(TheNewswire)
May 8th, 2017 / TheNewswire / Vancouver, British
Columbia; - LiCo Energy Metals Inc. (“the Company “or” LiCo”) TSX-V: LIC; OTCQB: WCTXF is pleased to announce that a
TEM geophysical survey has commenced at the Purickuta Project located within the Salar de Atacama, Chile. The Transient
Electromagnetic Method (TEM) geophysical survey provides detailed information on sub-surface conductive layers that can be used to
prioritise the most optimum drilling locations. A preliminary interpretation of the data should be available
shortly.
Also, the company has received and is reviewing drilling quotes from several well-respected drilling companies.
Core hole drilling and brine sampling, to a depth of 200m, is planned to commence as soon as exploration work notices have been
filed and accepted by the mining Ministry.
“ Salar de Atacama is considered to represent our planet's largest deposit
of economically recoverable Lithium and is very well known for its Lithium production by our neighbors SQM
and Rockwood/Albemarle. With positive exploration results we will strive to move the project forward
to commercial viability as rapidly as possible .” commented Mr. Tim Fernback, President and
CEO of LiCo.
The Company holds an option to acquire up to a 60% interest in the Purickuta Exploitation concession (the
“Property”). The technical content of this news release has been reviewed and approved by Alan Morris CPG and Qualified
Person.
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.
Chile Purickuta Lithium Project:
The Purickuta Project is located within Salar de Atacama, a salt flat encompassing 3,000 km2, being about 100
km long, 80 km wide and home to approximately 37% of the worlds Lithium production. The salar possesses a very high grade of
both Lithium (1,840mg/l) and Potassium (22,630mg/l and is close to power, labour, communications, transportation and other
infrastructure. The property of 160 hectares is enveloped by a concession owned by Sociedad Quimica y Minera (“SQM”) and
lies, significantly, within a few kilometers of the property of CORFO (the Chilean Economic Development Agency) where its leases to
both SQM and Albermarle’s Rockwood Lithium Corp Together these two companies have combined production of over 62,000 tonnes of LCE
(Lithium Carbonate Equivalent) annually making up 100% of Chile’s current lithium output. The unique characteristics of Salar
de Atacama make finished lithium carbonate easier and cheaper to produce than any of its peer group globally.
Purickuta is a smaller exploitation concession rather than a large exploration concession thereby accelerating
the task of taking the project to production once a measured reserve can be established. Currently, the Chilean government
retains ownership of lithium separate from other minerals and thus production can only proceed upon receipt of a special lithium
operation contract know as a “CEOL”. In the future, it will be necessary for LiCo and partner to negotiate a
production contract with CORFO concurrently with completing any positive feasibility study. “Chile, which has one of the
world's most plentiful supplies of lithium, is pushing ahead with new policies to develop those reserves”. (Reuters Jan2,
2017).
Ontario Teledyne Cobalt Project:
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.
Nevada Dixie Valley Lithium Project:
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.
Nevada Black Rock Desert Lithium Project:
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 128 placer claims (2,560
acres/ 1,036 hectares) in southwest Black Rock Desert, Washoe County, Nevada.
The Company is planning an exploration programs for all its properties over the next several months.
On Behalf of the Board of Directors
Tim Fernback, 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 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.
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