PALM BEACH, Fla., April 5, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Today's lithium industry is experiencing a resurgent uptick as major and junior miners race to increase mining efforts in order to maximize the revenue potential that comes in hand with the precious metal. The global lithium market for batteries was the largest segment during the past few years and is expected to maintain its dominance throughout the coming year and possibly beyond. The growing application of lithium-ion batteries in electric vehicles (EV) as well as many consumer electronics and telecommunication devices including computers, mobile phones, and other electronic products is expected to continue to drive the growth of this market segment. The growing demand for EVs, hybrid EVs, and consumer electronics devices has resulted in the increasing use of lithium in these devices that in turn is leading to maximum revenue opportunities in the lithium battery market for companies such as: NRG Metals Inc. (TSX-V: NGZ) (OTC :NRGMF ), Lithium Americas Corp. (NYSE :LAC ) (TSX :LAC ), Nemaska Lithium Inc. (TSX :NMX ) (OTC :NMKEF ), Sociedad Quimica y Minera de Chile (NYSE :SQM ), First Cobalt Corp. (TSX-V: FCC) (OTC :FTSSF ).
NRG Metals Inc. (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt OGPN) BREAKING NEWS: NRG Metals is pleased to announce that drilling will commence shortly at the 29,180 hectare (72,100 acre) Salar Escondido Lithium Project located in Catamarca Province, Argentina.
NRG has contracted with Water Drilling from Catamarca to drill an 8.5-inch diameter rotary hole up to a depth of 400 m. The hole will be located approximately one kilometer south of the Company's initial diamond drill hole, which was completed to a depth of 307 m in December 2017. Water Drilling is currently in the process of completing a drilling program for another company on a project nearby, and the drill will be moved to the project in the next few days with drilling scheduled to start the week of April 9.
During 2017, NRG's drilling confirmed the presence of a buried brine zone beneath the alluvial cover on the surface of the basin. Brine was intersected at a depth of 140 m, and as reported in the Company's press release dated December 7, 2017, sampling from 183 to 198 m returned an average grade of 229 mg Li/liter in a porous, weakly consolidated sandstone horizon. A Vertical Electrical Sounding ("VES") geophysical survey conducted by the Company suggests that the brine zone occurs at an even shallower depth where the upcoming hole will be drilled. See a table of values and read more news for NRG Metals at http://www.marketnewsupdates.com/news/nrg.html
In other mining industry news and developments:
Lithium Americas Corp. (TSX :LAC.TO ) (NYSE :LAC ) announced an updated mineral resource estimate (the "Resource Estimate") on the Thacker Pass deposit (previously Zone 1) ("Thacker Pass") of the Lithium Nevada Project (the "Lithium Nevada Project" or the "Project") located in the McDermitt Caldera, Nevada, USA. The Resource Estimate was prepared pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). At a cut-off of 2,000 parts per million lithium ("ppm Li"), the updated Resource Estimate consists of a Measured and Indicated Resource of 385 million tonnes grading 2,917 ppm Li for 6.0 million tonnes of lithium carbonate equivalent ("LCE") and an Inferred Resource of 147 million tonnes grading 2,932 ppm Li for 2.3 million tonnes of LCE.
Nemaska Lithium Inc. (TSX :NMX.TO ) (OTCQX: NMKEF) provided an update on March 28 regarding its project financing plan to raise USD 775M to USD 825M to fund the construction, commissioning, working capital and reserve funds for its Whabouchi lithium mine and Shawinigan electrochemical plant (collectively, the "Project"), and also for general corporate working capital as follows: the Corporation has signed a non-binding term sheet for a USD 150 million streaming facility; it is currently in advanced discussions for debt financing aggregating USD 300-350 million; and it intends to raise the remainder through private and/or public equity or debt offerings, hence its preliminary base shelf prospectus filed on www.sedar.com . "We are involved in a number of formal discussions with serious parties and are confident that, upon completion, we will have secured sufficient funding to take us to commercial production," commented Guy Bourassa, President and CEO.
It was reported today that Two Sigma Investments LP increased its stake in Sociedad Quimica y Minera de Chile (NYSE :SQM ) by 36.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 927,689 shares of the basic materials company's stock after buying an additional 248,754 shares during the period. Two Sigma Investments LP owned about 0.35% of Sociedad Quimica y Minera de Chile worth $55,077,000 at the end of the most recent reporting period. Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.
First Cobalt Corp. (TSX-V: FCC) (OTCQB: FTSSF) this week announced additional drill results from the Woods Extension Zone of Cobalt South in the Canadian Cobalt Camp. Cobalt mineralization has been identified in breccia zones as well as faults, reflecting a complex structural setting that warrants further drilling. A few highlights included: - Assay results from two holes confirm cobalt mineralization extends over a broader area, including: Cobalt is found as two different styles of mineralization in each hole: breccia-style dominated by pyrite in drill widths up to 25m , and vein-style within an interpreted fault structure - Cobalt mineralization encountered over 250m north of the historic Frontier Mine workings in an area never previously drilled - Follow up work continues including downhole geophysical surveys and televiewer imaging to determine a possible orientation of the breccia zone and faults. Additional drilling is planned later in the year.
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