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NEW YORK, NY / ACCESSWIRE / July 13, 2017 / According to a research report by Markets and Markets, the Lithium-Ion Battery market is expected to be valued at USD 68.97 Billion by 2022 and growing at a CAGR of 16.6% between 2016 to 2022. The report also indicates that the consumer electronics industry is expected to dominate the market during the forecast period, while the market for the automotive industry is expected to grow at the highest rate. The implementation of rechargeable lithium ion batteries in electric vehicles for plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV) will improve efficiency and reduce maintenance cost of these vehicles. Lithium X Energy Corp. (TSX-V: LIX), Lithium Americas Corp. (TSX-V: LAC), Nemaska Lithium Inc. (TSX: NMX), Critical Elements Corp. (TSX-V: CRE).
As for the consumer electronics sector, popular products such as smartphones, tablets, laptops, digital cameras and many others are highly dependent on portable power sources. Lithium ion batteries are a preferred portable power source due to the high energy density and quicker recharge time. The consumption of consumer electronics is expected to accelerate thanks to emerging markets, which will further affect the lithium industry. The report points out that it is the Asia-Pacific region, which held the largest share of the overall lithium ion battery market, is expected to grow at the highest rate during the forecast period.
Liberty One Lithium Corp. is listed on the TSX Venture Exchange under the ticker symbol LBY. Today the company announced, "plans for a geophysical survey at its 15,857 hectare (39,183 acre) joint venture interest in the Pocitos West Project located on the Pocitos Salar in Salta Province, Argentina.
Liberty One Lithium, through its operating partner Millennial Lithium Corp. has contracted Salta based Tecnología y Recursos ("TyR") to conduct a geophysical survey at Pocitos West. TyR will conduct a Vertical Electrical Soundings ("VES") survey which detects variations in subsurface conductivity. The VES survey can identify differences between dry sediments, sediments with fresh or low-salinity water, massive halite (rock salt), and basement rocks. TyR will take measurements at 11 stations along the 29 kilometer north-south extent of the tenements, reporting results based on modeling the on-the-ground results with the conductivity parameters of the local rock types and similar rock types bearing fresh water and brines.
The 60-kilometre-long Pocitos salar basin was previously drill tested with 12 shallow holes in 1979 by an Argentine government agency, the Direccion General de Fabricaciones Militares. The most significant result from the historical work program includes a shallow drill hole, which averaged 417 parts per million lithium and 15,300 parts per million potassium. The results of these holes and the sampling conducted are historical in nature and cannot be confirmed by the company under National Instrument 43-101 standards of exploration applicable today.
Geologically, salars are topographically depressed and surrounded by hills and mountains. The salar basins are filled with surface runoff and subsurface flow from the surrounding high terrain. The sediments are the product of erosion of the mountain around the salars, which tend to mask the actual size of the salt flats as shown at surface. Most of the advanced-stage projects in Argentina are extending their resource below the alluvial fans. At the Pocitos West Project area, previous geophysics profiles indicate that the body of brine extends toward the west beneath the alluvial fans on trend with the Liberty One property at depths of up 500 feet or more.
Morgan Tincher, Liberty One Lithium's CFO notes, "We are pleased to have the ability to quickly move forward in determining the extent of the mineral assets at Pocitos West. Our JV partners at Millennial have extensive exploration experience in the area and we are very much on the same page with their proposed workplan and executable timeline. We enjoy the same enthusiastic outlook for the opportunities this region represents, as Lithium continues to show great promise for the foreseeable future. As mentioned previously, our intent is to move ahead with our initial NI 43-101 report and to continue to focus our efforts on building shareholder value. Iain Scarr, AIPG, CPG, an arm's length party to the Company, is the Qualified Person responsible for the technical disclosure in this news release, in accordance with National Instrument 43-101.
Lithium Americas Corp. (LAC.TO) (OTCQX:LACDF), is developing the Cauchari-Olaroz lithium project, located in Jujuy, Argentina, through its 50% interest in Minera Exar. The company recently provided an update on the Cauchari-Olaroz lithium project in the Province of Jujuy, Argentina. Cauchari-Olaroz is 100%-owned by Minera Exar S.A., a 50/50 joint venture company between Lithium Americas and Sociedad Quimica y Minera de Chile S.A. On Thursday, June 29, 2017, senior executives from Minera Exar, Lithium Americas and SQM attended a meeting in Buenos Aires with government officials from Argentina, including the President of Argentina, Mauricio Macri, and the Governor of the Province of Jujuy, Gerardo Morales. All parties reaffirmed their commitment to support the development of Cauchari-Olaroz.
Nemaska Lithium Inc. (NMX.TO) (OTCQX:NMKEF) intends to become a lithium hydroxide supplier and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles. The Company is located in the mining friendly jurisdiction of Quebec, Canada. Nemaska Lithium has received a notice of allowance of a main patent application on its proprietary process to produce lithium hydroxide and lithium carbonate. In tandem, the Company is developing one of the richest spodumene hard rock lithium deposits in the world, both in volume and grade. On June 26th, 2017, Nemaska Lithium announced the completion of a public offering for aggregate gross proceeds of $50,001,000.
Critical Elements Corp. (CRE.V) (OTCQX:CRECF) is a mining exploration company owning several mining properties in Quebec. The Company is focused on the rare earths, particularly lithium. It has achieved its objective with the Rose lithium-tantalum project, which is currently at the advanced exploration stage. Based on the work programs developed and positive results, Critical Elements Corporation is aiming to put the Rose lithium-tantalum project into production rapidly. The Company flagship project is well located in Quebec with on-site access to infrastructures like: powerline, road, airport, railway access and camp. On June 27th, 2017, the company announced that it has closed $3 million, representing the second and third drawdowns on the credit facility entered into with HELM AG on June 28, 2016.
Lithium X Energy Corp. (LIX.V) (OTCQX:LACDF) is a lithium exploration and development company with a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. The company recently announced that further to its news release of June 29th, 2017, the Company has closed the definitive agreement with Aberdeen International Inc. ("Aberdeen") for the purchase of Aberdeen's remaining 50% interest in Potasio y Litio de Argentina S.A. ("PLASA") which controls 100% of the Sal de los Angeles Project (the "Acquisition"). The project consists of 8,154 hectares covering 95% of Salar de Diablillos, and has an NI 43-101 mineral resource estimate of 1.037 million tonnes of lithium carbonate equivalent in the indicated category and 1.007 million tonnes of lithium carbonate equivalent in the inferred category.
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