Pure Energy Minerals Ltd Is Today’s Lithium Focus
There is perhaps no better story than lithium right now among small caps. We’ve been covering the lithium sector here at Insider Financial and have already profiled Oroplata Resources Inc (OTCMKTS:ORRP), Lithium Corporation (OTCMKTS:LTUM) and Lithium X Energy Corp (OTCMKTS:LIXXF). Now we’re going to turn our attention to Pure Energy Minerals Ltd, which trades under the symbols PE in Canada, PEMIF on the OTC Markets, and AHG1 in Germany.
There are countless reasons to be excited about lithium. Lithium is right now the one commodity everyone can agree upon that will continue rising in price. This comes as the lithium-ion battery is the battery of choice for cell phones, laptops, tablets, cameras, and power tools. Consumer electronics will need 4 to 5% more lithium each year for the rest of the decade.
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Pure Energy Minerals Commences Drilling Newest Lithium Brine Exploration Borehole at Clayton Valley South Project, Nevada
VANCOUVER, British Columbia, Nov. 30, 2016 — Pure Energy Minerals Limited (TSX VENTURE:PE) (FRANKFURT:A111EG) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) is pleased to announce that it has commenced drilling its newest exploration borehole, CV-8, on the Clayton Valley South Project (“CVS Project”). This latest borehole is the final one in Pure Energy’s current phase of exploration work, and Pure Energy has all necessary permits and government permissions in hand to commence work. Since this borehole is being drilled concurrently with CV-7, the Company has retained Boart Longyear as the drilling contractor for CV-8. Boart Longyear has completed collaring of the borehole, and all ancillary works are in place to immediately commence rotary coring of the basin-fill sediments. CV-8 is located approximately 1.8 km (1.1 miles) west-southwest of the recently completed CV-3 well. The Company is targeting depths of approximately 600 – 900 m (2,000-3,000 ft) below ground level for CV-8.
CV-8 is in a highly prospective part of Pure Energy’s claim package, targeting geophysical and stratigraphic features of interest in a very deep portion of the basin. If completed to its full target depth, the Company believes this would be the deepest lithium brine exploratory hole in the area. Upon successful completion of the borehole to target depth as a well, the Company expects to collect new brine samples for lithium analysis and integrate that data into its existing inferred lithium brine resource. At the conclusion of the Phase 3 drilling program, Pure Energy will have drilled a total of approximately 4.1 km (13,320 ft) of exploration boreholes across their claims.
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Efforts for Lithium exploration near geothermal operations in Nevada continue
Alexander Richter 24 Nov 2016
Canadian Dajin Resources Corp. has secured a large number of placier claims near the Don Campbell geothermal power plant of Ormat in Nevada to explore for Lithium from geothermal brine.
Lithium continues to be a hot topic around geothermal development. Having reported on Canadian Dajin Resources Corp. before, the company has now announced having staked is pleased to report that it has staked 690 placer claims at Gabbs Valley located north of the Don Campbell geothermal power plant, in Mineral County, Nevada. The Don Campbell plant is a 16 MW geothermal power plant owned and operated by Ormat.
A placier claim grants the discoverer of valuable minerals contained in loose material such as sand or gravel the right to mine on public land.
These placer claims cover 13,800 acres (5,600 hectares) in the lower-elevation western portion of Gabbs Valley, where a playa (salar) with surface salt and mud flats occurs. The Gabbs Valley playa is considered to be a viable prospect for sub-surface lithium brines for the following reasons: 1) it is a deep, closed basin in a dry, desert environment, 2) geothermal activity is known to occur on all sides of the playa, including the south end where the operating Don Campbell geothermal power plant is located, and 3) potential lithium source rocks are found throughout much of the catchment basin.
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International Lithium: Strategic Partner Ganfeng Lithium to Increase Equity Ownership
International Lithium Corp. (TSX.V: ILC) (the “Company” or “ILC”) is pleased to announce that Jiangxi Ganfeng Lithium Co. Ltd. (“Ganfeng Lithium”), a leading China based multi-product lithium manufacturer will increase, through a third party share purchase arrangement with TNR Gold Corp., its equity stake in ILC by 2.3% to 18.1% on a non-diluted basis.
Key Highlights:
- Strategic Partner Ganfeng Lithium increases ownership in ILC to 18.1%;
- US12 million budget at Mariana lithium brine project aggressively implemented with maiden resource drilling nearing completion and pump tests commencing in the New Year.
- The Company is working with Ganfeng Lithium to secure an effective long-term exploration and development plan for Avalonia, Ireland.
“I am very pleased that Ganfeng Lithium is reinforcing its strategic stake in International Lithium. Ganfeng is a worldwide leader in lithium materials production based in China. They provide not only the capital to advance our joint venture projects in Argentina and Ireland, but technology to facilitate potential production to their particular needs as a lithium end-user. Ganfeng holds 19 patents and is the only company producing lithium chemicals both from brine and hard rock spodumene sources” states Kirill Klip, President of the Company.
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Wealth Signs Formal Option Agreement for the Atacama Lithium Project, Chile
Vancouver, British Columbia: Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZ), announces that its wholly-owned Chilean subsidiary (“Wealth Chile”) has entered into a formal option agreement with Atacama Lithium SpA, whereby it has been given the exclusive right and option (the “Option”) to acquire a 100% royalty-free interest in 144 exploration concessions (the “Concessions”) referred to as the Proyecto Atacama Lithium project (the “Project”) and located in the Atacama Salar in Region II of Antofagasta, northern Chile (the “Transaction”).
The Company also announces that, in conjunction with the completion of its due diligence on a proposed acquisition of Li3 Energy, Inc. (see press release of February 1, 2016), the Company has elected not to proceed with the proposed transaction. However, the Company continues to monitor projects and developments in the Maricunga Salar and other salars for potential acquisition opportunities.
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Rare Earth Minerals says Cinovec mine boosted by lithium upgrade
Rare Earth Minerals plc (LON:REM) said the potential mine at the Cinovec lithium/tin project in the Czech Republic has been boosted by a substantial upgrade to the higher confidence indicated resource.
The lithium indicated resource was lifted 420% to 2.6 Mt (million tonnes) of LCE (lithium carbonate) contained in 232.8 Mt at 0.45% Li2O (lithium oxide at a 0.1% lithium cut-off.
Meanwhile, the total lithium resource at the project increased 11.8% to 6.46 Mt of lithium carbonate, contained in 606.8 Mt at 0.43% lithium oxide, revealed European Metals Holdings, the operator of the site.
The indicated resource for tin increased by 64% to 28.6 Mt at 0.23% tin, 0.54% lithium oxide for 65,800 tonnes of tin and 0.38 million tonnes of lithium carbonate.
Rare Earths said the exploration target earmarked for lithium remained at between 350 and 450 million tonnes at 0.39% to 0.47% for between 3.4Mt and 5.3 Mt of lithium carbonate.
The significant increase in the indicated portion and the overall resource will have a positive impact for mine planning and the life of mine.
A pre-feasibility study is ongoing and due for publication at the end of March next year.
REM’s chief executive Kiran Morzaria said: “The increase in indicated mineral resource to 2.6Mt of LCE at the Cinovec lithium / tin project is an excellent result from the drilling, interpretation and geological modelling that has occurred over the last few months.
“This work has not only succeeded in delivering substantial increase in the mineral resource, but it has also, critically, delivered a substantial the indicated portion of mineral resource. This will allow the management to maximise the economic returns by targeting high grade sections of the deposit.
“In addition, the conceptual target of between 3.4Mt and 5.3Mt LCE, further illustrates that the Cinovec lithium / tin project still has ample scope for expansion, either in size or in production capacity.”
REM holds a 17.57% economic interest in Cinovec, via its interest in European Metals.
On Friday, EMH held its AGM, in which Rare Earths placing in EMH was approved. It is anticipated that this will complete over the next few days after which REM will hold 20.76%.
Shares in REM nudged 0.94% higher to 0.535p.
Source: http://www.proactiveinvestors.co.uk/companies/news/169382/rare-earth-minerals-says-cinovec-mine-boosted-by-lithium-upgrade-169382.html
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