PALM BEACH, Florida, June 13, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Lithium Continues to be one of the hottest commodities on the planet, with demand projected to triple by 2025 as electric vehicles and other lithium-powered devices become more abundant. The battery application segment of the global lithium market was the largest application segment, in terms of both volume and revenue. The growing usage of batteries can be attributed to the demand from markets, such as electric vehicles (EVs), cell phones, laptops, tablets, power tools, video games, toys, e-bikes, and other electronic devices. Statista predicts the total global demand for lithium will surpass 420,000 metric tons by 2025. For perspective, Grand View Research forecasts the lithium-ion battery market will be worth $93 billion in that timeframe. Active companies in the mining markets today include: QMC Quantum Minerals Corp. (TSX-V: QMC) (OTC: QMCQF), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Nemaska Lithium Inc. (TSX: NMX) (OTC: NMKEF), Lithium Corporation (OTC: LTUM), MGX Minerals Inc. (CSE: XMG) (OTC: MGXMF).
QMC Quantum Minerals Corp. (TSX-V: QMC) (OTC: QMCQF) BREAKING NEWS: QMC announces it has signed a non-disclosure agreement ("NDA") with an Asian-based manufacturing company which will allow them to test the Company's lithium mineralization identified by recent channel sampling of the Irgon Pegmatite Dike to see if it meets end-use requirements of the manufacturer's customers. Indicative of the NDA, the test results, proprietary specifications, and supplier's identity will be withheld in order protect both parties' commercial interests. The Irgon Dike is located at the company's 100% owned Irgon Lithium Mine Project, within the prolific Cat Lake-Winnipeg River Pegmatite Field of S.E. Manitoba that hosts the nearby Tantalum Mining Corporation of Canada ("TANCO") rare-element pegmatite.
QMC is in the process of updating the Irgon Lithium Mine's historic lithium resource through a detailed channel sampling and subsequent drill program. This historic resource was reported in 1955 to be 1.2 million tons grading 1.51% lithiumoxide over a strike length of 1,198 feet and to a depth of 700 feet. Recent assay results received from the 2017 channel sampling program were very positive, supporting the original development work on the dike, highlighted by QMC reporting results of 1.43% Li2O over 18 metres including 1.73% Li2O over 14 metres with very encouraging individual sample grades of up to 4.31%, 4.0% and 3.05% Li2O over one-metre sample intervals. Following a complete reevaluation of historic TANCO assessment reports by QMC, an additional target encompassing a large, untested lithium soil anomaly, which strikes east-west across the southern part of the property, has been identified. Its strike length as currently documented is over 3,600 feet with an estimated width of up to 1,150 feet at the western end. The Company has recently hired SGS Canada ("SGS") to provide technical support and consulting services for the QMC's 2018 field exploration and drilling program. SGS will also compile a NI 43-101 technical report expected to confirm and potentially increase the currently non-NI 43-101 compliant historical resource.
HISTORICAL RESOURCE: Between 1953-1954 the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and subsequently reported a historical resource estimate of 1.2 million tons grading 1.51% Li20 over a strike length of 365 meters and to a depth of 213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical resource is documented in a 1956 Assessment Report by B. B. Bannatyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment Report No. 94932). This historical estimate is believed to be based on reasonable assumptions, and neither the company nor the QP has any reason to contest the document's relevance and reliability. The detailed channel sampling and a subsequent drill program will be required to update this historical resource to current NI 43-101 standards. Historic metallurgical tests reported an 87% recovery from which a concentrate averaging 5.9% Li2O was obtained. Read this full release and more news for QMC Quantum Minerals at: http://www.marketnewsupdates.com/news/qmc.html
In other Lithium mining industry news and developments:
Nemaska Lithium Inc. (OTCQX:NMKEF) (TSX:NMX.TO) recently announced it has completed its overall CAD 1.1B (USD 849M) financing package (the "Project Financing Package") with the closing today of i) a CAD 280M public offering of common shares on a bought deal basis (the "Public Offering"), ii) a CAD 80M concurrent private placement of common shares with Ressources Québec Inc., acting as mandatory for the government of Québec ("Ressources Québec") (the "Contemporaneous Private Placement"), iii) a USD 350M offering of senior secured callable bonds ("Bonds") (the "Bond Offering") and iv) the release from escrow of CAD 93.8M (USD 72.1M) from the previously closed private placement with SoftBank Group Corp. ("SoftBank") (the "SoftBank Private Placement"). "In the past 12 months, we have developed and delivered a comprehensive Project Financing Package that we believe will allow Nemaska Lithium to realize its long-term potential while ensuring sufficient reserves for its future development", said Guy Bourassa, President and CEO of Nemaska Lithium.
MGX Minerals Inc. (OTCQB: MGXMF) (CSE: XMG.CN) recently announced it intends to complete a non-brokered private placement to raise gross proceeds of up to CA$7,007,000 on a non-flow through basis (the "NFT Financing") and a concurrent non-brokered flow through private placement to raise gross proceeds of CA$5,002,500 (the "FT Financing"), for aggregate gross proceeds of up to CA$12,009,500. The NFT Financing will consist of an offering of up to 6,370,000 units (the "NFT Units"). Each NFT Unit will be priced at $1.10 and comprised of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share of the Company for a period of 36 months from the date of closing at an exercise price of $1.20.
Lithium Corporation (OTCQB: LTUM) recently announced that it has recently begun its 2018 trenching program to the east of the Weather Station Showing at its BC Sugar flake graphite prospect in British Columbia. Previous trenching in 2015 in the area of the Weather Station Showing exposed a 226 foot (69 meter) variably mineralized section of relatively coarse grained flake graphite mineralization, that remains open in all directions. This broader intercept included a 98 foot (30 meter section) grading 2.73% graphitic carbon, and this section in turn included a 39 foot (12 meter) intercept of 2.99% graphitic carbon, all in a variably weathered friable gneissic host rock.
Lithium Americas Corp. (TSX: LAC.TO) (NYSE: LAC) recently announced the filing of a technical report (the "Technical Report") for the Thacker Pass lithium project (the "Thacker Pass Project"), formerly Stage 1 of the Lithium Nevada project. The Thacker Pass Project in Nevada, United States, is 100% owned by Lithium Nevada Corp., a wholly-owned subsidiary of Lithium Americas. The Technical Report supports the scientific and technical disclosure in the updated mineral resource estimates contained in the Company's press release dated April 5, 2018. The Technical Report entitled, "Independent Technical Report for the Thacker Pass Project in Humboldt County, Nevada, USA" was prepared by "qualified persons" from Advisian Americas, a division of the WorleyParsons Group, in compliance with National Instrument 43-101 - Standards for Disclosure for Mineral Projects ("NI 43-101").
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