NEW YORK, September 26, 2017 /PRNewswire/ --
According to Transparency Market Research, the global lithium-ion battery (LIB) market was valued at US$29.68 billion in 2015 and is expected to reach US$77.42 billion by 2024. This growth is projected to be achieved at a CAGR of 11.6% during the forecast period. The research indicates that an increasing shift towards clean and sustainable energy in the automobile industry plays a major role in the global lithium-ion battery market. High capacity batteries are now in higher demand because of their usage in HEVs, BEVs, and EVs. An increasing shift towards clean and sustainable fuels in the automobile industry is the chief driving factor for the growth of global lithium-ion battery market. An essential component of the LIB market is the chemical element of Cobalt. Like nickel, cobalt is found in the Earth's crust only in chemically combined form. According to Benchmark Mineral Intelligence, 75% of lithium-ion battery cathode capacities are expected to contain some volume of cobalt by 2020. LiCo Energy Metals Inc (OTCQB: WCTXF), First Cobalt Corp (OTCQB: FTSSF), Katanga Mining Limited (OTC: KATFF), Panasonic Corporation (OTC: PCRFY), Lundin Mining Corp. (OTC: LUNMF)
"The range of EVs can be improved, and the fuel consumption of hybrid EVs can be reduced using lithium-ion batteries. The diverse types of rechargeable batteries, distinguished by the materials used for the electrodes and electrolytes, have a short-range due to lower energy density and have a short operational life when compared with that of lithium-ion batteries. Growth in vehicle fleet leads to a proportionately faster change in the acceptance of EVs, thereby providing growth prospects for the global lithium market," explained Mahitha Mallishetty, a lead metals and minerals research analyst at Technavio.
LiCo Energy Metals Inc (OTCQB: WCTXF) is also listed on the TSX Venture Exchange under the ticker 'LIC'. Earlier today, the company announced breaking news that, the commencement of its Phase 1 diamond drilling program on both its Teledyne and Glencore Bucke Cobalt Properties situated in Bucke and Lorrain Townships, 6 km east-northeast of Cobalt, Ontario, as originally announced on September 12th, 2017.
The drill program has commenced and the Company expects to drill upwards to a combined 3,500 m on the Glencore Bucke and Teledyne Properties. The drilling is being conducted by an experienced diamond drill contractor, Chenier Drilling Services Ltd. The Teledyne and Glencore Bucke Properties are managed by Joerg Kleinboeck, P.Geo. (LiCo's QP), and supervised by Mr. Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo. "The goal of this drilling program will be to confirm the results of historical drilling on the properties and to further expand the resource potential up and down dip and along strike. Drilling will commence on the Glencore Bucke Property for the initial 1,200 m of the drill program. While we await assays, we will shift the drilling over to Teledyne to complete five or six holes totaling 1,000 m," states Mr. Melrose. Historically, Teledyne Canada Ltd. completed 36 diamond drill holes totaling 3,323.3 m on the Glencore Bucke Property, and a combined 28 surface and underground diamond drill holes totaling 3,160.8 m on the Teledyne Property.
Diamond drilling completed by Teledyne Canada Ltd. on the Glencore Bucke Property delineated two zones of mineralization measuring approximately 150 m and 70 m in length. The most significant results include 2.12% Co over 1.01 m in diamond drill hole T-18, 0.62% Co over 2.74 m in diamond drill hole T-23, 0.66% Co over 0.73 m, 1.68% Co over 0.46 m in diamond drill hole T-30, and 0.36% Co, 41 oz/t Ag over 0.58 m in diamond drill hole T-37 (Bresee, 1982). The historical reported intersections represent core lengths, and not true widths.
Based on the surface diamond drill program completed in 1981 by Teledyne Canada Ltd, a historical resource of 75,000 tons at an average grade of 0.45% Co, 3.0 oz/t Ag was estimated (Linn, 1983). The resource estimate is a historical estimate as defined by National Instrument 43-101. There was been no review of the methods and results of this historical resource estimate by a Qualified Person. No attempt was made to reconcile the historical resource calculations as reported by Teledyne Tungsten. LiCo is not treating the historical resource estimate as a current mineral resource or mineral reserve.
Diamond drilling by Teledyne Canada Ltd. on the Teledyne Cobalt Property encountered two zones of cobalt/silver mineralization extending from the boundary of mined zones at the Agaunico Mine in a north-south direction. Historically, the Agaunico Mine produced 4,350,000 lbs. of cobalt and 980,000 oz. of silver during the mining boom of the early 1900's (Cunningham-Dunlop, 1979). In 1979, Teledyne completed 6 surface diamond drill holes totaling 1,281.1 m. In 1980, Teledyne completed a 700 m long 2 production decline designed to reach the mineralization encountered in their recently completed surface diamond drill program. A total of 22 underground diamond drill holes totaling 1,879.7 m were completed. Both the surface and underground drilling programs indicated the presence of significant cobalt mineralization extending from the past-producing Agaunico Mine onto the Teledyne Cobalt
Property for a strike length of 152.4 m. In addition, the drill program encountered a second zone with a strike length of 137.2 m. The most significant results included 0.644% Co over 16.9 m in diamond drill hole UT-2, 0.74% Co over 8.7 m in diamond drill hole UT-3, and 2.59% Co over 2.4 m in diamond drill hole UT-18 (Bresee, 1981). The historical reported intersections represent core lengths, and not true widths.
Based on the surface and underground diamond drill programs completed between 1979 and 1981 by Teledyne Canada Ltd, a historical resource of 100,000 tons at an average grade of 0.45% Co, 0.6 oz/t Ag was estimated (Linn, 1983). The resource estimate is a historical estimate as defined by National Instrument 43-101. There was been no review of the methods and results of this historical resource estimate by a Qualified Person. No attempt was made to reconcile the historical resource calculations as reported by Teledyne Tungsten. LiCo is not treating the historical resource estimate as a current mineral resource or mineral reserve. The drilling will be conducted as part of LiCo's flow thru financing and work commitments for the Glencore Bucke Property."
First Cobalt Corp (OTCQB: FTSSF) is focused on building a diversified global portfolio of assets that are highly leveraged to the cobalt market. Recently, the company had elected not to complete the strategic alliance over seven cobalt exploration properties in the Democratic Republic of the Congo, previously disclosed on May 1, 2017. The Company will focus its efforts in 2017 on the Canadian Cobalt Camp. The previously announced mergers with Cobalt One Ltd. and CobalTech Mining Inc. will be completed later this year, resulting in a combined land position of more than 10,000 hectares in the Cobalt Camp containing approximately 50 past producers and mine workings.
Katanga Mining Limited (OTC: KATFF) operates a large-scale copper-cobalt mine complex in the Democratic Republic of Congo through two joint ventures, Kamoto Copper Company and DRC Copper and Cobalt Project. KCC and DCP are engaged in the exploration, refurbishment and rehabilitation of the Kamoto/Dima mining complex and the KOV copper and cobalt mine, respectively in the DRC. The Kamoto Project includes exploration and mining properties, the Kamoto concentrator, the Luilu metallurgical plant, the Kamoto underground mine and two oxide open pit resources in the Kolwezi district of the DRC. T DCP's assets include mining properties and various oxide open pit resources, the largest of which is the KOV pit.
Panasonic Corporation (OTC: PCRFY) is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, enterprise solutions and device industries. On April 27, 2017, the company announced that it held an opening ceremony for a new automotive lithium-ion battery factory in Dalian, China. With an increasing awareness of environmental issues, the market for eco-friendly vehicles is expanding every year, including hybrid, plug-in hybrid, and all-electric vehicles. Panasonic has provided automotive lithium-ion batteries to a number of auto manufacturers on a global basis and is leading the automotive battery market. Furthermore, in response to further increase in the demand of high-performance automotive lithium-ion batteries, Panasonic not only increased production at Japanese sites but will also start automotive battery cell production in the United States in 2017.
Lundin Mining Corp. (OTC: LUNMF) is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24% equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland. Recently, the company reported its Mineral Resource and Mineral Reserve estimates as at June 30, 2017. On a consolidated and attributable basis, contained metal in the Proven and Probable Mineral Reserve categories totaled 3,232 kt of copper, 3,415 kt of zinc and 130 kt of nickel.
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