a number of senior leadership positions in British Columbia's provincial public sector, including: Deputy Minister of Energy, Mines and Petroleum Resources, Chair of the BC Oil and Gas Commission and, Deputy Minister of Provincial Revenue. "I am very excited to have an opportunity help shape the future of an innovative energy metals company like LiCo. As renewable energy and new lithium ion battery technologies become mainstream, LiCo's well-located lithium and cobalt mineral assets will become increasingly important in the global energy market."
Tim Fernback, President & CEO of LiCo Energy Metals, states, "We are thrilled to have Greg join the advisory board of LiCo. He brings a substantial wealth of both corporate and 'Green Energy' experience. Greg is passionate about the evolution of the global electric vehicle market and he brings a vast amount of experience to LiCo. We are looking forward to his contribution to our company as we grow."
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a well-funded Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's focus is directed towards exploration for high-value metals integral to the manufacture of lithium ion batteries.
Chile Purickuta Lithium Project:
The Purickuta Project is located within Salar de Atacama, a salt flat encompassing 3,000 km2, being about 100 km long, 80 km wide and home to approximately 37% of the world's lithium production. The salar possesses a very high grade of both Lithium (1,840mg/l) and Potassium (22,630mg/l and is close to power, labour, communications, transportation and other infrastructure. The property of 160 hectares is enveloped by a concession owned by Sociedad Quimica y Minera ("SQM") and lies, significantly, within a few kilometers of the property of CORFO (the Chilean Economic Development Agency) where it leases to both SQM and Albermarle's Rockwood Lithium Corp. Together, these two companies have combined production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) annually making up 100% of Chile's current lithium output. The unique characteristics of Salar de Atacama make finished lithium carbonate easier and cheaper to produce than any of its peer group globally.
Purickuta is a smaller exploitation concession rather than a large exploration concession thereby accelerating the task of taking the project to production once a measured reserve can be established. Currently, the Chilean government retains ownership of lithium separate from other minerals and thus production can only proceed upon receipt of a special lithium operation contract known as a 'CEOL'. In the future, it will be necessary for LiCo and partners to negotiate a production contract with CORFO concurrently with completing any positive feasibility study. "Chile, which has one of the world's most plentiful supplies of lithium, is pushing ahead with new policies to develop those reserves." (Reuters Jan 2, 2017).
Ontario Teledyne Cobalt Project:
The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne Project located near Cobalt, Ontario. The Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver. A significant portion of the cobalt that was produced at the Agaunico Mine located along structures that extended southward onto property currently under option to LiCo Energy Metals.
Nevada Dixie Valley Lithium Project:
The Company has an option to acquire a 100% interest, subject to a 3% NSR, on a large lithium exploration project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The geologic setting and presence of lithium in active geothermal fluids and surface salts in Dixie Valley match characteristics of producing lithium brine deposits at Clayton Valley, Nevada and in South America.
Nevada Black Rock Desert Lithium Project:
The Company has entered into an option agreement whereby the Company may earn an undivided 70% interest, subject to a 3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project that consists of 128 placer claims (2,560 acres/1,036 hectares) in southwest Black Rock Desert, Washoe County, Nevada.
The Company is planning exploration programs for all its properties over the next several months.
On Behalf of the Board of Directors
Tim Fernback, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as the Company's ability to exercise the Option, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
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SOURCE LiCo Energy Metals Inc.