NEW YORK, October 15, 2018 /PRNewswire/ --
The growing adoption of electric-vehicles (EV) and the subsequent need for lithium-batteries is increasing the demand for two
critical raw materials, lithium and cobalt. According to a report published by McKinsey & Company, the demand for cobalt is
expected to increase by 60% to reach 222 kilotons of refined metal equivalent by 2025, up from 136 kilotons in 2017. The demand
for lithium will increase more than threefold, to 669 kilotons of lithium carbonate equivalent (LCE) between 2017 and 2025. The
price of cobalt and lithium has spiked in recent years due to the increasing demand and its limited supply. More than 65% of
cobalt production is concentrated in the Democratic Republic of the Congo (DRC), while the
lithium supply comes from Australia, China, and Latin America. European Electric Metals Inc. (OTC: EVXXF), EMX Royalty Corporation (NYSE: EMX), Avino Silver & Gold Mines Ltd. (NYSE: ASM), NRG Metals Inc. (OTC: NRGMF), Nemaska Lithium, Inc. (OTC:
NMKEF)
The development of EVs has accelerated in recent years due to the growing awareness of environmental issues, such as global
warming. According to the International Energy Agency, the number of electric and plug-in hybrid cars on the world's roads
surpassed 3 Million in 2017, representing a 54% increase when compared with 2016. The IEA said in the report: "Additionally, the
capacity to refine and process raw cobalt is highly concentrated, with China controlling 90% of
refining capacity. Even accounting for ongoing developments in battery chemistry, cobalt demand for EVs is expected to be between
10 and 25 times higher than current levels by 2030."
European Electric Metals Inc. (OTC: EVXXF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: EVX).
Last week, the Company announced breaking news that, "it has entered into an agreement to acquire 100% of the issued and
outstanding shares of Gerold Sh.pk. ("Gerold"), an arm's length party, which holds the Skroska Iron-Nickel mine ("Skroska") in
Albania.
Gerold previously ran a 200 tons per day mine at Skroska, a fully permitted mining operation covered by a 20-year mining
license, which was issued in 2008. Gerold conducted mining operations on Skroska from 2008-2013 using an open stope method. The
operation previously focused on nickel production and the mine was put on care and maintenance in 2013 due to low nickel prices.
EVX's geological team believed there was potential for high-grade cobalt in this geological setting and during sampling realized
this potential.
All underground infrastructure and mining equipment necessary to conduct mining operations is in place, owned and onsite. The
mine is 16 kilometers on a paved road to a rail loading station that connects the mine to a shipping port. In addition to the
commencement of mining operations, the Company will also target to confirm and expand the historic resource through drilling and
undertake a study to evaluate an expansion of the historic mining rate.
EVX geologists investigated the possibility of higher-grade cobalt zones at Skroska, believing there may be similarities
between mineralogy of Skroska laterite deposit and the Geovic's Cameroon laterite deposit.
During sampling at the Skroska the EVX geological team took 18 laterite samples collected from 10 different underground
locations. The assays ranged from 0.05% to 0.54% Co and from 0.36% to 1.92% Ni. Ten of these samples assayed 0.15% Co and above
and are shown in the table below. The presence of this cobalt-rich laterite had not been previously recognized at Skroska.
…The samples were taken vertically from the pillars/columns of the mine and have widths varying from 0.40 meter to 1.10
meters. Where two samples have the same preceding number (i.e. 7A and 7B) it means they were taken
from the same location and are contiguous. The majority of the samples were collected at Level-815 of the underground mine, with
three samples taken at Level-850. The sampling program covered a lateral distance of approximately 420 meters. The location of
the samples and their corresponding assays are shown in the Company's website (http://www.europeanelectricmetals.com )
The samples were sent to ALS Lab in Serbia for preparation and sent to their laboratory in Ireland for analysis. The analytical suite selected was ME-XRF12n. This analytical suite is suitable in the
analysis of ore grade nickel laterite samples.
Mr. Fred Tejada, EVX CEO and Director states, 'We are excited our geological team recognized
the potential for the cobalt-rich horizons at Skroska and very pleased that this potential has been confirmed in the sampling
program, via high grade cobalt results. This transaction represents a major step towards our goal of becoming an ethical source
of high-grade cobalt production, within a European setting.'
The Skroska Mine - The Skroska deposit had a historic resource of 22.4 million tons grading 0.99% Ni, 50% Fe and 0.065% Co.
The reserve is historic in nature (see note below). The laterite deposit ranges from 2 meters to 10 meters in thickness and
averages 6 meters thick. It occurs between the ultramafic rocks (serpentinized) below and limestone on top or as a capping. The
limestone is a competent rock which makes it a natural roof for the open stope underground mining method employed in the mine.
Approximately 100,000 tons were mined by Gerold at an operating rate of 200 tons per day and 55,000 tons were shipped to
China, while about 15,000 tons in Macedonia (information
provided by Gerold Sh.pk. personnel). The rest of the mined materials are stockpiled in the mine site (the stockpile is not
included in the Agreement). Prior to Gerold, mining was conducted by a state-run enterprise from 1985 to 1990 extracting 1.054
million laterite ore and delivering to the Elbasan Ferro-Nickel smelter some 58 kms to the west of the mine (based on available
government information).
Based on the sampling done by EVX in July 2018, the mine openings (haulage, development and
production areas) were observed to be accessible and free of major blockages. Electrical power supply to the underground areas
was available while major mine equipment both inside the underground works and on the surface were observed to be in good
condition and are reported to be operational. The Company's geologists persisted in looking at the possibility of higher grade in
some of the deposits similar to grades in the Geovic Cameroon deposit. Having had indications of elevated Co in prospecting done,
the Company's geologists conducted a 2-day sampling program in Skroska in July. EVX geologists sampled the appropriate horizons
and came back with very high cobalt grades.
Cobalt has not been a significant contributor in the past as all the laterite production in Albania was processed for nickel and iron. Historically, prior to Albania
building its own smelter in 1976 in Elbasan, the laterite ore was shipped to China and
Czechoslovakia. The Company has 4 months to conduct due diligence study which will include among others a study to determine if
mining operations can be re-started within 6 to 12 months. Historical resource estimates are not mineral reserves and do not have
demonstrated economic viability…
Note: The tonnage and grade estimates stated above are historic in nature and were obtained from the records at the Albanian
Geological Survey. The estimate done, using Russian Style Polygon method, are roughly equivalent to the National Instrument
43-101 inferred category. No qualified person has done sufficient work to classify the historical estimates as current mineral
resources. EVX considers the historical estimates relevant in guiding exploration efforts and planning although EVX is not
treating the historical estimates as current mineral resources. EVX will need to undertake a comprehensive review of available
data, including further drilling, to verify the historic estimates and classify them as current resources.
Jose Mario Castelo Branco, EuroGeol, a Qualified Person under the meaning of Canadian National
Instrument 43-101 and Chief Geologist of the Company is responsible for the technical content of this news release.
About European Electric Metals Inc. - European Electric Metals Inc. is a Canadian listed public company, with a focus on
electrification themed projects in Europe. A major shareholder of EVX is the European Bank for
Reconstruction and Development. The goal of EVX is to become a major source of battery metals such as copper, nickel and cobalt,
and the Company seeks to do so within safe, stable and logistically attractive European jurisdictions. The Company's projects are
ideally located with excellent road, port and grid power availability, and near European countries that are poised to experience
dramatic growth in the electric-vehicle-manufacturing industry. There is a strong battery-manufacturing industry within
Europe with many more projects in the pipeline."
EMX Royalty Corporation (NYSE: EMX) leverages asset ownership and exploration insight into partnerships that advance
its mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX Royalty Corporation
recently announced its acquisition of 2,020,202 common shares of Boreal Energy Metals Corp., representing an additional 4% equity
stake in BEMC, and bringing EMX's aggregate interest to 9.9% of BEMC's issued and outstanding shares. EMX acquired the additional
shares pursuant to the sale of the Njuggträskliden and Mjövattnet nickel-copper-cobalt projects in Sweden. The shares were issued to EMX at a deemed price of CDN 0.05 per share.
BEMC is a recently formed private company focused on battery metal assets in Scandinavia and is a subsidiary of Boreal Metals
Corporation. In addition to EMX's direct ownership in BEMC, which includes an initial 5.9% share equity position resulting from
the sale of the Guldgruvan cobalt project, EMX also has an indirect ownership interest via its 17.9% interest in Boreal, which
owns the remaining 90.1% of BEMC. These interests provide EMX and its shareholders immediate exposure to equity upside, while the
royalty interests provide longer term exposure to mineral production revenues and the optionality of continued exploration
success and discovery.
Avino Silver & Gold Mines Ltd. (NYSE: ASM) is a silver and gold producer with a
diversified pipeline of gold, silver and base metals properties in Mexico and Canada employing approximately 600 people. Avino Silver & Gold Mines Ltd.
announced an update on its recently announced 2018 - 2019 strategic exploration objectives for the Bralorne Gold Mine, located
near Gold Bridge, British Columbia. In June 2018, a team of expert
structural geoscientists completed a one month study that evaluated existing data along with an in-depth site analysis. The
objective of the study was to create an updated, detailed surface geological map, a complete 3D geological model, and structural
model identifying veining along with target recommendations. Existing geophysical data on the Bralorne property is historic and
dated and was compiled using methods and technology that has limited current use. As an aid to the structural and geological
modeling, as well as greatly assisting with targeting, current state-of-the-art geophysical surveys are on-going and have largely
been completed. With an interest in co-product elements such as cobalt, a small-scale program is planned as a first pass
assessment of the potential for Cobalt-Gold mineralization, similar to The Little Gem Cobalt project which is owned by Blackstone
Minerals, and which occurs 9 km northwest of the Bralorne property.
NRG Metals Inc. (OTCQB: NRGMF) is an exploration stage company focused on the advancement of lithium brine projects in
Argentina. NRG Metals Inc. recently provided additional information regarding the maiden lithium
(Li) and potassium (K) resource statement for its Hombre Muerto North lithium brine project in the Salta province of Argentina. The average grade of lithium for the 571,000 tonne combined Measured and Indicated resource
(509,000 measured and 62,000 indicated) is 756 mg/liter lithium, with a low lithium to magnesium ratio of 2.6 to 1. Adrian Hobkirk, President and Chief Executive Officer of NRG, commented, "the grades we are seeing at the
Hombre Muerto Project are some of the highest reported grades for any of the lithium bearing brine deposits in Argentina. The combination of high grades, excellent chemistry and good pumping rates are very positive
indicators that we hope will allow us to advance the project through feasibility studies to production should the economic
viability and technical feasibility of the project be established."
Nemaska Lithium, Inc. (OTCQX: NMKEF) is a developing chemical company whose activities will be vertically integrated,
from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. Nemaska Lithium Inc. and
Northvolt AB recently announced the signature of an agreement providing for the supply of battery grade lithium hydroxide by the
Corporation to Northvolt. On April 27th, 2018 Nemaska Lithium announced an agreement in principle
with Northvolt. This agreement is now superseded by a definitive 5-year supply agreement. Under this agreement, Nemaska Lithium
agrees to supply, through its wholly-owned subsidiary Nemaska Lithium Shawinigan Transformation Inc., and Northvolt agrees to
purchase, on a take-or-pay basis, up to 5,000 but not less than 3,500 metric tonnes per year of lithium hydroxide produced at the
Corporation's commercial plant in Shawinigan, for a 5-year supply period commencing upon the
start of commercial production at both the Shawinigan Plant and Northvolt's projected Skellefteå factory in Sweden (the "N Factory").
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News,
Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company
Interviews. A pioneer in the financially driven digital space, video production and integration of social media,
FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination,
branding, marketing and advertising for third parties for corporate news and original content through our unique media platform
that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial
Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not
undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided
[exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into
media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials
for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the
information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting
high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com
does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along
with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our
unique financial newswire and media platform. For european electric metals inc. financial and corporate news dissemination,
FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either
a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof.
The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near
the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for
financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or
continue to post information about any companies the information contained herein is not intended to be used as the basis for
investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is
not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for
any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other
materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of
their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance,
and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound
by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com
constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment
strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is
solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives,
other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and
legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless
of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be
reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please
visit: http://www.financialbuzz.com .
For further information:
info@financialbuzz.com
+1-877-601-1879
Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com