October 2, 2018 - 8:30 AM EDT
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Lithium Remains in Record High Demand Based on Booming EV Revolution

Palm Beach, FL – (October 2, 2018) – The lithium industry remains highly competitive as global supplies are challenged, leading industry leaders to seek competitive advantages as it relates to mining and production levels. Additionally, the long-term outlook for lithium has been adjusted to be viewed in a positive light according to analysts due to various economic and political forces around the globe. According to Roskill, demand for the metal is projected to double over the next decade. Tesla, Volkswagen and other electric-vehicle manufacturers are gobbling up lithium for its use in lithium-ion batteries that power electric cars.  With the rise of electric vehicles and other lithium-powered devices, growth in the lithium market is not anticipated to slow anytime soon.  Active stocks in the markets this week include NRG Metals Inc. (TSX-V:NGZ) (OTC:NRGMF). Lithium Americas Corp. (TSX:LAC) (NYSE:LAC), Orocobre Ltd. (TSX:ORL) (OTC:OROCF), Advantage Lithium Corp. (TSX-V:AAL) (OTC:AVLIF), FMC Corporation (NYSE:FMC).

NRG Metals Inc. (TSX-V:NGZ.V) (OTCQB:NRGMF) BREAKING NEWS:  NRG Metals is pleased to report a maiden lithium (“Li”) and potassium (“K”) resource statement for its Hombre Muerto Norte lithium brine project in the Salta province of Argentina.  The NI 43-101 resource statement, detailed in Table 1 below, includes 509,000 tonnes (metric tons) of lithium carbonate (“Li2CO3”) equivalent (“LCE”) and 1,609,000 tonnes of potash (“KCl”) equivalent in the Measured and Indicated Resource categories, with an additional 62,000 tonnes of LCE and 231,000 tonnes KCl in the Indicated Resource category.

Adrian Hobkirk, President and CEO of NRG, commented, “We are very excited to see a robust and high-grade 43-101 resource estimate from our hydrogeological consultants.  “The Company now has a high-quality defined resource estimate with positive chemical characteristics that will hopefully allow us to advance the project through feasibility studies to production should the economic viability and technical feasibility of the project be established.”

Table 1. Hombre Muerto North Lithium Brine Resource Statement

Resource
Category
Li (tonnes)     Li2CO3
Equivalent
 (tonnes)
K
(tonnes)
      KCl Equivalent    (tonnes)
Measured   96,000  509,000 844,000  1,609,000
Indicated   12,000    62,000 121,000     231,000
M+I 108,000  571,000 965,000  1,840,000

Tonnages are rounded off to the nearest 1,000.  Cutoff grade: 500 mg/L lithium, but no laboratory results were less than the cutoff grade.

The conversion used to calculate the equivalents from their metal ions is based on the molar weight for the elements added to generate the equivalent.  The equations are Li x 5.3228 = lithium carbonate equivalent and K x 1.907 = potassium chloride equivalent.

The reader is cautioned that mineral resources are not mineral reserves and do not have demonstrated economic viability.

The resource estimate was prepared in accordance with the requirements of National Instrument 43-101 and uses best practice methods specific to brine resources, including a reliance on core drilling and sampling methods that yield depth-specific chemistry and effective (drainable) porosity measurements. The resource estimation was completed by independent qualified person Mr. Michael Rosko, M.Sc., C.P.G. of the international hydrogeology firm E.L. Montgomery & Associates (M&A).

The resource is defined over a 3.9 square kilometer footprint using results from core drilling and depth-specific packer sampling. In addition, the brine was also sampled during short-term pumping tests. The new Measured and Indicated Resource was derived from two polygons surrounding core holes drilled to depths of 401 and 281 meters (m).  Large-diameter rotary holes were drilled to adjacent to both core holes, each to a depth of about 400 m. The spacing between the two pairs of core/rotary holes is approximately 2.1 kilometers.

The chemistry of the Hombre Muerto North brine is judged to be very favorable. Brine density and the ratios of magnesium and sulfate to lithium for the combined measured and indicated resource are given below:

  • Density of the brine from depth-specific samples at the core holes ranged from 1.19 to 1.23 grams per cubic centimeter (g/cm3)
  • Average Magnesium/Lithium ratio is 2.6 to 1
  • Average Sulfate/Lithium ratio is 11.7 to 1

Based on the geologic model, approximately 33% of the resource is hosted by sand and silty sand units, 28% by interbedded halite, sand and silty sand and 39% sandy conglomerate.

The total contained lithium and potassium values are based on measurements of effective (drainable) porosity distributed throughout the aquifer volume that defines this resource. This method of porosity determination is designed to estimate the portion of the total porosity that can theoretically be drained by pumping; however, these estimates may differ from total extractable quantities. The drainable porosity is different for each hydrogeologic unit, but the average ranges from about 8 to 11% based on laboratory results.     Read this and more news for NRG Metals at:  http://www.financialnewsmedia.com/news-ngz/

Other recent developments in the mining industry include:

Martin Perez de Solay has been appointed as Orocobre Ltd.’s (TSX:ORL.TO) (OTCPK:OROCF) new chief executive officer and managing director after an extensive global search by recruitment specialist Egon Zehnder. Mr. Perez de Solay will commence in these roles following the upcoming annual general meeting and a transition period with the current managing director and chief executive officer.  Orocobre chairman Robert Hubbard stated he was absolutely delighted with the appointment of Mr. Perez de Solay to the role: “Martin is a highly accomplished chief executive with the ideal blend of skills, experience and knowledge to lead Orocobre though the next stages of its development.  “Martin’s initial focus will be on the established strategy of optimizing the operating performance of the Olaroz joint venture and delivering the company’s growth plans for the Olaroz stage 2 expansion and lithium hydroxide plant in Japan. Martin will be based in Argentina utilizing his extensive operational expertise and in-country knowledge for the maximum benefit of Orocobre shareholders,” Mr. Hubbard commented.

Advantage Lithium Corp. (TSX-V:AAL.V) (OTCQX:AVLIF) has provided this update on the brine sampling of diamond core holes CAU20 and CAU21 in the Northwest sector of the Cauchari joint venture property located in the Jujuy province, Argentina.  The exploration program is being managed by joint venture partner Advantage Lithium, which holds 75 per cent of Cauchari. Orocobre Ltd. owns 33.5 per cent of Advantage Lithium’s issued capital and 25 per cent directly in the joint venture.  President and chief executive officer David Sidoo commented: “These excellent results from our phase 3 systematic sampling program confirm the high quality of the NW sector brine with low Mg/Li and SO4/Li ratios and excellent aquifer extraction characteristics. Drilling continues to expand the area and depth of the brine, as our Cauchari project continues to develop as the next substantial lithium resource in the Cauchari-Olaroz basin beside LAC/Ganfeng and Orocobre. Drilling is ongoing in the NW and SE sectors as part of the program to upgrade the resource to measured and indicated status, with four drilling rigs on site.”

Lithium Americas Corp (NYSE:LAC) (TSX:LAC) last announced its quarterly earnings results on Tuesday, August 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Lithium Americas had a negative net margin of 860.20% and a negative return on equity of 28.03%. The firm had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $1.30 million. sell-side analysts predict that Lithium Americas Corp will post -0.28 EPS for the current year.  Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and the Lithium Nevada Project covering approximately 15,233 hectares of area located in northwestern Nevada.

FMC Corporation (NYSE:FMC) will release its third quarter 2018 earnings on Monday, November 5, 2018, after the stock market close via PR Newswire and the company’s website at: http://www.fmc.com.  Livent Corporation also expects to announce its third quarter 2018 carve-out results at the same time.  If, as expected, the Livent IPO has been completed prior to November 5, 2018, Livent will announce its results in a separate press release, via PR Newswire and the company’s website at http://www.livent.com. —  FMC will host a webcast conference call on Tuesday, November 6, 2018, at 9:00 a.m. ET.  —  If the Livent IPO has been completed prior to November 5, 2018, Livent expects to host a separate webcast conference call on Tuesday, November 6, 2018, at 8:00 a.m. ET. —  Both calls will be open to the public via Internet broadcast and telephone.  For call in details please go here

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Source: Financial News Media (October 2, 2018 - 8:30 AM EDT)

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