Posted by AGORACOM-JC
at 9:58 AM on Tuesday, May 28th, 2019
The River Valley Project is the largest
undeveloped primary Platinum Group Metal (PGM) mineral resource in
North America. The Project has excellent infrastructure and is within
100 kilometres of the Sudbury Metallurgical Complex. The Project is 100%
owned by New Age Metals.
The Project’s first economic study a
Preliminary Economic Assessment (PEA) is underway and management plans
to release the summary press release by the end of the second quarter.
The price of an ounce of Palladium
represents a 35% price increase in the last 12 months. As such, for
2019, precious metals consultancy, Metals Focus believes
that professional investors will eventually return to palladium, with
an annual average price of US$1,490 per oz. in 2019. Rhodium, which is
also present at River Valley, has seen a price increase of over 15% this
YTD at US$2,860 per oz.
For Platinum, a turnaround in investor
sentiment stimulated heavy buying of platinum Exchange Traded Funds
(ETF’s) in early 2019. Investors were motivated by supply disruption
risks and an improving outlook for auto demand.
Drill permits for our Lithium Two and
Lithium One Projects in Manitoba have been applied for and the company
is in the final approval process from the province of Manitoba.
The Company is actively seeking a strategic partner for our Genesis PGM/Polymetallic Project in Alaska
May 28th, 2019 / Rockport, Canada – New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) Harry Barr, Chairman & CEO, stated; “We are pleased to update our shareholders and interested parties as to our ongoing activities in both our PGM and Lithium divisions. Specifically, give a progress update on the River Valley Project Preliminary Economic Assessment (PEA). This update will detail our exploration and development plans for both the PGM and Lithium divisions in 2019. Furthermore, we will highlight the current PGM market and particularly Palladium and Platinum price trends.”
Update on the PEA
NAM commissioned
both P&E Mining Consultants (P&E) and DRA Americas (DRA) to
complete the River Valley Project’s first economic study, a Preliminary
Economic Assessment (PEA) in August 2018.
The company has been informed by its engineering consultants that the preliminary
PEA mine plan, production schedule and financial model is nearing
completion, and we plan to release the highlights of the study in a
press release before the end of the second quarter this year.
At this
stage, the PEA is focused on investigating the mining potential of the
project, including the latest discovery, the Pine Zone and other
footwall mineralization potential. The study will also help define areas
of the project that require additional exploration and development.
The objective of
the PEA would be to create a conceptual mine plan, mine schedule, a
capital cost estimate, and operating cost estimate incorporated into a
financial model to provide total cash flow, net present value (NPV), and
internal rate of return (IRR).
River Valley PGM Project Goals & Objectives
During 2019, the company’s exploration & development objectives are as follows:
1.Complete the re-stated resource calculation (Q1 2019);
2.Complete the Projects first economic study, PEA (Q2 2019);
3.Complete surface exploration on
additional target areas based on recommendations of the updated 43-101
and the 2017/2018 geophysics (slated for Q3-Q4 2019);
4.Arrange additional funding for continued development of the project (ongoing);
5.Conduct a 5000-metre drill program focusing in the northern portion of the Project;
6.Solicit a strategic partner to aid in
further exploration and development of the Project. Potential major
partners are waiting for the PEA results to complete additional due
diligence on River Valley.
Palladium, Platinum, Rhodium Price & Performance
There are various reasons why the Palladium
(Pd) price movement has occurred and more to suggest that Pd price may
continue to rise. First, there are continued supply deficits forecasted
for Pd and in 2019 alone Johnson Matthey (JM) expects that it could
exceed a million ounces (PGM Market Report – May 2019). Emissions
standards are increasing worldwide as is the preference for larger
vehicles, both of which require more Pd to be used in the catalytic
converters.
The PGM’s Platinum, Palladium and Rhodium
are extensively used in catalytic converters to convert harmful gasses
like hydrocarbon emissions into less harmful substances. The allowable
limits of carbon monoxide (CO) and hydrocarbon (HC) from gasoline
passenger vehicles in China will be reduced by 60% by 2025 (SFA Oxford,
2019).
The Chinese emission standard story alone
tends itself to the increase in Pd demand to grow by 500,000 ounces by
2021. To summarize, the Palladium fundamentals and forecasts align well
with the timeline for development of our River Valley Project.
The platinum market is expected to move
into deficit in 2019, with a resurgence in investor activity outweighing
modest falls in industrial and jewellery demand. Johnson Matthey also
expects a tentative recovery in autocatalyst consumption, as stricter
heavy duty emissions legislation is enforced first in China and then in
India. JM forecasts a modest increase in primary supplies, but this
could be tempered by electricity shortages and, potentially, industrial
action in South Africa, while growth in recycling may be dampened by
processing capacity constraints in some regions.
Both Platinum and Palladium are considered
precious metals, like Gold and are used as a store of value. Rhodium,
which is also present at River Valley, has seen a price increase of over
15% this year at US$2,860 per oz.
2019 Mineral Resource Update
On January 9, 2019 NAM filed its latest
Mineral Resource Estimate on the River Valley Project. The May 2018
Resource Estimate presented a global mineral inventory. The January 2019
Resource presents a pit constrained mineral resource that shows
reasonable prospects for eventual economic extraction. The results of
the updated Mineral Resource Estimate are tabulated in Table 1 below
(0.35 g/t PdEq open pit and 2.0 g.t PdEq underground cut-off). This
43-101 Technical Report is available on SEDAR. See page 4.
Table 1: Results from the January 2019 NI 43-101 Mineral Resource Estimate.
Click Image To View Full Size
Class
PGM + Au (oz)
PdEq (oz)
PtEq (oz)
Measured
1,394,000
1,701,000
1,701,000
Indicated
983,000
1,166,000
1,166,000
Meas +Ind
2,377,000
2,867,000
2,867,000
Inferred
841,000
1,059,000
1,059,000
Notes:
1.CIM definition standards were followed for the Mineral Resource Estimate.
2.The 2018 Mineral Resource models used
Ordinary Kriging grade estimation within a three-dimensional block model
with mineralized zones defined by wireframed solids.
3.A base cut-off grade of 0.35 g/t PdEq
was used for reporting Mineral Resources in a constrained pit and 2.00
g/t PdEq was used for reporting the Mineral Resources under the pit.
6.Mineral Resources that are not Mineral Reserves do not have economic viability
7. The Inferred Mineral Resource in this
estimate has a lower level of confidence than that applied to an
Indicated Mineral Resource and must not be converted to a Mineral
Reserve. It is reasonably expected that the majority of the Inferred
Mineral Resource could be upgraded to an Indicated Mineral Resource with
continued exploration.
Click Image To View Full Size
Figure
1: The Yellow Band represents the footwall potential area of the River
Valley Deposit based on the results of the Pine Zone where footwall
mineralization was noted to extend 150 metres eastward from the Pine
Zone/ T3 main deposit.
At
present the only area that has confirmed footwall mineralization is in
the Pine Zone (defined from 2015 to 2017 drilling). Geophysics and
exploration continues
to test other areas of the Deposit. Management’s specific focus is to
outline a potentially economic Mineral Resource in the northern portion
of the Project that can be subsequently developed as a series of open
pits (bulk mining), crushed,and concentrate on site, with concentrate shipped to a smelter in Sudbury.
2019 Exploration Plan – River Valley PGM Project
To date an approximate 160,441 metres (481,323 feet) in 710 drill holes have
been conducted by the company as operators on the River Valley Project.
Several independent 43-101 compliant resource estimates have previously
been generated for the deposit through the exploration and development
phases. The River Valley Deposit’s
present resource, with approximately 2.9M PdEq ounces in Measured Plus
Indicated mineral resources and near-surface mineralization, covers a
total of 16 kilometers of strike. The company continues to explore and enhance the River Valley PGM Deposit.
After the ground proofing and surface
exploration program conducted in the Summer/Fall of 2018, (which
followed up on the most recent induced polarization survey by Abitibi
Geophysics) NAM management has designed a 5,000 metre drill programs to
test the new geophysical anomalies. See Figure 2 below, which shows these new geophysical anomalies and potential targets for the next stage of drilling at River Valley superimposed over the upper 4 kilometres of the project map.
Click Image To View Full Size
Figure 2:
Northern portion of the project with superimposed 2018 merged IP at
-100m level. Retrieved from River Valley Geophysical review by
Geoscience North (Alan King, P. Geo., M.Sc.)
2019 Exploration Plans for Lithium Division
The Company has eight pegmatite hosted
Lithium Projects in the Winnipeg River Pegmatite Field, located in SE
Manitoba. In 2018 NAM conducted surface exploration programs on our
Lithman East, Lithman North, Lithium One and Lithium Two projects. The
programs consisted of reviewing, characterising and sampling the known
surface pegmatites. Samples were taken from the Eagle and FD5 pegmatites
on Lithium Two and returned results of up to 3.8% Li2O. On Lithium One,
samples were taken from the known Silverleaf and Annie pegmatites and
returned significant Li20 assays of up to 4.1%.
In 2019, the Company plans to drill the Lithium Two Project first. Drill
permits have been applied for and the company is awaiting approval from
the province. The application has been accepted by the relevant parties
to date and is in the final stages of the approval process. The first
drill permit is expected to be issued in June 2019.
Genesis PGM / Polymetallic Project
On April 4th, 2018,
NAM signed an agreement with one of Alaska’s top geological consulting
companies. The company’s stated objective is to acquire additional PGM
and Rare Metal projects in Alaska. On April 18th, 2018,
NAM announced the right to purchase 100% of the Genesis
PGM/Polymetallic Project, NAM’s first Alaskan PGM acquisition related to
the April 4th
agreement. The Genesis PGM/Polymetallic Project is a road accessible,
under explored, highly prospective and multi-prospect drill ready
Palladium (Pd)- Platinum (Pt)- Nickel (Ni)- Copper (Cu) property. A
comprehensive report on previous exploration and future phases of work
was completed by Avalon Development of Fairbanks Alaska in August 2018
on Genesis. (available here).
A 2019 sampling program will be conducted to continue to outline
additional mineralization along the 800-metre by 40-metre mineralized
zone. Management is actively seeking an option/joint-venture partner for
this road accessible PGM and multiple element Project using the
Prospector Generator business model.
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QUALIFIED PERSON
The contents contained herein that relate
to Exploration Results or Mineral Resources is based on information
compiled, reviewed or prepared by Carey Galeschuk, a consulting
geoscientist for New Age Metals. Mr. Galeschuk is the Qualified Person
as defined by National Instrument 43-101 and has reviewed and approved
the technical content of this news release.
On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO
For further information on New Age Metals,
please contact Anthony Ghitter or Cody Hunt, Business Development at
613-659-2773, or [email protected]
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.
Posted by AGORACOM-JC
at 3:16 PM on Monday, May 27th, 2019
SPONSOR: New Age Metals Inc. The company’s new Lithium Division has already made significant acquisitions in Canada and the USA. The company also owns one of North America’s largest primary platinum group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred. Learn More.
NAM: TSX-V
———————
The lithium industry needs a $17b injection to meet 2025 demand – here come the deals
One expert says at least US$12 billion ($17.3 billion) needs to be invested in new lithium projects by 2025 if the industry is to have any realistic hope of matching supply with demand
Corporate deals in the lithium industry are heating up at a time when
there is a predicted multi-billion-dollar cash injection needed to ramp
up supply to meet rapidly growing demand.
One expert says at least US$12 billion ($17.3 billion) needs to be
invested in new lithium projects by 2025 if the industry is to have any
realistic hope of matching supply with demand.
US lithium expert Joe Lowry told delegates at the Latin America
Downunder mining conference in Perth that the ‘Big Four’ global lithium
producers – SQM, Albemarle, Jiangxi Ganfeng Lithium and Tianqi – could
not alone meet 2025 lithium demand.
“Overall, the industry faces a lack of financing and needs to inject
more than US$12 billion within five years to have a chance of meeting
demand,†he said.
“This requirement is exacerbated further by known and emerging
failures in lithium start-ups which have demonstrated a lack of
necessary skillsets – high profile failures that have discouraged sector
investment.
“There will not be any significant lithium chemical oversupply
anytime soon. While there have been many optimistic supply forecasts,
recent results speak for themselves.â€
He dismissed the forecasts of oversupply as a myth.
“The ‘myth’ is driven by reports from ‘big bank’ analysts and
supported by statements by Chilean regulator, CORFO, after its revised
agreements allowing Albemarle and SQM to produce more material from the
Atacama brine resource,†Lowry said.
“The reality is increasing production quickly is not so easy.”
Last year there was about 270,000 tonnes of lithium demand and Lowry estimates that will rise to about 1 million tonnes in 2025.
“It’s pretty much not argued anymore that e-mobility is happening —
whether it’s EVs or scooters or ferries in Scandinavia, the transition
to e-mobility is on,†Lowry said.
“My numbers are actually some of the lower numbers out there.â€
Battery-related lithium demand in 2018 accounted for 60 per cent, up from 25 per cent five years earlier.
“So this market is becoming a battery-related market. There’s really no question about that,†Lowry said.
But new lithium supply is hard to bring online and SQM, Albemarle,
Jiangxi Ganfeng Lithium and Tianqi are likely only be able to maintain
their 68 per cent market share, according to Lowry.
“Almost every lithium project that has ever started with optimism has
taken three or four years longer to reach full capacity and that’s what
we’re seeing,†he said.
“That means there’s a lot of juniors or smaller companies around the world that need to get financed and need to get moving.â€
The cash injection gives Galaxy a roughly 11.5 per cent interest, and
a blocking stake, in Alliance, managing director Mark Calderwood told Stockhead.
Galaxy’s investment was part of a larger $32.5m placement at 20c per
share, which also included $10m from a subsidiary of Jiangxi Special
Electric Motor Co.
Jiangxi has about a 9.9 per cent stake in Alliance.
“I guess from [Galaxy’s] point of view it’s stopping us from being a
target for someone else to come and grab, and we were the cheapest
lithium miner in the market,†Calderwood said.
“Both Jiangxi and Galaxy are a lot bigger than we are, they’re both
experts in their sectors so that’s good for us and it enables us to be
cooperative in the future.
“Both parties have either a blocking stake or almost a blocking stake.â€
Australia’s downstream gaining momentum
Right now, Australia has absolutely zero per cent share of the global
lithium chemical market, but the Galaxy-Alliance deal is another step
towards building the country’s downstream industry.
“I think [Galaxy] has desires to go further downstream as well, and
Jiangxi [Ganfeng Lithium] already has that joint venture with Jiangxi
Special Electric Motors, which is downstream, but there’s other things
we can do as well,†Calderwood said.
The research partnership of 58 industry, academic and government
partners will address industry-identified gaps in the battery industries
value chain.
The goal is to expand battery minerals and chemicals production and
develop opportunities for manufacturing batteries in Australia.
Good time to invest
Lowry says rapidly rising demand and the difficulty in bringing new
lithium supply online supports his “thesis†that the market is going to
outgrow supply.
“Anyone who is interested in investing in the lithium market has a
great opportunity now because share prices are very, very depressed,†he
said.
“If you look at the market caps of some of the Australian companies,
even the ‘Big Four’ companies, their market caps are very much down from
where they were a couple of years ago.
“So if you’re interested in lithium, I would tell you now’s a good time to get in.â€
Posted by AGORACOM-JC
at 3:19 PM on Thursday, May 9th, 2019
SPONSOR: New Age Metals Inc.
The company’s new Lithium Division has already made significant
acquisitions in Canada and the USA. The company also owns one of North
America’s largest primary platinum group metals deposit in Sudbury,
Canada. Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq
Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces
in the Inferred. Learn More.
NAM: TSX-V
———————
EV ‘arms race’ revs up Murkowski’s old minerals bill
E&E News staff Energywire: Thursday, May 9, 2019
The Tesla Model S (left) and Model X charging side by side. Steve Jurvetson/Wikimedia Commons
An old proposal to jump-start American mining has been recharged by a
newfound focus on electric vehicles and the elements needed to power
them.
Congress has bandied about ideas for mining more “critical minerals”
for as long as the United States has been losing ground to other
nations, namely China, in supplying elements used in military, energy
and emerging technologies.
But a different narrative took center stage when Sen. Lisa Murkowski
(R-Alaska) introduced her latest critical minerals bill last week:
fixing the EV supply squeeze (Energywire, May 3).
The Senate Energy and Natural Resources Committee chairwoman
advocated helping the United States “compete in growth industries like
electric vehicles and energy storage,” while her co-sponsor and
committee ranking member, Sen. Joe Manchin (D-W.Va.), said he was “very
much concerned” about lithium-ion batteries.
Sources traced the new emphasis to a recent closed-door summit of automakers, mining companies and federal officials.
Murkowski teased her bill at a Washington, D.C., event organized by
Benchmark Minerals, a consulting firm specializing in battery mineral
supply chains.
Despite its small size — 26 employees — Benchmark has increasing influence on Capitol Hill.
Reached by phone yesterday, Benchmark founder Simon Moores declined
to say who attended the summit, but he said the fact that Murkowski
highlighted lithium, cobalt, graphite and nickel was “a reaction” to his
testifying to her committee twice in as many years.
“For me, the most important development is that focus on these four
[minerals]
for electric vehicles,” he said. “And that is a big step
forward in my eyes because it refines the focus and refines the
discussion.”
Robert Mintak, CEO of Canadian mining company Standard Lithium Ltd.,
also declined to go into detail about the Benchmark summit, only saying
it was “well-attended across numerous agencies.”
“The narrative is being curated to make the current state of the
nation understand that it isn’t a tree-hugging narrative,” he said.
“There’s an opportunity you need to get in front of.”
The strategy
The EV rebranding appears to be a marketing maneuver, said Jim
Constantopoulos, a geology professor at Eastern New Mexico University
and director of its Miles Mineral Museum.
“Those folks that would be more likely to drive an EV … would
normally be opposed to any sort of mining, let alone a bill that would
eliminate roadblocks to mining,” Constantopoulos said. “By referring to
it as an EV bill, they might garner some support from that sector.”
Senate Energy and Natural Resources Chairwoman Lisa Murkowski (R-Alaska). Energy and Natural Resources Committee
Environmentalists have generally condemned critical minerals
legislation as an excuse to slash environmental standards. Murkowski’s
bill would task federal agencies with streamlining mine permitting.
President Trump has ordered his administration to do the same. Under
an executive order, the U.S. Geological Survey created a list of 35
critical minerals and the Department of Commerce set to work drafting a
report of policy recommendations to mine more of each of them.
The report was due in November, but industry advocates expect the White House to publish its findings as soon as next week.
“I know we’re getting close on the strategy, but to my knowledge, the
White House is still deciding on a rollout date,” USGS spokesman Alex
Demas said.
The White House declined to speculate on any announcement.
‘Barely even in the game’
Benchmark says about 1.7 terawatt-hours’ worth of battery factory
projects are in the development pipeline — or roughly the equivalent of
24 million to 26 million EVs, depending on the battery pack.
“We are in the midst of a global battery arms race in which the U.S.
is presently a bystander,” Moores told lawmakers in February (E&E Daily, Feb. 6).
Most of the world’s lithium comes from a region in South America
crisscrossed by massive salt flats. About 1% of the world’s raw lithium
comes from the United States. North America’s only active lithium
operation is the Silver Peak mine in Nevada, although the Los Angeles Timesreported this week about a battle brewing over a second one in Death Valley.
“Despite significant domestic resources, we’re barely even in the
game,” said National Mining Association President and CEO Hal Quinn.
As for cobalt, about 68% comes from the Democratic Republic of Congo,
where a small percentage of the mineral is illegally mined using child
labor, according to a 2017 Amnesty International report.
The industry is actively looking to cut back on cobalt, but even if
they are successful, new battery production will still increase demand.
“There’s no way that entire battery industry can just abandon cobalt
as a critical element for their cathode,” Benchmark consultant and
former Tesla employee Vivas Kumar said at another recent event in New
York.
Where do companies stand?
Automakers have generally supported previous critical minerals bills, and this year is no different.
The Alliance of Automobile Manufacturers, a powerful trade group that
represents Ford Motor Co. and General Motors Co., has not changed its
stance since testifying in support of the bill in 2014.
“Whether it’s the aluminum in automotive frames, the platinum in
catalytic converters, or the lithium and nickel in electric vehicle
batteries, minerals are vital components in every automobile on the road
today, and future models,” spokesman Wade Newton said in an email.
But Tesla declined to comment, as did Fiat Chrysler Automobiles. A Ford spokeswoman redirected inquiries to the Auto Alliance.
The Electric Drive Transportation Association, which advocates for
electric vehicle makers and other companies in the electric and hybrid
vehicle industry, said it had yet to thoroughly examine Murkowski’s
legislation.
“We appreciate the bipartisan effort to reinforce the supply chain
for electric vehicles and are currently reviewing the bill,” spokesman
Jake Styacich said.
While the talking point has changed, China remains the foremost national security concern.
In 2015, the Chinese government published a plan for its
manufacturing sector, Made in China 2025, which identified battery
minerals as a key area in which to seek dominance.
Robbie Diamond, president of Securing America’s Future Energy, a
group fighting foreign oil dependence, called it a “wake-up call.”
“We do not want to go from dependence on oil and troubles in the Middle East to dependence on China for batteries,” he said.
Diamond cited Moores’ February testimony as evidence.
He added: “Anybody who takes our security seriously has to ask themselves the question: Can we fall this far behind?”
Reporters Dylan Brown, Kelsey Brugger, Timothy Cama, David Iaconangelo and Maxine Joselow contributed.
Posted by AGORACOM-JC
at 10:38 AM on Tuesday, April 23rd, 2019
Finalized plans for its 2019 drilling program at Bonnie Claire
Five drill holes averaging 90 meters (300 feet) depth will be drilled in the southern portion of the project area in an area of anomalous surface lithium values and interpreted faults
Vancouver, British Columbia–(April 23, 2019) – Â Iconic Minerals Ltd.(TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB) (“Company” or “Iconic”) has finalized plans for its 2019 drilling program (the “Drilling Program”) at Bonnie Claire. Five drill holes averaging 90 meters (300 feet) depth will be drilled in the southern portion of the project area in an area of anomalous surface lithium values and interpreted faults. The purpose of the Drilling Program is to define shallow lithium mineralization which the Company can utilize for bulk sampling and extend the resource to the south. If results are favorable, one or more of the shallow holes will be deepened to +600 meters (2,000 feet) to further enlarge the resource. A map of the drilling, surface lithium sampling results and interpreted faults can be found on the Company website (www.iconicmineralsltd.com).
The Drilling Program is located 2-5 kilometers (1.3-3.1 miles) south
of drill hole BC1602 (see map). The shallow holes will be drilled using a
tracked or buggy reverse circulation (RC) rig suitable for the salt
flats being tested. Down-hole sediment samples will be collected
continuously in 6 meter (20 feet) intervals and sent to a geochem lab
for analysis.
Drilling will be initiated when the wet season has ended and the salt
flats dry sufficiently to allow access. This year has seen the fourth
wettest season in history.
The Bonnie Claire Lithium Property Characteristics:
The Property is located within Sarcobatus Valley that is
approximately 30 km (19 miles) long and 20 km (12 miles) wide.
Quartz-rich volcanic tuffs, that contain anomalous amounts of lithium,
occur within and adjacent to the valley. Geochemical analysis of the
local salt flats has yielded lithium values up to 340 ppm. The gravity
low within the valley is 20 km (12 miles) long, and the current
estimates of depth to basement rocks range from 600 to 1,200 meters
(2,000 to 4,000 feet). Four drill holes have identified an open ended,
43-101 compliant resource of 28.58 billion kilograms of lithium
carbonate equivalent. The drilling that defined the current resource
only covered an area of 3.0 km2 (1.2mi2), while previously run MT
geophysics show a potentially mineralized area of 27.3 km2 (10.5mi2).
Drilling to date has shown strong correlation between the MT results and
the lithium mineralization. The thickness of the lithium mineralization
is unknown, but drilling indicates it is greater than 600 meters (2,000
feet). The current claim block covers an area of 57.5 km2 (22.2mi2).
Further drilling has been permitted and metallurgy to determine the most
efficient recovery method is currently in progress.
Richard Kern, Certified Professional Geologist (#11494) and CEO of
Iconic is the Qualified Person who has prepared and reviewed this press
release in accordance with NI 43-101 reporting standards.
On behalf of the Board of Directors
SIGNED: “Richard Kern”
Richard Kern, President and CEO Contact: Keturah Nathe, VP Corporate Development (604) 336-8614
Forward Statement: This news release includes
certain forward-looking statements or information. All statements other
than statements of historical fact included in this release are
forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially
from those anticipated in such statements. Iconic expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise except as otherwise required by applicable securities
legislation.
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.
Posted by AGORACOM-JC
at 10:59 AM on Tuesday, March 19th, 2019
SPONSOR: New Age Metals Inc. (TSX-V: NAM) owns one of North America’s largest primary platinum group metals deposit in Sudbury, Canada. Learn More.
NAM: TSX-V
———————
Palladium hits record high above $1,600/oz on plans for Russia export ban
Palladium hit its highest ever on Tuesday,
crossing the $1,600 an ounce mark for the first time as news that
Russia is planning to ban exports of precious metals scrap fuelled
concerns over an already supply-constrained market.
By Arijit Bose March 19 (Reuters) – Palladium hit its highest ever on
Tuesday, crossing the $1,600 an ounce mark for the first time as news
that Russia is planning to ban exports of precious metals scrap fuelled
concerns over an already supply-constrained market. Spot palladium was
up 0.7 percent at $1,594.08 an ounce at 1231 GMT, having hit a record
high of $1,606 earlier in the session. “There have been rumours that
Russia would restrict exports of some scrap materials. When the market
is as tight as palladium is, sometimes such news can take on more
significance than it should,” said Philip Newman, a director at Metals
Focus. “It comes back to the fact that you have an underlined tight
market, where demand is far outstripping global supply.” Russia’s trade
and industry ministry last week said the proposed ban on exports of
precious metals scrap and tailings would last from May 1 to Oct. 31.
Russia is a major producer of palladium, which is used mainly in
catalytic converters.
News that China, the world’s biggest auto market, will enforce
stimulus measures to boost its tiring economy has also helped the case
for the metal, analysts said. Commerzbank attributed the spike in
palladium prices to speculative buying interest.
Prices have nearly doubled since their mid-August lows and have already surged about 27 percent this year.
Meanwhile, gold held firm above the key psychological $1,300 level as
expectations that the U.S. Federal Reserve will strike a dovish tone on
interest rates at its policy meeting this week kept the dollar under
pressure. Gold, which bears no yield, tends to suffer when interest
rates are rising.
Spot gold gained 0.4 percent to $1,308.48, while U.S. gold futures
were 0.6 percent higher at $1,308.80. “The dollar is under a little bit
of pressure, providing some support to the metal,” Capital Economics
analyst Ross Strachan said. Indicative of investor sentiment, holdings
of the SPDR Gold Trust , the world’s largest gold-backed exchange-traded
fund, rose about 1.1 percent on Monday, their biggest one-day
percentage gain since Jan. 18. “The yellow metal has been on a very
positive trajectory over the last six months as central banks have
become notably more dovish around the globe and the dollar has hit a
ceiling,” OANDA said in a note. “With the global economic outlook a
cause for concern, the environment looks very favourable for gold.”
Among other precious metals, silver shed 0.5 percent to $15.37 per
ounce, while platinum gained 1.8 percent to $844.83 per ounce, having
hit its highest since March 4 at $848.38, earlier in the session.
Tags: CSE, green energy, lithium], stocks Posted in All Recent Posts, New Age Metals | Comments Off on New Age Metals Inc. $NAM.ca – Palladium hits record high above $1,600/oz on plans for Russia export ban $WG.ca $XTM.ca $WM.ca $PDL.ca $GLEN
Iconic Minerals has three highly prospective Lithium exploration
properties located in Nevada, the Bonnie Claire Sarcobatus Valley
Lithium property, the Smith Valley Creek Property, and the Third Nevada
Lithium Property.
Bonnie Claire Property
Property Overview
11.8 Billion pounds of lithium carbonate equivalent (28.5 Million tonnes of LCE) Inferred Resource (43-101).
Potential to be the largest lithium resource globally (based on size)
Bonnie Claire is a 100% owned lithium brine property comprising of
23,100 acres of contiguous placer claims, currently in control of 28.75
square miles (75 km2) located in Nye County, Nevada.
Property area is contained within a valley that is 60kms from the
only producing lithium mine in North America (Albermarle Silver Peak
Mine).
Over +20 miles (+30 km) long and 12 miles (20 km) wide into which streams from an +800 mi2 (2,070 km2) drainage basin empty.
Sampling of salt flats within the basin, have found lithium values in salt samples yielding up to 340 ppm.
Current claim block covers the gravity low and associated mud flats
that could be used for evaporation ponds if significant lithium brines
are discovered in drilling.
Preliminary NI 43-101 Technical Report completed Read More
A total 5,550 feet has been drilled at the Bonnie Claire with an average 963+ppm from four drill holes
Great infrastructure
Local end-users
Property Details Snapshot
Drainage Basin (20 x 30 kms)
830 square miles
Gravity Lows (length)
20 x 30 kms
Valley Sediment (Range)
460 – 610m (1,500 to 2,000ft)
BLM Drilling Permits
Drilling Program
Drilling completion of first of three test wells
Smith Creek Valley Property
Controls 808 placer claims totaling 25.25 square miles (65.4 km2) over a major gravity low.
The enclosed Smith Creek Valley Basin covers 582 square miles (1,507
km2), which is slightly larger than Clayton Valley Basin where lithium
brines are produced.
Smith Creek Valley is over +40 miles (+64 km) long in a north-northeast direction and averages 9 miles (14.5 km) in width.
The vast majority of rock weathering into the basin is felsic ash flow tuff, which is an excellent source of lithium.
Lithium Brine Benefits
Lower Cost Exploration
Easy access because flat and arid
Decreased environmental impact
Shorter Timeline to Production
Requires Less Capital
Lower Cost Production than bedrock
Found beneath salt flats in brine bearing aquifers
Easily pumped to Surface from vertical production well
After evaporation lithium recovered in small on site mill
Potassium may also be recovered
Nevada is a Geopolitically Stable Jurisdiction
Gold Projects
The company’s Gold exploration portfolio includes the Hercules
property in the Como mining district, 17 kms from the famous Comstock
Lode mine, the New Pass property in the New Pass mining district, and
the Squaw Creek property located in the northern area of the Carlin
Trend.
Situated within and on the margins of the Como mining district, located in Lyon County, Nevada.
Como district was worked as early as the late 1850s, before the
famous Comstock Lode deposit was discovered about 10 miles (16 km.) to
the north by prospectors following float upstream from placer gold
deposits at Dayton.
By the early 1860’s the Como district was abandoned due to the rich
lodes having been discovered at Virginia City (Russell, 1981).
In the late 1880’s the Hercules Mining Company explored the occurred
with the excavation of another 1,500 feet (450 m) of underground
workings.
Gold and silver property which, is comprised of 107 unpatented lode mining claims (2,231 acres).
The property is located in eastern Churchill County, Nevada; in the
New Pass Mining District, 27 miles west of Austin, Nevada and 105 miles
east of Reno.
Iconic Minerals has a controlling interest in the property, in a
joint venture with White Knight Gold U.S. Inc., (now U.S. Gold), with
Iconic earning a 50% interest.
Property is located 42 miles due north
of Battle Mountain, Nevada and lies between the Midas and Ivanhoe mining
districts on the northern portion of the Carlin Trend, six miles north
of the Dee Mine in the Lower Plate Bootstrap Window.
Iconic’s Research and Development partner
St-Georges’ metallurgists report that they
have successfully improved the concentration of lithium in the
Sediments, originally reported in December using mechanical separation
and selective leaching of other elements within the Sediments.
The additional tests St-Georges completed
in Stage 2, through selective leaching methods, have improved the
elimination of barren material from 55% to 85%-88%, while retaining 100%
of the lithium.
Upon completion approximately 12% to 15%
of the original material remains for further processing and
purification. This process may significantly reduce the cost of
production.
Lithium also leachable by water
FULL DISCLOSURE: Iconic Minerals is an advertising client of AGORA Internet Relations Corp.
Posted by AGORACOM-JC
at 4:54 PM on Thursday, February 28th, 2019
NOTICE: Iconic Minerals – Fox Business Network – Thursday, February 28, 2019
The Company would like to give notice to its shareholders that the Company’s CEO (Richard Kern) will be featured on national Fox Business Network on Thursday, February 28, 2019 at 9:46 PM Eastern, 8:46 PM Central, 7:46 PM Mountain and 6:46 PM Pacific Time.
In this five minute segment, Richard Kern will be providing comments on
the lithium industry while onsite in Nevada, at the Bonnie Claire
property.
Please keep in mind that the allotted time slot may not be exact, and
the segment could air within an hour of the above scheduled times.
Posted by AGORACOM-JC
at 4:27 PM on Thursday, February 28th, 2019
(TSXV: ICM) (OTC Pink: BVTEF) (FSE: YQGB)
Why Iconic Minerals?
Bonnie Claire Lithium property hosts 11.8 Billion pounds of lithium carbonate equivalent (28.5 Million tonnes of LCE) Inferred Resource (43-101).
Potential to be the largest lithium resource globally (based on size)
Initial leaching tests applying dilute acid to the drill cuttings resulted in recoveries as high as 98%.
Two other highly prospective Lithium exploration properties also located in Nevada.
Lithium Projects
Iconic Minerals has three highly prospective Lithium exploration
properties located in Nevada, the Bonnie Claire Sarcobatus Valley
Lithium property, the Smith Valley Creek Property, and the Third Nevada
Lithium Property.
Bonnie Claire Property
Property Overview
11.8 Billion pounds of lithium carbonate equivalent (28.5 Million tonnes of LCE) Inferred Resource (43-101).
Potential to be the largest lithium resource globally (based on size)
Bonnie
Claire is a 100% owned lithium brine property comprising of 23,100
acres of contiguous placer claims, currently in control of 28.75 square
miles (75 km2) located in Nye County, Nevada.
Property
area is contained within a valley that is 60kms from the only producing
lithium mine in North America (Albermarle Silver Peak Mine).
Over +20 miles (+30 km) long and 12 miles (20 km) wide into which streams from an +800 mi2 (2,070 km2) drainage basin empty.
Sampling of salt flats within the basin, have found lithium values in salt samples yielding up to 340 ppm.
Current
claim block covers the gravity low and associated mud flats that could
be used for evaporation ponds if significant lithium brines are
discovered in drilling.
Preliminary NI 43-101 Technical Report completed Read More
A total 5,550 feet has been drilled at the Bonnie Claire with an average 963+ppm from four drill holes
Great infrastructure
Local end-users
Property Details Snapshot
Drainage Basin (20 x 30 kms)
830 square miles
Gravity Lows (length)
20 x 30 kms
Valley Sediment (Range)
460 – 610m (1,500 to 2,000ft)
BLM Drilling Permits
Drilling Program
Drilling completion of first of three test wells
Smith Creek Valley Property
Controls 808 placer claims totaling 25.25 square miles (65.4 km2) over a major gravity low.
The enclosed Smith Creek Valley Basin covers 582 square miles (1,507
km2), which is slightly larger than Clayton Valley Basin where lithium
brines are produced.
Smith Creek Valley is over +40 miles (+64 km) long in a north-northeast direction and averages 9 miles (14.5 km) in width.
The vast majority of rock weathering into the basin is felsic ash flow tuff, which is an excellent source of lithium.
Lithium Brine Benefits
Lower Cost Exploration
Easy access because flat and arid
Decreased environmental impact
Shorter Timeline to Production
Requires Less Capital
Lower Cost Production than bedrock
Found beneath salt flats in brine bearing aquifers
Easily pumped to Surface from vertical production well
After evaporation lithium recovered in small on site mill
Potassium may also be recovered
Nevada is a Geopolitically Stable Jurisdiction
Gold Projects
The company’s Gold exploration portfolio includes the Hercules
property in the Como mining district, 17 kms from the famous Comstock
Lode mine, the New Pass property in the New Pass mining district, and
the Squaw Creek property located in the northern area of the Carlin
Trend.
Situated within and on the margins of the Como mining district, located in Lyon County, Nevada.
Como district was worked as early as the late 1850s, before the
famous Comstock Lode deposit was discovered about 10 miles (16 km.) to
the north by prospectors following float upstream from placer gold
deposits at Dayton.
By the early 1860’s the Como district was abandoned due to the rich
lodes having been discovered at Virginia City (Russell, 1981).
In the late 1880’s the Hercules Mining Company explored the occurred
with the excavation of another 1,500 feet (450 m) of underground
workings.
Gold and silver property which, is comprised of 107 unpatented lode mining claims (2,231 acres).
The property is located in eastern Churchill County, Nevada; in the
New Pass Mining District, 27 miles west of Austin, Nevada and 105 miles
east of Reno.
Iconic Minerals has a controlling interest in the property, in a
joint venture with White Knight Gold U.S. Inc., (now U.S. Gold), with
Iconic earning a 50% interest.
Property
is located 42 miles due north of Battle Mountain, Nevada and lies
between the Midas and Ivanhoe mining districts on the northern portion
of the Carlin Trend, six miles north of the Dee Mine in the Lower Plate
Bootstrap Window.
Iconic’s Research and Development partner
St-Georges’
metallurgists report that they have successfully improved the
concentration of lithium in the Sediments, originally reported in
December using mechanical separation and selective leaching of other
elements within the Sediments.
The
additional tests St-Georges completed in Stage 2, through selective
leaching methods, have improved the elimination of barren material from
55% to 85%-88%, while retaining 100% of the lithium.
Upon
completion approximately 12% to 15% of the original material remains
for further processing and purification. This process may significantly
reduce the cost of production.
Posted by AGORACOM-JC
at 4:50 PM on Wednesday, February 6th, 2019
SPONSOR: New Age Metals Inc.
(TSX-V: NAM) The company’s new Lithium Division has already made
significant acquisitions in Canada and the USA. The company also owns
one of North America’s largest primary platinum group metals deposit in
Sudbury, Canada. Learn More.
NAM: TSX-V
———————
Honda secures battery supply contract for about 1 million electric vehicles with CATL
Honda hasn’t been one of the most active automakers when it comes to electrification, but it is now making some big moves,
securing a battery cell supply contract for about 1 million electric vehicles with CATL, one of the largest battery manufacturers in the world.
Yesterday in Tokyo, Contemporary Amperex Technology Co., Ltd. (CATL)
and Honda signed “a cooperation agreement to formally cooperate to
develop electric vehicles for the future market.â€
The two companies had already been working together.
Naosumi Tada, head of CATL’s Japanese subsidiary, commented:
“Customer-centered is the philosophy that CATL has always insisted
on. We hope that we can establish more efficient communication channels,
more timely response mechanisms, and establish a closer relationship
for further cooperation. Honda and CATL have been worked
closely on advanced and reliable battery solutions for Honda’s future
electric vehicle applications. In the future, we will support Honda not
only in China, Japan, but also to create world-leading electric vehicles that serves global consumers.â€
Now as part of the new agreement, CATL is guaranteeing Honda a supply of “about 56 GWh of lithium-ion EV batteries before 2027.â€
Based on an average battery pack size of 55 kWh, it would be enough batteries to produce about 1 million electric vehicles.
When it comes to all-electric vehicles, Honda doesn’t have much going
on right now, but they plan to change that starting at the end of this
year with their first new standalone all-electric vehicle.
As for CATL, it is rapidly becoming an important player in the EV space.
CATL is primarily using LiFePo and NCM chemistries in prismatic cell
formats and their batteries have been mostly going to electric bus
production and plug-in hybrids. But they have been expanding their reach
lately and announced several new battery factories to support major
automakers.
It may sound like a lot, but the way I read the statement, it sounds
like 56 GWh through 2027, which means an average of 7 GWh secured per
year over the next 8 years.
That’s not really a lot.
Tesla is already consuming at a rate of over 25 GWh of battery cells
per year for its vehicles and it is expected to rapidly increase over
the next few years.
Therefore, it’s a big investment for Honda relative to what they have
been doing in the space before, but it’s not really aggressive compared
to other players in the space.
Hopefully, we see them securing more contracts to support more ambitious EV programs.
Tags: green energy, lithium], stocks Posted in New Age Metals | Comments Off on New Age Metals Inc. $NAM.ca – Honda secures battery supply contract for about 1 million electric vehicles with CATL $LIC.ca $LIX.ca
