CORAL SPRINGS, Florida, April 26, 2016 /PRNewswire/ --
Companies like Tesla have fueled the frenzy over lithium in the natural resources sector as consumers demand increased functionality and development of lithium-based products leading to rapid growth opportunities for Mining companies and operations. Companies in focus with expanded operations, advanced developments and news of note in the markets today are Nevada Energy Metals Inc (OTC: SSMLF) (TSX-V: BFF), Chemical & Mining Co. of Chile Inc. (NYSE: SQM), Albemarle Corporation (NYSE: ALB), Lithium X Energy Corp. (OTCQB: LIXXF) (TSX-V: LIX) and Galaxy Resources Limited (OTC: GALXF)
Nevada Energy Metals Inc (OTC: SSMLF) (TSX-V: BFF)) is pleased to announce the Company has increased the exploration potential of the San Emidio property by adding 69 additional claims to its land position. The property now includes 155 claims (approximately 3,100 acres/1255 hectares) in the San Emidio Desert, Washoe County, Nevada, 95 km northeast of Reno. The additional claims were staked to cover a portion of the playa evaluated in 1976 by Chevron Oil Company (Phoenix Geophysics report by Bruce S. Bell) for its geothermal power potential. The report states, "Almost the entire survey area exhibits definite anomalous responses which have a true resistivity less than three ohm meters. The apparent resistivity data exhibits near horizontal contours throughout parts of the anomalous area, but there is also sufficient lateral variations within each anomaly to suggest that the conductive zone is not due entirely to conductive sediments." Drilling will be required to determine if the responses identifies in the resistivity survey confirm the presence of brine aquifers. Importantly, historical results by previous operators exploring the playa for lithium reported lithium value in sediments up to 312 ppm and up to 80 ppm lithium in brine from a depth of 1.5 meters
Read the full Nevada Energy Metals (SSMLF - BFF.V) Press Release at: http://www.financialnewsmedia.com/profiles/ssmlf.html
The San Emidio Desert basin is an alkali playa environment underlain by unconsolidated sediments and clays being fed by Lithium bearing geothermal fluids (US. Geothermal analyses) reported in bounding faults, and/or faults along the east side of the basin. Since mid-Tertiary time, the rocks on the eastern edge of the San Emidio Desert have undergone extensive hydrothermal alteration and the presence of near-surface thermal fluids, suggest that the thermal fluids represent deep circulation of meteoric water (Moore, J.N., 1997). The property adjoins the Empire geothermal power plant with production of 4.6 MW of electricity from a 155°C resource thereby providing a substantial heat source for the circulation of meteoric groundwater believed important in the formation of Lithium brine deposits as found at Clayton Valley, Nevada host to North Americas preeminent Lithium brine production. US Geothermal has reported anomalous Lithium values in the trace element analysis of their geothermal brines at Empire.
In other developments and happenings in the sector: Chemical & Mining Co. of Chile Inc. News - Sociedad Química y Minera de Chile S.A.(NYSE: SQM) announced last week that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2015, with the U.S. Securities and Exchange Commission (the "SEC"). SQM's Form 20-F can be accessed by visiting either the SEC's website at http://www.sec.gov or the investor relations section of the Company's website at http://www.sqm.com. In addition, shareholders may request a hard copy of the Company's audited financial statements, free of charge, by contacting the Company's investor relations team at [email protected] or +562 24252485.
Albemarle Corporation (NYSE: ALB), also announced last week that President and Chief Executive Officer Luke Kissam will present at the Goldman Sachs Basic Materials Conference in New York, NY on Wednesday, May 18, 2016 at 11:45 a.m. ET. The format will include a Fireside Chat, and the remainder of the day will consist of one-on-one meetings. In addition to Kissam, Scott Tozier, Senior Vice President and Chief Financial Officer, Matt Juneau, Senior Vice President, Corporate Strategy and Investor Relations, and Sharon McGee, Vice President, Corporate Development, will be in attendance. The presentation and webcast will be made available on Albemarle's website at http://www.albemarle.com under the Investors heading. Details regarding the webcast information will be made available two weeks prior to the event.
Lithium X Energy Corp. (OTCQB: LIXXF) (LIX.V) is pleased to announce that the Company has completed its acquisition of an initial 50% interest in Potasio y Litio de Argentina SA ("PLASA"), which owns 100% of the Sal de los Angeles lithium-potash brine project ("Sal de los Angeles Project", or the "Project") in Argentina from Aberdeen International Inc. (" Aberdeen ")(AAB.TO). In consideration for the 50% interest, the Company issued 8,000,000 common shares to Aberdeen. The Sal de los Angeles Project covers more than 95% of the Salar de Diablillos property located in Salta province at an average elevation of approximately 4,050 metres above sea level. The Project includes 32 mining claims covering approximately 8,156 hectares and is located near FMC Corp.'s Salar de Hombre Muerto lithium deposit, one of the world's largest lithium operations.
Galaxy Resources Limited (OTC: GALXF), a lithium-focused resources company, explores and produces lithium carbonate mineral properties. The company's flagship project is the Sal de Vida lithium project in Argentina. It also owns interests in the Mt Cattlin Spodumene mine in Western Australia; and the James Bay lithium pegmatite project in Quebec, Canada. Galaxy Resources Limited is based in Ardross, Australia. GALXF closed up yesterday on over 624,000 shares traded by the market close at $0.344.
Meanwhile in additional Lithium news: As Tesla (NASDAQ: TSLA) begins ramping up production of its seven kilowatt wall-mountable in-home battery this year, it expects to exceed the sales of the entire energy storage system market last year. Tesla is expected sell 168.5 megawatt-hours of energy storage systems to the nation's leading residential solar system installer, SolarCity, this year according to an SEC filing. That's 60% larger than the entire 2015 U.S. behind-the-meter market and more than six times what Tesla sold to SolarCity last year, according to a note by GTM Research. Tesla expects revenues from SolarCity to increase from $8 million so far to $44 million this year - a 450% annual growth rate. "The numbers are all the more astonishing if we factor potentially lower unit prices," GTM senior storage analyst Ravi Manghani wrote in the report. Musk has said the company's $5 billion Gigafactory will double the world's supply of lithium-ion batteries for cars and homes when it's fully live in 2017. During an announcement of Tesla's new Model X sedan, Musk said the Gigafactory is already producing the home batteries. Source: ComputerWorld
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