Liberty Star Uranium & Metals Corp. (LBSR: OTCBB) is an Arizona-based mineral exploration company engaged in the acquisition and exploration of mineral properties in the states of Arizona and Alaska. Currently the company controls properties which are located over what management considers some of North America’s richest mineralized regions for copper, gold, silver, molybdenum (moly), and uranium.
ROUYN-NORANDA, QUEBEC–(Jan. 10, 2017) – Explor Resources Inc. (“Explor” or the “Corporation“)Â (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce further results from the 12 Diamond Drill Holes completed on the Chester Copper Property. The Chester Copper property is located in the Northumberland County, 70 km southwest of Bathurst, New Brunswick and 50 km west-northwest of Miramichi, New Brunswick, within the Bathurst Mining Camp. This area has an extensive history in base metal production from VMS deposits.
There has been very little exploration work in this area of the Bathurst Mining Camp (BMC) since the initial exploration more than 60 years ago. Of significance also is the fact that three (3) age date studies of the rock in the area since 2005 have indicated an age of 469+/- 0.3 ma. All of the main largest VMS deposits in the BMC (including BMS #12 and #6, the Caribou Deposit (currently being developed by Travalli) and the past producing Heath Steele Mines, are associated with this age date for the footwall felsic rocks. That new data in 2007 places Explor’s Chester deposit is in the same time frame as the Brunswick Mining No. 12 and No. 6 deposits located in the BMC.
New Brunswick is the home of the No 12 massive sulphide deposit (The Brunswick Deposit) which was in continuous production from 1964 to its closure in March of 2013 (to Feb 2013, 135,903,168 tonnes milled at 3.44 % Pb, 8.74 % Zn, 0.37 % Cu and 102 g/t Ag). The Brunswick deposits (No 6 and No 12) are situated in the Nepisiguit Falls Group of rocks in the Lower Tetagouche group of the BMC. There are 46 known VMS deposits in the BMC.
The property is located in the southern-most part of the Bathurst Mining Camp and consist of 174 Mineral Claim Units within a total of five (5) Mineral Claims (1571, 2428, 6003, 6005 and 7045) comprising approximately 3,828 hectares as shown on the attached map.
Chris Dupont, President and Chief Executive Officer of Explor Resources Inc. commented: “We are extremely pleased and encouraged by these preliminary drill results. The presence of multiple copper mineralized zones in each of the holes drilled is very significant in terms of exploration. The increase in strike length of the known mineralization from 500 to 750 meters confirms the potential to significantly increase the resources on the property. The property continues to be open on strike to the west and Northwest.”
A total of 4 diamond drill holes were drilled on claim 1571. The first three diamond drill holes that were drilled were fan holes from the same location. This successfully tested the extension of the copper stringer zone for a distance of 250 meters west of previous drilling. The fourth drill hole was located approximately 100 meters west (and 38 meters south) of the first three drill holes, confirming the continuity of the mineralization to the west and Northwest and adding 250 meters of strike length to the known deposit. It intersected the target horizon and favorable geology from 49 meters to 172 meters.
Further to the west the copper deposit goes down dip and onto claim 6003. At about 1,100 meters west of the first drill hole, drill hole 6003-16-012 was drilled at a vertical dip. It eventually went to a depth of 600 meters and intersected previously unknown mineralization near surface (18 meters) and also extending the deep main Chester Stringer zone an additional 650 meters westward than any previous reliable drilling (i.e. casing in place and core in government storage). It also confirms the existence of the alteration zone and the host stratigraphic horizon to a depth not previously known or expected. The chloritized favorable horizon extends from a depth of 472.5 meters to 561 meters with low grade copper mineralization documented from 519 meters to 543 meters.
In the north part of claim 6003, an untested soil geochemical anomaly was tested. Copper mineralization was discovered as pyrrhotite and chalcopyrite veinlets in felsic volcanic associated with the soil anomaly. Copper mineralization was also discovered in this area in 2014 and a soil survey on claim 7045 to the west have unexplained copper and lead anomalies which may be associated with previously mentioned soil anomaly and this horizon.
To the south on Claim 6005, two drill holes were put down to test a soil anomaly apparently associated with a historical drill hole, dating to about the 1956 to 1958 era, with a reported value of more than 2% copper. No indication of any mineralization was discovered in the two drill holes.
Preliminary results are shown below for Hole # 1571-16-002:
| Summary of Results From Drill Hole 1571-16-002 | ||||||||
| Zones | From (m) |
To (m) |
Length (m) |
Au (ppb) |
Ag (ppm) |
Cu (%) |
Zn (ppm) |
Pb (ppm) |
| 1 | 49.40 | 49.73 | 0.33 | 41 | 2.70 | 1.820 | 269 | 67 |
| 2 | 51.45 | 52.30 | 0.85 | 49 | 2.40 | 1.240 | 284 | 80 |
| 3 | 77.85 | 84.30 | 6.45 | 65 | 3.35 | 1.53 | 438 | 57 |
| includes | 77.85 | 80.70 | 2.85 | 47 | 2.78 | 1.18 | 350 | 61 |
| and | 80.70 | 81.93 | 1.23 | 28 | 1.60 | 0.18 | 401 | 48 |
| and | 81.93 | 84.30 | 2.37 | 105 | 4.94 | 2.66 | 562 | 56 |
| 4 | 112.90 | 113.30 | 0.40 | 105 | 9.6 | 7.111 | 439 | 49 |
| 5 | 121.00 | 127.00 | 6.00 | 82 | 3.92 | 3.20 | 381 | 43 |
| includes | 121.00 | 125.10 | 4.10 | 114 | 4.99 | 4.26 | 469 | 43 |
| or | 124.10 | 125.10 | 1.00 | 289 | 10.10 | 10.23 | 1014 | 76 |
| and | 126.05 | 127.00 | 0.95 | 26 | 2.60 | 1.70 | 276 | 62 |
| 6 | 141.80 | 142.90 | 1.10 | 114 | 3.55 | 2.889 | 317 | 40 |
| 142.90 | 151.10 | 8.20 | 3,6 | 0.16 | 0.065 | 59 | 21 | |
| 7 | 151.10 | 151.85 | 0.75 | 34 | 2.8 | 2.130 | 252 | 26 |
| FW Zone | 171.5 | 171.85 | 0.35 | 50 | 3.2 | 1.580 | 214 | 42 |
A total of 8 zones of copper mineralization were intersected in the above referenced Hole # 1571-16-002.
Preliminary results are shown below for Hole # 1571-16-003:
| Summary of Results From Drill Hole 1571-16-003 | ||||||||
| Zones | From (m) |
To (m) |
Length (m) |
Au (ppb) |
Ag (ppm) |
Cu (%) |
Zn (ppm) |
Pb (ppm) |
| 1 | 58.10 | 58.57 | 0.47 | 28 | 4 | 1.760 | 586 | 52 |
| 2 | 64.00 | 70.80 | 6.80 | 42 | 4.3 | 1.45 | 565 | 106 |
| includes | 64.00 | 67.10 | 3.10 | 39 | 6.0 | 2.09 | 660 | 186 |
| or | 65,50 | 67.10 | 1.60 | 75 | 11.5 | 4.05 | 1279 | 360 |
| and | 69,90 | 70.80 | 0.90 | 139 | 7.0 | 3.05 | 1033 | 58 |
| 3 | 77.70 | 78.60 | 0.90 | 76 | 2.4 | 1.220 | 328 | 44 |
| 4 | 112.65 | 112.85 | 0.20 | 60 | 6.7 | 4.330 | 592 | 42 |
| 5 | 115.25 | 120,60 | 5.35 | 64 | 4.9 | 3.65 | 445 | 49 |
| includes | 115.25 | 117.40 | 2.10 | 47 | 4.6 | 3.25 | 372 | 39 |
| and | 117.40 | 120.,60 | 3.20 | 76 | 5.2 | 3.97 | 501 | 56 |
| FW Zone | 157.30 | 158.85 | 1.55 | 343.10 | 15.00 | 13.20 | 995.00 | 91.13 |
A total of 6 zones of copper mineralization were intersected in the above referenced Hole # 1571-16-003. Samples have been sent to the lab and assays are pending.
The Chester Property is known to contain both a copper deposit and a VMS deposit. The copper deposit has an Open Pit resource with Measured & Indicated resource of 1,400,000 tonnes grading 1.38% Cu, 0.06% Zn & 3.5 g/t Ag and an inferred resource of 2,089,000 tonnes grading 1.26% Cu (assayed for Cu only).
Chris Dupont, P.Eng is the qualified person responsible for the information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).
This Press Release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Québec with approximately 33% in Ontario and 67% in Québec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.
Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:
Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows:
| Indicated: | 213,000 oz (4,283,000 tonnes at 1.55 g/t Au) | |
| Inferred: | 77,000 oz (1,140,000 tonnes at 2.09 g/t Au) |
Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows:
| Indicated: | 396,000 oz (4,420,000 tonnes at 2.79 g/t Au) | |
| Inferred: | 393,000 oz (5,185,000 tonnes at 2.36 g/t Au) |
This document may contain forward-looking statements relating to Explor’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
To view the image associated with this press release, please visit the following link: http://media3.marketwire.com/docs/1082322a.pdf
Christian Dupont, President
888-997-4630 or 819-797-4630
819-797-1870
www.explorresources.com
[email protected]
The already elevated price of coking coal could be boosted further if China decides to crack down on coal imports from its nuclear-armed neighbor North Korea.
The United Nations Security Council last week imposed fresh sanctions on North Korea, limiting its annual coal exports to 7.5 million tons, or a value of $400.9 million, after the isolated communist regime conducted a fifth nuclear weapons test.
This is significant for China’s imports of high-quality coal used to make steel, as North Korea is one of its top suppliers.
Chinese customs data show that China imported 18.517 million tons of North Korean coal in the first 10 months of the year, a gain of 12.8 percent on the same period last year.
The jump in imports from North Korea this year came in spite of earlier Chinese commitments to ban the coal trade with Pyongyang.
So far, the official line from Beijing is that China will meet its obligations under the UN Security Council sanctions, but as was the case earlier this year, it appears the commitment may not be absolute.
Earlier sanctions banning coal purchases from North Korea were not enforced by China due to an exemption allowing imports for what was translated as “the people’s well-being,†or “livelihood purposes.â€
China’s Foreign Ministry said on Dec. 1 that while it will enforce the new measures, they aren’t intended to harm “normal†trade with North Korea or impact upon civilians.
“Resolution 2321 formulates new measures, showing the resolve of the Security Council, and also points out they must avoid creating adverse consequences for North Korean civilian and humanitarian needs, and are not intended to create negative effects on normal trade,†Foreign Ministry spokesman Geng Shuang said.
Once again, it will appear to come down to what Beijing considers adverse effects on the North Korean populace, and it seems that the Chinese authorities are leaving themselves some wiggle room around the sanctions.
Bullish coking coal signal
Certainly Chinese coal traders will be happy to be allowed to continue buying from North Korea once the new measures are put in place in January.
China is believed to be the only country that buys North Korean coal, which is the biggest export earner for the dynastic communist dictatorship.
Chinese customs data classifies North Korean coal as anthracite, which is a grade of coal high in energy content, making it ideal for use in the steel blast furnaces and ceramic factories in the northeast provinces close to North Korea.
Russia is the second-largest supplier of anthracite to China, but its 1.867 million tons in the first 10 months is barely 10 percent of what was imported from North Korea.
Rather, the main import competitor to North Korean anthracite is coking coal from Australia and Mongolia.
Chinese imports of Australian coking coal were up 11.3 percent in the first 10 months of the year to 23.45 million tons, while those from Mongolia surged 75.3 percent to 17.47 million tons.
Stronger steel production and a policy directive from Beijing to limit domestic coal output has combined to send coking prices sharply higher as China sucked up every available ton from the seaborne market.
Coking coal futures on the Dalian Commodity Exchange closed at 1,276 yuan ($185.46) a ton on Dec. 2, up 126 percent from the start of the year.
These gains have been tempered in recent weeks as the Beijing authorities took actions to try to cool commodity markets, with exchanges requiring higher margins and charging increased fees.
Australian coking coal prices ended last week at $308.70 a ton, about four times the $77 recorded at the end of last year.
With coking coal in strong demand in China, the potential loss of as much as 12 million tons of North Korean coal in 2017 would be a very bullish signal for prices.
It’s possible that Beijing will force domestic coking coal miners to ramp up output, and it’s also possible that imports from North Korean won’t be cut by as much as implied by the new UN sanctions.
But for now, coking coal’s extraordinary rally this year has just been given another reason to continue.
Source: Reuters – http://www.hellenicshippingnews.com/coking-coal-surge-may-extend-if-china-cracks-down-on-north-korea/
VANCOUVER, BRITISH COLUMBIA–(Jan. 6, 2017) – Namaste Technologies Inc. (“Namaste” or the “Company“) (CSE:N) (CSE:N.CN)Â (FRANKFURT:M5BQ) announces the filing of its annual audited financial statements, management discussion and analysis, and certification of the annual filings for the year ended August 31, 2016 (collectively, the “2016 Financials“). The Company also provides investors an overview of corporate activities and outlines objectives for 2017. The statements for the period can be accessed on SEDAR at www.sedar.com.
Operational Highlights
During the financial reporting period and year-to-date, the Company focused efforts on expanding its customer base, completing a public listing on the Canadian Securities Exchange, securing growth capital, bringing the latest vaporizer and accessory products to the global market, accelerating organic sales generation from more costly pay-per-click advertising, completing strategic partnerships and acquisitions, and expanding the management team and board. As a result of these focused initiatives, the Company achieved the following:
Financial Results
During the period from September 1, 2015 to August 31, 2016, the Company’s inbound organic revenue generation strategy produced e-commerce revenue of $3,488,902 and gross profit of $1,220,474 (including all transportation and shipping costs), resulting in a 32% gross profit margin. These financial results include revenues for a 47-day period from the VaporSeller asset acquisition, which produced revenue of $394,901. On a proforma basis, including the acquisition of assets relating to URT1 Limited during Q1 of fiscal 2017, management estimates the combined assets of Namaste, VaporSeller and URT1 generated revenue of $12,423,486. 2016 financial results include the following:
2017 Corporate Objectives
In 2017, the Company will continue to focus on key objectives to deliver value to its shareholders. These objectives include the following:
Cease Trade Order
As disclosed in the Company’s press release dated January 5, 2017, trading of the Company’s common shares has been halted pursuant to a cease trade order of same date (“CTO“) issued by the British Columbia Securities Commission (the “Commission“) under National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisidictions. The filing of the 2016 Financials constitutes the Company’s application for removal of the CTO and initiates the Commission’s review process. The Company will provide additional disclosure as and when information becomes available in respect of the Commission’s review process.
Management Commentary
Sean Dollinger, President and CEO of Namaste, comments: “2016 has been a transformation year for Namaste. Looking back at the accomplishments of our team and our goals for 2017, I see nothing but opportunity. The hallmark of our team’s execution capabilities has been based on defining attainable objectives, implementing the right strategy, focusing the right people on executing that strategy, and overcoming any challenges as a team. I would like to thank all of our stakeholders for their support in 2016 and believe we will look back at 2017 with the same sense of accomplishment and optimism for the future.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 ecommerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the Company and its products can be accessed through the links below:
FORWARD LOOKING STATEMENTS
Certain statements included in this press release constitute forward-looking statements under applicable securities legislation. These statements relate to future events or future performance of the Company. All statements other than statements of historical fact are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may“, “will“, “should“, “expect“, “plan“, “anticipate“, “believe“, “estimate“, “predict“, “potential“, “continue“, or the negative of these terms or other comparable terminology. Undue reliance should not be placed on these forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements.Â
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. New factors emerge from time to time, and it is not possible for management of the Company to predict all of these factors and to assess in advance the impact of each such factor on the Company‘s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement or information. The forward-looking statements contained herein are expressly qualified by this cautionary statement. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements.
The Canadian Securities Exchange has in no way approved nor disapproved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.
Sean Dollinger
Chief Executive Officer
Direct: +1 (786) 389 9771
[email protected]
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 :
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.
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.
Click Image To View Full Size
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.
Elon Musk’s Tesla Motors says it has started producing lithium-ion battery cells at its $5 billion factory in Nevada.
The company says it began making high-performance cells in December and production started overnight for cells used in Powerwall energy-storage products.
Tesla plans to start making batteries for its Model 3 sedans later this year.
The massive Gigafactory outside Sparks is coming online in phases, with a goal of full operation in 2018.
Officials say it could almost double the world’s production of lithium-ion batteries, making them more affordable as the company looks beyond the luxury niche market.
The electric carmaker says it has more than 850 full-time employees, plus more than 1700 construction workers.
Nevada has promised Tesla $1.3 billion in state tax incentives based on projections that it’ll employ 6500 people at full production.
Source: https://thewest.com.au/business/startup/tesla-begins-lithium-ion-battery-production-at-us-megafactory-ng-b88347284z
ROUYN-NORANDA, QUEBEC–(Jan. 4, 2017) – Explor Resources Inc. (TSX VENTURE:EXS)(OTCQB:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1)Â (“Explor” or “the Corporation”) is pleased to announce the acquisition of 2 mining claims (3 mineral claim units) situated in the Porcupine mining division, district of Cochrane, in the Ogden Township, Ontario. These claims are located in Ogden Township contiguous and to the east of the Ogden Property. Highway 101 West is north of the property and provided excellent access to the city of Timmins. The claims were acquired because of encouraging results obtained in Explor’s past exploration on this property.
Explor Resources Inc. will pay CDN $1,000 and issue 100,000 common shares to acquire a 100% interest in the additional Ogden claim. The optionors have retained a 2% NSR in the property. This acquisition is subject to the approval of the TSX Venture Exchange.
With this acquisition, the Ogden property now consists of 15 mining claims (99 mineral claim units) covering 1,588 hectares situated in the Porcupine mining division, district of Cochrane, in the Ogden and Price Townships, Ontario. The Ogden property has been previously explored by Hollinger Mines, Tex-Sol Exploration, Inmet Mining Corporation, Amax Mineral Exploration, Noranda Exploration and Knick Exploration. The majority of the holes drilled by previous operators were less than 100 meters in length. Historically on the Ogden Property, the only hole that hit significant mineralization was a diamond drill hole by Tex-Sol Exploration in 1965 which returned 6.0 g/t Au over 9.1 m at a shallow depth. On the TPW Gold Property significant mineralization was intersected below 300 meters of vertical depth requiring drill holes of 500 to 600 m in length. Explor has completed a drill program on the Ogden Property with the following encouraging results:
Hole #OG-16-02 intersected 2.06 g/t Au over 1.50m from 154.5 to 156.0 meters
Hole #OG-16-05 intersected 1.99 g/t Au over 1.80m from 438.0 to 439.8 meters.
The preliminary exploration program conducted by Explor consisted of six NQ holes for a total of 3,648 meters of diamond drilling. The holes averaged 600 meters in length. The property was found to contained favourable geology to host gold mineralization. The diamond drill program used geophysical targets identified by Explor’s ground geophysical surveys conducted by Explor and Knick Exploration. The program was successful in that all IP targets were intersected. The geological environment identified was similar to the Timmins Porcupine West Property. Rock type intersected included Quartz Feldspar Porphyry (QFP), Mafic Volcanics, and Sulfide zones containing fine grain pyrite mineralization.
The most significant deposits in Timmins are spatially associated with porphyry units that are in proximity to the Porcupine Destor Fault. The deposits appear to be also associated with splay faults that trend off and to the North of the Porcupine Destor fault inside an interpreted splay fault corridor.
Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture (EXS), on the OTCQB (EXSFF) and on the Frankfurt and Berlin Stock Exchanges (E1H1).
This Press Release was prepared by Explor. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Québec, Saskatchewan and New Brunswick. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Québec with approximately 33% in Ontario and 67% in Québec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Corporation was continued under the laws of Alberta in 1986 and has had its main office in Québec since 2006.
Explor Resources Flagship project is the Timmins Porcupine West (TPW) Project located in the Porcupine mining camp, in the Province of Ontario. Teck Resources Ltd. is currently conducting an exploration program as part of an earn-in on the TPW property. The TPW mineral resource (Press Release dated August 27, 2013) includes the following:
| Open Pit Mineral Resources at a 0.30 g/t Au cut-off grade are as follows: | ||||
| Indicated:Â Â Â Â Â Â Â Â Â | 213,000 oz (4,283,000 tonnes at 1.55 g/t Au)Â | |||
| Inferred:Â Â Â Â Â Â Â Â Â Â Â Â | 77,000 oz (1,140,000 tonnes at 2.09 g/t Au) | |||
| Underground Mineral Resources at a 1.70 g/t Au cut-off grade are as follows: | ||||
| Indicated:Â Â Â Â Â Â Â Â Â | 396,000 oz (4,420,000 tonnes at 2.79 g/t Au) | |||
| Inferred:Â Â Â Â Â Â Â Â Â Â Â | 393,000 oz (5,185,000 tonnes at 2.36 g/t Au) | |||
This document may contain forward-looking statements relating to Explor’s operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Explor’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Explor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
Explor Resources Inc.
Christian Dupont
President
819-797-1870
888-997-4630 or 819-797-4630
[email protected]
www.explorresources.com
Solar manufacturers led by China’s Trina Solar Ltd. are probably selling at a loss after prices fell to a record low this week.
The global spot market price for solar panels fell 2.4 percent to an average of 36 cents a watt on Dec. 28, according to PVinsights.
That’s the bottom end of the cost range for most producers in the third quarter, according to Jeffrey Osborne, an analyst at Cowen & Co. Suppliers are expandingcapacity this year while demand is expected to slow in 2017, helping to push prices down.
“Certainly it would be a challenge for anyone to make money at that price,†Osborne said in an e-mail. “The blended cost for most last quarter was about 36 cents to 38 cents.â€
The current price is also lower than cost estimates from Trina. The biggest supplier of 2015 expected to reduce costs to about 40 cents a watt by the end of the year, from 45 cents in the second quarter, Chief Financial Officer Merry Xu said in an August conference call. The Changzhou, China-based company’s shareholders on Dec. 16 agreed to a $1.1 billion deal to take the company private. A spokesman declined to comment Friday.
Some companies’ cost structures remain competitive, even with prices this low.
Canadian Solar Inc., the second-biggest supplier, reported costs of 37 cents in the third quarter, down from 39 cents in the second quarter. The company has said its costs are among the lowest in the industry, and it expects to reach 29 cents a watt by the fourth quarter of 2017. Many of its competitors expect costs in the low 30s by then, Osborne said.
 
CALGARY – A tiny Vancouver-based mining company is betting Alberta’s energy sector could benefit from the rise of electric vehicles by harvesting its oilfield wastewater for lithium carbonate.
MGX Minerals Inc. has been buying up metal and minerals permits in Alberta’s oil and gas producing regions but has no intention of mining the areas for lithium carbonate, which is used to make batteries for electric vehicles.
Instead, Jared Lazerson, MGX’s president and CEO, said the company is working to sign agreements with oil and gas producers to process their wastewater, a byproduct of oil and gas production, so the company can extract the lithium carbonate from that water, which would otherwise simply be treated like waste.
MGX claims to be the “largest lithium brine land holder in Canadaâ€Â with permits covering over one million barrels per day of brine production by various oil field operators throughout Alberta.
While MGX has yet to deploy a pilot project in the oilfield (a pilot is scheduled to begin in the first quarter of 2017), in December the company signed an agreement with oilsands giant Canadian Natural Resources Ltd. to work on the Sturgeon Lake region, near Grande Praire, Alta.
“Canadian Natural has allowed a third party to obtain water samples from our operations for their work in lithium carbonate,†CNRL spokesperson Julie Woo said in an email. “Beyond that, no decisions, plans or commitments have been made on the application of this technology in Canadian Natural’s operations.â€
Lazerson said he hopes that MGX’s technology, for which it has filed patents, will allow oil and gas producers to help supply new energy markets, including the market for electric vehicles.
“Who better to have a big piece of the new energy sector than the energy sector?†he said. “I think there are going to be incredible efficiencies from oil and gas and new ideas as word starts to get out.â€
Wood Mackenzie analysts expect lithium demand will double by 2024 as more and more consumers, especially in Europe, purchase electric vehicles.
Lithium prices have spiked in recent years because, as Wood Mackenzie noted in a November report, that lithium ion “has become the technology of choice†for electric vehicles.
The commodity is not traded on any exchange, however, and analysts say that current prices – which have reached US$10,000 per tonne – are likely to fall as new supplies become available.
“The trick isn’t finding lithium, the trick is producing it inexpensively,†Stormcrow Capital president and lithium analyst John Hykawy said in an email.
Hykawy said there are several companies attempting to produce lithium using water treatment technologies like reverse osmosis and nano-filtration but cautioned these are early-stage technologies being developed in a time of high prices.
Most of the lithium carbonate produced in the world is produced in South America’s “lithium triangle,†— the salt flats in Bolivia, Chile and Argentina — where new projects are also set to begin production.
“Prices will fall again, it might take a year or two,†Hykawy said. “But almost none of the smaller companies in the space, with the exception of Orocobre Ltd., are in a position to produce and have their profits benefit from these high prices. By the time most will be able to sell something, prices will be back to lower levels.â€
MGX’s Lazerson hopes to move from a pilot project in the first quarter of next year to a full-scale commercial project by the third quarter. MGX, which trades on the alternative Canadian Securities Exchange, has seen its share price rise 110 per cent this year.
The company’s goal, Lazerson said, is to connect its water-treatment units with oil and gas operators in regions where they produce between 12,000 barrels per day to 20,000 bpd.
“Big picture, this is an add-on to oil and gas,†Lazerson said, adding that he thinks energy companies will see the value in the minerals in their waste and venture with MGX to process their water.
Financial Post
Twitter.com/geoffreymorgan
Source: http://business.financialpost.com/news/vancouver-mining-company-plans-to-scour-oilfield-waste-for-us10000-per-tonne-lithium?__lsa=0ccc-5bdd