ALBemarle Corporation (NYSE: ALB), a global leader in the specialty chemicals industry, announced it has been awarded a nearly $150 million grant from the U.S. Department of Energy (DOE) as part of the first set of projects funded by the President's Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for electric vehicles (EVs) and the electrical grid and for materials and components currently imported from other countries. The grant funding is intended to support a portion of the anticipated cost to construct a new, commercial-scale U.S.-based lithium concentrator facility at ALBemarle's Kings Mountain, North Carolina location.
Albemarle CEO Kent Masters will participate in today's virtual White House event as part of the DOE award recipient announcement, reiterating Albemarle's commitment to invest in the U.S. to source and process the critical materials used to make lithium-ion batteries.
" Albemarle is proud to partner with the federal government to bring manufacturing jobs to the southeastern United States , strengthening the domestic supply chain for the growing electric vehicle market. Receiving the DOE grant affirms Albemarle's position as a global market leader and one of the only lithium companies currently producing battery-grade lithium from U.S. resources," said Masters. "Expanding our U.S. footprint also increases the speed of lithium processing and reduces greenhouse gas emissions from long-distance transportation of raw minerals. We hope this project spurs additional investment by others in the domestic EV battery supply chain, such as cathode manufacturers, battery makers, and auto manufacturers."
Albemarle expects the concentrator facility to create hundreds of construction and full-time jobs, and to supply up to 350,000 metric tons per year of spodumene concentrate to the company's previously announced mega-flex lithium conversion facility. The mega-flex conversion facility is expected to eventually produce up to 100,000 metric tons of battery-grade lithium per year to support domestic manufacturing of up to 1.6 million EVs per year. Albemarle is finalizing the site selection for the mega-flex conversion facility in the southeastern United States . That facility design would accommodate multiple feedstocks, including spodumene from the proposed reopening of the company's hard rock mine in Kings Mountain ; its existing lithium brine resources in Silver Peak, Nevada , and other global resources; as well as potential recycled lithium materials from existing batteries.
In addition to supporting the development of the concentrator, Albemarle will use a portion of the grant to support a $5 million mineral processing operator training program at Cleveland Community College , a $1.5 million minerals lab research program at Virginia Tech , and a $1.5 million minerals pilot plant and engineering training program at North Carolina State University's Asheville Minerals Research Lab.
Development of both the lithium concentrator and the mega-flex conversion facility, the proposed reopening of the Kings Mountain mine, and an active expansion of the Silver Peak facility are part of a larger Albemarle strategy to invest in the U.S. EV battery supply chain.
About Albemarle Corporation
ALBemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and 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, receipt of funds from the DOE grant, the expected costs, specifications and production capabilities of the planned Kings Mountain concentrator facility and the mega-flex conversion facility, and the number of jobs and educational programs created by Albemarle's facilities and grants, 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 to or delays in the application of the Bipartisan Infrastructure Law and funds authorized thereunder due to political disagreement, legislative processes or other factors; 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 and 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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SOURCE Albemarle Corporation
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Soil sampling outlines several lithium targets, with values up to 177ppm and coincident mapped pegmatites, plus large gold anomalies up to 2.5km-long in the Pilbara
Kairos Minerals Ltd (ASX: KAI)is pleased to advise that it has identified new gold and lithium targets at its 100 per cent-owned Croydon Project in WA’s Pilbara.
Highlights
Kairos Managing Director, Dr Peter Turner said: “These are very strong results which demonstrate that Croydon has outstanding potential to host extensive lithium and gold mineralisation.
“In light of these results, we are moving quickly to implement follow-up programs of field verification, mapping and drilling.
“It is important to note that the large Croydon Project was pegged for its geological characteristics and potential to host Hemi-style mineralisation – these results attest to its prospectivity not just for gold but for significant lithium mineralisation as well.
“The Viento-Fuego-Tierra-Aqua Prospects are significant gold anomalies arranged in clusters over 20km along a granitic margin and provide Kairos with an exciting pipeline of gold prospects with scale and tenor that warrant imminent drill-testing”.
The targets have been identified by the successful geochemical sampling program in which 1,304 soil samples were collected at 200m x 80m and 800m x 160m spacing and submitted for Ultrafine+™ analysis at the Labwest Laboratory in Perth.
The complete data analysis has identified a new gold target at the Viento prospect and four new lithium targets. The Tierra and Eastern 1 lithium targets show similar geological settings to the Mt Cassiterite pegmatite suite, part of the 259Mt @ 1.17%Li2O deposit, owned by Mineral Resources and Albemarle Corporation (ASX: MIN and NYSE: ALB).
Kairos has also completed the in-fill soil sampling program at Tierra and Aqua prospects, with taregts now ready to be drill-tested.
Lithium Targets
The geochemical soil sampling program defined four new lithium targets based on elevated lithium and pathfinder elements and the local geology (Figure 2).
Click here for the full ASX Release
This article includes content from Kairos 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.
Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") today announces results from the Phase II drilling program at its Far Lake Copper-Silver project located 80 km west of Thunder Bay, Ontario. The second phase of drilling at Far Lake totaled 2,696 m and was designed to test new areas associated with surface mineralization as well as various chargeability anomalies outlined by a deep, 3D IP geophysical survey. Highlights from this latest campaign include copper mineralization in the previously untested Centre Pond zone, intersected at a drill hole depth of 338 m (DDH FL-21-17).
Benton continues to be encouraged by the Cu mineralization identified in this intrusive complex and will continue to model the data collected for further targeting on the project. The Company is presently collecting up to 3,500 soil samples for multi-element analysis and is actively mapping and prospecting the property to generate further targets for drilling later this year. Geochemical anomalies identified in 2020 soil sampling led to the discovery at FL-20-11.
Additional sampling of DDH FL-20-11 (drilled in the first campaign) increased the width of a previously released mineralized interval by 4 m, expanding the mineralized zone to 0.15% Cu over 64.2 m including 0.35% Cu over 15.6 m and 1.08% Cu and 1.63 g/t Ag over 2.6 m.
Drill hole FL-20-11 is located approximately 1,800 m NW along the same structure as the Far Lake Discovery Zone where surface sampling produced Cu grades up to 22% over 0.7 m and first phase drill results yielded intercepts of 0.19% Cu and 0.34 g/t Ag over 33.6 m including 1.11% Cu and 1.33 g/t Ag over 3.1 m (FL-20-03). The Discovery Zone continues to be interrupted by mafic dykes and the Company continues to model the dykes to better understand the structure controlling mineralization and to avoid hitting them in future drilling within the mineralized zones.
Drill holes FL-21-13 & 14 were drilled in the vicinity of hole FL-20-11 (0.15% Cu over 64.2 m) and were successful at intersecting the granodiorite with advanced argillic alteration that hosts up to 5% chalcopyrite locally. Additionally, the granodiorite includes moderate phyllic (chl-ser), propylitic (qtz-epi-carb) and weak potassic (kspar-alb-qtz) alteration. Highlights from these holes include 0.25% Cu over 3 m and 0.12% Cu over 3 m, in holes 13 and 14 respectively.
FL-21-15 was nearly a 200 m eastern step-out from FL-20-11 and again intersected a chalcopyrite mineralized altered granodiorite containing up to 0.1% Cu over 14 m.
FL-21-16 was the deepest hole of the campaign and targeted a deep IP chargeability anomaly coinciding with mineralized surface samples. Anomalous copper mineralization was encountered throughout the hole, but more importantly intersected a major lithological contact between granitic and metasedimentary rocks at depth, which will be important when mapping the units on the property.
FL-21-17 was drilled 425 m below the Centre Pond zone and intersected mainly red granite with strong potassic, hematite alteration with magnetite. The coarse, red granite contains blebby chalcopyrite and pyrite. Highlights include 0.16% Cu over 6 m.
FL-21-18 targeted an airborne VLF anomaly along strike of the discovery zone. Copper mineralization was insignificant, but the hole intersected a wet structure that could account for the anomaly.
FL-21-19 was drilled below the discovery zone at depths deeper than the first phase of drilling. Sulphide mineralization is primarily seen as blebby or disseminated pyrite in zones of strong deformation as well as chalcopyrite in zones of strong deformation, as blebs in a silica-infilled breccias or as wisps in a quartz vein. Highlights include 0.13% Cu over 23 m.
FL-21-20 was a southern step-out from hole 19 and designed to intersect high-grade copper at depth. Unfortunately, this hole encountered another wide intrusive gabbro at an unexpected depth and angle and the mineralized zone was nearly missed altogether. Mineralized intervals include 0.12% Cu over 1.4 m and 0.11% Cu over 3 m.
In addition to copper mineralization, the campaign intersected weakly anomalous uranium in FL-21-16 (21ppm U over 10 m) and FL-21-19 (23.8ppm over 9 m).
Up-to-date copper results from Far Lake drilling are as follows:
*Previously released results
**No significant assays
A map showing the location of each hole is available on the Company's website (www.bentonresources.ca).
The Company would also like to announce that it has made the first anniversary payment pursuant to its option agreement with White Metal Resources Corp. ("White Metal") on the Far Lake property (see Company news release dated May 20, 2020). The Company paid White Metal $30,000 and issued 400,000 common shares of the Company.
Equity Holdings
Benton continues to be very encouraged by the progress made by Clean Air Metals Inc. ("Clean Air"), in which Benton holds 24.6 million shares. Clean Air has two drill rigs operating on the Thunder Bay North and Escape Lake Copper-Nickel-PGM projects and has released excellent drill results from its ongoing drill campaign. Benton looks forward to receiving ongoing encouraging drill results and future project advancement.
Benton also holds 3,940,000 shares of Quadro Resources Ltd, which is advancing various projects in Newfoundland and Ontario. Additionally, Benton holds 3.6 million shares of Maxtech Ventures Inc. Maxtech has an Option and Joint Venture agreement on Benton's Panama Lake gold project in the Red Lake mining region. Further, Benton holds 1.36 million shares of Metallica Metals advancing Benton's Saganaga (Starr) Gold project, and 1.0 million shares of Sokoman Minerals Corp. which continues to release excellent drill results from its Moosehead Project in Newfoundland. Benton recently entered into a strategic alliance with Sokoman Minerals for three large-scale joint venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland.
Benton also has two NW Ontario projects optioned to Rio Tinto Exploration Canada (the Bark Lake and West Baril Lake Copper-Nickel PGE projects).
QP
Nathan Sims (P.Geo.), Senior Exploration Manager for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
On behalf of the Board of Directors of Benton Resources Inc.,
"Stephen Stares"
Stephen Stares, President
About Benton Resources Inc.
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company's website. Most projects have an up-to-date 43-101 Report available.
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO
Phone: 807-475-7474
Email:sstares@bentonresources.ca
CHF Capital Markets
Cathy Hume, CEO
Phone: 416-868-1079 x251
Email:cathy@chfir.com
Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86499
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Cypress Development (TSXV:CYP, OTCQB:CYDVF) focuses on developing its 100 percent owned Clayton Valley lithium project in Nevada, USA. The company’s extensive exploration and development have led to discovering a world-class lithium-bearing claystone resource adjacent to the Albemarle (NYSE: ALB) Silver Peak mine, North America’s only lithium brine operation. The company’s discovery of the massive resource made Clayton Valley a premium American source of lithium that has the potential to impact the supply of lithium for the fast-growing energy storage battery market.
“We’re in Nevada and we’re in a country that badly needs lithium. We would be the most environmentally friendly project, and the lowest acid consumer. We’re able to eliminate sulfuric acid in our process and that would make us an extremely environmentally friendly, large, inexpensive low cost producer in the heart of the United States.” said Cypress Development CEO Dr. Bill Willoughby.
Sienna Resources Inc. (TSXV: SIE) (FSE: A1XCQ0) (OTC PINK: SNNAF) (the "Company") Sienna Resources is pleased to announce the commencement of field exploration at the Bleka Gold Project in Norway. The Bleka Vein was discovered in 1880 and mined intermittently until 1940, with historic production reported as 165 kilograms (i.e., ~ 5,300 troy ounces) of gold sourced from mineralized material with an average grade of 36 gt gold1. The historic Bleka vein is hosted in a deformed greenstone belt in southern Norway and was formed during two phases of quartz-veining events. Auriferous quartz veins characteristically contain Cu-Bi and tourmaline2. Compilation of historic reports combined with reconnaissance mapping revealed a series of under-explored vein swarms on the Bleka property. Earlier this year, a systematic sampling program to test the vein swarms was initiated to identify gold-rich vein sets. Results were encouraging with over 10% of samples showing anomalous gold results (6 of 52 rockchip samples contained more than 0.1 ppm Au)3. Historic reports show rock chip samples with similar quantities of anomalous results with some vein samples reaching up to 103 gt Au4. As a result of this field work, previously unknown quartz veins were discovered and follow-up soil sampling is currently being conducted in an attempt to identify additional buried quartz veins.
Going forward Sienna has planned more surface sampling coupled with a planned UVA supported magnetic survey which will delineating important structural features to generate high priority drill targets. Over the coming weeks the historic mine maps will be compiled to create 3D model of the known mineralization and drill planning will commence to test mineralized continuation down plunge and along strike from the existing mine workings. SIE has not performed sufficient work to verify the published data reported above, but SIE believes this information is considered reliable and relevant.
Bleka Property
To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/854/67548_db8fca9c54acebad_002full.jpg
Jason Gigliotti, President of Sienna Resources stated, "We are pleased to continue on the initial success that has been achieved at the Bleka gold project. We have a methodical, tactical approach to generate the highest priority drill targets in the coming weeks and look forward to what the next phase of work on the property will uncover. Not only are we active on this exciting gold project, we are also active in Finland and Ontario on our platinum-palladium projects."
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
About Sienna Resources
Sienna Resources Inc. is focused on exploring for and developing high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with an NYSE listed mining company on three separate projects in Scandinavia including the past-producing Bleka & Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems, the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being advanced by Palladium One Mining Inc. (PDM-TSX.v), and the Platinum-Palladium-Nickel Slättberg Project in Southern Sweden. In North America, Sienna's projects include the Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) 7.1-million-ounce palladium-equivalent Marathon Deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nevada, home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp's (NYSE: ALB) Silver Peak deposit and Tesla Motors Inc.'s (Nasdaq: TSLA) Gigafactory. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company's properties.
If you would like to be added to Sienna's email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources.
Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com
"Jason Gigliotti"
President, Director
Sienna Resources Inc.
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 press release.
1. Gamst & Thomsen (1998) Gold Exploration in The Seljord and Hjartdal area of Telemark, Southern Norway, Norwegian Geological Survey Report 4655. (https://dirmin.no/sites/default/files/bibliotek/BV4655.pdf)
2. Wilberg & Røsholt (1998) Exploration Report. Bleka Concession, Telemark South Norway, Norwegian Geologic Survey Report 4661. (https://dirmin.no/sites/default/files/bibliotek/BV4661.pdf)
3. Samples were collected in accordance with industry standards best practices. Samples are collected and sent to ALS Malå, Sweden prep lab before they are sent for analysis at ALS Ireland. Pulps are analyzed using four acid super trace analysis (ME-MS61) and cyanide leach with AAS finish (Au-AA14). Accredited control samples (blanks and standards) are inserted into the sample intervals regularly.
4. Harpøth & Gregersen (1984) Gold Exploration in the Belka Fold area, Telemark, Norwegian Geological Survey Report 1656. (https://dirmin.no/sites/default/files/bibliotek/BV1656.pdf)
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67548
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Sienna Resources Inc. (TSXV: SIE) (FSE: A1XCQ0) (OTCBB: SNNAF) (the "Company") Sienna has closed its financing consisting of 2,222,222 flow-through shares for gross proceeds of $200,000. No warrants were issued in the financing. An aggregate finders' fee of $12,000 was paid in connection with the private placement. All the securities issued in connection with this private placement have a hold period that expires on February 17, 2021. Proceeds will be used towards the Company's planned work programs. The private placement is subject to final approval of the TSX Venture Exchange and was originally announced on October 14, 2020. Please refer to that news release.
This flow through will be allocated primarily for Sienna's Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) 7.1-million-ounce palladium-equivalent Marathon Deposit. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company's properties.
Jason Gigliotti states, "We are very pleased to have closed this placement, above the current market price and with no warrants attached, which will enable immediate work to begin on our Marathon North Platinum-Palladium Property in Ontario. Not only do we plan to be active on this exciting project we are also very active in Scandinavia on our platinum-palladium project in Finland and we expect to be drilling on our Norway gold project making the remainder of 2020 a very active period for Sienna. We are fully financed for all of our planned work programs in 2020 and look forward to what we uncover from having boots on the ground in at least 3 countries in the coming weeks."
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
About Sienna Resources
Sienna Resources Inc. is focused on exploring for and developing high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with an NYSE listed mining company on three separate projects in Scandinavia including the past-producing Bleka & Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems, the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being advanced by Palladium One Mining Inc. (PDM-TSX.v), and the Platinum-Palladium-Nickel Slättberg Project in Southern Sweden. In North America, Sienna's projects include the Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) 7.1-million-ounce palladium-equivalent Marathon Deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nevada, home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp's (NYSE: ALB) Silver Peak deposit and Tesla Motors Inc.'s (Nasdaq: TSLA) Gigafactory. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company's properties.
None of the securities sold in connection with the private placement will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
If you would like to be added to Sienna's email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources.
Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com
"Jason Gigliotti"
President, Director
Sienna Resources Inc.
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 press release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66387
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High-Grade Continues at Depth
Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to provide an update on the program of resource definition drilling at the Company’s 100% owned high-grade Colina Lithium Prospect (“Colina”) in Brazil (Appendix 1 and Figure 1).
HIGHLIGHTS
“The Company’s maiden JORC Mineral Resource Estimate is on track to be delivered in December after incorporating these final results which continue to showcase the consistent nature of the pegmatite mineralisation at Colina.
“With the MRE drilling completed at Colina, the rigs can shift their focus to the recently discovered Colina West pegmatites with the aim of incorporating this second area into the PEA and other studies that the Company has underway.”
Colina Prospect – Resource Definition Drilling
Resource definition diamond drilling and assaying is now complete. With the final results being incorporated into the resource model, a December 2022 release of a maiden MRE for Colina is on schedule.
Click here for the full ASX Release
This article includes content from Latin Resources 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.
Click here to read the previous lithium market update.
Following a 2021 that saw lithium rally to all-time highs, prices began to stabilize in the first half of 2022.
Demand for the battery metal is expected to soar in the coming decades, with questions about supply increasing every day.
How did lithium perform in the third quarter of 2022, and what’s ahead for the metal in the near term? Read on for an overview of the main news that impacted the lithium market in Q3, plus a look at what investors should watch out for the rest of the year.
Lithium kicked off the year on a positive note, with prices trading at all-time highs on the back of increased demand from the electric vehicle (EV) sector. Throughout the first half of the year, prices stabilized at historical highs and remained higher than expected due to renewed demand from China post-lockdowns.
So far in 2022, prices have increased more than 123 percent, according to Benchmark Mineral Intelligence data.
In Q3, lithium prices in the Chinese domestic market saw strong upward momentum, Daisy Jennings-Gray of Benchmark Mineral Intelligence told the Investing News Network.
“(This was) signaled towards the end of Q2, when COVID-19 restrictions were lifted in Shanghai at the start of June,” she said. “With demand picking up towards the end of the quarter, and ahead of Golden Week holiday, domestic prices sustained upward momentum throughout the quarter, hitting fresh highs in September.”
Despite the macroeconomic headwinds, the Chinese domestic market appears so far to have been unaffected by the economic downturn, with the EV industry performing very well even though other sectors have experienced weakness.
“Outside of China, there have been murmurs of weakening demand from traditional sectors, particularly in Europe and North America, although this had little downward bearing on pricing as supply remained very tight,” Jennings-Gray said.
The EV industry is the main lithium demand driver, and the sector has been experiencing growth year after year. According to the International Energy Agency (IEA), EV sales hit a record high in 2021, despite supply chain bottlenecks and the COVID-19 pandemic.
Compared with 2020, sales nearly doubled to 6.6 million in 2021. In the first quarter of 2022, EV sales came to 2 million, a 75 percent increase compared to the first three months of 2021.
Sales increased further in H1 2022, and the IEA estimates that EVs will account for around a 13 percent share of the market.
That’s good news for lithium, which has seen demand remain strong as a result. In the third quarter, within China, carbonate demand remained robust due to strong demand for lithium-iron–phosphate battery chemistry.
“However towards the end of Q3, hydroxide pricing began to also gain some momentum as automakers looked to increase production rates to improve sales figures ahead of the China EV subsidies being removed on January 1, 2023, even for high-nickel chemistries, which have generally seen less market share so far in 2022,” Jennings-Gray said.
Internationally, hydroxide remains at a premium to carbonate under tight supply, as per Benchmark Mineral Intelligence data.
The last quarter of the year is typically the strongest period for EV sales in China, and with the subsidies set to end on January 1, 2023, automakers are already picking up production rates to improve sales figures beforehand. “As such, demand from the battery manufacturers and cathode producers is expected to pick up significantly,” Jennings-Gray said. “On the flip side, it does seem traditional industries are shrinking slightly, but given how tight supply is, it’s looking like any additional relief this could provide on the demand side will have minimal impact, with any extra material snapped up by the battery sector.”
Looking over to supply, production from the brine projects in China's Qinghai province will begin to wane entering the winter months, as temperatures cool and evaporation rates slow down.
“At the same time, there is limited additional supply expected to come online or ramp up during the quarter, and with demand expected to continue to grow, it looks as if supply is set to tighten even further,” Jennings-Gray said.
As the fourth quarter of the year continues to unfold, there are a few factors that could impact the lithium space.
One catalyst for the market to keep an eye on is how quickly spodumene producers, which are targeting a capacity ramp up by the end of the year, are able to achieve their ambitions, Jennings-Gray said.
“The lithium market facing further supply delays could drive upward pricing sentiment," she noted.
EV sales in China will also be a key factor in the last quarter of the year, as record-breaking figures so far in Q3 look to point towards a very strong Q4, which is typically the quarter with the best production and sales figures.
“Developments in South America in regards to nationalism of resources will also be key, with the region playing such a vital role in the lithium market. And of course, any clarifications or developments in the Inflation Reduction Act legislation in the US could further boost investment into projects in North America or Free Trade Agreement countries,” Jennings-Gray said.
In terms of how prices could perform going forward, Benchmark Mineral Intelligence expects little downside to pricing in Q4 2022 as demand is set to ramp up; without any extra supply coming to market, availability of material will be even tighter.
In China, it seems that hydroxide is already closing the gap that carbonate pricing has developed, Jennings-Gray said, as automakers of EVs with high-nickel batteries ramp up production and therefore drive up hydroxide demand.
“Additionally, with spodumene prices continuing to rise, this limits any hydroxide downside, and thus it seems the two chemicals are likely to perform near to parity in Q4 within the domestic market,” she added.
Outside of China, the extremely tight supply of hydroxide combined with its production cost from carbonate means it is very likely to stay at a premium above carbonate.
“Particularly in Japan and Korea, where demand from cathode manufacturers has remained stable but high through most of the year,” Jennings-Gray added.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
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Power Metals Corp. (" Power Metals " or the " Company ") (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to comment and provide information to its recent banner press release on Oct. 13 th 2022. Power Metals is extremely thrilled with the recently announced high-grade cesium discovery in the West Joe Dyke at the Company's 100% owned Case Lake Property in Cochrane Ontario. The cesium (Cs) mineralization is enclosed in lithium (Li) and tantalum (Ta) mineralization to make West Joe a three-commodity deposit. The ongoing 2022 drill program intersected 24.07% Cs 2 O over 1.0 m and 7.65% Cs 2 O and 1.45% Li 2 O over 7.09 m additional the lithium mineralization is the highest found at Case Lake with 4.75% Li 2 O, 2.71% Cs 2 O and 396 ppm Ta over 2.0 m in white to pink coarse-grained spodumene.
In January of this year, world-leader Sinomine Resource Group ("Sinomine") joined Power Metals Corp. with a sizable investment after Power Metals' initial discovery of cesium during the 2018-2019 drilling campaign (PWM press release dated November 13 , 2018). Sinomine currently owns two of the three occurrences of cesium that have been commercially mined, making them the ideal partner for Power Metals Corp.
Johnathan More , Chairman & CEO of Power Metals stated, "Sinomine's involvement with Power Metals is very strategic to both parties. There is a direct railway line from the town of Cochrane to the Tanco mine. Most importantly Sinomine has been involved in all areas of past cesium production around the world. Additionally, we are still waiting for several more assays currently at the lab and will be releasing them as soon as they are available."
The West Joe pollucite zone has Cs grades similar to that of Sinclair cesium mine, Australia now held by Essential Metals Limited (ASX: ESS). In addition to the Cs grade, West Joe has the advantages that the pollucite has shallow depths of less than 50 m below surface and road access to make it easy for future extraction. Another advantage of West Joe is that it has three economic commodities in the same zone: lithium, cesium and tantalum. Canadian, Ontario and United States governments have labelled all three commodities as critical metals.
Cesium is a chemical element with the symbol Cs and atomic number in the periodic table. The ore mineral of Cesium is pollucite, a Cs aluminum silicate mineral.
Pollucite crystallizes in highly fractionated lithium pegmatite dykes. Very few pegmatites are evolved enough to contain crystals of pollucite. There are only five recorded occurrences of pollucite in Ontario of which Power Metals owns three occurrences: West Joe Dyke on Case Lake Property, Marko's pegmatite on Paterson Lake Property and Tot Lake pegmatite on Gullwing-Tot Lakes Property.
Globally, there are three occurrences for cesium that have been commercially mined: Tanco pegmatite mine, Manitoba, Canada , Bikita pegmatite mine, Zimbabwe and Sinclair mine, Australia . The Tanco underground mine has been in operation since the late 1960's. Tanco is mined for tantalum (Ta) ore concentrates, pyroceramic spodumene (Li), pollucite (Cs) and rubidium (Rb). The pollucite is processed on site to produce cesium formate fluid as a heavy mud for offshore oil drilling in the North Sea. Sinomine Resources Group bought the Tanco mine from Cabot Corporation in 2019 including the underground room and pillar mine, spodumene concentrator mill and cesium chemical processing facility and the mine which employs about 100 workers.
The Bikita mine, Masvingo Province, Zimbabwe has been in operation since 1950. Its main products are technical grade petalite concentrates (Li ore) used in glass and ceramics and pollucite (Cs ore). Sinomine Resources Group bought the Bikita open pit mine in January 2022 . Sinomine plans to produce spodumene, to build a plant and expand the existing mining operations at Bikita.
The Sinclair mine, Western Australia was drilled by Pioneer Resources Limited (ASX: PIO) ("Pioneer") in 2016 for petalite (Li ore) and pollucite was discovered and confirmed in November 2016 (Pioneer Resources press release dated Nov. 14 , 2016). Pioneer announced that it entered into an offtake agreement with Cabot Corporation ("Cabot") to buy 100% of the cesium ore extracted from Sinclair Zone (press release dated June 20, 2018 ). Sinclair mine was Australia's first ever commercial cesium producer. Pioneer announced on 22 January 2019 that approximately 19,000 tonnes of pollucite-bearing rock with an average grade of 9.1% Cs 2 O has been mined and crushed, to be sold within a specification under the Offtake and Loan arrangement in place with Cabot. Cabot received the first shipment of cesium in April 2019 at the Tanco mine (press release Apr. 17, 2019 ). Pioneer entered into a separate sales agreement and off-take with Sinomine Specialty Fluids for 7,300 tonnes of ore with an estimated average grade of 4.5% Cs 2 O consisting of pollucite, lepidolite and quartz (press release March 16, 2020 ).
The primary use of the cesium mined at Tanco, Manitoba is for cesium formate brines used for high pressure, high temperature well drilling for oil and gas. Cesium bromide is used in infrared detectors, optics, photoelectric cells, scintillation counters and spectrometers (United States Geological Survey Mineral Commodity Summaries 2022). Cesium isotopes are used in atomic resonance frequency in standard atomic clocks which play a vital role in aircraft guidance systems, global positioning satellites and internet and cellular telephone transmissions (USGS Mineral Commodity Summaries 2022).
Pioneer sold 19,000 tonnes of pollucite ore with an average grade of 9.1 % Cs 2 O from the Sinclair mine for an expected total of A$17.4 million between Jan and Nov. 2019 , excluding the sales of the low-grade material (press release dated Sep. 11, 2019 ).
Pioneer sold 7,300 tonnes of pollucite ore with an estimated average grade of 4.5 % Cs 2 O for approximately $1.2 million from its Sinclair mine (press release dated March 16, 2020 ).
Dr. Julie Selway , VP of Exploration commented, "Power Metals is excited to have such a rare critical mineral on the Case Lake Property and the ore grade lithium and tantalum at shallow depths is an extra bonus."
The drill core was sampled so that 1 m of the Case Batholith tonalite host rock was sampled followed by 1 m long samples of the pegmatite dyke and 1 m of the Case Batholith. The sampling followed lithology boundaries so that only one lithology unit is within a sample, except for the Cochrane by Power Metals' geologists. The core was prepared at SGS Garson and analyzed at SGS Burnaby, British Columbia which has ISO 17025 certification. Every 20 samples included one external quartz blank, one external lithium standard and one core duplicate. The ore grade Li 2 O% was prepared by sodium peroxide fusion with analysis by ICP-OES with a detection limit of 0.002 % Li 2 O. A Quality Control review of the standards, blanks and core duplicates indicated that they all passed. The ore grade Cs 2 O% for > 10000 ppm Cs was prepared by alkaline metal digestion with analysis by FAAS with a detection limit of 0.002 % Cs. Ore grade cesium was analyzed by SGS Lakefield, Ontario which also has ISO 17025 certification.
Case Lake Property is located 80 km east of Cochrane , northeastern Ontario close to the Ontario – Quebec border. Case Lake Property consists of 585 cell claims in Steele, Case, Scapa, Pliny, Abbotsford and Challies townships, Larder Lake Mining Division. The Property is 10 km x 9.5 km in size with 14 identified tonalite domes. The Case Lake pegmatite swarm consists of six spodumene dykes: North, Main, South, East and Northeast Dykes on the Henry Dome and the West Joe Dyke on a new tonalite dome. The Case Lake Property is owned 100% by Power Metals Corp. A National Instrument 43-101 Technical Report has been prepared on Case Lake Property and filed on July 18, 2017 .
Julie Selway , Ph.D., P.Geo. supervised the preparation of the scientific and technical disclosure in this news release. Dr. Selway is the VP of Exploration for Power Metals and the Qualified Person ("QP") as defined by National Instrument 43-101. Dr. Selway is supervising the exploration program at Case Lake. Dr. Selway completed a Ph.D. on granitic pegmatites in 1999 and worked for 3 years as a pegmatite geoscientist for the Ontario Geological Survey. Dr. Selway also has twenty-three scientific journal articles on pegmatites.
Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high quality mining projects. We are committed to building an arsenal of projects in both lithium and high-growth specialty metals and minerals. We see an unprecedented opportunity to supply the tremendous growth of the lithium battery and clean-technology industries. Learn more at www.powermetalscorp.com
ON BEHALF OF THE BOARD,
Johnathan More , Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold in the United States , or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
This press release contains forward-looking information based on current expectations, including the use of funds raised under the Offering. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com .
This press 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. The TSXV has neither reviewed nor approved the contents of this press release.
SOURCE POWER METALS CORP
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2022/19/c1351.html
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HIGHLIGHTS
The gravity method measures spatial variations in the Earth’s gravity field caused by contrasts in rock density. The intrusion of an elongated mineralised pegmatite swarm into mafic and ultramafic basement rocks at Cancet is anticipated to be expressed as a detectable, subdued gravity response.
The customised gravity processing accurately delineates the known pegmatite intercepts and suggests the main Cancet pegmatite could extend beyond existing drilling over 700m to the east. Furthermore, a previously untested 1,100m-long feature analogous to the main Cancet pegmatite lies approximately 200m to the north under shallow cover (see Figure 1).
Ground gravity surveying has since been extended to prospects outside the main Cancet area and is due to commence at Adina imminently.
Applications for approval to drill the newly identified targets will be submitted shortly and it is expected that they will be drilled early in 2023 once the current drilling campaign has concluded.
WINSOME’S MANAGING DIRECTOR CHRIS EVANS SAID:
“We were impressed to see how well the buried Cancet orebody can be traced in the ground gravity data. We are very excited to have identified over 1,800m of prospective strike which increases the Cancet exploration target footprint by over 250%. Timing could not have been better with the drill rig having just commenced at Cancet . The use of geophysics is unconventional for pegmatite exploration, but it is the natural strategy in areas where basement rocks are hidden by shallow cover and where systematic mapping and sampling fails. We are glad to have partnered with an innovative geophysical consultancy specialising in pegmatite exploration to deliver new undercover targets across our tenure without any environmental impact.”
Click here for the full ASX Release
This article includes content from Winsome Resources 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.
Charger Metals NL (ASX: CHR, “Charger” or the “Company”) is pleased to provide an update for its planned drilling program and exploration at the Lake Johnston Lithium Project.
Charger’s Managing Director, David Crook, commented:
“With the required Lake Johnston surveys progressing well, Charger looks forward having our POW approved shortly and drilling starting soon after. The Company believes that the Medcalf Lithium Prospect provides an excellent, drill-ready opportunity, targeting outcropping spodumene pegmatites.”
Click here for the full ASX Release
This article includes content from Charger Metals, 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.
Electric Royalties CEO Eyes Domestic Metals Supply for Rising Gigafactoriesyoutu.be
Gigafactories need access to domestic supply of critical metals needed to produce electric vehicles, according to Electric Royalties (TSXV:ELEC) CEO Brendan Yurik.
Yurik explained that current production of critical metals, like graphite, tin, nickel and cobalt, is heavily concentrated in China, Indonesia and the Democratic Republic of Congo. He said that this presents potential supply safety concerns for the gigafactories that will soon rise in North America, Europe and Australia. It also runs counter to the goal of net-zero emissions.
“If the whole point of this transition is for us to reduce our carbon footprint, get to zero emissions, it doesn't make much sense to be shipping from halfway across the world to gigafactories that are going to be up in North America, Europe and Australia. Having a domestic source that's going to be nearby these factories, I think, is going to be an essential thing,” Yurik said.
Electric Royalties has 20 royalties to date, with 40 percent of its portfolio comprising lithium assets, and the lithium price has nearly tripled over the last 12 months. The company also has exposure to all nine clean energy metals that it's targeting, according to Yurik.
“We have cash flow coming out of our producing royalty in the US, which we closed last year," he said. "And we've got a number of other royalties that we're expecting to come into production as we move forward into 2023 and 2024.”
The company has raised more than C$400 million in the last 18 months, all of which will be used to move its current assets forward, according to Yurik.
Watch the full interview with Electric Royalties CEO Brendan Yurik above.
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