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LICO ENERGY METALS INC. (OTCQB: WCTXF) (TSX-V: LIC)
Breaking News
|
DDH |
From (m) |
To (m) |
Core length (m) |
Co (%) |
Ag (ppm) |
Cu (ppm) |
Zn (ppm) |
Pb (ppm) |
TE17-01 |
136.00 |
142.00 |
6.00 |
0.62 |
0.9 |
51 |
37 |
4 |
Incl. |
136.50 |
137.00 |
0.50 |
0.23 |
0.9 |
6 |
47 |
2 |
Incl. |
139.75 |
142.00 |
2.25 |
1.54 |
1.8 |
121 |
40 |
8 |
Incl. |
140.25 |
141.00 |
0.75 |
3.92 |
2.4 |
216 |
39 |
13 |
TE17-02 |
142.5 |
144.9 |
2.4 |
0.76 |
1.6 |
202 |
35 |
10 |
Incl. |
143 |
144.9 |
1.9 |
0.95 |
1.8 |
234 |
36 |
10 |
Incl. |
144.3 |
144.9 |
0.6 |
2.58 |
1.5 |
140 |
39 |
12 |
TE17-02 |
152 |
161 |
9 |
0.34 |
1.1 |
203 |
262 |
29 |
Incl. |
152 |
154.2 |
2.2 |
0.26 |
1 |
101 |
239 |
38 |
Incl. |
156 |
159.9 |
3.9 |
0.59 |
1.6 |
377 |
445 |
41 |
Incl. |
156 |
157.8 |
1.8 |
0.90 |
2.3 |
228 |
924 |
79 |
Incl. |
156.6 |
157.2 |
0.6 |
2.22 |
5.4 |
590 |
2705 |
226 |
TE17-03 |
128.5 |
129.5 |
1 |
0.11 |
3.1 |
183 |
28 |
26 |
TE17-03 |
152.4 |
155.7 |
3.3 |
0.09 |
1.2 |
13 |
22 |
5 |
TE17-03 |
155.1 |
155.7 |
0.6 |
0.22 |
1.7 |
23 |
14 |
8 |
TE17-04 |
138.00 |
144.00 |
6.00 |
1.82 |
4.7 |
742 |
49 |
20 |
Note: Intervals reported in Table 1 represent core lengths and not true widths.
Table 2: Drill hole Collar Information
DDH |
Azm |
Dip |
TE17-01 |
090 |
-49 |
TE17-02 |
090 |
-45 |
TE17-03 |
090 |
-45 |
TE17-04 |
090 |
-45 |
TE17-05 |
090 |
-45 |
TE17-06 |
090 |
-45 |
TE17-07 |
090 |
-50 |
QA/QC Program
LiCo Energy Metals Inc. has implemented a quality assurance/quality control
(QA/QC) program for both the Glencore Bucke and Teledyne Property drill
programs.
Diamond drill core was logged, then sawed in half, with one half placed in a
labelled bag, and the remaining half placed back into the core box and stored in
a secured compound. Either a standard or a blank was inserted every 20th sample.
All samples were shipped to Activation Laboratories in Ancaster, Ontario. Each
sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. A
0.25g sample is digested with a near total digestion (4 acids) and then analyzed
using an ICP. QC for the digestion is 14% for each batch, 5 method reagent
blanks, 10 in-house controls, 10 samples duplicates, and 8 certified reference
materials. An additional 13% QC is performed as part of the instrumental
analysis to ensure quality in the areas of instrumental drift. If over limits
for Cu, Pb, Zn, and Co are encountered, a sodium peroxide fusion, acid
dissolution followed by ICP‐OES is completed. For Ag over limits, a four acid
digestion is completed followed by ICP‐OES.
Qualified Person
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.
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 purchased 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 (Cobalt, Ontario):
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 the
Teledyne property. The Company completed a total of 11 diamond drill holes
totaling 2,200 m in the fall of 2017. The drilling has confirmed cobalt
mineralization present on the Property which is consistent with historical
grades as reported historically by Cunningham-Dunlop (1979) and Bressee (1981),
disclosed in earlier news releases. These reports are available in the public
domain through MNDM’s AFRI database.
NI 43-101 Reports for both the Teledyne and Glencore Bucke Properties, are
publicly available on www.SEDAR.com as well as the Company’s website. LiCo’s
recently completed diamond drilling program (September to December 2017)
consisted of both twinning and infill drilling of the historical drill holes
located on both the Teledyne Cobalt and Glencore Bucke Properties.
Purickuta Lithium Project (Chile):
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 and Chile itself holds 53% of
the world’s known lithium reserves (Source: Bloomberg Markets – June 23, 2017,
“Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says”). The property is
160 hectares large and is enveloped by a concession owned by Sociedad Quimica y
Minera (“SQM”) and lies within a few kilometers of a property owned by CORFO
(the Chilean Economic Development Agency) where its leases land to both SQM and
Albermarle’s Rockwood Lithium Corp. (“Albermarle”) for lithium extraction.
Together these two companies, SQM and Albermarle, have a combined annual
production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) making up
100% of Chile’s current lithium
output. As reported in The Economist (June 15, 2017 – A battle for supremacy in
the lithium triangle), the Salar de Atacama has the largest and highest quality
proven reserves of lithium. The combination of the desert’s hot sun, scarce
rainfall, and the mineral-rich brines make Chile’s production costs the world’s
lowest. This together with a favourable investment climate, low levels of
corruption, and the quality of its bureaucracy and courts makes Chile a
favourable place to conduct business.
Dixie Valley Lithium Project (Nevada, USA):
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. Some important geological similarities exist between various lithium
brines, notably geothermal activity, a dry climate, a closed basin, an aquifer,
and tectonically driven subsistence exist at Dixie Valley along with Clayton
Valley and various lithium bearing salars in Chile, Argentina and Bolivia.
Black Rock Desert Lithium Project (Nevada, USA):
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 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.
Contact:
Phone: +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc
LiCo Energy Metals - Intersects 0.77 % Cobalt over 3.40 m and 1.50% over 0.40 m at the Teledyne Cobalt Property
Vancouver, British Columbia --March 7, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to report assay results for
drill holes TE17-06 through to TE17-11 completed on the Teledyne Cobalt
Property, located 6 km northeast of Cobalt, Ontario. The current drill program
was designed to confirm and extend the existing known mineralization along
strike and up and down dip.
“LiCo is pleased to report the final assay results for the Phase 1 diamond drill
program completed at the Teledyne Cobalt Property. Drill hole TE17-08
intersected multiple zones of cobalt mineralization over a core interval of just
over 19 m” says
Tim Fernback, President & CEO of LiCo.
A summary of the most significant results of the recent drill core assays are:
• TE17-07 0.50% Co over 2.10 m from 127.60 to 129.70 m, including 1.50% over
0.40 cm from
128.20 to 128.60 m.
• TE17-08 0.77% Co over 3.40 m from 169.50 to 172.90 m, including 1.17% Co over
2.00 m from
169.50 to 171.50 m.
• TE17-08 0.59% Co over 1.20 m from 174.00 to 175.20 m.
• TE17-08 0.62% Co over 0.60 m from 178.60 to 179.20 m.
• TE17-11 0.54% Co over 2.00 m from 130.00 to 132.00 m, including 1.07% Co over
0.50 m from
130.00 to 130.50 m.
On the Teledyne Cobalt Property, the Company completed a total of 11 diamond
drill holes totaling 2,200 m in the fall of 2017.
The results and drill hole collar information for diamond drill holes TE17-06 to
TE17-11 are summarized in Tables 1 & 2 below.
Table 1: Summary of Diamond Drill Results
DDH |
From (m) |
To (m) |
Core Length (m) |
Co (%) |
Ag (ppm) |
Cu (ppm) |
Zn (ppm) |
Pb (ppm) |
TE17-06 |
164.00 |
165.00 |
1.00 |
0.14 |
0.7 |
4 |
33 |
6 |
TE17-07 |
127.60 |
129.70 |
2.10 |
0.50 |
2.3 |
130 |
157 |
32 |
incl. |
128.20 |
128.60 |
0.40 |
1.50 |
6.6 |
206 |
84 |
46 |
TE17-08 |
160.00 |
160.50 |
0.50 |
0.25 |
7.7 |
516 |
27 |
402 |
TE17-08 |
165.50 |
166.50 |
1.00 |
0.23 |
4.7 |
59 |
31 |
652 |
TE17-08 |
169.50 |
172.90 |
3.40 |
0.77 |
7.6 |
252 |
68 |
1370 |
incl. |
169.50 |
171.50 |
2.00 |
1.17 |
8.3 |
62 |
41 |
1758 |
incl. |
171.00 |
171.50 |
0.50 |
2.09 |
23.5 |
228 |
46 |
5400 |
TE17-08 |
174.00 |
175.20 |
1.20 |
0.59 |
21 |
338 |
43 |
2191 |
incl. |
174.30 |
175.20 |
0.90 |
0.71 |
24.4 |
437 |
43 |
2548 |
TE17-08 |
178.60 |
179.20 |
0.60 |
0.62 |
20.8 |
101 |
72 |
991 |
TE17-09 |
145.50 |
147.50 |
2.00 |
0.09 |
0.4 |
13 |
16 |
5 |
incl. |
146.40 |
146.65 |
0.25 |
0.20 |
0.4 |
5 |
15 |
2 |
TE17-10 |
124.55 |
128.00 |
3.45 |
0.11 |
0.5 |
10 |
24 |
4 |
incl. |
124.55 |
125.50 |
0.95 |
0.19 |
0.7 |
9 |
25 |
5 |
TE17-11 |
130.00 |
132.00 |
2.00 |
0.54 |
1.1 |
13 |
36 |
8 |
incl. |
130.00 |
130.50 |
0.50 |
1.07 |
0.7 |
14 |
29 |
3 |
Note: Intervals reported in Table 1 represent core lengths and not true widths
Table 2: Drill hole Collar Information
DDH |
Azm |
Dip |
TE17-06 |
090 |
-45 |
TE17-07 |
090 |
-50 |
TE17-08 |
090 |
-49 |
TE17-09 |
090 |
-45 |
TE17-10 |
090 |
-45 |
TE17-11 |
090 |
-54 |
QA/QC Program
LiCo Energy Metals Inc. has implemented a quality assurance/quality control (QA/QC) program for Teledyne Cobalt Property Phase 1 diamond drilling program.
Diamond drill
core was logged, then sawed in half, with one half placed in a labelled bag, and
the remaining half placed back into the core box and stored in a secured
compound. Either a standard or a blank was inserted every 20th sample. All
samples were shipped to Activation Laboratories in Ancaster, Ontario. Each
sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. A
0.25g sample is digested with a near total digestion (4 acids) and then analyzed
using an ICP. QC for the digestion is 14% for each batch, 5 method reagent
blanks, 10 in-house controls, 10 samples duplicates, and 8 certified reference
materials. An additional 13% QC is performed as part of the instrumental
analysis to ensure quality in the areas of instrumental drift. If over limits
for Cu, Pb, Zn, and Co are encountered, a sodium peroxide fusion, acid
dissolution followed by ICP-OES is completed. For Ag over limits, a four-acid
digestion is completed followed by ICP-OES.
Qualified Person
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.
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 purchased 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 (Cobalt, Ontario):
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 the
Teledyne property. The Company completed a total of 11 diamond drill holes
totaling 2,200 m in the fall of 2017. The drilling has confirmed cobalt
mineralization present on the Property which is consistent with historical
grades as reported historically by Cunningham-Dunlop (1979) and Bressee (1981),
disclosed in earlier news releases. These reports are available in the public
domain through MNDM’s AFRI database.
NI 43-101 Reports for both the Teledyne and Glencore Bucke Properties, are
publicly available on www.SEDAR.com as well as the Company’s website. LiCo’s
recently completed diamond drilling program (September to December 2017)
consisted of both twinning and infill drilling of the historical drill holes
located on both the Teledyne Cobalt and Glencore Bucke Properties.
Purickuta Lithium Project (Chile):
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 and Chile itself holds 53% of
the world’s known lithium reserves (Source: Bloomberg Markets – June 23, 2017,
“Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says”). The property is
160 hectares large and is enveloped by a concession owned by Sociedad Quimica y
Minera (“SQM”) and lies within a few kilometers of a property owned by CORFO
(the Chilean Economic Development Agency) where its leases land to both SQM and
Albermarle’s Rockwood Lithium Corp. (“Albermarle”) for lithium extraction.
Together these two companies, SQM and Albermarle, have a combined annual
production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) making up
100% of Chile’s current lithium output. As reported in The Economist (June 15,
2017 – A battle for supremacy in the lithium triangle), the Salar de Atacama has
the largest and highest quality proven reserves of lithium. The combination of
the desert’s hot sun, scarce rainfall, and the mineral-rich brines make Chile’s
production costs the world’s lowest. This together with a favourable investment
climate, low levels of corruption, and the quality of its bureaucracy and courts
makes Chile a favourable place to conduct business.
Dixie Valley Lithium Project (Nevada, USA):
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. Some important geological similarities exist between various lithium
brines, notably geothermal activity, a dry climate, a closed basin, an aquifer,
and tectonically driven subsistence exist at Dixie Valley along with Clayton
Valley and various lithium bearing salars in Chile, Argentina and Bolivia.
Black Rock Desert Lithium Project (Nevada, USA):
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 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.
Contact:
Phone: +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Completes its Final Payment to Glencore Canada Corporation and Finalizes the Purchase of 100% for the Mineral Rights on the Glencore Bucke Property
Vancouver, British Columbia --March 5, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to announce that it has
formally completed its obligations to Glencore Canada Corporation under the
Mineral Property Acquisition Agreement ("Property Agreement") dated August 31st
2017 and announced on September 5, 2017 by the Company. The Mineral Rights were
owned originally by Glencore ppCanada Corporation (subsidiary of Glencore plc)
("Glencore") of Baar Switzerland (LSE: GLEN). The Property Agreement allows LiCo
to acquire a 100% interest in mining rights for patent #585 (the "Glencore Bucke
property") situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario.
The Purchase Agreement includes a back-in provision, production royalty and an
off-take agreement in favor of Glencore.
Glencore is one of the world's largest producers of cobalt as a result of
by-products created from its copper assets in the DRC and nickel assets in
Australia, Canada and Norway.
"We are very excited to formally acquire this strategically located cobalt
property from Glencore. Its purchase agreement allows LiCo to expand upon one of
Glencore's longstanding Canadian cobalt assets. If all goes as planned, we could
be selling all our cobalt produced back to Glencore in the future. As I have
mentioned before, not only is this a great cobalt asset, but we have also found
a significant future customer in Glencore," states Tim Fernback, LiCo's
President & CEO.
Strategically, the Glencore Bucke property consists of 16.2 hectares and sits
along the west boundary of LiCo's Teledyne Cobalt Project that covers the
southern extension of the former producing 15 Vein on the past-producing
Agaunico Mine Property. Historically, the Agaunico Mine produced 4,350,000 lbs.
of cobalt and 980,000 oz. of silver during the mining boom of the early 1900's
(Cunningham-Dunlop, 1979).
In the early 80's the Glencore Bucke property was explored by 36 surface diamond
drill holes totaling 3,323 m. The drilling program outlined two separate vein
systems hosting significant cobalt and silver values. The two zones are known as
the Main Zone, measuring 152.4 m in length, and the Northwest Zone, measuring
70.0 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 lease #585 (Bresee, 1982). Additional work was
recommended but never completed due to a downturn in cobalt prices at the time.
LiCo has recently completed the Glencore Bucke Property Phase 1 diamond drilling
program. During the fall of 2017, LiCo completed 21 diamond drill holes totaling
1,900 m. A summary of the results of the Glencore Bucke Property Phase 1 diamond
drilling program can be found in LiCo's news release dated January 26, 2018.
On LiCo's adjacent Teledyne property, historical drilling also encountered two
zones of cobalt/silver mineralization extending from the boundary of mined zones
at the Agaunico Mine in a north-south direction. In 1980, Teledyne completed a
700 m long production decline to reach the mineralization encountered in their
surface drill program. Both the surface and underground drilling programs
confirmed the extension of the Agaunico cobalt zones onto the Teledyne property
for a strike length of 152.4 m. In addition, the drill program encountered a
second zone with a strike length of 137.2 m. The most significant results
included 0.644% Co over 16.9 m, 0.74% Co over 8.7m, and 2.59% Co over 2.4 m (Bresee,
1981). LiCo has recently completed a Phase 1 diamond drilling program on the
Teledyne Property in the fall of 2017, whereby LiCo completed 11 diamond drill
holes totaling 2,200 m.
Terms of the Acquisition
Purchase Price - The Purchaser shall pay to the Vendor the sum of $150,000 on
the Approval Date; and pay to the Vendor the sum of $350,000 within 6 months
after the date of the Agreement (the "Closing Date"). In addition, prior to the
Closing Date during the Acquisition Period, the Purchaser shall incur $250,000
in Exploration Expenditures on the Property.
Offtake Agreement - Prior to the commencement of Commercial Production, the
Purchaser shall enter into an off-take agreement with the Vendor for all ores
and/or concentrates produced from the Property and/or the Teledyne Property. The
off-take agreement shall be on such terms and conditions as are commercially
reasonable and at prevailing market prices;
Production Royalty - The Royalty will consist of a 3.5% of Net Smelter Return
calculated on a quarterly basis on all Products extracted from, processed and
sold that originate from mining operations on the Property from and after
Commercial Production. One-half (1/2) of the Royalty can be purchased for
$1,000,000 payable to the Vendor or its assignee;
Back-In Option - from and after the Closing Date, subject to Glencore or an
affiliate, determining that a discovery of one or more ore bodies having a
minimum aggregate in-situ value of $100M or more from which minerals can be
feasibly extracted, the Purchaser grants to the Vendor or its nominated
affiliate an irrevocable, sole and exclusive right and option to acquire from
the Purchaser a 51% interest in the Property and all Property Rights, free and
clear of all burdens of any nature or kind. Once the Back-in Option is exercised
a joint venture will be formed and a management committee established with
representatives of both companies.
About Glencore:
Glencore plc is a leading integrated commodity producer and trader, operating
worldwide with diversified operations comprising around 150 mining and
metallurgical, oil production and agricultural assets. Glencore's industrial and
marketing activities are supported by a global network of more than 90 offices
located in over 50 countries where they employ around 155,000 people, including
contractors. Glencore trades in and distribute physical commodities sourced from
third party producers as well as their own production. The company also provide
financing, processing, storage, logistics and other services to commodity
producers and consumers.
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 purchased 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 (Cobalt, Ontario):
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 the
Teledyne property. The Company completed a total of 11 diamond drill holes
totaling 2,200 m in the fall of 2017. The drilling has confirmed cobalt
mineralization present on the Property which is consistent with historical
grades as reported historically by Cunningham-Dunlop (1979) and Bressee (1981),
disclosed in earlier news releases. These reports are available in the public
domain through MNDM's AFRI database.
NI 43-101 Reports for both the Teledyne and Glencore Bucke Properties, are
publicly available on http://www.SEDAR.com as well as the Company's website.
LiCo's recently completed diamond drilling program (September to December 2017)
consisted of both twinning and infill drilling of the historical drill holes
located on both the Teledyne Cobalt and Glencore Bucke Properties.
Purickuta Lithium Project (Chile):
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 and Chile itself holds 53% of
the world's known lithium reserves (Source: Bloomberg Markets - June 23, 2017,
"Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says"). The property is
160 hectares large and is enveloped by a concession owned by Sociedad Quimica y
Minera ("SQM") and lies within a few kilometers of a property owned by CORFO
(the Chilean Economic Development Agency) where its leases land to both SQM and
Albermarle's Rockwood Lithium Corp. ("Albermarle") for lithium extraction.
Together these two companies, SQM and Albermarle, have a combined annual
production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) making up
100% of Chile's current lithium output. As reported in The Economist (June 15,
2017 - A battle for supremacy in the lithium triangle), the Salar de Atacama has
the largest and highest quality proven reserves of lithium. The combination of
the desert's hot sun, scarce rainfall, and the mineral-rich brines make Chile's
production costs the world's lowest. This together with a favourable investment
climate, low levels of corruption, and the quality of its bureaucracy and courts
makes Chile a favourable place to conduct business.
Dixie Valley Lithium Project (Nevada, USA):
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. Some important geological similarities exist between various lithium
brines, notably geothermal activity, a dry climate, a closed basin, an aquifer,
and tectonically driven subsistence exist at Dixie Valley along with Clayton
Valley and various lithium bearing salars in Chile, Argentina and Bolivia.
Black Rock Desert Lithium Project (Nevada, USA):
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 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.
Contact:
Phone: +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Summary of the Glencore Bucke Property Phase 1 Diamond Drilling Program
Vancouver, British Columbia --January 26, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to the update its
shareholders on the completion on the Glencore Bucke Property Phase 1 diamond
drilling program. During the fall of 2017, LiCo completed 21 diamond drill holes
totaling 1,900 m. This drill program, along with the Phase 1 diamond drilling
program completed on the Teledyne Cobalt Property, satisfied LiCo’s flow-through
financing obligations. The exploration program at the Glencore Bucke Property
also satisfied our contractual obligations to Glencore plc. whereby LiCo was to
incur $250,000 of exploration expenditures on the Property within six months of
the
approval date (see News Release dated September 5th, 2017).
In 1981, Teledyne Canada Ltd., completed 36 surface diamond drill holes totaling
3,323 m. The drill program outlined two separate vein systems hosting
significant cobalt and silver values, known as the Main Zone, measuring 152.4 m
in length, and the Northwest Zone, measuring 70.0 m in length (Bresee, 1982).
LiCo’s Phase 1 diamond drill program was designed to confirm and extend the
existing known mineralization along strike and up and down dip, and LiCo was
successful in completing this objective. The program tested the Main Zone for a
strike length of approximately 55 m and the Northwest Zone for a strike length
of approximately 45 m. Due to the nature of the mineralization, drill holes were
closely spaced apart, generally at 10 m along sections, and 12.5 m between
sections on average. Significant cobalt intersections include diamond drill hole
GB17-10 that intersected 0.55% Co over 5.00 m from 28.00 to 33.00 m, and diamond
drill hole GB17-15 that intersected 8.42% Co over 0.30 m from 62.40 to 62.70 m.
Significant copper mineralization was also intersected, such as 0.90% Cu over
20.20 m from 42.50 to 62.70 m in diamond drill hole GB17-15, and 1.25% Cu over
6.10 m from 67.50 to 73.60 m in diamond drill hole GB17-21. The aforementioned
intervals represent core lengths, and not true widths.
“We are very pleased with the results of the Glencore Bucke Phase 1 drill
program, “commented Tim Fernback, LiCo President and CEO. “We not only were
successful in completing the objective of the drill program but also with the
overall grade, width and consistency of the mineralization. We are working on
the design and amount of metres to be drilled of the Phase 2 drill program which
will then be the basis of completing a 43-101 compliant resource estimation,
which will be completed in conjunction with the Teledyne Cobalt Project”.
A summary of the most significant results from the Phase 1 diamond drilling
program are provided in Table 1, while drill hole collar information is provided
in Table 2.
Table 1: Highlights of Phase 1 Diamond Drilling Results, Glencore Bucke Property
DDH |
From (m) |
To (m) |
Core length (m) |
Co (%) |
Ag (ppm) |
Cu (ppm) |
Zn (ppm) |
Pb (ppm) |
GB17-01 |
18.00 |
21.00 |
3.00 |
0.31 |
1.5 |
41 |
27 |
4 |
GB17-02 |
39.37 |
39.67 |
0.30 |
0.42 |
707 |
2100 |
136 |
21900 |
GB17-03 |
27.15 |
28.90 |
1.75 |
0.27 |
0.6 |
4 |
27 |
2 |
GB17-03 |
31.25 |
31.5 |
0.25 |
0.39 |
6.3 |
619 |
33 |
27 |
GB17-03 |
38.50 |
41.00 |
2.50 |
0.03 |
12.2 |
10251 |
204 |
689 |
GB17-04 |
16.25 |
16.75 |
0.50 |
1.62 |
7 |
994 |
3493 |
28 |
GB17-06 |
22.50 |
24.25 |
1.75 |
0.25 |
12 |
288 |
132 |
6 |
incl. |
23.25 |
23.75 |
0.50 |
0.58 |
28.9 |
714 |
39 |
6 |
GB17-06 |
44.40 |
44.70 |
0.30 |
4.45 |
34.2 |
460 |
2600 |
159 |
GB17-07 |
99.79 |
100.05 |
0.26 |
7.64 |
9.1 |
441 |
44 |
16 |
GB17-10 |
28.00 |
33.00 |
5.00 |
0.55 |
0.8 |
7 |
32 |
2 |
GB17-10 |
81.00 |
83.30 |
2.30 |
0.11 |
17.6 |
5334 |
696 |
208 |
GB17-13 |
77.60 |
78.50 |
0.90 |
0.46 |
132.5 |
14614 |
1759 |
2059 |
incl. |
77.60 |
78.00 |
0.40 |
0.79 |
221 |
24000 |
3670 |
3840 |
GB17-13 |
100.50 |
102.00 |
1.50 |
0.32 |
98.8 |
8124 |
417 |
6588 |
incl. |
100.80 |
101.40 |
0.60 |
0.55 |
16.9 |
4970 |
376 |
6110 |
GB17-15 |
27.50 |
28.40 |
0.90 |
0.55 |
2.1 |
29 |
126 |
18 |
incl. |
27.80 |
28.10 |
0.30 |
0.92 |
2.9 |
40 |
208 |
29 |
GB17-15 |
42.50 |
62.70 |
20.20 |
0.17 |
19.9 |
8983 |
2638 |
4747 |
incl. |
62.40 |
62.70 |
0.30 |
8.42 |
136 |
1280 |
884 |
447 |
GB17-18 |
80.10 |
81.00 |
0.90 |
0.43 |
86.8 |
5177 |
133 |
662 |
GB17-19 |
46.00 |
46.60 |
0.60 |
0.75 |
111.1 |
689 |
44 |
6745 |
incl. |
46.00 |
46.30 |
0.30 |
1.33 |
208 |
1210 |
59 |
12400 |
GB17-20 |
60.25 |
64.30 |
4.05 |
0.44 |
19.4 |
9863 |
116 |
30 |
incl. |
62.80 |
64.00 |
1.20 |
1.42 |
48.8 |
19362 |
127 |
60 |
GB17-21 |
67.50 |
73.60 |
6.10 |
0.08 |
18.1 |
12545 |
378 |
463 |
incl. |
69.70 |
70.30 |
0.60 |
0.73 |
50 |
13070 |
312 |
378 |
Note: Intervals reported in Table 1 represent core lengths and not true widths.
Table 2: Drill hole Collar Information
DDH |
Azm |
Dip |
GB17-01 |
270 |
-45 |
GB17-02 |
270 |
-45 |
GB17-03 |
270 |
-45 |
GB17-04 |
270 |
-45 |
GB17-05 |
270 |
-45 |
GB17-06 |
270 |
-45 |
GB17-07 |
270 |
-45 |
GB17-08 |
270 |
-45 |
GB17-09 |
270 |
-45 |
GB17-10 |
270 |
-45 |
GB17-11 |
270 |
-45 |
GB17-12 |
270 |
-45 |
GB17-13 |
270 |
-45 |
GB17-14 |
270 |
-60 |
GB17-15 |
270 |
-45 |
GB17-16 |
270 |
-45 |
GB17-17 |
270 |
-60 |
GB17-18 |
270 |
-45 |
GB17-19 |
270 |
-45 |
GB17-20 |
270 |
-45 |
GB17-21 |
270 |
-52 |
Once the final assay results are received from
the Teledyne Cobalt Project, LiCo will evaluate the results, along with the
results from the Glencore Bucke Property, to develop a 2018 Phase 2 diamond
drilling program for each Property.
QA/QC Program
LiCo Energy Metals Inc. has implemented a quality assurance/quality control
(QA/QC) program for both the Glencore Bucke and Teledyne Property drill
programs.
Diamond drill core was logged, then sawed in half, with one half placed in a
labelled bag, and the remaining half placed back into the core box and stored in
a secured compound. Either a standard or a blank was inserted every 20th sample.
All samples were shipped to Activation Laboratories in Ancaster, Ontario. Each
sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. A
0.25g sample is digested with a near total digestion (4 acids) and then analyzed
using an ICP. QC for the digestion is 14% for each batch, 5 method reagent
blanks, 10 in-house controls, 10 samples duplicates, and 8 certified reference
materials. An additional 13% QC is performed as part of the instrumental
analysis to ensure quality in the areas of instrumental drift. If over limits
for Cu, Pb, Zn, and Co are encountered, a sodium peroxide fusion, acid
dissolution followed by ICP‐OES is completed. For Ag over limits, a four acid
digestion is completed followed by ICP‐OES.
Qualified Person
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.
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 the Teledyne property. The Company
completed a total of 11 diamond drill holes totaling 2,200 m in the fall of
2017. The drilling has confirmed cobalt mineralization present on the Property
which is consistent with historical grades as reported historically by
Cunningham-Dunlop (1979) and Bressee (1981), disclosed in earlier news releases.
These reports are available in the public domain through MNDM’s AFRI database.
NI 43-101 Reports for both the Teledyne and Glencore Bucke Properties, are
publicly available on www.SEDAR.com as well as the Company’s website. LiCo’s
recently completed diamond drilling program (September to December 2017)
consisted of both twinning and infill drilling of the historical drill holes
located on both the Teledyne Cobalt and Glencore Bucke Properties.
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 and Chile itself holds 53% of
the world’s known lithium reserves (Source: Bloomberg Markets – June 23, 2017,
“Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says”). The property is
160 hectares large and is enveloped by a concession owned by Sociedad Quimica y
Minera (“SQM”) and lies within a few kilometers of a property owned by CORFO
(the Chilean Economic Development Agency) where its leases land to both SQM and
Albermarle’s Rockwood Lithium Corp. (“Albermarle”) for lithium extraction.
Together these two companies, SQM and Albermarle, have a combined annual
production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) making up
100% of Chile’s current lithium output. As reported in The Economist (June 15,
2017 – A battle for supremacy in the lithium triangle), the Salar de Atacama has
the largest and highest quality proven reserves of lithium. The combination of
the desert’s hot sun, scarce rainfall, and the mineral-rich brines make Chile’s
production costs the world’s lowest. This together with a favourable investment
climate, low levels of corruption, and the quality of its bureaucracy and courts
makes Chile a favourable place to conduct business.
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. Some important geological similarities exist between various lithium
brines, notably geothermal activity, a dry climate, a closed basin, an aquifer,
and tectonically driven subsistence exist at Dixie Valley along with Clayton
Valley and various lithium bearing salars in Chile, Argentina and Bolivia.
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 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.
Contact:
Phone: +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Intersects 21.9 % Cobalt Over 0.36 m and 18.7 % Cobalt Over
0.15 m at Teledyne Cobalt Property
Vancouver, British Columbia --January 24, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to report assay results for
drill holes TE17-04 and TE17-05 completed on the Teledyne Cobalt Property,
located 6 km northeast of Cobalt, Ontario. The current drill program was
designed to confirm and extend the existing known mineralization along strike
and up and down dip.
A summary of the most significant results of the recent drill core assays
are:
- TE17-05 2.32% Co over 4.00 m from 126.5 to 130.50 m,
including 21.9% Co over 0.36 m from 127.64 to 128.00 m
- TE17-04 1.82% Co over 6.00 m from 138.00 to 144.00 m, including 5.06% Co over
1.75 m from 141.25 to 143.00 m, and 18.70% Co over 0.15 m from 141.64 to 141.79
m.
- TE17-05 1.70% Co over 6.00 m from 136.00 to 142.00 m.
"LiCo is very encouraged by these higher-grade results for the Teledyne Cobalt
Project," says Tim Fernback, President & CEO of LiCo. "These are the highest
grade results that have been intersected to date on either LiCo's Teledyne or
Glencore-Bucke Properties that LiCo has drill tested to date."
On the Teledyne Cobalt Property, the Company completed a total of 11 diamond
drill holes totaling 2,200 m in the fall of 2017.
The results and drill hole collar information for diamond drill holes TE17-04 to
TE17-05 are summarized in Tables 1 & 2 below.
Table 1: Drill hole Collar Information
DDH Azm Dip TE17-04 090 -45 TE17-05 090 -45
Table 2: Summary of Diamond Drill Results
Core To Length Co Ag Cu Zn Pb DDH From (m) (m) (m) (%) (ppm) (ppm) (ppm) (ppm) TE17-04 138.00 144.00 6.00 1.82 4.7 742 49 20 incl. 138.50 144.00 5.50 1.98 5 786 51 21 incl. 139.00 144.00 5.00 2.16 5.4 840 53 23 incl. 140.45 143.00 2.55 3.84 8 1242 67 33 incl. 141.25 143.00 1.75 5.06 9.1 744 85 36 incl. 141.64 141.79 0.15 18.70 16 251 6 37 TE17-05 126.50 130.50 4.00 2.32 7.6 425 49 61 incl. 127.00 128.00 1.00 8.48 5.6 105 25 24 incl. 127.00 129.00 2.00 4.47 7.1 263 28 50 incl. 127.64 128.00 0.36 21.9 11.5 42 31 36 TE17-05 136.00 142.00 6.00 1.70 2.6 40 148 28 incl. 136.00 140.00 4.00 2.47 2.8 34 210 33 incl. 136.50 138.5 2.00 4.41 3.7 30 141 46
Note: Intervals reported in Table 2 represent core lengths and
not true widths.
QA/QC Program
LiCo Energy Metals Inc. has implemented a quality assurance/quality control
(QA/QC) program for Teledyne Cobalt Property Phase 1 diamond drilling program.
Diamond drill core was logged, then sawed in half, with one half placed in a
labeled bag, and the remaining half placed back into the core box and stored in
a secured compound. Either a standard or a blank was inserted every 20th sample.
All samples were shipped to Activation Laboratories in Ancaster, Ontario. Each
sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. A
0.25g sample is digested with a near total digestion (4 acids) and then analyzed
using an ICP. QC for the digestion is 14% for each batch, 5 method reagent
blanks, 10 in-house controls, 10 samples duplicates, and 8 certified reference
materials. An additional 13% QC is performed as part of the instrumental
analysis to ensure quality in the areas of instrumental drift. If over limits
for Cu, Pb, Zn, and Co are encountered, a sodium peroxide fusion, acid
dissolution followed by ICP‐OES is completed. For Ag over limits, a four-acid
digestion is completed followed by ICP‐OES.
Qualified Person
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.
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 the
Teledyne property. The Company completed a total of 11 diamond drill holes
totaling 2,200 m in the fall of 2017. The drilling has confirmed cobalt
mineralization present on the Property which is consistent with historical
grades as reported historically by Cunningham-Dunlop (1979) and Bressee (1981),
disclosed in earlier news releases. These reports are available in the public
domain through MNDM's AFRI database.
NI 43-101 Reports for both the Teledyne and Glencore Bucke Properties, are
publicly available on http://www.SEDAR.com as well as the Company's website.
LiCo's recently completed diamond drilling program (September to December 2017)
consisted of both twinning and infill drilling of the historical drill holes
located on both the Teledyne Cobalt and Glencore Bucke Properties.
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 and Chile itself holds 53% of
the world's known lithium reserves (Source: Bloomberg Markets - June 23, 2017,
"Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says") . The property is
160 hectares large and is enveloped by a concession owned by Sociedad Quimica y
Minera ("SQM") and lies within a few kilometers of a property owned by CORFO
(the Chilean Economic Development Agency) where its leases land to both SQM and
Albermarle's Rockwood Lithium Corp. ("Albermarle") for lithium extraction.
Together these two companies, SQM and Albermarle, have a combined annual
production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) making up
100% of Chile's current lithium output. As reported in The Economist (June 15,
2017 - A battle for supremacy in the lithium triangle), the Salar de Atacama has
the largest and highest quality proven reserves of lithium. The combination of
the desert's hot sun, scarce rainfall, and the mineral-rich brines make Chile's
production costs the world's lowest. This together with a favourable investment
climate, low levels of corruption, and the quality of its bureaucracy and courts
makes Chile a favourable place to conduct business.
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. Some important geological similarities exist between various lithium
brines, notably geothermal activity, a dry climate, a closed basin, an aquifer,
and tectonically driven subsistence exist at Dixie Valley along with Clayton
Valley and various lithium bearing salars in Chile, Argentina and Bolivia.
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 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.
Contact:
Phone: +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Intersects 8.42% Co Over 0.30 Metres on the Glencore Bucke Property
Vancouver, British Columbia --January 17, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to the report assay results
for drill holes GB17-15 through to GB17-19, completed on the Glencore Bucke
Property, located 6 km northeast of Cobalt, Ontario. The current drill program
was designed to confirm and extend the existing known mineralization along
strike and up and down dip and LiCo was successful in completing this objective.
A summary of the most significant results of the recent drill core assays are:
- GB17-15 0.17 % Co, 19.9 ppm Ag, and 0.90% Cu over 20.20 m from 42.50 to
62.70 m, including 8.42 % Co, 136 ppm Ag over 0.30 m from 62.40 to 62.70 m
- GB17-15 0.55 % Co over 0.90 m from 27.50 to 28.40 m, including 0.92 % Co over
0.30 m from 27.80 to 28.10 m
- GB17-18 0.43 % Co, 86.8 ppm Ag, 0.52% Cu over 0.90 m from 80.10 to 81.00 m
- GB17-19 0.75 % Co, 111.1 ppm Ag over 0.60 m from 46.00 to 46.60 m, including
1.33 % Co, 208 ppm Ag over 0.30 m from 46.00 to 46.30 m
"We have consistently seen higher grade cobalt mineralization being intersected
throughout the drilling completed at Glencore Bucke," says Tim Fernback,
President & CEO of LiCo. "Along with the cobalt, appreciable copper values have
been intersected over larger intervals such as 0.90 % over 20.20 m. These
additional base metal zones that have been reported over the last several months
were not expected."
On the Glencore Bucke Property, the Company has completed a total of 21 diamond
drill holes totaling 1,900 m, testing the Main and Northwest zones. The final
assay results for the Glencore Bucke Property have been released, however, the
Company will continue to release drill results from the Teledyne Cobalt Property
as they are received.
The results and drill hole collar information for diamond drill holes GB17-15
through to GB17-19 are summarized in Tables 1 & 2 below.
Table 1: Summary of Diamond Drill Results
DDH
|
From (m)
|
To (m)
|
Core Length (m) |
Co (%)
|
Ag (ppm)
|
Cu (ppm)
|
Zn (ppm)
|
Pb (ppm)
|
GB17-15 |
22.65 |
23.05 |
0.40 |
0.23 |
1.7 |
66 |
41 |
2 |
GB17-15 |
27.50 |
28.40 |
0.90 |
0.55 |
2.1 |
29 |
126 |
18 |
incl. |
27.80 |
28.10 |
0.30 |
0.92 |
2.9 |
40 |
208 |
29 |
GB17-15 |
42.50 |
62.70 |
20.20 |
0.17 |
19.9 |
8983 |
2638 |
4747 |
incl. |
45.30 |
45.60 |
0.30 |
0.37 |
27.4 |
9100 |
135 |
4440 |
incl. |
54.00 |
54.30 |
0.30 |
0.21 |
9.9 |
5370 |
148 |
114 |
incl. |
55.80 |
57.50 |
1.70 |
0.22 |
32.1 |
18797 |
268 |
103 |
incl. |
56.30 |
56.70 |
0.40 |
0.48 |
67.6 |
40500 |
271 |
164 |
incl. |
62.40 |
62.70 |
0.30 |
8.42 |
136 |
1280 |
884 |
447 |
GB17-15 |
72.00 |
72.50 |
0.50 |
0.12 |
9.9 |
7650 |
2430 |
738 |
GB17-16 |
34.50 |
35.50 |
1.00 |
0.27 |
1 |
4 |
81 |
7 |
GB17-16 |
83.40 |
83.70 |
0.30 |
0.15 |
26 |
4190 |
300 |
513 |
GB17-16 |
89.40 |
90.00 |
0.60 |
0.01 |
6.8 |
7990 |
729 |
770 |
GB17-16 |
92.00 |
93.90 |
1.90 |
0.00 |
4.3 |
280 |
9768 |
2924 |
incl. |
92.00 |
93.00 |
1.00 |
0.00 |
5.1 |
245 |
13720 |
4532 |
GB17-17 |
34.70 |
35.50 |
0.80 |
0.20 |
1 |
92 |
40 |
4 |
GB17-17 |
42.80 |
51.80 |
9.00 |
0.02 |
4.7 |
5118 |
358 |
118 |
incl. |
44.60 |
49.00 |
4.40 |
0.02 |
6.9 |
7763 |
171 |
54 |
incl. |
45.00 |
45.60 |
0.60 |
0.01 |
12.8 |
22450 |
134 |
8 |
GB17-18 |
76.50 |
82.00 |
5.50 |
0.11 |
25.9 |
6567 |
1812 |
4795 |
incl. |
78.30 |
81.00 |
2.70 |
0.23 |
37 |
7411 |
283 |
566 |
incl. |
79.80 |
81.00 |
1.20 |
0.38 |
66.6 |
5228 |
134 |
523 |
incl. |
80.10 |
81.00 |
0.90 |
0.43 |
86.8 |
5177 |
133 |
662 |
GB17-19 |
37.70 |
38.10 |
0.40 |
0.11 |
0.2 |
18 |
46 |
2 |
GB17-19 |
44.50 |
47.40 |
2.90 |
0.16 |
24.9 |
2981 |
62 |
1421 |
incl. |
46.00 |
46.60 |
0.60 |
0.75 |
111.1 |
689 |
44 |
6745 |
incl. |
46.00 |
46.30 |
0.30 |
1.33 |
208 |
1210 |
59 |
12400 |
GB17-19 |
47.40 |
47.80 |
0.40 |
0.30 |
5.4 |
392 |
59 |
179 |
GB17-19 |
46.00 |
51.00 |
5.00 |
0.16 |
15.6 |
1271 |
54 |
882 |
incl. |
50.50 |
51.00 |
0.50 |
0.28 |
5.6 |
77 |
55 |
216 |
GB17-19 |
90.00 |
93.00 |
3.00 |
0.05 |
15.9 |
6456 |
830 |
615 |
incl. |
91.30 |
91.60 |
0.30 |
0.38 |
49.2 |
17100 |
88 |
410 |
Note: Intervals reported in Table 1 represent core lengths and not true widths.
Table 2: Drill hole Collar Information
DDH |
Azm |
Dip |
GB17-15 |
270 |
-45 |
GB17-16 |
270 |
-45 |
GB17-17 |
270 |
-60 |
GB17-18 |
270 |
-45 |
GB17-19 |
270 |
-45 |
"As reported on the Company's November 30th, 2017 news release,
LiCo has recently completed its 2017 diamond drilling program on its Teledyne
and Glencore Bucke Properties completing a total of 32 diamond drill holes,
drilling 4,100 m of core. This exploration work satisfies both its flow-through
financing obligations and the contractual obligations outlined in the recently
acquired Glencore Bucke Property from Glencore plc of Baar Switzerland (LSE:
GLEN).
LiCo Energy Metals Inc. has implemented a quality assurance/quality control
(QA/QC) program for both the Glencore Bucke and Teledyne Property drill
programs.
Diamond drill core was logged, then sawed in half, with one half placed in a
labelled bag, and the remaining half placed back into the core box and stored in
a secured compound. Either a standard or a blank was inserted every 20th sample.
All samples were shipped to Activation Laboratories in Ancaster, Ontario. Each
sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. A
0.25g sample is digested with a near total digestion (4 acids) and then analyzed
using an ICP. QC for the digestion is 14% for each batch, 5 method reagent
blanks, 10 in-house controls, 10 samples duplicates, and 8 certified reference
materials. An additional 13% QC is performed as part of the instrumental
analysis to ensure quality in the areas of instrumental drift. If over limits
for Cu, Pb, Zn, and Co are encountered, a sodium peroxide fusion, acid
dissolution followed by ICP‐OES is completed. For Ag over limits, a four acid
digestion is completed followed by ICP‐OES.
Qualified Person
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.
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 the
Teledyne property. The Company completed a total of 11 diamond drill holes
totaling 2,200 m in the fall of 2017. The drilling has confirmed cobalt
mineralization present on the Property which is consistent with historical
grades as reported historically by Cunningham-Dunlop (1979) and Bressee (1981),
disclosed in earlier news releases. These reports are available in the public
domain through MNDM's AFRI database.
NI 43-101 Reports for both the Teledyne and Glencore Bucke Properties, are
publicly available on www.SEDAR.com as well as the Company's website. LiCo's
recently completed diamond drilling program (September to December 2017)
consisted of both twinning and infill drilling of the historical drill holes
located on both the Teledyne Cobalt and Glencore Bucke Properties.
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 and Chile itself holds 53% of
the world's known lithium reserves (Source: Bloomberg Markets – June 23, 2017,
"Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says"). The property is
160 hectares large and is enveloped by a concession owned by Sociedad Quimica y
Minera ("SQM") and lies within a few kilometers of a property owned by CORFO
(the Chilean Economic Development Agency) where its leases land to both SQM and
Albermarle's Rockwood Lithium Corp. ("Albermarle") for lithium extraction.
Together these two companies, SQM and Albermarle, have a combined annual
production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) making up
100% of Chile's current lithium output. As reported in The Economist (June 15,
2017 – A battle for supremacy in the lithium triangle), the Salar de Atacama has
the largest and highest quality proven reserves of lithium. The combination of
the desert's hot sun, scarce rainfall, and the mineral-rich brines make Chile's
production costs the world's lowest. This together with a favourable investment
climate, low levels of corruption, and the quality of its bureaucracy and courts
makes Chile a favourable place to conduct business.
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. Some important geological similarities exist between various lithium
brines, notably geothermal activity, a dry climate, a closed basin, an aquifer,
and tectonically driven subsistence exist at Dixie Valley along with Clayton
Valley and various lithium bearing salars in Chile, Argentina and Bolivia.
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 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.
Contact:
Phone: +1-236-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals Inc. President & CEO Tim Fernback Interviewed by Dr. Allen Alper of MetalsNews
Vancouver, British Columbia --January 11, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to report President & CEO
Tim Fernback Interviewed by Dr. Allen Alper of MetalsNews at: http://metalsnews.com/t1196893i
Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC,
USA interviewed Tim Fernback for a featured article that appeared January 11th,
2018 in MetalsNews.com. Dr. Alper was very impressed with Mr. Fernback's
leadership, progress and vision for LiCo Energy Metals Inc.
LiCo Energy Metals is a grassroots Canadian company that conducts exploration
for lithium and cobalt metals used in the production of lithium-ion batteries.
LiCo Energy Metals has four ongoing projects in mining-friendly jurisdictions
within Canada, the United States, and Chile.
Dr. Alper learned from Tim Fernback, President and CEO of LiCo Energy Metals,
that their properties are strategically located in some of the best areas, where
the presence of lithium and cobalt has been found historically. LiCo happens to
be one of the four companies, in the Atacama Desert in Chile, that holds close
to 50% of the world's lithium reserves.
The full featured article can be read on line at: http://metalsnews.com/t1196893i
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canada-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 the Teledyne property. The Company
completed a total of 11 diamond drill holes totaling 2,200 m in the fall of
2017. The drilling has confirmed cobalt mineralization present on the Property
which is consistent with historical grades as reported historically by
Cunningham-Dunlop (1979) and Bressee (1981), disclosed in earlier news releases.
These reports are available in the public domain through MNDM's AFRI database.
NI 43-101 Reports for both the Teledyne and Glencore Bucke Properties, are
publicly available on http://www.SEDAR.com as well as the Company's website.
LiCo's recently completed diamond drilling program (September to December 2017)
consisted of both twinning and infill drilling of the historical drill holes
located on both the Teledyne Cobalt and Glencore Bucke Properties.
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 and Chile
itself holds 53% of the world's known lithium reserves (Source: Bloomberg
Markets - June 23, 2017, "Lithium Squeeze Looms as Top Miner Front-Loads, Chile
Says") . The property is 160 hectares large and is enveloped by a concession
owned by Sociedad Quimica y Minera ("SQM") and lies within a few kilometers of a
property owned by CORFO (the Chilean Economic Development Agency) where its
leases land to both SQM and Albermarle's Rockwood Lithium Corp. ("Albermarle")
for lithium extraction. Together these two companies, SQM and Albermarle, have a
combined annual production of over 62,000 tonnes of LCE (Lithium Carbonate
Equivalent) making up 100% of Chile's current lithium output. As reported in The
Economist (June 15, 2017 - A battle for supremacy in the lithium triangle), the
Salar de Atacama has the largest and highest quality proven reserves of lithium.
The combination of the desert's hot sun, scarce rainfall, and the mineral-rich
brines make Chile's production costs the world's lowest. This together with a
favourable investment climate, low levels of corruption, and the quality of its
bureaucracy and courts makes Chile a favourable place to conduct business.
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. Some important geological
similarities exist between various lithium brines, notably geothermal activity,
a dry climate, a closed basin, an aquifer, and tectonically driven subsistence
exist at Dixie Valley along with Clayton Valley and various lithium bearing
salars in Chile, Argentina and Bolivia.
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 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.
Contact:
Phone: +1(236)-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Intersects 1.42% Co and 1.94% Cu over 1.2 metres on the Glencore Bucke Property
Vancouver, British Columbia --January 10, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to report assay results for
drill holes GB17-11 through to GB17-14, GB17-20, and GB17-21, completed on the
Glencore Bucke Property, located 6 km northeast of Cobalt, Ontario.
A summary of the most significant results of the recent drill core assays
are:
• GB17-13 0.92% Co over 2.0 m from 34.00 to 36.0 m, including 2.53% Co over
0.6 m from 35.1 to 35.7m.
• GB17-13 0.46% Co, 132.5 ppm Ag, 1.46% Cu over 0.9 m from 77.6 to 78.5 m,
including 0.79 % Co, 221.0 ppm Ag, 2.40% Cu over 0.4 m from 77.6 to 78.0
m.
• GB17-13 0.32% Co, 98.8 ppm Ag, 0.81% Cu over 1.5 m from 100.5 to 102.0m,
including 0.55% Co, 16.9 ppm Ag, 0.50% Cu over 0.6 m from 100.8 to 101.4 m.
• GB17-20 0.44% Co, 19.4 ppm Ag 0.99% Cu over 4.05 m from 60.25 to 64.30 m,
including 1.42% Co, 48.8 ppm Ag, 1.94% Cu over 1.2 m from 62.8 to 64.0 m.
• GB17-21 0.08% Co, 18.1 ppm Ag, 1.25% Cu over 6.1 m, including 0.73% Co, 50.0
ppm Ag, 1.31% Cu over 0.6 m from 69.7 to 70.3 m.
“We are very pleased with the drill program continuing to intersect the higher
grade cobalt mineralization that has been intersected at Glencore Bucke
property”, says Tim Fernback, President & CEO of LiCo and “not only have we
continued to intersect cobalt mineralization, but also the base metal
mineralization that has the potential to be advantageous when a resource
estimate will be completed in the future”.
On the Glencore Bucke Property, the Company has completed a total of 21 diamond
drill holes totaling 1,900 m, testing the Main and Northwest zones. The Company
will continue to release results from the Glencore Bucke and Teledyne drill
programs as they are received.
The results for diamond drill hole GB17-11 through to GB17-14, GB17-20, and
GB17-21 are summarized in Table 1 below.
Table 1: Summary of Diamond Drill Results
DDH |
From (m) |
To (m) |
Core Length (m) |
Co (%) |
Ag (ppm) |
Cu (ppm) |
Zn (ppm) |
Pb (ppm) |
GB17-11 |
29.00 |
29.25 |
0.25 |
0.27 |
0.6 |
1 |
27 |
2 |
GB17-11 |
60.00 |
60.30 |
0.30 |
0.32 |
22.5 |
2650 |
92 |
34 |
GB17-11 |
82.50 |
83.50 |
1.00 |
0.03 |
28.0 |
4260 |
13960 |
29050 |
GB17-12 |
50.50 |
51.30 |
0.80 |
0.14 |
25.8 |
475 |
152 |
2395 |
GB17-13 |
34.00 |
36.00 |
2.00 |
0.92 |
2.8 |
175 |
147 |
23 |
incl. |
35.10 |
35.70 |
0.60 |
2.53 |
5.2 |
270 |
101 |
32 |
GB17-13 |
52.40 |
53.00 |
0.60 |
0.48 |
65.8 |
3770 |
94 |
2675 |
GB17-13 |
77.60 |
78.50 |
0.90 |
0.46 |
132.5 |
14614 |
1759 |
2059 |
incl. |
77.60 |
78.00 |
0.40 |
0.79 |
221.0 |
24000 |
3670 |
3840 |
GB17-13 |
100.50 |
102.00 |
1.50 |
0.32 |
98.8 |
8124 |
417 |
6588 |
incl. |
100.80 |
101.40 |
0.60 |
0.55 |
16.9 |
4970 |
376 |
6110 |
GB17-14 |
33.60 |
37.70 |
4.10 |
0.04 |
5.4 |
3559 |
575 |
2095 |
incl. |
36.00 |
36.30 |
0.30 |
0.36 |
17.1 |
3600 |
633 |
2080 |
GB17-14 |
41.70 |
43.30 |
1.60 |
0.03 |
16.8 |
10184 |
317 |
164 |
GB17-20 |
52.20 |
52.80 |
0.60 |
0.34 |
129 |
268 |
110 |
10200 |
GB17-20 |
58.00 |
64.00 |
6.00 |
0.29 |
13.8 |
7804 |
110 |
26 |
incl. |
60.25 |
64.30 |
4.05 |
0.44 |
19.4 |
9863 |
116 |
30 |
incl. |
62.80 |
64.00 |
1.20 |
1.42 |
48.8 |
19362 |
127 |
60 |
GB17-20 |
66.40 |
69.70 |
3.30 |
0.02 |
13.2 |
9494 |
180 |
130 |
incl. |
67.00 |
68.50 |
1.50 |
0.03 |
19 |
13858 |
169 |
100 |
GB17-20 |
101.50 |
108.60 |
7.10 |
0.03 |
16.9 |
7640 |
275 |
901 |
incl. |
102.30 |
103.70 |
1.40 |
0.07 |
28.7 |
11814 |
193 |
432 |
incl. |
102.30 |
102.60 |
0.30 |
0.26 |
49.5 |
11600 |
198 |
1230 |
GB17-21 |
55.10 |
55.40 |
0.30 |
0.33 |
134.0 |
702 |
181 |
15600 |
GB17-21 |
67.50 |
73.60 |
6.10 |
0.08 |
18.1 |
12545 |
378 |
463 |
incl. |
69.70 |
73.10 |
3.40 |
0.14 |
31.2 |
21071 |
160 |
162 |
incl. |
69.70 |
70.30 |
0.60 |
0.73 |
50.0 |
13070 |
312 |
378 |
GB17-21 |
83.45 |
83.70 |
0.25 |
0.28 |
49.7 |
1650 |
396 |
4990 |
Note: Intervals reported in Table 1 represent core lengths
and not true widths.
As reported on the Company’s November 30th, 2017 news release, LiCo has recently
completed its 2017 diamond drilling program on its Teledyne and Glencore Bucke
Properties completing a total of 32 diamond drill holes, drilling 4,100 m of
core. This exploration work satisfies both its flow-through financing
obligations and the contractual obligations outlined in the recently acquired
Glencore Bucke Property from Glencore plc of Baar Switzerland (LSE: GLEN).
Qualified Person
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.
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 the Teledyne property. The Company
completed a total of 11 diamond drill holes totaling 2,200 m in the fall of
2017. The drilling has confirmed cobalt mineralization present on the Property
which is consistent with historical grades as reported historically by
Cunningham-Dunlop (1979) and Bressee (1981), disclosed in earlier news releases.
These reports are available in the public domain through MNDM’s AFRI database.
NI 43-101 Reports for both the Teledyne and Glencore Bucke Properties, are
publicly available on www.SEDAR.com as well as the Company’s website. LiCo’s
recently completed diamond drilling program (September to December 2017)
consisted of both twinning and infill drilling of the historical drill holes
located on both the Teledyne Cobalt and Glencore Bucke Properties.
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 and Chile
itself holds 53% of the world’s known lithium reserves (Source: Bloomberg
Markets – June 23, 2017, “Lithium Squeeze Looms as Top Miner Front-Loads, Chile
Says”). The property is 160 hectares large and is enveloped by a concession
owned by Sociedad Quimica y Minera (“SQM”) and lies within a few kilometers of a
property owned by CORFO (the Chilean Economic Development Agency) where its
leases land to both SQM and Albermarle’s Rockwood Lithium Corp. (“Albermarle”)
for lithium extraction. Together these two companies, SQM and Albermarle, have a
combined annual production of over 62,000 tonnes of LCE (Lithium Carbonate
Equivalent) making up 100% of Chile’s current lithium output. As reported in The
Economist (June 15, 2017 – A battle for supremacy in the lithium triangle), the
Salar de Atacama has the largest and highest quality proven reserves of lithium.
The combination of the desert’s hot sun, scarce rainfall, and the mineral-rich
brines make Chile’s production costs the world’s lowest. This together with a
favourable investment climate, low levels of corruption, and the quality of its
bureaucracy and courts makes Chile a favourable place to conduct business.
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. Some important geological
similarities exist between various lithium brines, notably geothermal activity,
a dry climate, a closed basin, an aquifer, and tectonically driven subsistence
exist at Dixie Valley along with Clayton Valley and various lithium bearing
salars in Chile, Argentina and Bolivia.
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.
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.
Phone: +1(236)-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Announces Clarification of January 3rd, 2018 News Release
Vancouver, British Columbia --January 4, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") announces that at request of IIROC,
wishes to clarify disclosures made in its January 3rd, 2018 news release.
Specifically, LiCo wishes to clarify or retract the following:
In the title, the Company has retracted "Commercial Grade" as no technical
report supporting an economic study by either a PEA, PFS of FS has been filed on
SEDAR. Any additional references to "commercial grade" are similarly retracted
for the same reason.
On the Teledyne Cobalt Property, the Company completed a total of 11 diamond
drill holes totaling 2,200 m in the fall of 2017. Drilling intersected cobalt
mineralization on the Property which is consistent with historical grades but
given that previously reported Intervals represent core lengths and not true
widths, LiCo is unable to determine if the cobalt mineralization on the Property
is consistent with historic widths.
Further clarification of LiCo's Exploration Property Descriptions:
Chile Purickuta Lithium Project:
1.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 and Chile itself holds 53% of
the world's known lithium reserves(Source: Bloomberg Markets - June 23, 2017,
"Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says"). As reported inThe
Economist (June 15, 2017 - A battle for supremacy in the lithium triangle), the
Salar de
Atacama has the largest and highest quality proven reserves of lithium. The
combination of the desert's hot sun, scarce rainfall, and the mineral-rich
brines make Chile's production costs the world's lowest. This together with a
favourable investment climate, low levels of corruption, and the quality of its
bureaucracy and courts makes Chile a favourable place to conduct business.
The Company notes that wishes to retract its statement regarding its small size
being a contributing factor to taking this project into production. Although the
Company has received a legal opinion from a respected mining law firm in Chile,
Philippi Prietocarrizosa Ferrero DU & Uria, which states that the small size of
the Company's Purickuta Property, among other factors, is considered favourable
to obtaining a CEOL, the Company recognizes that it will still need the approval
of the Chilean government which may be withheld from the Company for a variety
of additional reasons yet to be determined. It is therefore premature to
determine the exact needs of the Company with respect to the eventual
exploitation of the mineral concession for lithium.
Nevada Dixie Valley Lithium Project:
The Company recognizes that the disclosure referencing the geological
characteristics of Dixie Valley lithium brine matching that of Clayton Valley
and South America lithium brines is both vague and potentially misleading to the
reader. The Company would like to state that some important geological
similarities exist between various lithium brines, notably geothermal activity,
a dry climate, a closed basin, an aquifer, and tectonically driven subsistence
exist at Dixie Valley along with Clayton Valley and various lithium bearing
salars in Chile, Argentina and Boliva.
Qualified Person
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.
Phone: +1(236)-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Intersects Numerous Commercial Grade Cobalt Zones at Teledyne Cobalt Property Similar To Previously Released Results From its Glencore Bucke Cobalt Property
Vancouver, British Columbia --January 3, 2018 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to report assay results for
drill holes TE17-02 and TE17-03 completed on the Teledyne Cobalt Property,
located 6 km northeast of Cobalt, Ontario.
A summary of the most significant results of the recent drill core assays are:
• TE17-02 0.95% Co over 1.9 m from 143.0 to 144.9 m, incl. 2.58% Co over 0.60 m
from 144.30 to 144.90 m
• TE17-02 0.59% Co over 3.9 m from 156.0 to 159.9 m, incl. 2.22% Co over 0.60 m
from 156.6 to 157.2 m
On the Teledyne Cobalt Property, the Company completed a total of 11 diamond
drill holes totaling 2,200 m in the fall of 2017. The drilling has confirmed the
cobalt mineralization on the Property which is consistent with historical grades
and widths reported historically.
As reported on the Company’s November 30th, 2017 news release, LiCo has recently
completed its 2017 diamond drilling program on its Teledyne and Glencore Bucke
Properties completing a total of 32 diamond drill holes, drilling 4,100 m of
core. This exploration work satisfies both its flow-through financing
obligations and the contractual obligations outlined in the recently acquired
Glencore Bucke Property from Glencore plc of Baar Switzerland (LSE: GLEN). The
overall drilling program has confirmed and extended the cobalt mineralization on
each property and these results are consistent with historical grades and widths
in the overall Cobalt Camp. As reported previously, visual cobalt camp style
mineralization has been noted in every drill hole that the Company has logged.
The results for diamond drill hole TE17-02 to TE17-03 is summarized in Table 1
below.
Table 1: Summary of Diamond Drill Results
DDH |
From (m) |
To (m) |
Core Length (m) |
Co (%) |
Ag (ppm) |
Cu (ppm) |
Zn (ppm) |
Pb (ppm) |
TE17-02 |
142.5 |
144.9 |
2.4 |
0.76 |
1.6 |
202 |
35 |
10 |
Incl. |
143 |
144.9 |
1.9 |
0.95 |
1.8 |
234 |
36 |
10 |
Incl. |
144.3 |
144.9 |
0.6 |
2.58 |
1.5 |
140 |
39 |
12 |
TE17-02 |
152 |
161 |
9 |
0.34 |
1.1 |
203 |
262 |
29 |
Incl. |
152 |
154.2 |
2.2 |
0.26 |
1 |
101 |
239 |
38 |
Incl. |
156 |
159.9 |
3.9 |
0.59 |
1.6 |
377 |
445 |
41 |
Incl. |
156 |
157.8 |
1.8 |
0.90 |
2.3 |
228 |
924 |
79 |
Incl. |
156.6 |
157.2 |
0.6 |
2.22 |
5.4 |
590 |
2705 |
226 |
TE17-03 |
128.5 |
129.5 |
1 |
0.11 |
3.1 |
183 |
28 |
26 |
TE17-03 |
152.4 |
155.7 |
3.3 |
0.09 |
1.2 |
13 |
22 |
5 |
TE17-03 |
155.1 |
155.7 |
0.6 |
0.22 |
1.7 |
23 |
14 |
8 |
Note: Intervals reported in Table 1 represent core lengths
and not true widths.
Tim Fernback, President & CEO of LiCo comments “Having consistently found cobalt
in commercial grades of 0.50% and higher is very exciting for our team. This is
especially true when we also see extended zones with greater than 2.0% cobalt in
the same drill core. We are very much looking forward to getting the remaining
drill core results back from the assay lab to confirm that the same cobalt
mineralization is found throughout our Glencore Bucke and Teledyne cobalt
properties.”
QA/QC Program
LiCo Energy Metals Inc. has implemented a quality assurance/quality control
(QA/QC) program for both the Glencore Bucke and Teledyne Property drill
programs.
Diamond drill core was logged, then sawed in half, with one half placed in a
labelled bag, and the remaining half placed back into the core box and stored in
a secured compound. Either a standard or a blank was inserted every 20th sample.
All samples were shipped to Activation Laboratories in Ancaster, Ontario. Each
sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. A
0.25g sample is digested with a near total digestion (4 acids) and then analyzed
using an ICP. QC for the digestion is 14% for each batch, 5 method reagent
blanks, 10 in-house controls, 10 samples duplicates, and 8 certified reference
materials. An additional 13% QC is performed as part of the instrumental
analysis to ensure quality in the areas of instrumental drift. If over limits
for Cu, Pb, Zn, and Co are encountered, a sodium peroxide fusion, acid
dissolution followed by ICP‐OES is completed. For Ag over limits, a four acid
digestion is completed followed by ICP‐OES.
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck,
P.Geo., (LiCo’s QP), and supervised by Dwayne Melrose, Director and Head of the
Technical Advisory Board of LiCo.
The overall drilling program has been conducted as part of LiCo’s flow thru
financing and work commitments for Teledyne Property.
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.
Phone: +1(236)-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Receives $1,222,250 From the Exercise of Options and Warrants and is Featured in the Current Issue of Resource Global Network
Vancouver, British Columbia --December 7, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to announce that from
November 9th, 2017 to December 4th, 2017, the Company has received $1,222,250 in
proceeds from the exercise of warrants and options. This amount, in addition to
the recently closed non-brokered private placement offering of $960,000, has put
an additional $2,182,250 into the Company's treasury since November 9th, 2017.
"We are very happy that our shareholders continue to support our company and its
exploration programs globally" comments Mr. Tim Fernback, President & CEO of
LiCo. "The funds that we have received over the past month will not only go
towards additional mineral exploration in Canada, but will be used to make our
final property payment in early 2018 to Glencore on the Glencore Bucke Property.
Completing this transaction with Glencore, and working towards the delineation
of an aggregate in-situ value of $100,000,000 or more, is part of our corporate
plan to create a cobalt resource in Ontario.
Hitting this in-situ value mark is an important factor in Glencore's Back-In
Option with LiCo."
The Company plans to allocate a minimum of $640,000 to a future Canadian
exploration program in accordance with its flow through spending requirements.
Management anticipates formulating a comprehensive 2018 Canadian exploration
program once the final assay results are received from the recently completed
diamond drilling programs at LiCo's Glencore Bucke and Teledyne Properties at
the beginning of the calendar year.
LiCo was also featured in a recent issue of Resource Global Network Magazine
(Volume 4 Issue 7) which was unveiled at London's Mines and Money Conference at
the end of November 2017. This article includes an interview with LiCo's
management and reviews LiCo's international lithium and cobalt properties and
exploration programs. It can be read here,LiCo Feature in RGN . Mr. Fernback
states "Garnering interest from a quality publication like Resource Global
Network is further testament that we are onto something newsworthy at LiCo. By
having properties in both lithium and cobalt, we are a unique and true energy
metals company, focused on more than one metal involved in the clean energy
movement."
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck,
P.Geo., (LiCo's QP), and supervised by Dwayne Melrose, Director and Head of the
Technical Advisory Board of LiCo.
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 additional 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.
Phone: +1(236)-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Intersects 7.64 % Cobalt over 0.26m at Glencore Bucke Property
Vancouver, British Columbia --December 6, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to report assay results for
diamond drill holes GB17-08 to GB17-10 from the recently completed drill program
on the Glencore Bucke Property located 6 km northeast of Cobalt, Ontario. The
Company would also like to provide an update on the recently completed drilling
program and a brief analysis of what has been determined to date by the Company.
A summary of the most significant results of the recent drill core assays
are:
• GB17-10 0.55% Co over 5.00 m from 28.00 to 33.00 m.
• GB17-10 0.11% Co, 17.6 ppm Ag, 0.53% Cu from over 2.30 m from 81.0 to 83.3 m
As reported on the Company’s November 30th, 2017 news release, LiCo has recently
completed its 2017 diamond drilling program on its Teledyne and Glencore Bucke
Properties completing a total of 32 diamond drill holes, drilling 4,100 m of
core. This exploration work satisfies both its flow-through financing
obligations and the contractual obligations outlined in the recently acquired
Glencore Bucke Propertyfrom Glencore plc of Baar Switzerland (LSE: GLEN). The
overall drilling program
has confirmed and extended the cobalt mineralization on each property and these
results are consistent with historical grades and widths in the overall Cobalt
Camp. As reported previously, visual cobalt camp style mineralization has been
noted in every drill hole that the Company has logged to date.
On the Glencore Bucke Property, the Company has completed a total of 21 diamond
drill holes totaling 1,900 m, testing the Main and Northwest zones. Additional
base metal mineralization within and proximal to the cobalt mineralization has
also been intersected throughout the drill program. On the Company’s adjoining
Teledyne Property, a total of 2,200 m has been completed in 11 diamond drill
holes and the drill program is now complete. The analytical results for the
Teledyne program have started to be received and reported by the Company.
Tim Fernback, President & CEO of LiCo states that, “We have been extremely
pleased with our results to date and the exceptional work of our drilling team
in Ontario. In this industry, it is very rare to design an exploration program
and to find exactly what you are looking for at depth. So far, the results we
are
getting back from the assay lab are confirming the historic drill results and
fit the model that we are predicting to be at depth. We are excited about
getting the remaining results back from the lab, and to design our follow-up
exploration program for 2018. With any luck, we will be closer to realizing our
corporate goal of putting this property into production with a great JV partner
like Glencore.”
Additional base metal mineralization within and proximal to the cobalt
mineralization has also been intersected throughout the drill program at the
Glencore Bucke property, which LiCo finds encouraging as it has not been
properly evaluated in the past for its full potential as accessory
mineralization. “It is very encouraging that the Glencore Bucke Property has
continued to provide good grades and width of cobalt mineralization based on the
results that have been released to date” commented Dwayne Melrose, Director and
Technical Advisor of LiCo. Mr. Melrose further explains, “Conceptually, having
strong copper results could be significant to the overall economics of any
potential mining operation. Copper is often associated with cobalt deposits
globally. If you combine the additional value that copper mineralization may add
to the value of the cobalt mineralization, it could increase the overall
attractiveness of this group of properties which is important to both LiCo and
any future strategic partner.”
The results for diamond drill holes GB17-08 through to GB17-10 are summarized in
Table 1 below.
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck,
P.Geo., (LiCo’s QP), and supervised by 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 through
financing and work commitments for the Glencore Bucke and Teledyne Properties.
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.
Contact:
Phone : +1(236) 521-0207
LiCoEnergyMetals.comPhone: (236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Intersects 3.92% Cobalt Over 0.75 m Teledyne Cobalt Property
Vancouver, British Columbia --Nov. 30, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to report assay results for
the first diamond drill hole completed on the Teledyne Cobalt Property, located
6 km northeast of Cobalt, Ontario.
A summary of the most significant results of the recent drill core assays are:
TE17-01 0.62% Co over 6.00 m from 136.00 to 142.00 m including 3.92% Co over
0.75 m from 140.25 to 141.00 m.
On the Teledyne Cobalt Property, the Company has completed a total of 11 diamond
drill holes totaling 2,200 m. The diamond drilling program has been completed,
and the drill rig will be demobilized this week.
The drilling has extended the cobalt mineralization on Property, with the grades
being consistent with the historical results.
Tim Fernback, President & CEO of LiCo, states "We are very happy with the
drilling results from our Teledyne and Glencore Bucke drilling programs. We set
a goal to replicate the historic results of cobalt grade and width of
mineralization, which we have accomplished in spectacular fashion. Yesterday we
announced an intersection of 7.64% Cobalt at Glencore Bucke, and today we have
assay results for 3.92% Cobalt at Teledyne. Now that the remaining drill core is
making its way to the assay lab, we are eagerly awaiting additional cobalt,
copper and silver results that can help us define the next stage of our
exploration program on both properties for 2018."
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck,
P.Geo., (LiCo's QP), and supervised by Dwayne Melrose, Director and Head of the
Technical Advisory Board of LiCo.
The overall drilling program has been conducted as part of LiCo's flow thru
financing and work commitments for the Glencore Bucke and Teledyne Properties.
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.
Contact:
Phone : +1(236) 521-0207
LiCoEnergyMetals.com
View original content:http://www.prnewswire.com/news-releases/lico-energy-metals----intersects-392-cobalt-over-075-m-teledyne-cobalt-property-300564163.html
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Intersects 7.64 % Cobalt over 0.26 m at Glencore Bucke Property
Vancouver, British Columbia --Nov. 29, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to report assay results for
diamond drill holes GB17‐06 to GB17‐07 from the recently completed drill program
on the Glencore Bucke Property located 6km northeast of Cobalt, Ontario and
provides a drilling update.
“We are very pleased with the higher-grade cobalt mineralization that has been
intersected at our Glencore Bucke property” says Tim Fernback, President & CEO
of LiCo and “not only have we intersected cobalt style mineralization in every
drill hole completed, we are happy to report that 4 of the 7 holes assayed to
date have higher than average grades of more than 1% cobalt. We are also finding
very good silver and copper results in our assays which is equally exciting. So
far, we have drilled a combined 3,728 m with 30 drill holes on our Glencore and
Teledyne Ontario properties as part of our 2017 flow-through work program.
A summary of the most significant results of the recent drill core assays are:
• GB17-07 1.11% Co, 16.6 ppm Ag over 2.0 m, incl. 7.64% Co, 9.1 ppm Ag over
0.26 m
• GB17-06 4.45% Co, 34.2 ppm Ag over 0.30 m from 44.40 to 44.70 m
• GB17-06 0.25% Co over 1.75 m, incl. 0.58% Co, 28.9 ppm Ag over 0.5 m
On the Glencore Bucke Property, the Company has completed a total of 21 diamond
drill holes totaling 1,900 m, testing the Main and Northwest zones. The drilling
has confirmed and extended the cobalt mineralization on the property and which
are consistent with historical grades and widths in the overall Cobalt Camp.
Visual cobalt camp style mineralization has been noted in every drill hole that
the Company has logged to date. The drill program has been completed as planned.
The drill program was designed to provide the company with sufficient drill hole
information to create a geological model and a 43‐101 complaint resource
estimate.
The results for diamond drill holes GB17-06 and GB17-07 are summarized in Table
1 below.
DDH |
From (m) |
To (m) |
Core Length (m) |
Co (%) |
Ag (ppm) |
Cu (ppm) |
Zn (ppm) |
Pb (ppm) |
GB17-06 |
22.5 |
24.25 |
1.75 |
0.25 |
12 |
288 |
132 |
6 |
Incl. |
23.25 |
23.75 |
0.5 |
0.58 |
28.9 |
714 |
39 |
6 |
GB17-06 |
29 |
29.5 |
0.5 |
0.34 |
0.6 |
44 |
32 |
2 |
Incl. |
29.25 |
29.5 |
0.25 |
0.60 |
1 |
84 |
31 |
2 |
GB17-06 |
30.5 |
30.75 |
0.25 |
0.53 |
0.5 |
4 |
38 |
2 |
GB17-06 |
44.4 |
44.7 |
0.3 |
4.45 |
34.2 |
460 |
2600 |
159 |
GB17-06 |
45.75 |
48.6 |
2.85 |
0.02 |
53.7 |
1798 |
393 |
829 |
Incl. |
45.75 |
47 |
1.25 |
0.03 |
109.9 |
3344 |
801 |
1558 |
GB17-07 |
40.5 |
46.2 |
5.7 |
0.00 |
2.9 |
1640 |
18 |
44 |
GB17-07 |
81.25 |
83.4 |
2.15 |
0.00 |
11.5 |
2313 |
111 |
641 |
GB17-07 |
98.5 |
100.5 |
2 |
1.11 |
16.6 |
971 |
82 |
103 |
Incl. |
99.79 |
100.05 |
0.26 |
7.64 |
9.1 |
441 |
44 |
16 |
Note: Intervals reported in Table 1 represent core lengths and not true widths.
On the Company’s adjoining Teledyne Property, a total of 1,828 m has been
completed in 9 diamond drill holes. Drilling has intersected Cobalt camp style
mineralization in each drill hole that has been logged to date. Diamond drilling
is expected to continue testing the planned targets throughout the remainder of
November.
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck,
P.Geo., (LiCo’s QP), and supervised by 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.
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.
Phone: (236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Receives $600,000 From Exercise of Warrants
Vancouver, British Columbia --Nov. 22, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to provide an update on its
non-brokered private placement offering of up to $960,000 previously announced
on October 24, 2017. The private placement details and subscription agreements
will now be available to investors on the Stockhouse Deal Room (Stockhouse Deal
Room).
The private placement consists of up to 8,000,000 flow-through units ("FT
Units") and up to 4,000,000 non flow-through units ("Units") both at a price of
$0.08 per FT Unit and $0.08 per Unit. Each FT Unit and Unit is comprised of one
common share of the Company and one share purchase warrant. Each share purchase
warrant will entitle the holder thereof to purchase one additional common share
of the Company at an exercise price of $0.10 per share, for a period of two
years from closing, subject to TSX Venture Exchange ("Exchange") approval.
The Company also announces that in the previous two weeks, it has received total
funds of $600,000 by way of exercise of 8,000,000 share purchase warrants at
$0.075 per share.
The Stockhouse Deal Room is an equity investment platform created specifically
for public companies to access investors. Stockhouse has more than 1 million
unique visitors a month and provides access to a large number of qualified and
accredited investors. The private placement offering of FT Units and Units is
available at the Stockhouse Deal Room and LiCo Energy Metals Private Placement.
Subscription agreements can be completed in full through the Stockhouse Deal
Room or are available directly from the Company to Accredited Investors. The
minimum subscription is $5,000 and the Company intends to close all
subscriptions by November 30, 2017.
Finder's fees will be paid in connection with the private placement and all
finder's fee payable are subject to Exchange approval.
The proceeds from the FT Units will be used to advance the Company's Teledyne
and Glencore Bucke Properties, in Cobalt Ontario. The proceeds from the Units
will be used for advancement and development of the Company's other mineral
exploration projects and for general working capital purposes.
All securities issued in connection with the private placement are subject to a
four month and a day hold period in accordance with applicable Securities Laws.
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.
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.
Phone: (236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
DRILLING UPDATE – ONTARIO COBALT EXPLORATION PROGRAM ON LICO’S GLENCORE AND TELEDYNE PROPERTIES
Vancouver, British Columbia --Nov. 15, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") 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 27 diamond drill holes for a
combined depth of approximately 3,106 meters on its two cobalt mineral
exploration properties in Ontario. The current drill program is designed to
confirm and extend the existing known mineralization and to provide the company
with sufficient drill hole information to create a geological model and a 43-101
complaint resource estimate.
On the Glencore Bucke Property, the Company has completed a total of 21 diamond
drill holes totaling 1,900 m, testing the Main and Northwest zones. Visual
cobalt camp style mineralization has been noted in every drill hole that the
Company has
logged to date. The drill program has been completed as planned, and the drill
rig was demobilized earlier in the week. Historical drilling completed on the
Glencore Bucke Property 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 total of 1,206 m has been
completed in 6 diamond drill holes. Drilling has intersected Cobalt camp style
mineralization in each drill hole that has been logged to date. Diamond drilling
is expected to continue testing targets identified by management throughout the
month of November and early December.
“We are exceptionally pleased with the exploration program to date”, says Tim
Fernback, President & CEO of LiCo and “we look forward to the assay results that
will be released over the next 30-45 days”.
The results for the first five holes were summarized on the news released on
November 8, 2017 and additional assay results will arrive throughout the month
of November and December.
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck,
P.Geo., (LiCo’s QP), and supervised by 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.
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.
Phone : +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Intersects Good Grade Cobalt Mineralization at Glencore Bucke Property
Vancouver, British Columbia --Nov. 8, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo")is pleased to report the assay results
for the first five diamond drill holes (GB17-01 to GB17-05) from the on-going
drill program on the Glencore Bucke Property located 6km northeast of Cobalt,
Ontario.
"We are exceptionally pleased with the grade and the widths of the cobalt
mineralization that has been intersected", says Tim Fernback, President & CEO of
LiCo and, "the drill program has been successful as cobalt mineralization has
been intersected in every hole".
The most significant results are as follows:
GB17-01 - 0.31% Co over 3.0 m from 18.0 to 21 .0 m, incl. 0.71 % Co over 1.13 m
GB17-04 - 1.6% Co over 0.5 m from 16.25 to 16.75 m, incl. 3,11% Co, 0.17% Cu,
0.69% Zn over 0.25 m
GB17-03 - 0.27% Co over 1.75 m from 27.15 to 28.9 m, incl. 0.44% Co over 0.75 m
GB17-03 - 0.39% Co over 0.25 m from 31.25 to 31.5 m
GB17-02 - 0.42% Co,0.2% Cu,2.2% Pb over 0.3 m from 39.37 to 39.67 m
GB17-03 - 1.02% Cu, 294 ppm, Co, 12 ppm Ag, 204 ppm Zn, 689 ppm Pb over 2.5 m
The results for the first five holes are summarized in Table 1 below. To date, a
total of 19 diamond drill holes totaling 1,565 m have been completed on the
Glencore Bucke Property, testing the Northwest and Main Zones. The drilling has
confirmed and extended the cobalt mineralization on the property and which are
consistent with historical grades and widths in the overall Cobalt Camp. The
second drill testing the Teledyne property has completed 4 holes for 804 metres
to date. The drill program is designed to provide the company with sufficient
drill hole information to create a geological model and a 43-101 complaint
resource estimate.
"It is significant that the drilling has confirmed the historical cobalt style
mineralization in both grade and widths which was historically mined by other
companies within the Cobalt Camp" commented Dwayne Melrose, Technical Advisor
for LiCo. "As the cobalt and associated (copper, silver, lead and zinc)
mineralization that was intersected is close to surface, this could potentially
make the property attractive for a future toll milling scenario".
QA/QC Program
LiCo Energy Metals Inc. has implemented a quality assurance/quality control
(QA/QC) program for both the Glencore Bucke and Teledyne Property drill
programs.
Diamond drill core was logged, then sawed in half, with one half placed in a
labelled bag, and the remaining half placed back into the core box and stored in
a secured compound. Either a standard or a blank was inserted every 20 sample.
All samples were shipped to Activation Laboratories in Ancaster, Ontario. Each
sample is coarsely crushed and a 250 g aliquot is pulverized for analysis. From
here, 0.5 g of the sample is digested with aqua regia for 2 hours at 95 °C. The
sample is cooled and then diluted with deionized water. The sample is then
analyzed using an Agilent 700 series ICP for the 38 element suite. QC for the
digestion is 15% for each batch, 2 method reagent blanks, 6 in-house controls, 8
sample duplicates and 5 certified reference materials. An additional 20% QC is
performed as part of the instrumental analysis to ensure quality in the areas of
instrumental drift. If over limits for Cu, Pb, Zn, and Co are encountered, a
sodium peroxide fusion, acid dissolution followed by ICP-OES is completed. For
Ag over limits, a four acid digestion is completed followed by ICP-OES.
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck,
P.Geo., (LiCo's QP), and supervised by 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.
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.
Phone : +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Surpasses a 2,000 Metre Milestone for its Cobalt Drilling
Program on the Teledyne and Glencore Bucke Properties
Vancouver, British Columbia --Nov. 1, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") 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.
http://mma.prnewswire.com/media/551815/LiCo_Teledyne_property.jpg
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.
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.
Contact:
Phone : (236) 521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals - Second Drill Rig Mobilized - Drilling Continues On Its Two Cobalt Properties (Teledyne and Glencore Bucke) Near Cobalt Ontario.
Vancouver, British Columbia --October 25, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") 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
eastnortheast of Cobalt, Ontario, as originally announced on September 12th,
2017.
The Company has now completed a total of 12 holes for 1,010 metres testing the
Main and Northwest zones on the Glencore Bucke Property. Cobalt camp style
ineralization has visually 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).
Building on what can be described as a successful start to its exploration
program, the Company has decided to add a second drill rig to fast forward the
overall exploration program. Furthermore, late last week the Company begun the
preparation of the Teledyne property for drilling its initial drill targets. As
of Sunday October 22, 2017, this added drill rig commenced drilling on the
Teledyne Property. The first drill hole testing the cobalt/silver targets of the
Teledyne property that were previously identified by Teledyne Canada Ltd., that
are considered to be extensions from the past producing Agaunico Mine. Tim
Fernback, President & CEO of LiCo, states “We are still encouraged with the
visual results that have
been noted in the drill core to date and also excited with the second drill rig
has now started to test the Teledyne Property. The core samples from the initial
drill holes have recently been sent to the laboratory for analysis and LiCo is
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.
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.
Contact:
Phone : +1(236)-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
________________________
Recent LiCo Energy News:
LiCo Energy Metals - Second Drill Rig Planned - Drilling Its Two Cobalt Properties (Teledyne and Glencore Bucke) Near Cobalt Ontario
Vancouver, British Columbia --October 18, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") 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.
https://mma.prnewswire.com/media/585789/LiCo_Energy_Metals_Inc_Infographic.jpg
The Company has completed a total of 10 holes for 775 metres testing the Main
and Northwest zones on the Glencore Bucke property. Cobalt camp style
mineralization has visually 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).
The Company is adding additional meterage to the diamond drilling programs than
what was originally planned for the Glencore Bucke and Teledyne Properties. LiCo
is expecting the drilling contractor to provide a second diamond drill rig later
this week. The current drill rig 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.
Tim Fernback, President & CEO of LiCo, stated, "we are encouraged with the
visual results that have been noted in the drill core to date. Based on the
visual results, LiCo has decided to increase the overall planned drill program
in the area. The samples from the initial drill holes have recently been sent to
the laboratory for analysis and LiCo is anxiously waiting to receive the
results."
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 goal of this current drilling program
will be to confirm the results of historical drilling on the properties and to
further expand the resource potential up and down dip and along strike," stated
Mr. Melrose.
Historically, Teledyne Canada Ltd. completed 36 diamond drill holes totaling
3,323.3 m on the Glencore Bucke Property, and a combined 28 surface and
underground diamond drill holes totaling 3,160.8 m on the Teledyne Property.
Diamond drilling completed by Teledyne Canada Ltd. on the Glencore Bucke
Property delineated two zones of mineralization measuring approximately 150 m
and 70 m in length. The most significant results include 2.12% Co over 1.01 m in
diamond drill hole T-18, 0.62% Co over 2.74 m in diamond drill hole T-23, 0.66%
Co over 0.73 m, 1.68% Co over 0.46 m in diamond drill hole T-30, and 0.36% Co,
41 oz/t Ag over 0.58 m in diamond drill hole T-37 (Bresee, 1982).
Diamond drilling by Teledyne Canada Ltd. on the Teledyne Property encountered
two zones of cobalt/silver mineralization extending onto the Property from the
Agaunico Mine located to the north. Historically, the Agaunico Mine produced
4,350,000 lbs. of cobalt and 980,000 oz. of silver during the mining boom of the
early 1900's (Cunningham-Dunlop, 1979). A total of 6 surface drill holes
followed by 22 underground diamond drill holes totaling 1,879.7 m was completed
by Teledyne Canada Ltd. Both the surface and underground drilling programs
indicated the presence of significant cobalt mineralization extending from the
past-producing Agaunico Mine onto the Teledyne Cobalt Property for a strike
length of 152.4 m. In addition, the drill program encountered a second zone with
a strike length of 137.2 m. The most significant results included 0.644% Co over
16.9 m in diamond drill hole UT-2, 0.74% Co over 8.7 m in diamond drill hole
UT-3, and 2.59% Co over 2.4 m in diamond drill hole UT-18 (Bresee, 1981). The
historical reported intersections represent core lengths, and not true widths.
The drilling will be conducted as part of LiCo's flow thru financing and work
commitments for the Glencore Bucke Property.
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.
Contact:
Phone : +1(236)-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
Letter From the President of LiCo Energy Metals Inc.
Vancouver, British Columbia --October 5, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") President and CEO Tim Fernback
updates shareholders, partners and employees on company activities.
To Our Shareholders, Partners and Employees;
This year was a big year for our company. We added several new faces to the LiCo
Board of Directors, notably Mr. Dwayne Melrose and Mr. Greg Reimer. Dwayne and
Greg are seasoned senior executives working for some of the largest companies in
their respective industries, mining and energy.
In January, Dwayne joined our team. Dwayne is not only a LiCo Director but also
is the Chair of the Company's Technical Advisory Board. In addition to being a
seasoned Director of a public mining company, Dwayne has over 30 years'
experience in the mining industry where he has been very successful in advancing
three significant exploration projects towards production. Under his leadership
as President/CEO of True Gold Mining Inc., True Gold progressed from an
exploration company into a fully permitted and financed company in mine
construction in just over 3 years.
Greg joined us first as Corporate Advisor in June, and then was recruited to the
Board of Directors a couple months later in August. Greg is the former Executive
Vice-President (EVP) of BC Hydro's Transmission & Distribution business group,
and held the EVP until recently leaving BC Hydro to pursue work in the green
energy field. At BC Hydro, Greg was responsible for approximately 2,300
employees who plan, design, build, operate and maintain the systems and assets
needed to deliver electricity safely and reliably to BC Hydro's four million
customers. In total, Greg was accountable for $580M in
annual capital investments in transmission and distribution infrastructure, and
$325M in annual operating and maintenance expenditures. In his senior executive
capacity, Greg brings a wealth of operational experience and strong leadership
ability.
We added two significant assets to our mining exploration portfolio in 2017.
In January, we also signed an agreement to acquire a majority interest in the
Purickuta Lithium Project located in the Salar de Atacama in Chile, the world's
most productive lithium brine with over 37% of the world's lithium being
produced by only two active producers in the region, lithium giants SQM and
Albermarle/Rockwood.
As an update on the Purickuta Lithium Project, we have recently paused our
exploration program as we look at ways to better work alongside the local
community in the development of this resource. It is a good thing that we have
added Greg Reimer to the board, because he has decades of experience negotiating
and working with first nations groups at BC Hydro and as the former Deputy
Minister of Energy Mines and Petroleum Resources for the Province of British
Columbia Canada. He will be invaluable as we engage the local community. Our
agreement with the property vendor and our Chilean partner, Durus Copper, has
been extended accordingly and management believes that we will be drilling in
the near future to prove up this lithium brine resource potential. As this
program is paused, we are continuing to evaluate other world-class lithium
assets in the region.
More recently, in September, we acquired a cobalt mining claim from Glencore
plc, one of the world's largest miners of cobalt. The Purchase Agreement
includes a back-in provision, production royalty and an off-take agreement in
favor of Glencore. If all goes as planned, and we have the in-situ value of $100
million, Glencore has the option to pay us three times our exploration costs to
exercise the back-in option. With the offtake agreement, we could be selling all
our cobalt produced back to Glencore in the future. It is a property sale, but
we have also found a significant future customer which is a huge benefit to LiCo
shareholders. This property in the historic cobalt mining region of Cobalt,
Ontario Canada, which is not only in an extremely mining-friendly jurisdiction
but directly adjoins and complements our current 11 claims on our Teledyne
Cobalt exploration property.
Even though we have just acquired the Glencore property, we began the drilling
on both our Glencore and Teledyne Cobalt Properties starting in September and
plan to continue drilling into the winter. As of the date of this letter, we
have diamond drilled three holes on the Glencore Bucke Property for a total of
200m. This is the beginning of a series of 60-90 m holes that we have
prioritized for exploration, and our plan here is to drill another 16-20 holes
on this newly acquired property from Glencore. Immediately after this, we will
move the drill rigs next door to our adjoining Teleydne property, where we plan
to drill several deeper holes at depth of close to 200m each. In total, we plan
to drill a minimum of 1,500 m and it could be up to 3,000 m+ depending on the
results. So far, the initial drilling program has gone to plan with no delays or
snags, and the early drill core logged shows visual mineralization, which is
what we like to see. This drill program should last until the later part of
November.
Management believes that these two property acquisitions are of high quality and
with some additional exploration, they will allow us to define a resource in
both lithium and cobalt. To this end, we are continuing to carry out exploration
programs in each region of the world.
You may ask at this point, why lithium and why cobalt?? The simple answer -
there is currently 113 lbs of Lithium and 51 lbs of Cobalt in a Tesla Model S.
Of course, lithium and cobalt are used for other industrial and manufacturing
purposes, but they are an essential component in a lithium ion rechargeable
battery, used in all sorts of desirable consumer items such as cars, laptops,
cell phones, appliances, etc. Electric Vehicles are expected to drive a large
part of this increased metal demand (pun intended). Globally EVs are projected
to grow from a small number today to 140 million vehicles by the year 2035.
China plans to ban the sale and production of gas powered cars by the year 2040,
as it grapples with ways to improve overall air quality. Everyone heard that
during the Beijing Olympics in 2008, China restricted the operation of all
vehicles on certain days based on license plate number in an effort to improve
air quality during the games, but did you know that this past week, China has
halted every major construction project in an effort to improve air quality?
This is not just a China problem, but a global problem and it is only going to
get worse. This will certainly lead to rapid adoption of EVs, and with this, an
increased demand for these two metals that we at LiCo hold dear to us.
As you can see the future for lithium and cobalt is certainly bright. LiCo
management is extremely bullish on the future demand for these two commodities.
We plan to continue to explore our properties in Chile, Ontario and Nevada in
2018, but we also look to add new world-class mineral property assets to this
roster of great LiCo properties in the future.
Thank you for joining us on this journey, and we look forward to a great 2018.
Cheers,
Tim
Tim Fernback
President & CEO
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.
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.
Contact:
Phone: +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals Begins Drilling Its Two Cobalt Properties (Teledyne and Glencore Bucke) Near Cobalt Ontario
Vancouver, British Columbia --September 26, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to announce the commencement of its Phase 1
diamond drilling program on both 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 drill
program has commenced and the Company expects to drill upwards to a combined
3,500 m on the Glencore Bucke and Teledyne Properties. The drilling is being
conducted by an experienced diamond drill contractor, Chenier Drilling Services
Ltd.
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 goal of this drilling program will be
to confirm the results of historical drilling on the properties and to further
expand the resource potential up and down dip and along strike. Drilling will
commence on the Glencore Bucke Property for the initial 1,200 m of the drill
program. While we await assays, we will shift the drilling over to Teledyne to
complete five or six holes totaling 1,000 m” states Mr. Melrose.
Historically, Teledyne Canada Ltd. completed 36 diamond drill holes totaling
3,323.3 m on the GlencoreBucke Property, and a combined 28 surface and
underground diamond drill holes totaling 3,160.8 m on the Teledyne Property.
Diamond drilling completed by Teledyne Canada Ltd. on the Glencore Bucke
Property delineated two zones of mineralization measuring approximately 150 m
and 70 m in length. The most significant results include 2.12% Co over 1.01 m in
diamond drill hole T-18, 0.62% Co over 2.74 m in diamond drill hole T-23, 0.66%
Co over 0.73 m, 1.68% Co over 0.46 m in diamond drill hole T-30, and 0.36% Co,
41 oz/t Ag over 0.58 m in diamond drill hole T-37 (Bresee, 1982). The historical
reported intersections represent core lengths, and not true widths.
Based on the surface diamond drill program completed in 1981 by Teledyne Canada
Ltd, a historical resource of 75,000
tons at an average grade of 0.45% Co, 3.0 oz/t Ag was estimated (Linn, 1983).
The resource estimate is a historical estimate as defined by National Instrument
43-101. There was been no review of the methods and results of this historical
resource estimate by a Qualified Person. No attempt was made to reconcile the
historical resource calculations as reported by Teledyne Tungsten. LiCo is not
treating the historical resource estimate as a current mineral resource or
mineral reserve.
Diamond drilling by Teledyne Canada Ltd. on the Teledyne Cobalt Property
encountered two zones of cobalt/silver mineralization extending from the
boundary of mined zones at the Agaunico Mine in a north-south direction.
Historically, the Agaunico Mine produced 4,350,000 lbs. of cobalt and 980,000
oz. of silver during the mining boom of the early 1900’s (Cunningham-Dunlop,
1979). In 1979, Teledyne completed 6 surface diamond drill holes totaling
1,281.1 m. In 1980, Teledyne completed a 700 m long production decline designed
to reach the mineralization encountered in their recently completed surface
diamond drill program. A total of 22 underground diamond drill holes totaling
1,879.7 m were completed. Both the surface and underground drilling programs
indicated the presence of significant cobalt mineralization extending from the
past-producing Agaunico Mine onto the Teledyne Cobalt Property for a strike
length of 152.4 m. In addition, the drill program encountered a second zone with
a strike length of 137.2 m. The most significant results included 0.644% Co over
16.9 m in diamond drill hole UT-2, 0.74% Co over 8.7 m in diamond drill hole
UT-3, and 2.59% Co over 2.4 m in diamond drill hole UT-18 (Bresee, 1981). The
historical reported intersections represent core lengths, and not true widths.
Based on the surface and underground diamond drill programs completed between
1979 and 1981 by Teledyne Canada Ltd, a historical resource of 100,000 tons at
an average grade of 0.45% Co, 0.6 oz/t Ag was estimated (Linn, 1983). The
resource estimate is a historical estimate as defined by National Instrument
43-101. There was been no review of the methods and results of this historical
resource estimate by a Qualified Person. No attempt was made to reconcile the
historical resource calculations as reported by Teledyne Tungsten. LiCo is not
treating the historical resource estimate as a current mineral resource or
mineral reserve.
The drilling will be conducted as part of LiCo’s flow thru financing and work
commitments for the Glencore Bucke Property.
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
undivided100% 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.
Contact:
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone: +1(236)521-0207
LiCoEnergyMetals.com
Source: LiCo Energy Metals Inc.
LiCo Energy Metals Files Technical Report for Glencore Bucke Property, Cobalt Ontario
Vancouver, British Columbia --September 13, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to announce the filing of a technical
report entitledNI 43-101 Technical Report on the Glencore Bucke Property -
Larder Lake Mining Division, Northeastern Ontario" dated September 7, 2017 (the
"Report") for its Glencore Bucke Project located in Bucke Township, 6 km east
northeast of Cobalt, Ontario.
The Report has been prepared pursuant to National Instrument 43-101 and can be
found on SEDAR atwww.sedar.com.
About LiCo Energy Metals:
https://licoenergymetals.com/
LiCo Energy Metals Inc. is a well-funded 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. The Company currently maintains the following
portfolio of exploration properties:
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.
Teledyne Cobalt Project, Cobalt, Ontario: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 was located along
structures that extended southward onto property currently under option to LiCo
Energy Metals.
Purickuta Lithium Project, Chile: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 Jan2, 2017).
Dixie Valley Lithium Project, Nevada: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.
Black Rock Desert Lithium Project, Nevada:The Company has entered into an option
agreement whereby the Company may earn an undivided 70% interest, subject to a
3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project that
consists of 128 placer claims (2,560 acres/ 1,036 hectares) 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.
Contact:
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone: +1(236)521-0207
LiCoEnergyMetals.com
Source: LiCo Energy Metals Inc.
LiCo Energy Metals to Drill Ontario Cobalt Teledyne and Glencore Bucke
Properties
Vancouver, British Columbia --September 12, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to announce that it is planning to start a
Phase 1 diamond drilling on its Teledyne and Glencore Bucke cobalt properties
situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario. A minimum
1,500 m diamond drill program is planned to commence approximately on September
21st, 2017, by a reputable diamond drill contractor.
In 1981, Teledyne Canada Ltd. leased the Glencore Bucke Property from
Falconbridge Nickel Mines Ltd. as they recognized the exploration potential that
the Property had due the possible southern extension of the #3 vein located on
the Cobalt Contact Property to the north. In the same year, Teledyne completed
36 diamond drill holes totaling 3,323.3 m, and delineated two zones of
mineralization measure approximately 150 m and 70 m in length. The most
significant results include 2.12% Co over 1.01 m in diamond drill hole T-18,
0.62% Co over 2.74 m in diamond drill hole T-23, 0.66% Co over 0.73 m, 1.68% Co
over 0.46 m in diamond drill hole T-30, and 0.36% Co, 41 oz/t Ag over 0.58 m in
diamond drill hole T-37 (Bresee, 1982). The historical reported intersections
represent core lengths, and not true widths.
Initially, on the Glencore Bucke Property, the first few holes of the program
will be oriented to confirm results from historical drilling completed by
Teledyne Canada Ltd., and then followed by step out drill holes to expand the
mineralized zones.
Drilling is also planned for the adjacent Teledyne Cobalt Property where
historical drilling also encountered two zones of cobalt/silver mineralization
extending from the boundary of mined zones at the Agaunico Mine in a north-south
direction. Historically, the Agaunico Mine produced 4,350,000 lbs. of cobalt and
980,000 oz. of silver during the mining boom of the early 1900's
(Cunningham-Dunlop, 1979). In 1979, Teledyne completed 6 diamond drill holes
totaling 1,281.1 m. In 1980, Teledyne completed a 700 m long production decline
to reach the mineralization encountered in their recently completed surface
diamond drill program. A total of 22 underground diamond drill holes totaling
1,879.7 m were completed. Both the surface and underground drilling programs
indicated the presence of significant cobalt mineralization extending from the
past-producing Agaunico Mine onto the Teledyne Cobalt Property for a strike
length of 152.4 m. In addition, the drill program encountered a second zone with
a strike length of 137.2 m. The most significant results included 0.644% Co over
16.9 m in diamond drill hole UT-2, 0.74% Co over 8.7 m in diamond drill hole
UT-3, and 2.59% Co over 2.4 m in diamond drill hole UT-18 (Bresee, 1981). The
historical reported intersections represent core lengths, and not true widths.
Drilling on the Teledyne Cobalt Property will also be orientated to confirm
results from the historical drilling completed by Teledyne, and to expand the
mineralized zones. Several other underexplored structures present on the
Property will also be tested by diamond drilling.
The drilling will be conducted as part of LiCo's flow through financing.
"We are very excited and looking forward to the milestone event of the
commencement of the diamond drill program on these properties. Acquiring the
Glencore Bucke Property from Glencore and adding it to our land package
significantly adds more potential to LiCo's Cobalt properties," states Tim
Fernback, LiCo's President & CEO.
"With the combined land package and the historical results on both the Teledyne
and Glencore Bucke properties, it is going to be a very exciting drill program.
I am looking forward with great interest to seeing the results of the upcoming
drill programs scheduled for both the Teledyne and Glencore Bucke properties
this month," commented Mr. Dwayne Melrose, Director and Head of the Technical
Advisory Board of LiCo.
About LiCo Energy Metals:
LiCo Energy Metals Inc. is a well-funded 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. The Company currently maintains the following
portfolio of exploration properties:
Purickuta Lithium Project, Chile: 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 Jan2, 2017).
Glencore Bucke Cobalt Project, Cobalt, Ontario: The Company has an option to
earn 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 that covers the southern extension of the former producing 15
Vein on the past-producing Agaunico Mine Property.
Teledyne Cobalt Project, Cobalt, Ontario: 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 was located along
structures that extended southward onto property currently under option to LiCo
Energy Metals.
Dixie Valley Lithium Project, Nevada: 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.
Black Rock Desert Lithium Project, Nevada: The Company has entered into an
option agreement whereby the Company may earn an undivided 70% interest, subject
to a 3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project
that consists of 128 placer claims (2,560 acres/ 1,036 hectares) 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.
Contact:
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone: +1(236)521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals to Acquire Ontario Cobalt Property from Glencore plc
Vancouver, British Columbia --September 5, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to announce that it has entered into a
property Purchase Agreement effective August 31st, 2017 with Glencore Canada
Corporation (subsidiary of Glencore plc) ("Glencore") of Baar Switzerland, (LSE:
GLEN) to acquire a 100% interest in mining rights patent #585 (the "Glencore
property") situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario.
The Purchase Agreement includes a back-in provision, production royalty and an
off-take agreement in favor of Glencore.
https://mma.prnewswire.com/media/551815/LiCo_Teledyne_property.jpg
Glencore is one of the world's largest producers of cobalt as a result of
by-products created from its copper assets in the DRC and nickel assets in
Australia, Canada and Norway.
"We are very excited to acquire this strategic Canadian property from Glencore.
The property is conveniently located adjacent to our current Teledyne Cobalt
property, and this purchase agreement allows LiCo to expand upon one of
Glencore's longstanding Canadian cobalt assets. If all goes as planned, we could
be selling all our cobalt produced back to Glencore in the future. It is a
property sale, but we have also found a significant future customer," states Tim
Fernback, LiCo's President & CEO.
Strategically, the Glencore property consists of 16.2 hectares and sits along
the west boundary of LiCo's Teledyne Cobalt Project that covers the southern
extension of the former producing 15 Vein on the past-producing Agaunico Mine
Property. Historically, the Agaunico Mine produced 4,350,000 lbs. of cobalt and
980,000 oz. of silver during the mining boom of the early 1900's
(Cunningham-Dunlop, 1979).
In the early 80's the Glencore property was explored by 36 surface diamond drill
holes totaling 3,323 m. The drilling program outlined two separate vein systems
hosting significant cobalt and silver values. The two zones are known as the
Main Zone, measuring 152.4 m in length, and the Northwest Zone, measuring 70.0 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 lease #585 (Bresee, 1982). Additional work was
recommended but never completed due to a downturn in cobalt prices at the time.
On LiCo's adjacent Teledyne property, historical drilling also encountered two
zones of cobalt/silver mineralization extending from the boundary of mined zones
at the Agaunico Mine in a north-south direction. In 1980, Teledyne completed a
700 m long production decline to reach the mineralization encountered in their
surface drill program. Both the surface and underground drilling programs
confirmed the extension of the Agaunico cobalt zones onto the Teledyne property
for a strike length of 152.4 m. In addition, the drill program encountered a
second zone with a strike length of 137.2 m. The most significant results
included 0.644% Co over 16.9 m, 0.74% Co over 8.7m, and 2.59% Co over 2.4 m (Bresee,
1981).
"We are delighted to add this Glencore property to our land position in Canada.
By adding drill indicated cobalt mineralization from the Glencore property with
similar mineralization as that found at our nearby Teledyne property, we have
greatly enhanced LiCo's potential for finding an economic cobalt deposit. I am
looking forward with great interest to seeing the results of the upcoming drill
programs scheduled for both the Glencore and Teledyne properties this fall,"
commented Mr. Dwayne Melrose, Director and Head of the Technical Advisory Board
of LiCo.
Terms of the Acquisition:
Purchase Price -The Purchaser shall pay to the Vendor the sum of $150,000 on the
Approval Date; and pay to the Vendor the sum of $350,000 within 6 months after
the date of the Agreement (the "Closing Date"). In addition, prior to the
Closing Date during the Acquisition Period, the Purchaser shall incur $250,000
in Exploration Expenditures on the Property.
Offtake Agreement - Prior to the commencement of Commercial Production, the
Purchaser shall enter into an off-take agreement with the Vendor for all ores
and/or concentrates produced from the Property and/or the Teledyne Property. The
off-take agreement shall be on such terms and conditions as are commercially
reasonable and at prevailing market prices;
Production Royalty - The Royalty will consist of a 3.5% of Net Smelter Return
calculated on a quarterly basis on all Products extracted from, processed and
sold that originate from mining operations on the Property from and after
Commercial Production. One-half (1/2) of the Royalty can be purchased for
$1,000,000 payable to the Vendor or its assignee;
Back-In Option – from and after the Closing Date, subject to Glencore or an
affiliate, determining that a discovery of one or more ore bodies having a
minimum aggregate in-situ value of $100M or more from which minerals can be
feasibly extracted, the Purchaser grants to the Vendor or its nominated
affiliate an irrevocable, sole and exclusive right and option to acquire from
the Purchaser a 51% interest in the Property and all Property Rights, free and
clear of all burdens of any nature or kind. Once the Back-in Option is exercised
a joint venture will be formed and a management committee established with
representatives of both companies.
About Glencore
Glencore plc is a leading integrated commodity producer and trader, operating
worldwide with diversified operations comprising around 150 mining and
metallurgical, oil production and agricultural assets. Glencore's industrial and
marketing activities are supported by a global network of more than 90 offices
located in over 50 countries where they employ around 155,000 people, including
contractors. Glencore trades in and distribute physical commodities sourced from
third party producers as well as their own production. The company also provide
financing, processing, storage, logistics and other services to commodity
producers and consumers.
About LiCo Energy Metals:
LiCo Energy Metals Inc. is a well-funded 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. The Company currently maintains the following
portfolio of exploration properties:
Purickuta Lithium Project, Chile: 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 Jan2, 2017).
Teledyne Cobalt Project, Cobalt, Ontario: 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.
Dixie Valley Lithium Project, Nevada: 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.
Black Rock Desert Lithium Project, Nevada: The Company has entered into an
option agreement whereby the Company may earn an undivided 70% interest, subject
to a 3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project
that consists of 128 placer claims (2,560 acres/ 1,036 hectares) 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.
Phone : (236) 521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
Greg Reimer - Current LiCo Advisory Board Member and Former Senior Executive from one of North America's Largest Electrical Utilities Joins the Board of LiCo Energy Metals
Vancouver, British Columbia --August 31, 2017 -- LiCo Energy Metals
Inc. (OTCQB: WCTXF)
(TSX-V: LIC)
("the Company" or "LiCo") is pleased to announce that effective today, Mr. Greg
Reimer has joined the LiCo Energy Metals Board of Directors.
Greg Reimer is the former Executive Vice-President (EVP) of BC Hydro's
Transmission & Distribution (T&D) business group, and held the EVP position from
June 2010 until recently leaving BC Hydro to pursue work in the green energy
field. In his senior executive capacity, Greg brings a wealth of operational
experience and strong leadership from over 26 years in the public sector.
At BC Hydro, Greg was responsible for approximately 2,300 employees who plan,
design, build, operate and maintain the systems and assets needed to deliver
electricity safely and reliably to BC Hydro's four million customers. In total,
Greg was accountable for $580M in annual capital investments in transmission and
distribution infrastructure, and $325M in annual operating and maintenance
expenditures. Greg also recently led a major strategic, multi-year
transformation of BC Hydro's T&D organization that is increasing operational
efficiency, improving safety performance, building a more reliable, modern
electricity grid to meet growing customer expectations. BC Hydro is Canada's
third largest electric utility with over $5.7 billion in annual revenues.
A Certified Public Accountant (CPA) by profession, Greg held a number of senior
leadership positions in in the public sector prior to joining BC Hydro,
including Deputy Minister of Provincial Revenue, Chair of the BC Oil and Gas
Commission and, Deputy Minister of Energy, Mines and Petroleum Resources. "I am
very excited to join the LiCo Board and have a much greater role in making LiCo
successful. Since joining LiCo's Advisory Board in June, I quickly realized what
a great company we have here. I am very grateful to the members of the current
LiCo Board for their vote of confidence."
Tim Fernback, President & CEO of LiCo Energy Metals, states "We are thrilled to
have such a high calibre Director join our Board at LiCo. Greg brings a
substantial wealth of experience, as well as practical mining industry
experience in his former role as British Columbia's Deputy Minister of Energy,
Mines and Petroleum Resources. Greg is clearly passionate about the evolution of
the global electric vehicle market and we are looking forward to his
contribution to our company."
Concurrent with this board appointment, Mr. James Hellwarth will be resigning
from the LiCo Board but will continue with the Company as a member of the
advisory board. LiCo is grateful for Mr. Hellwarth's valuable input and looks
forward to his continued contribution in his advisory role.
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.
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 world's 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 it 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 partners to negotiate a
production contract with CORFO concurrent 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).
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 was produced at the
Agaunico Mine located along structures that extended southward onto property
currently under option to LiCo Energy Metals.
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 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 70% interest, subject to a 3% Net Smelter Return Royalty, in the Black
Rock Desert Lithium Project that consists of 128 placer claims (2,560 acres/
1,036 hectares) in southwest Black Rock Desert, Washoe County, Nevada.
The Company is planning an exploration program for all its properties over the
next several months.
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 such as the
Company's ability to exercise the Options, 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.
Contact:
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone : +1-236-521-0207
LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
LiCo Energy Metals Announces Positive Results of Geophysical Survey, Salar de Atacama, Chile
Vancouver, British Columbia --July 5, 2017 -- LiCo Energy Metals Inc.
(OTCQB: WCTXF) (TSX-V:
LIC) ("the
Company" or "LiCo") is pleased to announce the positive results demonstrated in
the technical report on the TEM geophysical survey recently conducted over the
Purickuta Project located within the Salar de Atacama, Chile. The Transient
Electromagnetic Method (TEM) geophysical survey report (June, 2017) prepared by
Geodatos Chile states the following:
"Beneath the surface crust (up to 14m thick) is detected a conductive unit with
values of Resistivity less than 1 ohm-m, which are interpreted as brines,
divided into two sub units:
High conductivity saturated unit (0.4 and 0.9 ohm-m), the thickness of this
layer varies between 6.3m and 22m and;
Very high conductivity saturated unit (02 to 0.4 Ohm-m) this layer is detected
at two depths, the first under the saline crust, with thickness of 3 and 7m,
then again under the unit of high conductivity with a greater thickness of 100m,
not detecting the floor of this stratum," (meaning beyond the detective depth
capacity of the TEM survey).
Tim Fernback, President and CEO, comments: "These extremely positive results add
significantly to our belief in the commercial potential of the Purickuta
Project. In the lithium triangle of Chile, Argentina and Bolivia, similar
resistivity surveys consistently demonstrate that lithium brine-bearing aquifers
are directly related to a low-resistivity, high-conductivity horizon within the
salar. We found these positive geophysical characteristics over the entire
property. Coming up, we have a 300m-diamond drill hole test designed to
determine the lithium bearing capacity of the aquifer as outlined by Geodatos
and I look forward to announcing the results."
Salar de Atacama is considered to represent the planet's largest deposit of
economically recoverable Lithium and is very well known for its Lithium
production by LiCo's neighbors SQM and Rockwood/Albemarle.
The Company holds an option to acquire up to a 60% interest in the Purickuta
Exploitation concession (the "Property"). The technical content of this news
release has been reviewed and approved by Dwayne Melrose, Director and Qualified
Person.
About LiCo Energy Metals: https://licoenergymetals.com/.
LiCo Energy Metals Inc. is a well-funded, 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.
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 known 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 Jan2, 2017).
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.
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 70% interest, subject to a 3% Net Smelter Return Royalty, in the Black
Rock Desert Lithium Project that consists of 128 placer claims (2,560 acres/
1,036 hectares) in southwest Black Rock Desert, Washoe County, Nevada.
The Company is planning exploration programs for all its properties over the
next several months.
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 such as the
Company's ability to exercise the Option, 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.
Media Contact:
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone: (236)521-0207
http://www.LiCoEnergyMetals.com
SOURCE LiCo Energy Metals Inc.
-------------------------------------------------------------------
About LICO ENERGY METALS INC.:
LiCo Energy Metals is a grassroots Canadian company that conducts exploration
for metals used in the production of lithium-ion batteries. Exploration of these
metals has become critical in the face of surging demand for electric vehicles,
cell-phones, and many other modern devices. LiCo Energy Metals has four ongoing
projects in mining-friendly jurisdictions within Canada, United States, and
Chile.
LiCo Energy Metals has a growing portfolio of encouraging projects, all with
aims of developing battery-grade lithium or cobalt.
The world is currently experiencing a paradigm shift in the way it generates and
stores energy. Lithium-ion batteries are leading the race, and LiCo Energy
Metals has strategically placed itself to take part in this revolution.
LiCo Energy Metals is listed on the TSX Venture Exchange under the symbol LIC.V,
and listed on the OTCQB under the symbol WCTXF.
Corporate Philosophy
The world is currently experiencing a massive change in how we see and use
energy. Governments and leaders across the world are beginning to fully abandon
their support for fossil fuels, and leading financial institutions have divested
billions. It is becoming a norm across the globe to place importance on
sustainability in forms of emissions-free buildings, vehicles, processes, and
many other applications. Demand is increasing rapidly for the necessary
materials required to store and power clean energy.
LiCo Energy Metals has strategically positioned itself to take part in this
clean energy revolution. Our exploration efforts are focused on attaining the
necessary energy metals required for battery-based storage. Through key
properties located in Canada and the United States, LiCo Energy Metals will
explore properties that may contain sources of high-grade lithium and cobalt.
Our Mission
LiCo Energy Metals seeks to generate and develop energy metal projects that
accelerate our modern and environmentally conscious world. Through placing
importance on global sustainability, we strive to create shareholder value by
providing exposure to the green energy revolution taking place today.
OFFICERS AND DIRECTORS
TIM FERNBACK
PRESIDENT & CEO
Tim has held multiple senior executive positions, including oversight of the
Investment Banking and Corporate Finance Divisions at Wolverton Securities,
formerly Western Canada’s oldest brokerage firm. He was also responsible for the
consulting practice at Discovery Capital Corporation, a prominent British
Columbia venture capital firm that specializes in financing and consulting.
During his time at Wolverton Securities, Mr. Fernback was responsible for due
diligence reviews on corporate clients and investment banking business
development relationships. He planned and opened 3 regional offices in western
Canada and reviewed and analyzed over 300 corporate clients, raising over $750M.
Responsible for over 50 IPOs and over 100 Reverse-Mergers on the TMX and Nasdaq,
Mr. Fernback represented Wolverton nationally on various stock exchange
committees and industry groups, including the Corporate Finance Advisory Group
and Underwriting Groups on various Canadian exchanges.
Tim Fernback currently serves as a Director for several Canadian mining
companies. He holds an Honours B.Sc. from McMaster University, and is a graduate
of the Sauder School of Business at the University of British Columbia, where he
completed a MBA with a concentration in Finance. Tim Fernback holds a Certified
Professional Accounting Designation (CPA, CMA) and is an active member of many
industry and trade organizations in Vancouver.
DWAYNE MELROSE
DIRECTOR & TECHNICAL ADVISORY CHAIR
Mr. Melrose has over 30 years' experience in the mining industry where he has
been very successful in advancing three significant exploration projects towards
production. Under his leadership as President/CEO of True Gold Mining Inc., True
Gold progressed from an exploration company into a fully permitted and financed
company in mine construction in just over 3 years. Mr. Melrose was instrumental
in re-focusing the project from a high Capex project into a low Capex high
margin, heap leach project, in addition to the company completing over $200
million in equity and debt financing. Mr. Melrose spent over twenty years with
Cameco Corporation/Centerra Gold Inc. working in a variety of different
geographic locations and business environments (Canada, USA, Kyrgyzstan and
Kazakhstan). Here, Mr. Melrose was directly responsible for the exploration team
and its programs at the Kumtor Gold Mine where he significantly increased the
reserves and resources at the mine. Mr. Melrose joined the Minco Mining Group in
2007, where the company successfully progressed from exploration into
development stage and greatly increased in shareholder value. Mr. Melrose was
directly responsible for defining the Fuwan silver deposit (157 million ounces).
GREG REIMER
DIRECTOR
Greg Reimer is the former Executive Vice-President (EVP) of BC Hydro's
Transmission & Distribution (T&D) business group, and held the EVP position
since being appointed in June 2010. In this capacity he was responsible for the
planning, design, operation and maintenance of BC Hydro’s extensive transmission
and distribution network located within the province of British Columbia.
A Certified Public Accountant (CPA) by profession, Greg held a number of senior
leadership positions in the public sector prior to joining BC Hydro, including
Deputy Minister of Provincial Revenue, Chair of the BC Oil and Gas Commission
and, Deputy Minister of Energy, Mines and Petroleum Resources. Greg was also a
Director of the Integrated Land Management Bureau and a member of: the Deputy
Ministers' Council; the Deputy Ministers' Committee on First Nations
Reconciliation and Recognition; and the Deputy Ministers' Committee on Public
Service.
Greg is passionate about the evolution of the global electric vehicle market and
he brings a vast amount of experience to LiCo.
TINA WHYTE
CORPORATE SECRETARY
Tina Whyte brings over 20 years of experience in the corporate and securities
industry. Her expertise spans to areas of corporate governance, continuous
disclosure, financing transactions and regulatory filings and compliance. Ms.
Whyte holds corporate secretary positions with other publicly listed companies.
ROBERT GUANZON
CFO
Mr. Guanzon, CPA, CMA, has been in the field of accounting for more than 25
years. He has been involved in the financial reporting of junior mining
exploration companies, pharmaceutical manufacturing business, research &
development, real estate/property management, and project building construction.
Mr. Guanzon holds a Bachelor’s degree in Accounting, a Certified Public
Accountant (Philippines) and a member of Chartered Professional Accountants
British Columbia. He brings extensive experience in dealing with financial
matters and corporate strategy.
OUR PROJECTS
PURICKUTA EXPLOITATION PROJECT
The Purickuta Project consists of 160 hectares and is one of a few "exploitation
concessions" granted within the Salar de Atacama, home to approximately 37% of
the world's Lithium production. The property is contained within an existing
exploitation concession owned by Sociedad Quimica y Minera ("SQM"), and lies
approximately 3 km north of the exploitation concession of CORFO (the Chilean
Economic Development Agency). About 22 km southeast of the Purickuta Concession,
both SQM and Albemarle Corp. have large-scale production facilities within the
CORFO concession mentioned above. These two facilities collectively produce over
62,000 tonnes of Lithium Carbonate Equivalent annually and account for 100% of
Chile's current lithium output.
Salar de Atacama is a salt flat encompassing 3,000 km2, being about 100 km long
and 80 km wide. The salar possesses a very high grade of both lithium
(1,840mg/l) and potassium (22,630mg/l). It has a high rate of evaporation
(3,200mm per year) and extremely low annual rainfall (15mm average per year).
These characteristics make Atacama's finished lithium carbonate easier and
cheaper to produce than its peer group globally.
Chile's political, social, and economic macroclimate has been stable for
decades, making it one of South America’s most prosperous nations. Chile is also
home to many of the world’s largest and highest grade resources of lithium
making the
country
well positioned to be the price setter for lithium in both rising and falling
markets.
The Purickuta Project exhibits many highly desirable and key acquisition
attributes, including:
the appearance of both a low-cost resource definition opportunity and a near
term production opportunity;
the overall project size fits well within the capability of a junior company
seeking to quickly define reserves and establish production facilities;
the property is well situated within the Salar de Atacama, the highest-grade
lithium salar in the world;
within the Salar de Atacama, lithium brines exist within 140 feet of surface
resulting in low costs of exploration and extraction;
the Purickuta Concession lies relatively near existing pumping and solar
evaporation installations;
the Purickuta Concession is close to power, labour, communications,
transportation and other infrastructure.
DIXIE VALLEY EXPLORATION PROJECT
LiCo Energy Metals. has entered into an option to acquire 100%, net 3% smelter
royalty to acquire 348 claims in the Dixie Valley Exploration Project in
Churchill County, Nevada. Hot Springs and other active geothermal features are
found along a 30 km long fault system on the west side of Dixie Valley. The six
Dixie Valley claim blocks cover the majority of the Humboldt Salt Marsh playa
located in Dixie Valley, Churchill County, Nevada. There are 348 placer claims
in total, covering about 2,817 hectares (6,960 acres) of playa and alluvial fan.
Hot Springs and other active geothermal features are found along a 30 km long
fault system on the west side of Dixie Valley. Numerous geologic studies have
been conducted on the geothermal system during production drilling and as a test
case for geothermal exploration methods. Of seven characteristics of Lithium
Brine deposits outlined in the USGS deposit model, all seven are found in Dixie
Valley; however very little exploration work has been directed at lithium in
this area. The lithium target model for Dixie Valley is a Clayton Valley style
playa brine type deposit.
GEOLOGY
Dixie Valley is located in west central Nevada, about 160 km east northeast of
Reno. The entire basin is about 98 km long and up to 16 km wide. Humboldt Salt
Marsh, the central playa is about 10 km northeast – southwest and 6 km east –
west. The basin is bounded on the west by Stillwater range on the east by the
Clan Alpine Range.
The Stillwater and Clan Alpine Ranges are composed of thrust sheets of Triassic
and Jurassic age marine sedimentary rocks and Jurassic intrusive complexes that
were accreted to the North American continent during the Cretaceous. These rocks
have in turn been intruded by Cretaceous and Tertiary stocks and dikes and
covered by their volcanic equivalents. In the southern Stillwater Range, an
entire Tertiary caldera complex, including the sub-volcanic intrusive body is
exposed. At the end of the last ice age, water filled the central part of Dixie
Valley to a depth of about 70 meters. Radiocarbon dating of tufa in Dixie Valley
and adjacent valleys indicate high water stands at about 12,000 to 14,000 and
45,000 to 50,000 years ago. Hydrogen and oxygen isotope data indicates the vast
majority of the water in Dixie Valley is ice age in origin indicating very
little modern input into the basin.
These ranges are fault bounded, with the most movement along Stillwater Range
(west) side of the valley. Vertical displacement along this fault complex is at
least 3,000 meters as evidenced by volcanic rocks exposed near the top of range
also being found under 1,500 to 2,000 meters of post-volcanic valley fill. These
fault are still very active with earthquakes greater than magnitude 6 occurring
in 1915 and 1954.
In the area of the Humboldt Salt Marsh Playa, the valley appears to be about
2,000 meters deep, primarily filled with poorly sorted coarse conglomerate,
gravel, sand and silt with volcanic rocks, and tuff beds, and finer sediments in
the lower third of the section (Blackwell et al, 2014). Multiple governmental,
academic and industrial geophysical studies have been conducted in the valley to
help guide geothermal exploration in other basins. However, many of the
conclusions of these studies were shown to be incorrect by production drilling
so studies continue to find surface exploration methods that hold up better to
drill testing.
Dixie Valley is home to a large and long-lived geothermal system that is still
active. The Caithness Dixie Valley geothermal plant, about 18 km northeast of
the center of the playa, is currently producing about 66 megawatts of power. The
active geothermal system extends about 30 km roughly north – south along the
range front fault. The heat source appears to be simple very deep circulation
into the crust; it is not related to igneous activity.
TELEDYNE COBALT PROJECT
LiCo Energy Metals has entered into an option agreement to acquire up to a 100%
interest, 2% net smelter royalty of the Teledyne property. The property consists
of 5 mining claims and 6 staked crown claims in the Buck and Lorrain Townships,
located in the district of Temiskaming, Ontario. The project covers 115.5
hectares of mining and surface rights, with an additional 439.1 hectares of
staked crown claims. The property is easily accessible by highway and a well
maintained secondary road.
Over $25 million (inflation-adjusted) of past work has been already been
completed on the Teledyne Property. This work has resulted in valuable
infrastructure, which includes a development ramp and a modern adit going down
500 feet parallel to the vein.
The Teledyne property is located within a historic mining camp that dates back
to 1903. This was one of the world’s largest silver camps in the early 20 th
century. Historically, an estimated 18,000,000 kg of silver and 14,000,000 kg of
cobalt has been produced here. Even today, this remains a mining-friendly
community that packs a skilled workforce, along with other mining and
exploration services available locally.
The previous owner, Teledyne Canada Ltd., completed a diamond drilling program
consisting of 6 surface drill holes in 1979. Another 22 holes were drilled from
the underground to confirm the previous surface drilling in 1980. The initial
program supported a development ramp of 2,300 feet to reach the delineated
orezone, with the face of the ramp just 70 feet east of the orezone.
4 of the 6 surface drill holes intersected ore grade cobalt (>0.10% Co);
individual cobalt grades to 10.6%. Additionally, 18 of the 22 underground drill
holes intersected ore grade cobalt (>0.10% Co); individual cobalt grades to
10.2%. The average grade/core width from the 22 holes equalled 0.57% Cobalt/ 1.6
metres core width. This zone remains open to the south with a further 650 metres
of potential mineralized strike length on the Teledyne property, and represents
an excellent target for a future drilling campaign. Based on the 1979-1980
drilling results, probable and inferred reserves accessible from the current
ramp are estimated to be in excess of 100,000 tons at 0.45% Co.
BLACK ROCK DESERT LITHIUM PROJECT
LiCo Energy Metals has entered into an option agreement whereby the Company may
earn an undivided 70% interest subject to a 3% Net Smelter Return Royalty in the
existing Black Rock Desert Lithium Project that consists of 199 placer claims
(3,980 acres/1,610 hectares) in southwest Black Rock Desert, Washoe County,
Nevada. The Agreement is "non-arms’ length" and so constitutes a related party
transaction, as the Company’s President and CEO is also the President and CEO of
Nevada, and is subject to TSX Venture Exchange (the "Exchange") approval.
The western arm of the Black Rock Desert covers an area of about 2,000 square
kilometers and contains 5 of the 30 currently listed Known Geothermal Resource
Areas in Nevada. The Property covers an area of playa underlain by a moderately
deep basin interpreted from gravity and seismic surveys indicating a maximum
thickness of valley-fill deposits of about 1,200 m/3,600 ft. A high salt content
prevents any significant vegetation from growing on the playa surface. Locally,
the basin is being fed in part by boiling springs and siliceous sinter
containing strongly anomalous Lithium values (5mg/l) that flank the property on
the west side. (U.S. GEOLOGICAL SURVEY Open-File Report 81-918.) While these
lithium values are well below those of producing lithium brines, they do
represent a significant source of metal available for evaporative concentration
within the playa basin.
The geologic setting combined with the presence of lithium in both active
geothermal fluids and surface salts within the Black Rock Desert property match
characteristics of lithium brine deposits at Clayton Valley, Nevada and in South
America. Geothermal fluids adjoining the claims are known to contain anomalous
lithium values and a recently completed surface silt sampling program confirmed
values containing up to 520 ppm lithium. Although geological work has been
undertaken for geothermal energy production in the area, the lithium in brine
potential of the playa has not been specifically studied. Initially, the lithium
target in this basin was highly conceptual, however, recent exploration results
are highly encouraging and warrant a detailed exploration drilling for a Clayton
Valley type brine deposit.
SOURCE: http://licoenergymetals.com/