Demand for lithium is only expected to soar. In fact, according to Fairfield Market Research, the global lithium mining market could top $1 billion by 2025. All this as “lithium has been gaining traction in sectors such as battery technology, manufacturing of chemicals, ceramics, glass, lubricants and polymers. “Demand will also remain influenced by its growing consumption as an ideal material in industrial processes such as refrigeration, dehumidification and air treatment,” they noted. All of this is great news for companies like Q Battery Metals Corp. (CSE: QMET ) (OTC: BTKRF ), Albemarle Corporation (NYSE: ALB ), Lithium Americas (NYSE: LAC ) (TSX: LAC ), American Lithium Corp. ( NASDAQ: AMLI ) (TSXV: LI ) and Piedmont Lithium ( NASDAQ: PLL).
We must also remember that governments around the world are pushing for a greener future. The US only promised to cut emissions by up to 52%. Europe says it will cut emissions by up to 55%. China will stop emitting CO2 in the next 40 years. In doing so, they all want millions of electric vehicles on the roads. But to do that, you need more lithium. It is also the reason
major car companies, such as General Motors, are investing in lithium mines.
See Q Battery Metals Corp. (CSE: QMET ) (OTC: BTKRF ), for example
Q Battery Metals Corp. is currently in the process of refining targets for its La Corne South lithium project located north of Val d’Or, Quebec. In particular, the geological team will remodel the company’s 2021 drone-borne magnetic survey results and 2022 deep-penetrating electromagnetic survey results to better determine the presence of pegmatites on the property. Previous data interpretation has outlined high magnetic and conductive zones in search of massive sulfide deposits that have distinctly different geophysical characteristics than pegmatite bodies. The data will be re-modelled for geophysical attributes that better reflect the pegmatites.
Q Battery Metals is also preparing to complete the soil resistivity survey in the very interesting target area of the Boily Berubé ore which has been described as veins of white feldspar and quartz with molybdenite and bismuth. Lithium samples documented in the margins of the La Corne batholith often have associated molybdenum indicated in the mineralization summary. In addition, the North American lithium deposit is described as containing molybdenite and bismuthite. The presence of these elements in the mineral sample from Boily Berubé is now considered a good indicator of lithium. The QMET geological team is preparing to prospect, map and sample the Boily Berubé exposure and the margins of the La Corne batholith to analyze the lithium content. Reshaping of the current geophysical survey and proposed resistivity survey will help determine the location of lithium-bearing pegmatites in this region of the property.
Nine lithium projects are located within 20 kilometers (km) of the La Corne South project, including the North American Lithium Mine (NAL) (Sayona Mining-Piedmont lithium joint venture). The projects are located on the periphery of the La Corne granitic batholith, a highly prospective area for lithium pegmatite mineralization. Sayona has successfully produced its first marketable spodumene concentrate of 1,200 tonnes at 6% lithium grade (Sayona News Release dated March 8, 2023). Sayona has announced plans to continue drilling at both its NAL project and the adjacent Vallée Lithium property. More than 50,000 meters of drilling are planned (Sayona premiere on March 7, 2023).
CEO Richard Penn states that “after attending the PDAC and Swiss Mining Institute conferences, we now have an even greater appreciation of the lithium potential at the La Corne South project. Many other projects were summarized at these conferences of lithium. We believe we are in the right place at the right time with the La Corne South and Pegalith lithium projects, and we look forward to exploring and advancing both projects in 2023.”
Other related developments across markets include:
Albemarle Corporation announced plans to locate its previously announced Mega-Flex lithium hydroxide facility in Chester County, South Carolina. Plans for the facility include an initial investment of at least $1.3 billion to help meet growing domestic and international demand for electric vehicles and lithium-ion batteries. The term Mega-Flex refers to the facility’s ability to process various lithium feedstocks, including lithium from recycled batteries. Albemarle expects the facility to produce approximately 50,000 metric tons of battery-grade lithium hydroxide annually from multiple sources, with the potential to expand to 100,000 metric tons. Production at the facility would support the manufacture of about 2.4 million electric vehicles per year.
Lithium Americas began construction of its 100%-owned Thacker Pass lithium project in Humboldt County, Nevada, after receiving notice to proceed from the Bureau of Land Management. “Beginning construction is a momentous milestone for Thacker Pass and one we’ve been working toward for more than a decade,” said Jonathan Evans, president and CEO. “We are excited about the prospect of generating economic growth in Northern Nevada and playing an important role in the national lithium supply chain for electric vehicles.”
American Lithium Corp. announces that it has submitted an independent National Instrument 43-101 technical report on the preliminary economic evaluation for the Tonopah Lithium Claims project located in the Esmeralda lithium district northwest of Tonopah, Nevada. Highlights of the PEA were previously announced on February 1, 2023. DRA Global and Stantec Consulting Services Inc. they completed the PEA and accompanying technical report and demonstrate that the TLC project has the potential to become a substantial, long-life producer of -cost, high-purity lithium carbonate.
Piedmont Lithium, a leading global developer of lithium resources critical to the U.S. electric vehicle supply chain, announced that its jointly owned North American Lithium Project has successfully produced initial spodumene concentrate at as plans move forward to fully restart the Quebec operation. Approximately 70 metric tons of spodumene concentrate were produced as part of the commissioning with the first shipment of marketable product targeted for the third quarter of 2023. Patrick Brindle, executive vice president and chief operating officer of Piedmont Lithium, applauded progress towards large-scale production. “This initial production from NAL underscores the diligence and dedication of the management team to restart the mine and concentrator both on time and on budget. NAL is the most advanced lithium project in terms of development in the United States and Canada, and we expect the operation to provide the only significant source of new SC6 production in North America in the near term.”
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