Lithium Gold Rush Continues as Demand Skyrockets for Electric Vehicles and Renewable Energy
Palm Beach, FL – April 24, 2023 – FinancialNewsMedia.com News Commentary – North America needs to race to find new supplies and production of lithium as automakers ramp up manufacturing of electric vehicles and demand grows for renewable energy options. Lithium is used in electric car batteries because it is lightweight, can store lots of energy and can be repeatedly recharged. Analysts estimate that lithium demand is going to increase tenfold before the end of this decade as big manufacturers such as Tesla, Volkswagen, General Motors and other automakers introduce dozens of electric models. Other ingredients like cobalt are needed to keep the battery stable. Most of the raw lithium used domestically comes from Latin America or Australia, and most of it is processed and turned into battery cells in China and other Asian countries. Global demand for lithium batteries is expected to surge more than five-fold by 2030, public-private alliance Li-Bridge said recently, as more people opt for electric vehicles and energy storage systems. Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade, but still the country is expected to depend on imports for supply, the report added. Active mining companies in the markets this week include: Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), LithiumBank Resources Corp. (OTCQX: LBNKF) (TSX-V: LBNK), Atlas Lithium Corporation (NASDAQ: ATLX), Allied Copper Corp. (OTCQB: CPRRF) (TSX-V: CPR), Brunswick Exploration Inc. (OTCQB: BRXWF) (TSX-V: BRW).
The article continued: “Demand for EVs has soared over the past few years, as climate-conscious consumers snap up cars with electric powertrains, amid soaring fuel prices. Lithium batteries that would power a range of vehicles over the next few years will also be essential to military systems and consumer, medical, and industrial electronics. According to the Li-Bridge report, under current conditions U.S. companies and workers will capture less than 30% of the value of cells consumed domestically. “The lack of a substantial lithium battery supply chain in the United States and the lack of secure access to energy materials pose serious threats to U.S. national and economic security,” Li-Bridge said.
Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI) BREAKING NEWS: Indigo Exploration Engages GLJ Ltd. To Conduct Inaugural Sampling Program – Indigo Exploration Inc. (the “Company”) is pleased to announce the engagement of GLJ Ltd. (“GLJ”) to oversee a sampling and brine testing study of Indigo’s Fox Creek West and Fox Creek East Projects, located in west-central Alberta (c.f. Figure 1), approximately 250 km northwest of Edmonton. GLJ is one of the premiere global energy consultants with over 50 years of experience in meeting the world’s need for responsible, sustainable energy. Their team of engineers, geoscientists and business professionals are international leaders in both traditional and emerging energy services in best-in-class reservoir engineering and geoscience advisory and evaluation services for the energy industry.
“We are excited to lay the foundation for the sampling of our lithium projects, with the first being our Fox Creek projects, which will culminate in the tabling of a maiden lithium brine resource by the fall of this year. The engagement of world-renowned GLJ Ltd. not only demonstrates our commitment to working with leaders in the industry but also a testament to the calibre of talent our project attracts” commented CEO, Paul Cowley.
Indigo is currently working with several oil and gas operators, with active producing wells on the permits, to collect brine samples that will be used to estimate potential resource in place and verify historical results. These samples are expected to be used to complete a preliminary NI 43-101 mineral resource estimate. CONTINUED… Read this and more news for Indigo Exploration at: https://www.indigoexploration.com/news/news-2023
In other market news of interest:
Atlas Lithium Corporation (NASDAQ: ATLX), a mineral exploration company with over 75,000 acres of hard-rock lithium mineral rights, recently identified lithium mineralization that is both superficial and high-grade. Atlas Lithium’s intersect of 4.40% Li2O in its drill hole DHAB-68 is one of the highest grades reported at a spodumene deposit in Minas Gerais’ Lithium Valley based on publicly-available data. Drill hole DHAB-68 is located at the southwestern portion of Atlas Lithium’s 1.1 kilometer-long Anitta pegmatite target (“Anitta”), which remains open for expansion along strike and at depth.
In DHAB-68, the lithium mineralization intersects comprised a total of 43.61 meters, including a 25.43-meter interval with an average concentration of 1.44% Li2O. Importantly, in DHAB-68, lithium mineralization started at a depth of only 26.28 meters, which is considered superficial. Such relative high-grade and superficial lithium mineralization has also been observed in qualitative analysis of core samples from nearby drill holes for which the geochemical data is forthcoming. Overall, in the opinion of the Company’s technical team, such results enhance the likelihood of an open pit operation for extraction. Mining engineering considerations are key when assessing the economic potential of a hard-rock lithium deposit.
Allied Copper Corp. (TSX-V: CPR) (OTCQB: CPRRF), is pleased to announce 99.9% approval by shareholders for the Company name change to Volt Lithium Corp. (“Volt” or the “Company”) at the Special Meeting of Shareholders held yesterday, April 20, 2023. This name change represents another critical step in the corporate transition to Volt, a lithium development and technology company aiming to be North America’s first commercial producer of lithium from oilfield brine.
In addition, the shareholders also overwhelmingly approved the expansion of the board to six members, and the election of Mr. Maury Dumba to the board. Maury brings over 34 years of oil and gas industry experience across North America, having held executive leadership roles and management positions in Corporate Development and Marketing.
Brunswick Exploration Inc. (OTCQB: BRXWF) (TSX-V: BRW) is pleased to announce that the Anatacau West maiden drill program has been completed and that drilling has intersected multiple spodumene-bearing pegmatites. The Anatacau West Project is located in the Eeyou Istchee-James Bay region of Quebec near Allkem’s James Bay Lithium Project.
Mr. Killian Charles, President and CEO of BRW, commented: “We are pleased that we have successfully identified significant spodumene mineralization in our maiden drilling campaign. Several lithium pegmatite dykes were intersected that remain open at depth and along strike to the south. While the Anatacau West Project remains poorly explored and merits further work this summer, we remain focused on continuing our ambitious Canada-wide exploration campaign as we seek to delineate new prospective lithium-bearing pegmatites. This phase of drilling at Anatacau West is over and we now look forward to sharing more details on our next drill campaign at the Hearst Project before the end of the month.”
LithiumBank Resources Corp. (TSX-V: LBNK) (OTCQX: LBNKF) is pleased to announce it has signed a Memorandum of Understanding “(MoU”) with ZS2 Technologies Inc. (“ZS2”). The MoU will enable ZS2 to deploy their proprietary and patented CO2 Direct-Air-Capture (“DAC”) technology to capture carbon dioxide emissions from the Boardwalk and Park Place projects in central Alberta, Canada. ZS2 will also further process treated brine to collect magnesium (Mg) and calcium (Ca) for use in their proprietary magnesium cement products.
“In our view, partnering with the extraordinary team at ZS2 is truly a game-changer in the lithium brine industry,” commented Paul Matysek, Executive Chairman, LithiumBank. “The potential to be a carbon neutral lithium producer in Alberta has been a goal of the Company from the outset and we now have a line of sight to achieving our goal. We are very excited to collaborate with ZS2 Technologies and enhance the economic and environmental benefits of our Alberta brine projects. Beyond just the value of carbon capture, we will be able to co-produce other critical minerals like magnesium as well as reducing our brine reinjection requirements. Our agreement will allow ZS2 to produce a high demand, low-carbon cement product among other by-products that can be used in our lithium processing facility further reducing our operating costs. We look forward to expanding and enhancing our partnership as we move towards a carbon neutral combined lithium-magnesium-calcium commercial production facility that will set LithiumBank apart from its peers.”
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