NEW YORK, January 18, 2018 /PRNewswire/ --
According to a report by Technavio, the global tantalum market is anticipated to grow at a steady rate and will post a CAGR of
more than 3% during the forecast period of 2017-2021. The report indicates that an increasing penetration of smartphones is
triggering the demand for capacitors, which will drive the growth prospects for the global tantalum market for the next four years. The
shipment for smartphones are likely to increase by 1.3 billion units in the next few years, which a direct impact of developing
economies adopting technology and developing internet infrastructures. Similarly, the lithium market is expected to grow in
demand, as Li-ion batteries are broadly used as a power supply for consumer electronics as well as hybrid and electric vehicles
(EVs). A report by Global Market Insights, Inc. indicates that the global Lithium Ion Battery Market is expected to
surpass USD 60 billion by 2024. Power Metals Corp. (OTC: AOUFF), Advantage Lithium Corp. (OTC: AVLIF), Lithium X
Energy Corp. (OTC: LIXXF), Galaxy Resources Limited (OTC: GALXF), Pilbara Minerals Limited (OTC: PILBF)
A lead metals and minerals research analyst at Technavio, Mahitha Mallishetty, explained, "The range of EVs can be improved,
and the fuel consumption of hybrid EVs can be reduced using lithium-ion batteries. The diverse types of rechargeable batteries,
distinguished by the materials used for the electrodes and electrolytes, have a short-range due to lower energy density and have
a short operational life when compared with that of lithium-ion batteries. Growth in vehicle fleet leads to a proportionately
faster change in the acceptance of EVs, thereby providing growth prospects for the global lithium market."
Power Metals Corp. (OTC: AOUFF) is also listed on the TSX Venture Exchange under the ticker symbol 'PWM'. Earlier today
the company announced, "drill hole assays for lithium (Li) and tantalum (Ta) mineralized intervals for the Main Dyke at Case
Lake, east of Cochrane, Ontario. Significant intervals for the Main Dyke include:
- PWM-17-35: 1.17 % Li2O and 165.34 ppm Ta over 8.0 m
- PWM-17-40: 2.07 % Li2O and 213.96 ppm Ta over 18.0 m
- PWM-17-40: 2.81 % Li2O and 143.33 ppm Ta over 7.0 m
Power Metals is also pleased to announce drill hole assays for the two new spodumene pegmatite dykes that were discovered down
hole of the Main Dyke near the end of the 2017 drill program (Power Metals press release dated Nov. 27,
2017). The first new dyke was intersected in PWM-17-42 and 43 and then targeted to intersect it again in PWM-17-44 and 49.
This new dyke is located 20-40 m down hole from the Main Dyke and 35-40
m vertical depth from the surface. The second new dyke was intersected in PWM-17-42 and 49. It is located 50 m down hole from the Main Dyke and 50-80 m vertical depth from surface. Both
new dykes are open in all directions. Drilling is required to define these new dykes.
Assay highlights for the first new dyke include:
- PWM-17-42: 0.99 % Li2O and 88.33 ppm Ta over 3.0 m
- PWM-17-43: 0.85 % Li2O and 94.10 ppm Ta over 1.15 m
- PWM-17-44: 1.11 % Li2O and 73.0 ppm Ta over 6.42 m
Power Metals has an ongoing 2000 m drill program on the Northeast Dyke that started January 10 th, 2018.
Dr. Selway, VP of Exploration stated "The assay highlights for hole 40 are spectacular with 18.0
m of 2.07 % Li2O and I look forward to reviewing the assays for the remaining holes of the drill program. The
assays for the first new dyke suggest that this dyke has real exploration potential and is a future target. During the
first few days of drilling on the Northeast Dyke we have been thrilled with what we have seen to date. We will provide
updates as they become readily available."
The drill core was sampled so that 1 m of the Case Batholith tonalite host rock was sampled
followed by 1 m long samples of the pegmatite dyke and 1 m of the
Case Batholith. The sampling followed lithology boundaries so that only one lithology unit is within a sample, except for the
< 20 cm pegmatite veins in tonalite which were merged into one sample. The drill core samples were delivered to Actlabs
preparation lab in Timmins by Power Metals' geologists. The core was crushed and pulverized in
Timmins and then shipped to Actlabs analytical lab in Ancaster
which has ISO 17025 certification. Every 20 samples included one external quartz blank, one external lithium standard and one
core duplicate. The ore grade Li2O% was prepared by sodium peroxide fusion with analysis by ICP-OES with a detection limit of
0.01 % Li2O.
Case Lake Property is located in Steele and Case townships, 80 km east of Cochrane,
NE Ontario close to the Ontario-Quebec border. The Case Lake pegmatite swarm consists of five dykes: North, Main, South, East and Northeast
Dykes. The Northeast Dyke contains very coarse-grained spodumene. Power Metals has an 80% interest with its 20% working interest
partner MGX Minerals Corp."
Advantage Lithium Corp. (OTCQX: AVLIF) is a company specializing in the strategic acquisition, exploration and
development of lithium properties. On January 17th, Advantage Lithium Corp announced an
update on the brine sampling of diamond core hole CAU15 in the south of the previously undrilled NW Sector of the Cauchari JV
property located in Jujuy Province, Argentina. President & CEO, Mr. David Sidoo,
commented: "With the results from CAU15 we now have important additional information in the NW Sector that suggests the
potential for excellent hydraulic parameters in this area, with an abundance of sandy units that are likely to support relatively
high brine flow rates. The Mg/Li ratio is broadly similar to other holes in the project area and confirms the expectation of
applying the conventional Olaroz process to the Cauchari brine. We will evaluate the high grade brine further in the deepening of
CAU07, with preparations underway to drill holes CAU17 and CAU18 as part of the 2018 drilling program in the NW Sector."
Lithium X Energy Corp. (OTCQX: LIXXF) is a lithium exploration and development company with a goal of becoming a
low-cost supplier for the burgeoning lithium battery industry. Lithium X Energy Corp. and Nextview New Energy Lion Hong
Kong Limited announced on December 18th, that they have entered into a definitive agreement,
pursuant to which NextView has agreed to acquire all of the issued and outstanding common shares and warrants of Lithium X (the
"Arrangement"). Lithium X's flagship project, Sal de los Angeles lithium brine project, as well as
Arizaro Lithium Brine Project are located in the prolific "Lithium Triangle" in mining friendly Salta province, Argentina.
Lithium X Chairman, Paul Matysek and Brian Paes-Braga, Founder, CEO
and Director, stated: "We believe this $265 million transaction puts our flagship asset,
Sal de los Angeles, in the hands of a well-funded, technically capable team."
Galaxy Resources Limited (OTC: GALXF) is an international company with lithium production facilities, hard rock mines
and brine assets in Australia, Canada and Argentina.
On December 4th, Galaxy Resources Limited announced a significant mineral resource upgrade resulting from the 2017 drilling
campaign at the James Bay Project in Quebec, Canada. Managing Director of Galaxy
Resources, Anthony Tse said, "One of the key attributes of the James
Bay project is that due to its high grade, scale, low stripping ratio and superior location, it will be one of the lowest
cost hard rock lithium projects in the world. The pegmatite system is substantial in size and the deposit remains open at depth
and also open to the east, which offers significant potential for growth, both in terms of the resource and ultimately future ore
reserve."
Pilbara Minerals Limited (OTC: PILBF) is an emerging lithium and tantalum producer focused on the development of its
100% owned Pilgangoora Lithium-Tantalum Project, located approximately 120kms from Port Hedland in the Pilbara region of Western
Australia. Pilgangoora has been confirmed as one of the largest spodumene (lithium pyroxene) and tantalite projects in the
world and is set to be developed into one of the world's largest lithium mines, also producing tantalite as a valuable
by-product. The ability to manufacture high-value battery-grade lithium products through downstream processing has the
potential to deliver significant additional value for Pilbara in the years ahead, with global demand for lithium-ion batteries
expected to experience unprecedented growth over the coming decades.
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