Palm Beach, FL – (September 21, 2018) – The lithium industry appears to be experiencing a resurgent uptick as major and junior miners ramp up mining efforts in order to maximize the revenue potential that comes in hand with the precious metal. An in-depth look into the Lithium industry, Allied Market Research recently reported that the global lithium-ion battery market is expected to grow at a compound annual growth rate (CAGR) of 10.8% to reach over $46 Billion by as early as 2022. The increasing application in the electric vehicle industry, growing demand for electronic devices, stringent regulation on pollution levels and the enhanced efficiency of lithium-ion batteries are factors that will drive the growth of the market. Developments of note in the industry includes Chinese electric-vehicle maker NIO, Inc. (NYSE:NIO) launched its IPO this past Wednesday priced at $6.26 and raised about $1 Billion followed by the following day there was a burst of buying, propelling NIO stock to $12.69 realizing a gain of 76%. Active miners in the markets today include: NRG Metals Inc. (TSX-V:NGZ) (OTC:NRGMF), Lithium Americas Corp. (NYSE:LAC) (TSX:LAC), Nemaska Lithium Inc. (TSX:NMX) (OTC:NMKEF), Neo Lithium Corp. (OTC:NTTHF) (TSX-V:NLC).
NRG Metals Inc. (TSX-V:NGZ) (OTCQB:NRGMF) (Frankfurt OGPN) BREAKING NEWS: NRG Metals is pleased to announce the completion of a second pumping well at the Hombre Muerto North Lithium Project, Salta, Argentina. The well, designated TWW18-02, was drilled to the target depth of 400 meters, and it is located immediately adjacent to core hole TH18-02, which was described in the company’s press releases dated July 10, 2018 and August 23, 2018. Pumping tests will commence shortly.
Pumping well TWW18-02 was drilled adjacent to core hole TH18-02 on the western side of the Tramo concession. The core hole was drilled to a depth of 281 meters, and the arithmetic average of single packer, double packer and one bailer sample from surface to a depth of 230.5 meters was 638 mg/L with a low Mg to Li ratio of 2.65 to one. Host rocks were mainly poorly-consolidated sandstone from surface to 77 m, followed by compact halite from 77 to 139 m, poorly-consolidated sandstone from 139 to 166 m and then intercalated halite and sandstone to the bottom of the hole. The results from the pumping well were consistent with the core hole.
As we reported in our press release dated June 28, 2018, the arithmetic average of all samples (single packer) for TH18-01 from the surface to a depth of 401 meters was 900 mg/L with a low magnesium to lithium ratio of 3.0 to one. Host rocks were almost entirely poorly-consolidated sandstone and conglomerate. Pumping well TWW18-01 was drilled adjacent to core hole TH18-01, and the results from the pumping well were consistent with the core hole. Initial pumping tests from TWW18-01 indicated an average pumping rate of 25 liters per second of brine, but the capacity of the pump was limited, and we expect that this rate will be exceeded with a larger pump. TH18-01 and TWW18-01 are located on the eastern side the Tramo concession approximately 2.1 kilometers from hole TH18-02 and TWW18-02.
Two bulk samples of brine have been collected from pumping well TH18-01 for technical evaluation. A 200 liter sample has been shipped to the Company’s strategic partner Chengdu Chemphys Chemical Industry Co., Ltd, (“Chemphys”), located in Chengdu, China. Chemphys, along with Sunresin New Materials Co. Ltd. , Xi’an, located in Shaanxi, China, are evaluating the brine for new recovery applications. A large bulk sample has also been collected via tanker truck by Alex Stewart Laboratories, located in Jujuy, Argentina, to evaluate and optimize magnesium removal.
NRG’s technical advisor, Montgomery and Associates of Santiago, Chile, is preparing a maiden resource estimate compliant to National Instrument 43-101, as part of a technical report for the Hombre Muerto North project, which will be completed and announced shortly. 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:
Nemaska Lithium Inc. (TSX:NMX.TO) (OTCQX:NMKEF) recently announced that it has satisfied the conditions required before the the Long Stop Date (as defined in the terms of the Bonds) pursuant to its offering of senior secured callable bonds in the aggregate principal amount of USD 350M (the “Bonds”), the completion of which was announced on May 30, 2018 (the “Bond Offering”). As indicated at the time of the pricing and closing of the books for the Bond Offering (see May 10, 2018 press release), the Corporation had until August 30, 2018, to satisfy a series of conditions precedent to the transfer of proceeds to the trustee in charge of holding same for the benefit of the bondholders, before the Corporation may draw on such proceeds. Nemaska Lithium engages in the exploration and evaluation of lithium hard rock mining properties in Canada. It owns 100% interests in the Whabouchi property that consists of 33 claims covering an area of 1,716 hectares located in the Eeyou Istchee/James Bay area of Quebec province; and the Sirmac property, which comprises 24 mining claims covering an area of 1,101 hectares located to the north-west of Chibougamau.
Lithium Americas Corp. (NYSE:LAC) (TSX:LAC.TO) has caught the attention of the Wall Street of late as the stock closed up over 8% on Thursday at $4.54. LAC recently announced new appointments to the senior management team following the recently announced strategic transaction with Jiangxi Ganfeng Lithium Co. Ltd. (“Ganfeng Lithium”) to jointly advance the Cauchari-Olaroz lithium project in Jujuy, Argentina (“Cauchari-Olaroz”), in addition to the Company’s continuing development of the 100%-owned Thacker Pass lithium project in Nevada, USA (“Thacker Pass”). Lithium Americas is developing the Caucharí-Olaroz lithium project currently under construction in Jujuy, Argentina, and, on closing of the strategic transactions announced August 14, 2018, will have a 62.5% interest in the joint venture with Ganfeng Lithium holding a 37.5% interest. In addition, Lithium Americas owns 100% of the Thacker Pass lithium project in northern Nevada, and RheoMinerals Inc., a supplier of rheology modifiers for oil-based drilling fluids, coatings, and specialty chemicals.
Neo Lithium Corp. (OTCQX:NTTHF) (TSXV:NLC.V) has recently achieved various important milestones at the Tres Quebradas lithium brine project in Catamarca province, Argentina. “The hydrological numerical model’s importance is to understand the behaviour of the brine aquifer and predict brine levels under production conditions. The model is used for environmental impact reports, to complete the mine plan and to determine the number of wells required for planned production and mine life,” said Dr. Waldo A. Perez, president and chief executive officer of Neo Lithium. “Furthermore, in regards to the new well, the production capacity of this first large-size production well is remarkable because it suggests that very few production wells would be required.”
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty-nine hundred dollars for news coverage of the current press release issued by NRG Metals Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org – +1(561)325-8757