(TheNewswire)
Vancouver, British Columbia / TheNewswire / November 1, 2017- LiCo Energy Metals Inc.
(“the Company“ or “LiCo”) TSX-V: LIC; OTCQB: WCTXF is pleased to update its shareholders on the current diamond drilling
program for its Teledyne and Glencore Bucke Cobalt Properties situated in Bucke and Lorrain Townships, 6 km
east-northeast of Cobalt, Ontario, as originally announced on September 12th, 2017.
The Company has recently completed drilling 19 holes for a combined depth of approximately 2,000 meters on its two
cobalt mineral exploration properties in Ontario. Visual mineralization is present in all drill holes completed to date.
On the Glencore Bucke Property, the Company has completed a total of 16 holes for approximately 1,400 metres of
drilling, testing the Main and Northwest zones on the Glencore Bucke Property. Visual cobalt camp style mineralization has
been noted in every drill hole that the Company has completed. The historical drilling program outlined two separate vein systems
hosting significant cobalt and silver values. The Main Zone, currently is 152 m in length, and the Northwest Zone, measuring 70 m
in length. The Main Zone had a north-south strike, which is hypothesized as the southern extension of the #3 vein from the Cobalt
Contact Mine located immediately to the north of the Property (Bresee, 1982).
On the Company’s adjoining Teledyne Property, a second drill rig has been recently added by the Company to expand its
overall drilling program in the area. As of the date of this news release, the Company has been able to complete 3 - 200
metre drill holes for approximately 600 metres of new drilling. The second drill has also visually intersected Cobalt camp
style mineralization in each drill hole that is testing the cobalt/silver targets on the Teledyne Property.
Tim Fernback, President & CEO of LiCo, states “Building on what can be described as a successful start to LiCo’s fall
exploration program, the first drill hole on Teledyne has been drilled to test the cobalt/silver targets of the Teledyne Property
that were previously identified by Teledyne Canada Ltd. Drill targets on the Teledyne and Glencore Bucke Property are
considered to be extensions from the past producing Agaunico Mine and Cobalt Contact property respectively. The core samples from
the initial drill holes have recently been sent to the laboratory for analysis and we are anxiously waiting to receive the
results.” For more information on LiCo’s Teledyne and Glencore Bucke Properties listen to Tim Fernback’s latest audio interview
with SmallCapVoice.com here: http://smallcapvoice.com/blog/10-23-17-smallcapvoice-interview-with-lico-energy-metals-inc-wctxf/
.
LiCo will remain drilling on the Glencore Bucke property, while the second drill rig will be used to test the drill
targets identified by management on the Teledyne Property. The Teledyne and Glencore Bucke Properties are managed by Joerg
Kleinboeck, P.Geo. (LiCo’s QP), and supervised by Mr. Dwayne Melrose, Director and Head of the Technical Advisory
Board of LiCo.
The overall drilling program will be conducted as part of LiCo’s flow thru financing and work commitments for the
Glencore Bucke and Teledyne Properties.
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About LiCo Energy Metals : https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canadian based exploration company whose 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.
Glencore Bucke Cobalt Project, Cobalt, Ontario : The Company has
entered into a property purchase agreement to acquire a 100% interest from Glencore Canada Corporation (subsidiary of Glencore plc)
in the Glencore Bucke Property, situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario, subject to a back-in
provision, production royalty and off-take agreement. Strategically, the Glencore Bucke Property consists
of 16.2 hectares and sits along the west boundary of LiCo’s Teledyne Cobalt Project. The Property covers the southern
extension of the #3 vein that was historically mined on the neighbouring Cobalt Contact Property located to the north of the
Glencore Bucke Property. Diamond drilling in 1981 on the Glencore Bucke Property delineated two zones of mineralization
measuring 150 m and 70 m in length.
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.
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 Jan 2, 2017).
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 100% interest,
subject to a 3% NSR, in the Black Rock Desert Lithium Project in southwest Black Rock Desert, Washoe County, Nevada.
The Company is planning an exploration programs on a number of its properties over the next several months.
The technical content of this news release has been reviewed and approved Joerg Kleinboeck, P.Geo., an independent consulting
geologist and a qualified person as defined in NI 43-101.
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, 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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