GM Commits $625M to Thacker Pass Lithium Project Today, General Motors announced that it is committing $625 million to the Thacker Pass Lithium Project in Nevada as part of its efforts to secure a domestic supply of the metal crucial for electric vehicle batteries.
This builds on a previous $320 million GM invested in Lithium Americas Corp. in 2023 and will help unlock a $2.3 billion funding package from the US Energy Department, including an additional $430 million cash lifeline from GM, supporting Lithium Americas during a period of slumping lithium prices.
This is a highly positive development for the industry as a whole, highlighting the growing demand for the metal and signaling strong confidence. Further, this suggests that major players in the mining industry are aggressively expanding their lithium portfolios to meet the rising demand for energy transition materials, underscoring the long-term growth potential in the sector. (Source: https://www.miningweekly.com/article/gm-backs-biggest-us-lithium-project-with-625m-investment-2024-10-16)
High-Grade Lithium Concentrations Reported Across Multiple Zones Discovered in Saskatchewan
EMP Metals (EMPS.c EMPPF) has positioned itself as a high-potential opportunity, following recent discoveries and reports of high-grade lithium concentrations within the Duperow formation in Saskatchewan.
Benefitting from strong partnerships with experienced oil and gas developers, including Koch Technology Solutions, which provide expertise in advancing projects from discovery to production, EMP recently announced high-grade lithium concentrations across multiple zones from step-out drilling 10 kilometers north of its initial discovery, significantly reducing project risk.
Notable results include lithium concentrations of 157 mg/L and 139 mg/L, consistent with earlier discoveries, as well as new lithium-bearing zones testing at 72 mg/L, highlighting the potential for resource expansion.
Further de-risking the project, the 10-kilometer step-out confirmed the continuity of the lithium resource across the company’s land holdings.
With lithium concentrations exceeding 2,000 mg/L, EMPS is planning a resource estimate update and advancing horizontal well testing for lithium brine extraction, positioning itself to become a key player in the lithium industry as it targets the growing demand for battery-grade lithium carbonate in the electric vehicle and energy storage markets.
For more information on the latest news, refer to this deep dive: https://www.reddit.com/r/PennyStocksCanada/comments/1fut78q/why_direct_lithium_extraction_dle_could_be_the/
Posted on Behalf of EMP Metals Corp.