Livent Corporation (NYSE: LTHM) today announced that Gilberto Antoniazzi chief financial officer, will speak at Cowen's 15 th Annual Global Transportation & Sustainable Mobility Conference, being conducted virtually on Wednesday, September 7, 2022 at 1:40 p.m. ET . Live access will be available on the Livent Investor Relations website and via the following link: https:wsw.comwebcastcowen123LTHM2021754 . A replay of the event will also be available via the same link for a period of 90 days.
For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent has a combined workforce of approximately 1,100 full-time, part-time, temporary, and contract employees and operates manufacturing sites in the United States , England , India , China and Argentina . For more information, visit Livent.com .
Media contact: Juan Carlos Cruz +1.215.299.6170 juan.carlos.cruz@livent.com
Investor contact: Daniel Rosen +1.215.299.6208 daniel.rosen@livent.com
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E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading lithium extraction technology innovator, today announced it has strengthened its technical team with the addition of Dr. Munish Sharma as Senior Engineer, Lithium Process.
Dr. Sharma is a chemical engineer with significant R&D and product commercialization experience. He obtained his MS and PhD in chemical engineering from State University of New York at Buffalo in 2013. He brings solid experience in material development at bench and pilot scale, including mixed metal oxides for use in adsorbent and catalyst development for oil and gas refining and lithium battery development as well as operating pilot and field demonstrations. He has driven projects from concept to commercialization at UOP Honeywell where he worked as a Senior R&D Engineer.
Dr. Sharma also brings three years of research experience in the development of novel bimetallic cathodes for lithium batteries where he led projects on battery engineering and testing, lithium battery degradation mechanisms and electrochemical mechanism elucidation. His master's thesis research title was "Electrochemistry of silver vanadium oxyphosphate (SVOP) cathodes for Li-ion batteries". To his credit, Munish has two U.S. patents and 11 research articles published in the leading journals.
121 Mining Investment Online Americas E3 Metals will participate in the upcoming 121 Mining Investment Online Americas conference to be held October 28-30, 2020 . Chris Doornbos , the President and Chief Executive Officer of E3 Metals Corp, will be attending the conference virtually, which connects mining executives with institutional funds, family offices and sector analysts for one on one meetings.
For more information on the 121 Mining Investment Online Americas conference visit https://www.weare121.com/121mininginvestment-new-york/ .
E3 Metals is a lithium development company with 6.7 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources 1 in Alberta . E3 Metals is currently advancing its proprietary direct lithium extraction (DLE) process in partnership with Livent Corporation (NYSE: LTHM), a global leader in lithium production, under a joint development agreement. Through the successful scale up its DLE process towards commercialization, E3 Metals' goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to market from one of the best jurisdictions in the world. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada. For more information about E3 Metals, visit www.e3metalscorp.com .
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos , President & CEO
Chris Doornbos (P.Geo), CEO and Director of E3 METALS CORP., is a Qualified Person as defined by NI 43-101 and has read and approved the technical information contained in this announcement.
1. E3 Metals has released information on three 43-101 Technical Reports totaling a resource of 6.7 Mt LCE. The Central Clearwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE (inferred), is dated effective October 27, 2017 , and the North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017 , identifies 0.9Mt LCE (inferred). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred) and was filed on June 15, 2018 , effective June 4, 2018 . All reports are available on SEDAR ( www.sedar.com ).
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.
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E3 Metals Corp. (TSXV:ETMC, FSE: OU7A, OTC:EEMMF) (The “Company” or “E3 Metals”) is pleased to provide an update on its proprietary Direct Lithium Extraction Process (“DLE Process”) that is being advanced in collaboration with Livent Corporation (NYSE: LTHM) (“Livent”).
Figure 1: Lithium Recovery (%) Vs Reaction Time (min)
Through the continued development of E3 Metals’ proprietary Ion Exchange DLE Process, the Company is excited to outline the rapid reaction kinetics on the recovery of lithium from Alberta brine. Using brine collected from E3’s Leduc Reservoir in Alberta this past November, 2019 (see News Release Here), the technical team has successfully achieved reaction times from lab-based test work that demonstrated over 90% recover in less than 10 minutes, as opposed to hours. This is a critical achievement as the Company moves towards piloting. Faster reaction times while achieving high recoveries results in reduced retention time of brine in the processing equipment.
Lab testing has demonstrated that lithium recovery of 92% is achieved in under 10 minutes from Alberta brines (Figure 1), drastically reducing the time required to complete each cycle of lithium extraction. With the achievement of these fast reaction kinetics, the Company anticipates increased efficiencies due to accelerated lab testing. In 2020, E3 Metals will continue its joint development with Livent to optimize its proprietary Ion Exchange DLE Process for lithium extraction from Alberta brine.
“These results demonstrate the efficiency that can be obtained from the optimization of E3’s proprietary Ion Exchange Direct Lithium Extraction Process in collaboration with Livent,” Chris Doornbos, E3 Metals’ CEO commented, “This is really just the beginning of the work we are conducting together, and we anticipate further improvements as we progress towards our goal of piloting our technology in Alberta.”
E3 Metals is a lithium development company with 6.7 million tonnes lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta. E3 Metals is currently advancing its proprietary Ion Exchange Direct Lithium Extraction Process (DLE Process) in partnership with Livent Corporation under a Joint Development Agreement. Livent is the world’s largest pure-play lithium producer, well-known for being one of the lowest cost producers of lithium carbonate. With facilities across the globe, Livent holds technical expertise in the extraction and production of various lithium products. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada.
Through the successful scale up its DLE Process towards commercialization, E3 Metals plans to quickly move towards the production of high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to market from one of the best jurisdictions in the world. The development of this lithium resource through brine production is a well-understood venture in Alberta, where this brine is currently being produced to surface through an extensive existing oil and gas infrastructure and development. For more information about E3 Metals, visit www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
Chris Doornbos (P.Geo), CEO and Director of E3 Metals Corp., is a Qualified Person as defined by NI 43-101 and has read and approved the technical information contained in this announcement.
1: E3 Metals has released information on three 43-101 Technical Reports totaling a resource of 6.7 Mt LCE. The Central Clearwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE (inferred), is dated effective October 27, 2017, and the North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017, identifies 0.9Mt LCE (inferred). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred) and was filed on June 15, 2018, effective June 4, 2018. All reports are available on SEDAR (www.sedar.com)
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.
This news release includes certain forward-looking statements concerning the potential of the Company’s projects and technology, as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Click here to connect with E3 Metals Corp. (TSXV:ETMC, FWB:OU7A, OTC:EEMMF) for an Investor Presentation.
E3 Metals Corp. (TSXV:ETMC, FSE:OU7A, OTC:EEMMF) (the “Company” or “E3 Metals”) is pleased to provide an update on its 2020 plans and ongoing activities to advance E3 Metals’ proprietary Ion-Exchange Direct Lithium Extraction (DLE) process.
Figure 1: E3’s Large volume brine samples. Testing will use natural brine from the Leduc Formation in Alberta, Canada, collected in November 2019.
Following the announcement of the Joint Development Agreement between E3 Metals Corp and Livent Corporation (NYSE: LTHM) — see news release dated September 18, 2019 — the combined technical team is actively working on the Ion Exchange (IX) Project (the “Project”). The Project aims to test the commercial readiness of the DLE ion exchange sorbent to produce a high purity lithium concentrate from the Company’s Alberta brine. The Project test work involves a comprehensive program focused on optimizing the performance of E3’s DLE process through the refinement of all process steps, operating conditions and materials. Once the objectives and milestones of the planned testing are met, our focus will shift towards the Pilot Plant Project to test the IX Process and evaluate the production of concentrate at a larger scale. All brine tested for this program is sourced directly from the Leduc Reservoir (Figure 1).
In 2020, E3 Metals is also planning to conduct well testing, which will include brine sampling reservoir pressure testing. Our testing activities will focus on improving the reservoir model, collecting information about lithium concentrations outside of oil and gas accumulations and updating the brine delivery plan in E3’s resource area.
“I’m very pleased with the progression of E3’s work to finalize the material development portion of the project in collaboration with Livent this year,” commented E3’s CEO, Chris Doornbos. “The development work on E3’s proprietary DLE process is being advanced on multiple fronts, by both Livent and our team, including GreenCentre Canada. We are very encouraged by the pace with which the project is moving.”
To provide more details on the Company’s plans for 2020, the Company is pleased to announce a live Corporate Overview Webinar with Chris Doornbos, President & CEO on Tuesday, January 21 at 2 p.m. ET. Chris Doornbos will be going through the Company’s updated investor presentation, providing an in-depth overview of the Company’s current activities and upcoming milestones. Management will be available to answer questions following the presentation on the webinar platform via live Q&A.
Webinar Details Date: Tuesday, January 21st Time: 2:00pm ET (11:00am PT) Register: https://attendee.gotowebinar.com/register/8008133915045001483
Management will be available to answer questions following the presentation. To ask a question, please login to the GoToWebinar platform or email your question(s) beforehand to investor@e3metalscorp.com.
E3 Metals is a lithium development company with 6.7 million tonnes lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta. E3 Metals is currently advancing its proprietary Ion Exchange Direct Lithium Extraction (DLE) process in partnership with Livent Corporation under a Joint Development Agreement. Livent is the world’s largest pure-play lithium producer, well-known for being one of the lowest cost producers of lithium carbonate. With facilities across the globe, Livent holds technical expertise in the extraction and production of various lithium products. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada.
Through the successful scale up its DLE process towards commercialization, E3 Metals plans to quickly move towards the production of high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to market from one of the best jurisdictions in the world. The development of this lithium resource through brine production is a well-understood venture in Alberta, where this brine is currently being produced to surface through an extensive existing oil and gas infrastructure and development. For more information about E3 Metals, visit www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
Chris Doornbos (P.Geo), CEO and Director of E3 Metals Corp., is a Qualified Person as defined by NI 43-101 and has read and approved the technical information contained in this announcement.
1: E3 Metals has released information on three 43-101 Technical Reports totaling a resource of 6.7 Mt LCE. The Central Clearwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE (inferred), is dated effective October 27, 2017, and the North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017, identifies 0.9Mt LCE (inferred). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred) and was filed on June 15, 2018, effective June 4, 2018. All reports are available on SEDAR (www.sedar.com)
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.
This news release includes certain forward-looking statements concerning the potential of the Company’s projects and technology, as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Click here to connect with E3 Metals Corp. (TSXV:ETMC, FWB:OU7A, OTC:EEMMF) for an Investor Presentation.
Piedmont Lithium Limited (ASX:PLL,NASDAQ:PLL) has launched its campaign on the Investing News Network’s resource channel.
Piedmont Lithium is a resource exploration and development company focused on developing domestic sources of lithium for the emerging US electric vehicle market. The company’s flagship lithium project is located in North Carolina, proving easy access to America’s “auto alley”. The Carolina Tin-Spodumene Belt (TSB) is home to the Kings Mountain district which is regarded as one of the three largest lithium-bearing pegmatite deposits in the world, attracting major mining companies including Livent Corporation (NYSE:LTHM) and Albemarle Corporation (NYSE:ALB).
North Carolina has a wealth of mining infrastructure including access to power, research and development centers and downstream lithium processing facilities that are expected to enable efficient operations moving forward. Piedmont Lithium’s 2019 scoping study for its North Carolina project included a mine and concentrator capable of producing 160,000 tonnes of spodumene concentrate per year and a steady-state 22,700 tonne per day lithium hydroxide chemical plant. Piedmont is on track to deliver a pre-feasibility study in Q2 2020.
Piedmont Lithium’s company highlights include the following:
Click here to connect with Piedmont Lithium Limited (ASX:PLL,NASDAQ:PLL) and to request an Investor Presentation.
E3 Metals Corp. (TSXV:ETMC, FSE:OU7A, OTC:EEMMF) (the “Company” or “E3” or “E3 Metals”) is pleased to announce that Livent Corporation (NYSE: LTHM) has contributed the initial US $1.5 million dollars in relation to the Joint Development Agreement (the “Agreement”). This initial contribution marks the commencement of the Joint Development Project with Livent for the technical advancement of E3 Metals’ proprietary on exchange Direct Lithium Extraction (DLE) Process. The ultimate goal of the Agreement is to develop a process to produce battery quality lithium products from the lithium enriched brines located in the Leduc Formation in Alberta.
Livent will contribute up to US $5.5 million to the Joint Development Project. On satisfaction of the full US $5.5 millionin funding and completion of the Joint Development Project, for a period of 90 days, Livent will have the option to convert its US $5.5 million investment into 6,229,368 common shares in the capital of E3, representing 19.9% equity ownership of E3 based on the current share structure (the “Conversion”). Should Livent elect to proceed with the Conversion, Livent can appoint one member to E3’s Board of Directors, provided Livent maintains not less than a 5% equity interest in the Company. Under the Agreement, should Livent not provide the entire US $5.5 million, then: i), Livent is not entitled to the Conversion; ii) E3 has no obligation to return any funds contributed by Livent; iii) all E3 IP and jointly developed new IP (other than improvements to Livent IP) will revert to E3. Livent has also been granted additional limited anti-dilution rights.
“We are thrilled to be working with Livent to advance our proprietary process and the Alberta Lithium Project,” said Chris Doornbos, President and CEO of E3 Metals. “We believe this collaboration will accelerate the advancement of the innovative technology we have developed to date. The Joint Development Project demonstrates E3’s commitment to the commercialization of lithium in Alberta.”
In conjunction with the initial funding by Livent of the jointly owned and newly incorporated joint development company, and in accordance with the terms of its Financial Advisory Agreement with Hampson Equities Inc. (“HEL”), E3 has agreed to pay HEL a cash fee of CAD$119,610 (being 6% of the US$1.5 million contribution) and issue HEL 109,935 warrants (the “Warrants”), each Warrant being exercisable into a common share of E3 at a price of CA $1.17 per share for a period of 2 years from the date of issuance. The $1.17 conversion price for the Warrants is based on an implied share price valuation that assumes an investment of US $5.5 million using the current USD/CAD exchange rate and the issuance of 6,229,368 shares. Notwithstanding the foregoing, E3 Metals makes no representations as to the current trading price of its shares in the public market or whether the entire US $5.5 million investment will be made.
For more than six decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent employs approximately 800 people throughout the world and operates manufacturing sites in the United States, England, India, China and Argentina. For more information, visit Livent.com.
E3 Metals is a lithium development company with 6.7 million tonnes lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta. Through the scale up of its proprietary ion exchange direct lithium extraction process, E3 plans to quickly move towards the production of high purity, battery grade, lithium products.
E3 Metals combines a significant resource and innovative technology solutions that have the potential to deliver lithium to market in one of the best jurisdictions in the world. The development of this lithium resource through brine production is a well-understood venture in Alberta, where this brine is currently being produced to surface through extensive oil and gas development. For more information about E3 Metals, visit www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO E3 METALS CORP.
Chris Doornbos (P.Geo), CEO and Director of E3 Metals Corp., is a Qualified Person as defined by NI 43-101 and has read and approved the technical information contained in this announcement.
1: E3 Metals has released information on three 43-101 Technical Reports totaling a resource of 6.7 Mt LCE. The Central Clearwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE (inferred), is dated effective October 27, 2017, and the North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017, identifies 0.9Mt LCE (inferred). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred) and was filed on June 15th 2018, effective June 4th 2018. All reports are available on SEDAR (www.sedar.com)
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.
This news release includes certain forward-looking statements concerning the potential of the Company’s projects and technology, as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Click here to connect with E3 Metals Corp. (TSXV:ETMC, FWB:OU7A, OTC:EEMMF) for an Investor Presentation.
Lithium Australia Limited (ASX: LIT) (Lithium Australia or the Company) is pleased to announce it has received firm commitments to raise $12,075,202 through a placement of 185,772,347 ordinary shares (Placement Shares) to s708 and professional investors at an issue price of $0.065 per Share, together with an attaching one for two (1:2) option, with an exercise price of $0.10 and an expiry of three years from date of issue (Placement Options) (Placement).
The Placement includes participation by a Director of the Company, who has subscribed for 1,538,462 Shares (value of $0.1m), subject to receipt of shareholder approval (Director Placement Shares).
Funds raised will be used towards commercialisation of the Company’s wholly owned subsidiaries Envirostream Australia Pty Ltd (Envirostream) and VSPC Pty Ltd (VSPC), and for general working capital.
Envirostream is leading the Australian battery recycling industry. Funds will be used to drive the increase of safe recycling of spent battery volumes at its operational facilities in Victoria. A national expansion study will also be undertaken during FY2023.
VSPC is developing advanced powders for next generation lithium-ion batteries, especially lithium ferro phosphate (LFP). Funds will be used to complete engineering studies for the expansion of our current facilities and to advance offtake and raw material relationships for the LFP supply chain.
The Placement was managed by Perth based CPS Capital Group Pty Ltd (CPS). Pursuant to a mandate executed between the parties, CPS are entitled to receive selling and management fees of 6% on the total amount raised under the Placement, and in addition will receive options on a 1:4 basis of shares issued under the Placement (on the same terms as the Placement Options). These options are subject to shareholder approval (Broker Options). Due to the expected corporate advisory requirements by the Company over the next 12 months CPS have also been engaged as the Company’s corporate advisor and will be entitled to receive a monthly fee of $6,000.
The issue price of the Placement Shares represents a discount of 22% to the last close price of $0.083 (26 August 2022) and a discount of 21% to the 5-day and 10-day VWAP of $0.082.
Comment from Chairman George Bauk
“We are very pleased with the strong support from existing and new shareholders for the capital raising. This funding puts us in a strong position to continue to progress our core opportunities of battery recycling and advanced cathode materials. This is an exciting time for the Company and we look forward to delivering on our strategy.”
The Placement is proposed to be completed in two tranches:
The Company will seek to have the Placement Options and Broker Options quoted subject to ASX approvals.
With this successful fundraise, the Company will have sufficient cash reserves to meet the requirements of the use of funds and therefore the Directors do not see a reason to draw on the At-the-Market Subscription Agreement (ATM) with Acuity Capital for the near future.
This announcement is intended to lift the trading halt requested by the Company after market close on 26 August 2022 in relation to its securities.
Authorised for release by the Board.
Click here for the full ASX Release
This article includes content from Lithium Australia, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Delivering higher production capacity parameters at Pata Pila
“Theseresultsaregreatnewsfrombothan underlying geological, and resource confidence, point of view. We have demonstrated a high production capacity with the completion of the first long-term pumping test at Pata Pila, as well as extending the reservoir quality throughout the main alluvial deposits on our tenements with the latest exploration well intercepts. These outcomes provide further validation of the world-class nature of the HMW Project and its planned development.”
Well pump testing program delivering excellent results
The 30-day long term pumping test at the first Pata Pila well (PPB-01-21) was successfully completed at the end of July. The sustained pumping rates were solid, ranging between 17 and 20 L/s. More than 150 brine samples were collected during this testing phase, with laboratory analysis returning an average Li grade of 874 mg/L (from a range of 821 to 927 mg /L).
The hydraulic testing of the second pumping well at Pata Pila (PPB-02-22) is set to commence shortly. This well is located approximately 800m upgradient in the Pata Pila alluvial fan (see Figure 1).
Click here for the full ASX Release
This article includes content from Galan Lithium Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ALBemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today announced that it will realign its Bromine and Lithium global business units (GBU) into a new corporate structure designed to better meet customer needs and foster talent required to deliver in a competitive global environment. The move follows the recent announcement of the company's decision to reorganize Catalyst under a to-be-named, wholly owned subsidiary.
Albemarle's two core global business units will become:
Albemarle CEO Kent Masters stated, "These changes reflect Albemarle's focus on growing our business, our people, and our value by being agile in providing innovative solutions that anticipate customer needs and meet the markets of tomorrow."
Organizational changes for Albemarle Specialties and Albemarle Energy Storage are expected to be effective January 1, 2023 . Beginning in 2023, the company will financially report through the following segments: energy storage, specialties, and catalysts.
About Albemarle ALBemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, our businesses, and the markets we serve.
Forward-Looking Statements Some of the information presented in this press release, including, without limitation, information related to the timing and transition to, and the benefits of, the Company's new portfolio model, the expected focus of the company's global business units, anticipated return on opportunities, and including all information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; changes in financial and operating performance of its major customers and industries and markets served by it; the timing of orders received from customers; the gain or loss of significant customers; fluctuations in lithium market pricing, which could impact our revenues and profitability particularly due to our increased exposure to index-referenced and variable-priced contracts for battery grade lithium sales; changes with respect to contract renegotiations; potential production volume shortfalls; competition from other manufacturers; changes in the demand for its products or the end-user markets in which its products are sold; limitations or prohibitions on the manufacture and sale of its products; availability of raw materials; increases in the cost of raw materials and energy, and its ability to pass through such increases to its customers; technological change and development, changes in its markets in general; fluctuations in foreign currencies; changes in laws and government regulation impacting its operations or its products; the occurrence of regulatory actions, proceedings, claims or litigation (including with respect to the U.S. Foreign Corrupt Practices Act and foreign anti-corruption laws); the occurrence of cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; the effect of climate change, including any regulatory changes to which it might be subject; hazards associated with chemicals manufacturing; the inability to maintain current levels of insurance, including product or premises liability insurance, or the denial of such coverage; political unrest affecting the global economy, including adverse effects from terrorism or hostilities; political instability affecting our manufacturing operations or joint ventures; changes in accounting standards; the inability to achieve results from its global manufacturing cost reduction initiatives as well as its ongoing continuous improvement and rationalization programs; changes in the jurisdictional mix of its earnings and changes in tax laws and rates or interpretation; changes in monetary policies, inflation or interest rates that may impact its ability to raise capital or increase its cost of funds, impact the performance of its pension fund investments and increase its pension expense and funding obligations; volatility and uncertainties in the debt and equity markets; technology or intellectual property infringement, including cyber-security breaches, and other innovation risks; decisions it may make in the future; future acquisition and divestiture transactions, including the ability to successfully execute, operate and integrate acquisitions and divestitures and incurring additional indebtedness; continuing uncertainties as to the duration and impact of the coronavirus (COVID-19) pandemic; performance of Albemarle's partners in joint ventures and other projects; changes in credit ratings; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K any subsequently filed Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. Albemarle assumes no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
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Editor's note — This article was originally focused on the top Canadian lithium stocks, but has been expanded to cover the top lithium stocks globally. Click here to read about the top Canadian lithium stocks.
You can also click here to read the previous top lithium stocks article.
Lithium prices hit an all-time high in 2021 and continued that trend into 2022. Although prices have cooled slightly from their peak in March, they're still sitting near historic levels.
With lithium being a hot topic this year, there is much to be learned about where it could go moving forward. The Fastmarkets Lithium Supply and Raw Materials conference took place at the end of June, with panels on topics like geopolitics and global demand. Additionally, the Investing News Network spoke with experts in the space to find out what five things investors can expect from the sector through 2025.
Here the Investing News Network takes a look at the top lithium stocks with year-to-date gains. The list below was generated using TradingView’s stock screener on August 24, 2022, for Canadian and US companies, and August 25, 2022, for Australian companies. It includes companies listed on the NYSE, NASDAQ, TSX, TSXV and ASX; all top lithium stocks had market caps above $10 million when data was gathered.
Year-to-date gain: 135.63 percent; market capitalization: US$2.52 billion; current share price: US$25
In Minas Gerais, Brazil, Sigma Lithium has its Grota do Cirilo hard-rock lithium project, at which it is currently constructing its Phase 1 operations with expected commissioning by year-end 2022. Sigma anticipates Phase I production of 270,000 metric tons (MT) annually. Additionally, Sigma is constructing its greentech dense media separation production plant, which will make its operations vertically integrated. The company has been recognized by the Bank of America (NYSE:BAC) as part of its “Top 50 Stocks for 10 Scarcity Themes.”
On May 26, Sigma filed a consolidated technical report that looks at two initial production phases for Grota do Cirilo. The integrated operation would source feedstock spodumene ore from the company's Phase 1 and Phase 2 lithium deposits to produce battery-grade, high-purity lithium concentrate. The company pegs the after-tax net production revenue at US$5.1 billion and the after-tax internal rate of return at 589 percent, and states that this expansion scenario "will potentially position (it) as the world’s fourth largest lithium producer." Sigma's share price spiked to its highest point for the first half of the year on May 27, reaching a level of US$18.30.
Most recently, Sigma shared an update on its “transformative” Q2, mentioning the previously announced news that it has increased the resource at Grota do Cirilo by 50 percent; a Phase 3 technical report has now been filed. Additionally, as of the announcement, total construction progress at the project stood at 32 percent. Sigma’s share price climbed through July and August, and after a small drop reached a year-to-date high of US$25 on August 24.
Year-to-date gain: 99.22 percent; market capitalization: US$26.07 billion; current share price: US$101.94
SQM is one of the world’s largest lithium companies. It produces lithium out of Chile’s Salar de Atacama and brings it to the market in the form of lithium carbonate and lithium hydroxide.
SQM is developing the hard-rock Mount Holland lithium project in Australia through a joint venture with Wesfarmers (ASX:WES,OTC Pink:WFAFF). The company places a heavy emphasis on the sustainability of its operations, including a production process that involves 97.4 percent solar energy.
On March 2, SQM released its 2021 earnings report, including net income of US$585.5 million compared to US$164.5 million for 2020. SQM's share price spiked in May to hit US$90.21 on May 18, the same day the company announced both its Q1 earnings report and the approval of an interim dividend payment for investors. Its share price continued to spike through late May, reaching a year-to-date high of US$113.33. On August 17, SQM announced another interim dividend and shared its Q2 and H1 earnings for this year. In H1, the company saw US$1.655 billion in net income, which was an increase of 940 percent over its US$157.8 million net income in H1 2021.
Year-to-date gain: 21.61 percent; market capitalization: US$33.72 billion; current share price: US$287.88
Albemarle is a lithium giant that produces lithium, bromine and catalyst solutions with operations around the world. It has a 49 percent interest in the company whose subsidiary, Talison Lithium, owns and runs the Greenbushes mine, as well as a 60 percent interest in Mineral Resources' (ASX:MIN,OTC Pink:MALRF) Wodgina mine. Both of these are hard-rock lithium mines in Western Australia. The company runs the Silver Peak lithium mine in Nevada, which it calls the only producing lithium mine in North America. The company also creates high-quality lithium products.
Albemarle's share price has spent most of the year down from its US$236.67 start, including a low of US$172.09 in March. However, mid-May saw the company finally make a prolonged break above that level, hitting a year-to-date high of US$270.92 on May 27. The company started the month with the May 4 announcement of its Q1 results, with highlights including a 36 percent year-on-year increase in net sales to US$1.13 billion and increased 2022 guidance. By May 23, the company had announced further increases to its guidance for this year, stating that it expects its adjusted EBITDA to be up more than 160 percent versus the full 2021 year.
On June 13, Albemarle announced the inauguration of its third chemical conversion plant, which it states should double its lithium production, as well as lower water consumption by 30 percent per MT. That started a consistent trend of upward momentum for the company’s share price, which continued through its decision to introduce a dividend, as well as its Q2 results. Highlights include a net sales increase of 91 percent over Q2 2021 and plans to build “integrated lithium operations” in the US. Additionally, its Kemerton I lithium conversion plant saw first production in July. The company’s share price hit a year-to-date high of US$295.68 on August 25.
Year-to-date gain: 242.86 percent; market capitalization: C$17.06 million; current share price: C$25.00
Nevada Sunrise Gold may have gold in its name, but 2022 has been all about lithium. The explorer wholly owns two lithium projects, the Gemini and Jackson Wash assets, which are located in the Lida Valley basin in Nevada.
According to Nevada Sunrise, the Lida Valley basin shares similar geography to the nearby Clayton Valley basin, where Albemarle’s Silver Peak lithium mine is located. In addition to its lithium properties, the company owns 100 percent of the Coronado VMS project, 20 percent of the Kinsley Mountain gold project and 15 percent of both the Treasure Box copper project and the Lovelock Mine cobalt project.
In the first quarter, Nevada Sunrise Gold’s share price saw little movement, even as it commenced exploration at Gemini. It wasn’t until the company shared its first drill results on April 18 that its share price broke above C$0.10, jumping from C$0.08 to C$0.14 overnight. Further exploration results at the project, including 1,101 parts per million lithium over 730 feet, continued to drive its share price higher.
After rising through May and early June, the company’s share price hit a year-to-date high of C$0.36 on June 10 off the back of June 6 exploration results showing 327.7 milligrams of lithium per liter of water over 220 feet, as well as private placement news. On July 11, the company shared preliminary results from a May time-domain electromagnetic survey. In late July, Nevada Sunrise received an exploration permit for Gemini that amended the number of boreholes to 12, and in mid-August the company announced that it had engaged the drillers for the exploration program. The Phase 2 drill program will begin in September.
Year-to-date gain: 148.78 percent; market capitalization: C$3.05 billion; current share price: C$32.34
For information about Sigma Lithium and what has driven its share price, see its entry in the top US lithium companies section above.
Year-to-date gain: 80 percent; market capitalization: C$18.42 million; current share price: C$0.09
Jourdan Resources is focused on acquiring, exploring and developing hard-rock spodumene lithium projects in Quebec, Canada. Its current projects are the Vallée lithium, Baillarge lithium-molybdenum and Preissac-La Corne lithium projects. According to the company, it has the largest lithium exploration portfolio in Quebec.
Jourdan Resources’ share price saw a spike to start the year — hitting a year-to-date high of C$0.095 — but then fell and performed relatively flatly for much of the first half of the year, staying mostly around C$0.05 to C$0.06. The company’s share price began to rise again in June, during which time it shared exploration results at Vallée, including a highlight of 3.2 meters at 1.56 percent Li2O. Its share price hit C$0.085 in June and again in July.
In July and August, Jourdan has continued to release exploration news at its various projects. On July 7, it shared its latest exploration results at Vallée. Later in the month, the company began a soil sampling program at the Preissac-La Corne and Baillarge projects. In the release, CEO Rene Bharti shared the company’s goals moving forward, saying: “Jourdan is pleased to begin exploration on its other significant properties. The Company is keenly focused on establishing an initial mineral resource estimate at Vallée in the near term and commencing a drill program in the near future at its other two properties, Baillargé and Preissac-La Corne.”
Most recently, Jourdan began drilling at Vallée for its Phase 3 summer drilling program. Just days before that news was released, its share price matched its previous high of C$0.095.
Year-to-date gain: 135.63 percent; market capitalization: AU$2.52 billion; current share price: AU$25.00
According to Core Lithium, its Finniss lithium project in the Northern Territory is “one of Australia’s most capital-efficient and lowest-cost spodumene lithium projects.” First production is expected in the fourth quarter of 2022, and the company already has multiple four year offtake agreements in place with Ganfeng Lithium (SZSE:002460) and Sichuan Yahua Industrial Group (SZSE:002497).
On March 1, Core Lithium announced a four year offtake arrangement with Tesla (NASDAQ:TSLA) for up to 110,000 tonnes of lithium oxide spodumene concentrate from Finniss. Shares saw a spike at the beginning of April following the release of an update on exploration at its Finniss project, and Core hit a year-to-date high of AU$1.60 on April 4. A week later, the company announced that it was acquiring the Shoobridge lithium project near Finniss.
After releasing multiple exploration updates at Finniss throughout the year, the company shared in July that the mineral resource estimate for Finniss had increased by 28 percent to 18.9 million MT at 1.32 percent Li2O. Since then, the company has released further drill results for the BP33 drill hole at Finniss. A sample includes 16 meters at 2.27 percent Li2O, which the company said is “world class.”
In August, Core appointed Gareth Manderson, who has 28 years of experience in the mining industry, as CEO. Later that month, on August 15, it released a wide-ranging exploration update for its various projects. The same day, Core's share price climbed to a year-to-date high of AU$1.62.
Year-to-date gain: 135.63 percent; market capitalization: AU$2.52 billion; current share price: AU$25.00
Sayona Mining (ASX:SYA) is a lithium producer working in Canada and Australia. Alongside Piedmont Lithium (ASX:PLL,NASDAQ:PLL), its strategic partner, the company has acquired North American Lithium, which had a pre-existing lithium mine and concentrator in Quebec, Canada. Sayona has two assets nearby, the Authier and Tansim lithium projects, and it intends to create a Quebec lithium hub to feed the battery supply chain. The company has further lithium projects in Western Australia’s Pilbara region, and it is exploring for gold.
Sayona's share price shot up on April 4 on news that testing of lithium spodumene product from the Authier project shows that it “performs as well as commercially available battery-grade lithium hydroxide.” It continued to climb, reaching a year-to-date high of AU$0.38 on April 19 before beginning to trend back downwards. In late April, the company announced the discovery of a lithium pegmatite zone at the Moblan project.
Sayona has spent the last few months continuing to build up towards the start of production at North American Lithium, including a AU$190 million institutional placement and the building of the team for the project. Sayona and Piedmont approved the restart plan on June 28. As of August 4, 30 percent of plant and equipment upgrades were complete, and first production is anticipated for the first quarter of 2023. The company’s share price has moved back up throughout this news, reaching a Q3 peak of AU$0.30.
Year-to-date gain: 135.63 percent; market capitalization: AU$2.52 billion; current share price: AU$25.00
Xantippe Resources is developing its Carachi lithium project in Argentina after pivoting to focus on what it calls the lithium super trend. The company’s goal is to provide high-purity, battery-quality lithium, and it is acquiring multiple tenements in the Lithium Triangle to accomplish that goal. Xantippe’s land package is located near Lake Resources’ (ASX:LAC,OTCQB:LLKKF) Kachi lithium project. In addition, the company has its Southern Cross gold project in Western Australia, which it is investigating for lithium-bearing pegmatites.
In 2022, Xantippe exercised its option to acquire Carolina Lithium, which gave it access to the Carachi Pampa project. Additionally, it has exercised its options to acquire the Rita and Rita 1 tenements, the La Sofia tenement and the Luz Maria tenement, all expanding the company's footprint in the Lithium Triangle.
Xantippe's share price hit a year-to-date high of AU$0.015 in April. On June 14, Xantippe announced that it had increased its footprint of lithium brine tenements in the country from 12,400 to 21,900 hectares after obtaining options for four more land packages. Later in June, the company obtained exploration and prospecting licenses for the Southern Cross project. The company’s most recent news came on August 30, when it announced it would be conducting a vertical electrical sounding (VES) exploration program at Carachi, and is planning to begin exploration drilling once it has the results of the VES program, as well as drilling permits.
While we don't know how much total lithium is on Earth, the US Geological Survey estimates that global reserves stand at 22 billion MT. Of that, 9.2 billion MT are located in Chile, and 5.7 billion MT are in Australia.
Lithium is mined throughout the world, but the two countries that produce the most are Australia and Chile. Australia's lithium comes from primarily hard-rock deposits, while Chile's comes from lithium brines. Chile is part of the Lithium Triangle alongside Argentina and Bolivia, although those two countries have a lower annual output.
Rounding out the top five lithium-producing countries behind Australia and Chile are China, Argentina and Brazil.
Lithium has a wide variety of applications. While the lithium-ion batteries that power electric vehicles, smartphones and other tech have been making waves, it is also used in pharmaceuticals, ceramics, grease, lubricants and heat-resistant glass. Still, it is largely the electric vehicle industry that is boosting demand.
The lithium price has seen huge success over the past year, and many stocks are up alongside that. It's up to investors to decide if it's time to get in on the market, or if they’ll try to wait for a dip.
A wide variety of analysts are bullish on the market as electric vehicles continue to prosper, and lithium demand from that segment alone is expected to continue to rise. These experts believe the lithium story's strength will continue over the next decades as producers struggle to meet rapidly growing demand.
Unlike many commodities, investors cannot physically hold lithium due to its dangerous properties. However, those looking to get into the lithium market have many options when it comes to how to invest in lithium.
Lithium stocks like those mentioned above could be a good option for investors interested in the space. If you’re looking to diversify instead of focusing on one stock, there is the Global X Lithium & Battery Tech ETF (NYSE:LIT), an exchange-traded fund (ETF) focused on the metal. Experienced investors can also look at lithium futures.
Lithium stocks can be found globally on various exchanges. Through the use of a broker or an investing service such as an app, investors can purchase individual stocks and ETFs that match their investing outlook.
Before buying a lithium stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it's critical to complete due diligence before making any investment decisions.
It's also important for investors to keep their goals in mind when choosing their investing method. There are many factors to consider when choosing a broker, as well as when looking at investing apps — a few of these include the broker or app's reputation, their fee structure and investment style.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Lauren Kelly, currently hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Nevada Sunrise Gold and Jourdan Resources are clients of the Investing News Network. This article is not paid-for content.
ALBemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today announced that as a result of its strategic review of the business, ALBemarle has chosen to retain its Catalysts business under a separate, to-be-named entity and wholly owned subsidiary of ALBemarle . This structure is intended to allow the Catalysts business to respond to unique customer needs and global market dynamics more effectively while also achieving its growth ambitions.
In response to the accelerating energy transition, the Catalysts business announced in September 2021 a retooled strategy focused on new geographies in India and Southeast Asia , attractive crude-to-chemical technologies, renewable diesel to serve a larger hydrotreated vegetable oil market, and pyrolysis oil treatment for bio-oil (synthetic) fuel. Albemarle simultaneously announced a strategic review of the Catalysts business to determine the best way to support its strategy for growth.
During the review, Albemarle considered a wide range of value creation opportunities for the Catalysts business including a joint venture with a partner, a spin-off or sale, or Albemarle retaining the business. The company conducted due diligence with multiple parties, including strategic and financial sponsors, but in the end determined that the best value for Albemarle was to hold the business as a separate entity.
"We are confident that there is significant value in the Catalysts business that can address the needs of the evolving global market and create growth for customers, employees, and our shareholders," said Albemarle CEO Kent Masters . "We believe that retaining the business under this new structure is the best path to that outcome."
The process to move the Catalysts business to its new legal structure is underway and is expected to be finalized in approximately 18 months. The business will continue to be led by Raphael Crawford , current president of the Catalysts global business unit.
About Albemarle ALBemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, our businesses, and the markets we serve.
Forward-Looking Statements Some of the information presented in this press release, including, without limitation, information related to the timing of restructuring the Catalysts business, the benefits and opportunities associated with the restructuring of the Catalysts business, anticipated return on opportunities, and including all information relating to matters that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors that could cause Albemarle's actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; changes in financial and operating performance of its major customers and industries and markets served by it; the timing of orders received from customers; the gain or loss of significant customers; fluctuations in lithium market pricing, which could impact our revenues and profitability particularly due to our increased exposure to index-referenced and variable-priced contracts for battery grade lithium sales; changes with respect to contract renegotiations; potential production volume shortfalls; competition from other manufacturers; changes in the demand for its products or the end-user markets in which its products are sold; limitations or prohibitions on the manufacture and sale of its products; availability of raw materials; increases in the cost of raw materials and energy, and its ability to pass through such increases to its customers; technological change and development, changes in its markets in general; fluctuations in foreign currencies; changes in laws and government regulation impacting its operations or its products; the occurrence of regulatory actions, proceedings, claims or litigation (including with respect to the U.S. Foreign Corrupt Practices Act and foreign anti-corruption laws); the occurrence of cyber-security breaches, terrorist attacks, industrial accidents or natural disasters; the effect of climate change, including any regulatory changes to which it might be subject; hazards associated with chemicals manufacturing; the inability to maintain current levels of insurance, including product or premises liability insurance, or the denial of such coverage; political unrest affecting the global economy, including adverse effects from terrorism or hostilities; political instability affecting our manufacturing operations or joint ventures; changes in accounting standards; the inability to achieve results from its global manufacturing cost reduction initiatives as well as its ongoing continuous improvement and rationalization programs; changes in the jurisdictional mix of its earnings and changes in tax laws and rates or interpretation; changes in monetary policies, inflation or interest rates that may impact its ability to raise capital or increase its cost of funds, impact the performance of its pension fund investments and increase its pension expense and funding obligations; volatility and uncertainties in the debt and equity markets; technology or intellectual property infringement, including cyber-security breaches, and other innovation risks; decisions it may make in the future; future acquisition and divestiture transactions, including the ability to successfully execute, operate and integrate acquisitions and divestitures and incurring additional indebtedness; continuing uncertainties as to the duration and impact of the coronavirus (COVID-19) pandemic; performance of Albemarle's partners in joint ventures and other projects; changes in credit ratings; and the other factors detailed from time to time in the reports Albemarle files with the SEC, including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form 10-K any subsequently filed Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. Albemarle assumes no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
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Philip le Roux, the CEO of Arcadia stated: “Our focus with this drilling program is to test the geological horizons identified from our previously announced grab sampling program and recent comprehensive mapping, which horizons are considered most prospective for mineralisation based on previously received results. Once drilling has been completed, we should know a lot more about the tenor of mineralisation to shallow depths, which may warrant further drilling”.
The drilling program is expected to consist of 9 drill holes drilled at a 60 degree inclination and at varied azimuths and depths dependent on the inferred geometry and geology of the targeted zone. Dependant on whether visual mineralisation is encountered in drill holes, an additional 3 holes will be drilled. A location map of the planned drill holes is attached hereto as Annexure 2.
On the 7th of September 2021 the Company announced2 results from a grab sampling program over an inferred 20 km x 2 km metasedimentary structural feature (See Figure 1 below). This structure contains similar geology than that encountered at the nearby Navachab Mine (5.3MozAu)3 and by various other explorers for gold mineralisation in the area, such as Osino Resources who developed its Twin Hills prospect4 (located 45km also within the Karibib gold belt) to contain a Mineral Resource of 2.1MozAu.
Results attained from the grab sampling program at Karibib were impressive, and were taken from lithology identified as either Skarn-type or Vein-type mineralisation:
Skarn-type mineralisation returned average copper mineralisation of 4.32 % Cu, with a highest value of 28.40% Cu. Average gold values of 1.49 g/t Au were returned, with a highest value of 7.65 g/t Au. Significant Silver mineralisation was also encountered (av. 50.50 g/t Ag with highest 453 g/t Ag) and up to 1% Tungsten.
Vein-type mineralisation returned average results of 1.94% Cu (highest 5.69% Cu), 2.06 g/t Au (highest 26.30 g/t Au) and 12.68 g/t Ag (highest 30.10 g/t Ag).
Both vein- and skarn-type mineralisation is known to contain economic mineralisation in the area5, and were encountered on or near the contact margins of large diorite intrusions.
Following the receipt of the high-grade sampling results and newly attained knowledge of the geology of the area, the Company conducted follow-up work by identifying locally occurring favourable geological settings which are likely to host diorite-proximal skarn- and vein-type mineralisation suitable for drilling.
Click here for the full ASX Release
This article includes content from Arcadia Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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