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Chile’s SQM sees 8-10% growth in lithium demand this year $NAM.ca $DGO.ca $BFF.ca $SX.ca $FMR.ca

Posted by AGORACOM-JC at 11:22 AM on Wednesday, February 22nd, 2017
  • “The prices in the lithium market and the growth in demand have been quite relevant in recent years. We expect growth in demand for this product of between 8 and 10 percent,” Illanes said.

Feb 19 Chile’s SQM expects demand for lithium to grow between 8 percent and 10 percent this year and is working to improve financial performance by 2020, an executive told local paper El Mercurio on Sunday.

SQM, one of the world’s biggest producers of lithium and iodine, has been trying to consolidate its position with investments abroad.

In 2020 SQM expects annual earnings before interest, taxes, depreciation and amortization (EBITDA) of $1 billion. Currently quarterly EBITDA is less than $200 million, Gerardo Illanes, vice president of finances, told the newspaper.

“The prices in the lithium market and the growth in demand have been quite relevant in recent years. We expect growth in demand for this product of between 8 and 10 percent,” Illanes said.

SQM plans to invest $100 million to increase its production capacity this year, which combined with its capital injection in Argentina would lead to a total investment of around $300 million, he said.

Illanes said SQM would not have a problem financing its projects although he did not rule out tapping debt markets. (Reporting by Fabián Andrés Cambero; Writing by Caroline Stauffer; Editing by Jeffrey Benkoe)

Source: http://www.reuters.com/article/sqm-demand-idUSL1N1G407H

Durango Announces Acquisition of Bentonite, Perlite and Zeolite Projects in BC $DGO.ca

Posted by AGORACOM-JC at 5:12 PM on Thursday, February 16th, 2017

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  • Acquired a 100% interest in British Columbia industrial mineral claims covering five projects which include bentonite, perlite, and zeolite BC MINFILE occurrences

Vancouver, BC / February 16, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) is pleased to announce that it has acquired a 100% interest in British Columbia industrial mineral claims covering five projects which include bentonite, perlite, and zeolite BC MINFILE occurrences.

One zeolite project is located adjacent to the recently announced acquisition by Ashburton Ventures (TSX.V-ABR), as outlined in the Ashburton news release dated January 30, 2017. The Durango acquisition overstakes the irregular-shaped mining lease of the Z-1 zeolite quarry/mine near Cache Creek, British Columbia, being acquired by Ashburton and is within approximately 800 metres of the centre of the mining lease.

The second zeolite project is also located in the Cache Creek area, along Hwy 1/Hwy 97. Durango is acquiring 100% of an occurrence of zeolite, known as Perry Ranch, reported in 2011. The acquisition covers an area that is reported as “…approximately 300 metres long and contains several layers to 10 metres depth.” (1)

The third claim block covers the Uncha Lake perlite occurrence (2), and is located near Burns Lake, British Columbia. Past work discusses the occurrences as a perlite unit interbedded within porphyritic rhyolite layers which are reported to be 2.0 – 9.0 metres thick. The perlite is light grey to pale greenish-grey with some perlitic glass occurrences. The perlite generally dips shallowly to the south and is 7.6 to 23.9 metres thick. The report goes on to state that historical reports indicate that in 1955, nineteen trenches were exposed at approximately 45 metre intervals, exposing 2,400 metres of bedrock. Six perlite layers along a zone 850 metres long and 500 metres wide were exposed. (2) (3)

Durango is also acquiring the past-producing Princeton Bentonite occurrence, near Princeton, British Columbia, which was historically reported to have produced 771 tonnes of bentonite between 1926 and 1944. (4)

Three additional titles adjacent to the Dot Mordenite BC MINFILE occurrence near Merritt, British Columbia, which has been reported as a potential zeolite prospect, area also part of this land package. (5) (6)

Further details on these acquisitions will be provided as they become available.

About Zeolite, Perlite, and Bentonite

Zeolites are microporous aluminosilicate minerals commonly used as commercial absorbents and catalysts in the petrochemical industry as well as detergents. They are also widely used as ion-exchange beds in domestic and commercial water purification, softening, and aquaculture applications. Zeolite is also used in growing media, animal feed supplements, composting, and alternative medicine.

Perlite is an amorphous volcanic glass, typically formed by the hydration of obsidian. It has the unusual property of greatly expanding when heated sufficiently. Perlite is primarily used in construction in the production of lightweight plasters, mortars and cement formulations, and in well cements for oil and gas drilling. In horticulture, perlite can be used as a soil amendment or alone as a medium for hydroponics or for starting cuttings.

Bentonite is an absorbent aluminum phyllosilicate clay consisting mostly of montmorillonite. The main uses of bentonite are for drilling mud, binder (e.g. foundry-sand bond, iron ore pelletizer), purifier, absorbent, and as a groundwater barrier. Bentonite is also used in some forms of alternative medicine.

Durango has agreed to pay 1,000,000 common shares to an arm’s length vendor for the 100% acquisition of all projects subject to TSX Venture Exchange approval.

The technical contents of this release were approved by Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101. The property has not yet been the subject of a National Instrument 43-101 report.

References

  1. (1)ARIS (BC Assessment Report Database) Report 33072
  2. (2)ARIS (BC Assessment Report Database) Report 20026
  3. (3)BC MINFILE 093F 026: “UNCHA LAKE”
  4. (4)BC MINFILE 092HSE151: “PRINCETON BENTONITE”
  5. (5)BC MINFILE 092ISW108: “DOT MORDENITE”
  6. (6)ARIS (BC Assessment Report Database) Report 30607

About Durango

Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and certain lithium properties near the Whabouchi mine, the Buckshot graphite property near the Miller Mine in Quebec, the Dianna Lake silver project in northern Saskatchewan, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario, as well as three sets of claims in the Labrador nickel corridor.

For further information on Durango, please refer to its SEDAR profile at www.sedar.com.

Marcy Kiesman, Chief Executive Officer

Telephone: 604.428.2900 or 604.339.2243

Facsimile: 888.266.3983

Email: durangoresourcesinc@gmail.com

Website: www.durangoresourcesinc.com

Forward-Looking Statements

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to the development, commencement and completion of future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.

Neither 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.

 

Lithium: The Fuel of the Green Revolution $DGO.ca $FMR.ca $SX.ca $BFF.ca $NAM.ca

Posted by AGORACOM-JC at 4:26 PM on Wednesday, February 15th, 2017

VIDEO FEATURE: New Age Metals – 121 Mining Investment Cape Town 2017 $NAM.ca

Posted by AGORACOM-JC at 4:32 PM on Monday, February 13th, 2017

Pacific North West Capital Announces Effective Date of Share Consolidation and Name Change $PFN.ca

Posted by AGORACOM-JC at 4:35 PM on Tuesday, January 31st, 2017

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  • Received approval to implement its proposed three (3) old for one (1) new share consolidation and name change to New Age Metals Inc.
  • Effective at the opening of the market on February 1, 2017 the common shares of Pacific North West Capital Corp. will be delisted and the post-consolidated shares of New Age Metals Inc. will begin trading on the TSX Venture Exchange under its new trading symbol “NAM”

Vancouver, British Columbia / January 31, 2017 - Pacific North West Capital Corp. (“PFN”) (TSXV: PFN OTCQB: PAWEF FSE: P7J) announces that further to news release of January 25, 2017, PFN has received approval to implement its proposed three (3) old for one (1) new share consolidation and name change to New Age Metals Inc. (the “Company”). Effective at the opening of the market on February 1, 2017 the common shares of Pacific North West Capital Corp. will be delisted and the post-consolidated shares of New AgeMetals Inc. will begin trading on the TSX Venture Exchange under its new trading symbol “NAM”.

Letters of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their pre-consolidated common shares for replacement certificates of New Age Metals Inc. representing the number of post-consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre-consolidated common shares will be deemed to represent the number of post-consolidated common shares of New Age Metals Inc. that the holder thereof is entitled to as a result of the consolidation. The Company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional shares equal or greater to one-half will be rounded to the next whole share.

The Company’s website, newagemetals.com, is currently under construction and is slated for completion in the upcoming days. During this transition period, please visit pfncapital.com for more information about the Company’s projects.

On behalf of the Board of Directors

“Harry Barr”

Harry G. Barr

Chairman and CEO

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.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

Pacific North West Capital Applies for Share Consolidation and Name Change to New Age Metals Inc. $PFN.ca

Posted by AGORACOM-JC at 4:25 PM on Wednesday, January 25th, 2017

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  • Made application to the TSX Venture Exchange  to implement a name change and share consolidation to better reflect the Company’s business plan and its two mineral divisions

Vancouver, British Columbia / January 25, 2017 -Pacific North West Capital Corp. (“PFN”)(TSXV: PFN OTCQB: PAWEF FSE: P7J)announces it has made application to the TSX Venture Exchange (the “Exchange”) to implement a name change and share consolidation to better reflect the Company’s business plan and its two mineral divisions. The Company’s Board of Directors have approved a name change of the Company from Pacific North West Capital to New Age Metals Inc. In addition, due to market conditions, regulatory minimum pricing requirements for financings and other considerations, the Board of Directors have also authorized a consolidation of the Company’s issued and outstanding shares on the basis of three (3) shares of Pacific North West Capital Corp. for one (1) new share of New Age Metals Inc.

The 100,098,596 common shares currently issued and outstanding will be reduced to approximately 33,366,199 post-consolidated common shares. The Company will not be issuing fractional shares as a result of the consolidation. Instead, all fractional shares equal or greater to one-half will be rounded to the next whole share. The Company’s outstanding stock options and share purchase warrants will be adjusted accordingly upon completion of the consolidation.

Upon receipt of regulatory approval, a letter of transmittal will be sent to the registered shareholders providing instructions to surrender the share certificates evidencing their pre-consolidated common shares for replacement certificates of New Age Metals Inc. representing the number of post-consolidated common shares they are entitled to as a result of the consolidation. Until surrendered, each certificate representing the pre-consolidated common shares will be deemed to represent the number of post-consolidated common shares of New Age Metals Inc. that the holder thereof is entitled to as a result of the consolidation.

The Name Change and Consolidation are subject to regulatory approval. The Company anticipates the transaction to close early February, 2017. Until such regulatory approvals have been received, the pre-consolidated shares will continue to trade on the TSX Venture Exchange under the current trading symbol “PFN”.

On behalf of the Board of Directors

“Harry Barr”

Harry G. Barr

Chairman and CEO

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.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

Fairmont Resources Closes Final Tranche of Financing $FMR.ca

Posted by AGORACOM-JC at 3:35 PM on Monday, January 23rd, 2017

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  • Closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units  at a priceof $0.07 per NFT Unit for gross proceeds of $150,000
  • Fairmont issued a total of 1,425,000 flow-through units

VANCOUVER, BRITISH COLUMBIA–(Jan. 23, 2017) - Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce that is has closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of $150,000. Under the entire financing, Fairmont issued a total of 1,425,000 flow-through units (the “FT Units”) for gross proceeds of $114,000 and 2,142,857 NFT Units for gross proceeds of $150,000.

Each NFT Unit is comprised of one non-flow-through common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.

The NFT securities issued under the financing will be subject to resale restrictions expiring May 22, 2017. The previously closed FT securities (See release of December 30, 2016) are subject to resale restrictions expiring May 1, 2017.

No finder’s fees were paid on this financing.

The proceeds from the NFT private placement will be used for general working capital.

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn
President and CEO, Fairmont Resources Inc.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE.

Michael A. Dehn
President and CEO
Fairmont Resources Inc.
647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

Doren Quinton
President
QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca

VANCOUVER, BRITISH COLUMBIA–(Jan. 23, 2017) - Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce that is has closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of $150,000. Under the entire financing, Fairmont issued a total of 1,425,000 flow-through units (the “FT Units”) for gross proceeds of $114,000 and 2,142,857 NFT Units for gross proceeds of $150,000.

Each NFT Unit is comprised of one non-flow-through common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.

The NFT securities issued under the financing will be subject to resale restrictions expiring May 22, 2017. The previously closed FT securities (See release of December 30, 2016) are subject to resale restrictions expiring May 1, 2017.

No finder’s fees were paid on this financing.

The proceeds from the NFT private placement will be used for general working capital.

About Fairmont Resources Inc.

Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.

Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have displayed exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.

On behalf of the Board of Directors,

Michael A. Dehn
President and CEO, Fairmont Resources Inc.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont’s control. Such factors include, among other things: risks and uncertainties relating to Fairmont’s ability to complete the proposed private placement financing, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE.

Michael A. Dehn
President and CEO
Fairmont Resources Inc.
647-477-2382
michael@fairmontresources.ca
www.fairmontresources.ca

Doren Quinton
President
QIS Capital
250-377-1182
info@smallcaps.ca
www.smallcaps.ca

Durango to Drill Test NMX East Lithium Project $DGO.ca

Posted by AGORACOM-JC at 10:30 AM on Wednesday, January 18th, 2017

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  • Planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone

Vancouver, BC / January 18, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) announces that planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone.

On January 17th, 2017 Nemaska Lithium announced “With the Doris zone discovery in late fall it is prudent to consider the possible impact of its eastward continuance…” In the news release of November 28th, 2016, Nemaska Lithium stated, “the Doris zone, contains 5 interconnected dykes and has now been confirmed on 420m of lateral extension and up to a maximum depth of 440m where it joins the main dyke.” “Doris appears to run parallel to main zone which extends for 1.2km to the northeast.”

Durango’s 100% wholly owned NMX East ground adjoins Nemaska Lithium on the eastern perimeter where Nemaska Lithium’s Doris zone remains open, less than 1.5km from the proposed mining pit. Durango’s geological team confirmed a pegmatitic intrusion running parallel to Nemaska Lithium’s main zone where it tested positive for anomalous Lithium and rubidium as per the news release on September 21, 2016. A map of the zones comparative with Nemaska Lithium Inc. may be viewed on the Durango website.

About Durango

Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Quebec, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario.

For further information on Durango, please refer to its SEDAR profile at www.sedar.com.

Marcy Kiesman, Chief Executive Officer

Telephone: 604.428.2900 or 604.339.2243

Facsimile: 888.266.3983

Email: durangoresourcesinc@gmail.com

Website: www.durangoresourcesinc.com

Forward-Looking Statements

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.

Neither 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.

Nevada Energy Announces Closing of Disposition of the Black Rock Desert Lithium Project in Nevada $BFF.ca

Posted by AGORACOM-JC at 12:31 PM on Friday, January 6th, 2017

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  • Pursuant to an Option Agreement dated November 10, 2016 (the “Agreement”) between the Company and LiCo Energy Metals Inc. (“LiCo”), whereby LiCo can earn an undivided 70% interest, subject to a 3% net smelter return royalty (“NSR”), in 199 placer claims located in southwest Black Rock Desert, Nevada

January 6, 2017 / Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company” (TSX-V: BFF; OTCQB: SSMLF) (Frankfurt: A2AFBV) announces that further to its news releases dated November 11, 2016 and December 15, 2016 and further to the conditional acceptance from the TSX Venture Exchange (the “Exchange”) dated January 5, 2017 pursuant to an Option Agreement dated November 10, 2016 (the “Agreement”) between the Company and LiCo Energy Metals Inc. (“LiCo”), whereby LiCo can earn an undivided 70% interest, subject to a 3% net smelter return royalty (“NSR”), in 199 placer claims located in southwest Black Rock Desert, Nevada, the transaction has now closed, subject to final acceptance of from the Exchange.

As consideration for the transaction the Company will receive from LiCo :

  • -US$170,000 cash;-4,500,000 shares over two years; and-US $1,250,000 in exploration commitment within three years.

About Nevada Energy Metals: http://nevadaenergymetals.com/

Nevada Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has 100% ownership in 78 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America (under option to Lithium America who can earn a 70% interest); 100% interest in the 100 claim Teels Marsh West Project covering 2000 acres (809 hectares) in Mineral County, Nevada; 100% interest in the San Emidio Desert Project consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; 100% interest in the 710 claim Dixie Valley Project covering about 5746 hectares (22 square miles) of playa and alluvial fan; 100% interest in the BSV Lithium Project – 160 claims, with an area of 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Nye County, Nevada; 100% interest in the Black Rock Desert Property – 199 claims (3,980 acres/ 1,610 hectares) located in southwest Black Rock Desert, Washoe County, Nevada (now optioned 70% interest to LiCo Energy Metals Inc.).

On Behalf of the Board of Directors

Rick Wilson, President & CEO

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 contents of this news release.

Disclaimer for Forward-Looking Information:

This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as Exchange approval of the Option Agreement and the Financing and the Company’s ability to exercise the Option or close the Financing, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. Availability of financing, and general business conditions are all factors that could cause actual results to vary materially from forward-looking statements.

Company Provides Update to “LiCo Energy Metals Enters into Letter of Intent to Acquire Lithium Exploitation Concession, Salar de Atacama in Chile’s Lithium Triangle” Press Release $LIC.ca

Posted by AGORACOM-JC at 10:49 AM on Friday, January 6th, 2017

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  • Entered into a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa, of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession 
  • Located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium

Jan 6, 2017 Vancouver, British Columbia; - LiCo Energy Metals Inc. (“the Company” or “LiCo”) TSX-V: LIC,OTCQB: WCTXF would like to provide shareholders with an update to the announcement from Tuesday, January 3, 2017 wherein the Company entered into a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa (“Durus Copper”), of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession (the “Purickuta Project”) located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium. The LOI, when superseded by a definitive option agreement, will require LiCo to make cash payments totalling USD$8.4 million, issuing 5 million shares and making work and development commitments during the term of the option agreement.

The Company’s shares were halted from trading after the announcement on January 3, 2017 as the TSX Venture Exchange (“Exchange”) deemed the transaction to be a fundamental acquisition pursuant to Exchange Policy 5.3 (“the Policy”). In accordance with the Policy, the Company has now filed the required documents and trading has resumed. The transaction is subject to Exchange approval.

The Purickuta Project exhibits many highly desirable and key acquisition attributes, including:

1) the appearance of both a low-cost resource definition opportunity and a near term production opportunity;

2) the overall project size fits well within the capability of a junior company seeking to quickly define reserves and establish production facilities;

3) the property is well situated within the Salar de Atacama, the highest-grade lithium salar in the world;

4) within the Salar de Atacama, lithium brines exist within 140 feet of surface resulting in low costs of exploration and extraction;

5) the Purickuta Concession lies relatively near existing pumping and solar evaporation installations;

6) the Purickuta Concession is close to power, labour, communications, transportation and other infrastructure.

The Company intends to undertake a preliminary resource definition program upon receipt of the National Instrument 43-101 report, which is expected to be completed in February, 2017.

“We are excited about the opportunity to earn a significant interest in a lithium concession located in the world’s most prolific lithium brine deposit, Chile’s Salar de Atacama. Having two lithium giants, SQM and Albemarle, as neighbours in the salar gives us confidence that we will be able to develop this concession alongside our Chilean partner, Durus Copper, for the benefit of our shareholders.” says Tim Fernback, LiCo’s Chief Operating Officer.


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About the Purickuta Project:https://licoenergymetals.com/purickuta/

The Purickuta Project consist of 160 hectares and is one of a few “exploitation concessions” granted within the Salar de Atacama, home to approximately 37% of the worlds Lithium production. The property is contained within an existing exploitation concession owned by Sociedad Quimica y Minera (“SQM”), and lies approximately 3 km north of the exploitation concession of CORFO (the Chilean Economic Development Agency). About 22 km south-east from the Purickuta Concession, both SQM and Albemarle Corp. have large-scale production facilities within the CORFO concession mentioned above. These two facilities collectively produce over 62,000 tonnes of Lithium Carbonate Equivalent annually and account for 100% of Chile’s current lithium output.

Salar de Atacama is a salt flat encompassing 3,000 km2 being about 100 km long and 80 km wide. The salar possesses a very high grade of both lithium (1,840mg/l) and potassium (22,630mg/l). It has a high rate of evaporation (3,200 mm per year) and extremely low annual rainfall (15mm average per year). These characteristics make Atacama’s finished lithium carbonate easier and cheaper to produce than its peer group globally.

Structure of the LOI and subsequent Agreement:

The proposed transaction to acquire an interest in the Project up to 60%, shall be effected by payment of the amounts described below:

(a) payment of US$100,000 in cash by the Company to be paid to Durus Copper on the date that the Company receives a title opinion acceptable to LiCo, and in any event no later than December 31, 2016 (paid).

(b) the Company shall pay the sum of US$300,000 in cash and issue an aggregate of 5,000,000 common shares of the Company to Durus Copper within five (5) business days of date of TSX Venture Exchange approval (the “Effective Date”);

(c) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper no later than six (6) months from the Effective Date;

(d) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper on the earliest date that is 12 months from the Effective Date or the date of the receipt of a positive preliminary economic assessment on the Property;

(e) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper upon the completion of a positive feasibility report on the Property and at the latest 18 months from the Effective Date;

(f) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper upon receipt of a special lithium operation contract (the “CEOL”) regarding the Property; and

(g) the Company shall have the exclusive right to accelerate all payments due under this agreement.

Once LiCo has completed the foregoing conditions and as a result has exercised the option to acquire an initial 50% interest in the Purickuta Project (including the completion of the Work Commitment described below), and during a period not to exceed 12 months from the date the CEOL is executed, LiCo has an option to commence construction of a plant to achieve production at a minimum rate of 2,000 TPA or up to a maximum rate of 4,000 TPA. The Parties may agree to increase the production rate by mutual consent.

For the first US$10 million invested by LiCo in plant construction, LiCo will acquire an additional 10% interest in the Property from Durus Copper, to complete the acquisition of the 60% interest in the Purickuta Project.

Work Commitments:

LiCo shall be required to complete the following under its “Work Commitment” obligations as follows:

(a) the receipt of an acceptable title opinion in regards to the Purickuta Project, as required for the first US$100,000 payment;

(b) the completion of a NI 43-101 compliant report;

(c) the Preliminary Economic Assessment;

(d) the Project Feasibility Study; and

(e) the procedure and application for the execution of the CEOL.

The transaction will be subject to TSX-Venture approval. Finders fees are payable in connection with the sourcing and negotiation of the potential acquisition of the Purickuta Project.

Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG.

About LiCo Energy Metals: https://licoenergymetals.com/

LiCo Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s focus is directed towards exploration for high value metals integral to the manufacture of lithium ion batteries.

The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne Project located near Cobalt. Ontario. The Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver. A significant portion of the cobalt that was produced at the Agaunico Mine located along structures that extended southward onto property currently under option to LiCo Energy Metals.

The Company has an option to acquire a 100% interest, subject to a 3% NSR, on a large lithium exploration project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The geologic setting and presence of lithium in active geothermal fluids and surface salts in Dixie Valley match characteristics of producing lithium brine deposits at Clayton Valley, Nevada and in South America.

The Company has entered into an option agreement whereby the Company may earn an undivided 70% interest, subject to a 3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project that consists of 199 placer claims (3,980 acres, or 1,610 hectares) in southwest Black Rock Desert, Washoe County, Nevada.

The Company has signed a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa, of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium.

The Company is planning an exploration programs for all its properties over the next several months.

On Behalf of the Board of Directors

Rick Wilson, President & CEO

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.

Disclaimer for Forward-Looking Information:

This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as TSX Venture Exchange approval of any Option Agreement for the acquisition of an interest in the Purickuta Project, the satisfaction of any obligations and conditions that may be contained in such Option Agreement, and the Company’s ability to exercise the Option, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.