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   Gold/Mining/EnergyRare Earth Elements and Exotic Metals


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To: LoneClone who wrote (15829)4/18/2019 1:51:44 PM
From: LoneClone
   of 17057
 
Advantage Lithium/Orocobre – WorleyParsons to complete Cauchari JV Pre-Feasibility Study

globenewswire.com

April 18, 2019 02:34 ET | Source: Orocobre Limited

BRISBANE, Australia, April 18, 2019 (GLOBE NEWSWIRE) -- Orocobre Limited (ASX: ORE, TSX: ORL) (“Orocobre” or “the Company”) wishes to advise that Advantage Lithium Corp. ("Advantage Lithium") (TSX V: AAL) (OTCQX: AVLIF) as operator of the Cauchari JV has announced the engagement of WorleyParsons Chile S.A. to complete the Pre-Feasibility Study (“PFS”) and independent NI 43-101 Technical Report on the Cauchari Lithium Project in Jujuy, Argentina. The PFS will evaluate processing options and complete a range analysis for up to 30 thousand tonnes per annum final lithium product, including lithium hydroxide, and is scheduled for completion in early Q3 CY19.

Advantage Lithium will continue to work with hydrogeology consultants FloSolutions to complete a dynamic groundwater model for the project, which will be used to simulate a range of production cases based on the recent significantly expanded resource ( see ASX Release dated 7 March 2019). This is a key input to the PFS in order to support a reserve estimate, extraction plan and determine the optimum project size.

Orocobre owns 33.5% of Advantage Lithium’s issued capital and 25% directly in the joint venture.

For more information please contact:

Andrew Barber
Investor Relations Manager
Orocobre Limited
T: +61 7 3871 3985
M: +61 418 783 701
E: abarber@orocobre.com
W: www.orocobre.com

https://twitter.com/OrocobreLimited
https://www.linkedin.com/company/orocobre-limited
https://www.facebook.com/OrocobreLimited/
https://www.instagram.com/orocobre/
https://www.youtube.com/channel/UCuLtQ_xM61u8EFUzUa8YG_Q

Click here to subscribe to the Orocobre e-Newsletter

About Orocobre Limited
Orocobre Limited (Orocobre) is a dynamic global lithium carbonate supplier and an established producer of boron. Orocobre is dual listed on the Australia and Toronto Stock Exchanges (ASX: ORE), (TSE: ORL). Orocobre’s operations include its Olaroz Lithium Facility in Northern Argentina, Borax Argentina, an established Argentine boron minerals and refined chemicals producer and a 33.5% interest in Advantage Lithium. For further information, please visit www.orocobre.com.




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To: LoneClone who wrote (15830)4/19/2019 9:27:48 AM
From: LoneClone
   of 17057
 
LME storage problems writ large in tiny tin market: Andy Home

reuters.com

Andy Home

LONDON (Reuters) - (The opinions expressed here are those of the author, a columnist for Reuters.)

Is the London Metal Exchange’s (LME) physical storage function in danger of slipping into the shadows?

That’s the question at the heart of the LME’s latest public discussion paper on its troublesome warehouse network.

It’s the seepage of aluminum into cheaper off-market “shadow LME” storage that has driven the debate.

But the LME might also care to look at its tin contract, where the process appears to be most advanced.

Exchange stocks are desperately low. Time-spreads are in near permanent backwardation.

London tin traders have learned to navigate the contract’s liquidity gaps in terms of physical settlement, although it’s getting harder judging by this week’s events.

But if, as the LME notes, “many market participants would welcome a higher-stock environment” as a way of boosting both transparency and liquidity, it might be worth asking someone in the tin industry.

ONE DAY’S SUPPLY

Tin’s a small market. Global usage in 2017 was 362,500 tonnes, most of it going into semi-conductor soldering, chemicals and plating, according to the International Tin Association.

But even against that yardstick, LME-registered tin stocks of 955 tonnes are extremely low, equivalent to just one day’s demand.

Depleted stocks have been a long-running theme on the LME tin market. Exchange inventory totaled 28,000 tonnes at the start of the decade but has since eroded almost completely.

A commodities text-book interpretation of that trend would be that tin is a market in long-term structural deficit.

Yet the price says otherwise.

LME three-month tin has both boomed and bust this decade, hitting a high of $33,600 per tonne in 2011 and a trough of $13,085 in 2016. It has more recently tracked a broad $18,000-22,000 sideways range, last trading around $20,300.

LME stocks have not told this fundamental story.

There’s no reason to think they are doing so now.

There’s always a way of “explaining” low LME tin stocks through a market prism such as the notoriously erratic shipments from Indonesia, the world’s largest tin exporter.

But the 8,000 tonnes of metal sitting in Shanghai Futures Exchange (ShFE) warehouses tell you there’s no acute global tin shortage right now.

Tightness on the LME, in other words, is primarily a function of the LME tin contract, particularly its chronically low stocks.

The tin industry, it seems, is not using the LME warehouse system to store its metal. Stocks may be sitting in what the exchange calls “shadow LME” storage, paying lower off-market rent but in or close to actual LME warehouses to facilitate warranting if required.

An added advantage of shadow warehousing is that premium brands of metal aren’t lost in the LME’s daily warrant churn, whereby what you sell one day is not necessarily what you get back the next.



CONGESTION ZONE

A cash premium, or backwardation, across the LME time-spreads can sometimes winkle out such “shadow” stocks.

Witness the 325 tonnes of tin that were warranted in Baltimore over the last month. LME-registered stocks in that location had been zero since 2014. But there is obviously tin being stored in the city.

That Baltimore metal was likely drawn into the LME system by the most recent time-spread gyrations.

Turbulence has been concentrated on cash-date trading, where low stocks are directly impacting price discovery.

The LME has a set of rules governing the behavior of what it terms “dominant longs”, entities with a sufficiently large position that they could squeeze the market. Whose position is dominant is measured against “live” LME stock in exchange warehouses. Which, in the case of tin, is hardly anything at all.

There were 10 “dominant” tin longs coming into last Monday’s April settlement date. Seven were holding positions in excess of 50 percent of LME stocks and therefore subject to lending caps.

The player holding in excess of 90 percent of stocks would have been required to lend metal for a day at no premium whatsoever.

However, the six entities holding between 50 and 80 percent of stocks would have been able to lend at up to 0.5 percent of the previous day’s cash price, or a little over $100 per tonne.

No surprise then that “tom-next”, the cost of rolling a short position overnight, traded out to precisely that level on Tuesday.

Such cash-date volatility is increasing as registered LME stocks shrink. “Tom-next” has hit $100 per tonne four times in the last month.

The exchange may have to rethink just how its lending guidance works when the metric used, LME stocks, is close to zero.

NO (QUICK) FIX?

It’s a little surprising that more tin hasn’t appeared in the LME system.

Then again, at just $80 per tonne the current cash premium over three-month metal is relatively mild by LME tin’s standards.

Backwardation has become hard-wired into the London contract, unlike Shanghai, where the forward curve is in contango.

Yet it is clear that the persistent backwardation hasn’t prevented the continuous slide in visible exchange stocks, perhaps another reason for revisiting the 20-year-old lending rules.

However, that would simply be managing the symptoms of the underlying problem of why storing surplus metal in the LME system is so out-of-fashion in the tin market.

It’s becoming less fashionable in other LME markets as well, hence the renewed public dialogue between exchange and participants about the warehouse system.

Many of the proposed changes are about how to stem the amount of metal leaving.

In that respect tin is already past the point of no return. The LME stocks have already largely gone. It’s how to encourage renewed usage of LME warranting that’s now required.

Colin Hamilton, analyst at BMO Capital Markets, is skeptical that the LME can find any quick fix to its logistics problems. That much should be clear from the title of his March 29 research note: “LME Warehousing - Looking Increasingly like a Lost Cause”.

“We don’t think the LME can do anything to effectively address the trend of storing material off-market, and believe base metals have to get used to a period of low warehouse inventories,” according to BMO.

Hamilton sees “greater potential” for steep curve backwardations and warns that “increased opacity is challenging from an analyst’s perspective and distorts long-term measures of inventory cover versus price”.

Which pretty nicely sums up the LME tin market at this moment in time.

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From: LoneClone4/20/2019 11:26:21 AM
   of 17057
 
[Lithium/Boron] Edited Transcript of ORE.AX earnings conference call or presentation 17-Apr-19 12:01am GMT

ca.finance.yahoo.com

Thomson Reuters StreetEventsApril 19, 2019

Q3 2019 Orocobre Ltd Earnings Call

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To: LoneClone who wrote (15832)4/23/2019 9:07:37 AM
From: LoneClone
   of 17057
 
Vanadium is so six months ago...


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To: LoneClone who wrote (15833)4/23/2019 10:08:45 AM
From: LoneClone
   of 17057
 
Vanadium One Reports an Indicated Resource of 113.5 Million Tonnes and an Inferred Resource of 520.5 Million Tonnes at Its Mont Sorcier Iron Project

accesswire.com

Tuesday, April 23, 2019 8:59 AM


TORONTO, ON / ACCESSWIRE / April 23, 2019 / Vanadium One Energy Corp. (the "Company") (TSX-V: VONE), is pleased to release its first NI 43-101 Mineral Resource Estimate (MRE) for its 100% owned Mont Sorcier Iron and Vanadium Project, near Chibougamau, Quebec. Total Indicated Resources are calculated to be 113.5 million tonnes in the ground, with the potential to produce 35 million tonnes of Concentrate grading 65.3% Fe and 0.6% Vanadium Pentoxide. Additional Inferred Resources are defined as 520.6 million tonnes, with the potential to produce 178.3 million tonnes of Concentrate grading at 64.4% Fe and 0.6% Vanadium Pentoxide.

The deposit has two major zones, known as the North Zone and the South Zone. The South Zone is estimated to host 113.5 million tonnes of Indicated Mineral Resources grading 30.9% Magnetite, with a potential to recover 35 million tonnes of concentrate grading 65.3% Fe and 0.6% Vanadium Pentoxide (V2O5), with low amounts of titanium (1.2% TiO2). The South Zone is estimated to hold an additional Inferred Mineral Resource of 144.6 million tonnes grading 24.9% Magnetite, with a potential to recover 36.1 million tonnes of concentrate grading 66.9% Fe, 0.5% Vanadium Pentoxide (V2O5) and 1.0% TiO2. The North Zone is estimated to hold additional Inferred Mineral Resources of 376 million tonnes grading 27.4% Magnetite, with a potential to recover 142.2 million tonnes of concentrate grading 63.7% Fe, 0.6% Vanadium Pentoxide (V2O5) and 1.8% TiO2. All concentrate grades are calculated from Davis Tube Testing (DTT) results.

The Company engaged CSA Global, an independent Geological and Mineral Estimation firm with headquarters in Australia, and offices in Canada, to undertake and complete the Mineral Resource Estimate for the Mont Sorcier deposit. See table 1 for summary results.

Table 1: Mineral Resource Estimate1 at Mont Sorcier Using a Cut-off Grade2 of 14% Fe.

Zone

Category4

Tonnage

Head grade

Grade in concentrate

Rock
(Mt)

Concentrate
(Mt)

Fe
(%)

Magnetite
(%)

Fe
(%)

V2O5
(%)

Al2O3
(%)

TiO2
(%)

MgO
(%)

SiO2
(%)

South

Indicated

113.5

35.0

22.7

30.9

65.3

0.6

0.3

1.2

3.8

2.8

Inferred

144.6

36.1

20.2

24.9

66.9

0.5

0.4

1.0

3.4

2.5

North

Inferred

376.0

142.2

27.4

37.8

63.7

0.6

1.0

1.8

3.5

4.2

Total

Indicated

113.5

35.0

22.7

30.9

65.3

0.6

0.3

1.2

3.8

2.8

Inferred

520.6

178.3

25.4

34.2

64.4

0.6

0.8

1.7

3.5

3.9

1 Numbers have been rounded to reflect the precision of Inferred and Indicated Mineral Resource estimates.

2 The reporting cut-off was calculated for a saleable magnetite concentrate containing 65% Fe with price of $US 90/t of dry concentrate, 50% of the price of V2O5 contained in the concentrate, a V2O5 price of $US 14/lb, a minimum of 0.2 % of V2O5 contained in the concentrate, an open pit mining operation, a cost of mining and milling ore of USD 13.80/t, a cost of transporting concentrate of USD 40/t; and a cost of tailing disposal of USD 1.5/t.

3 Vanadium One is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing or political factors that might materially affect these mineral resource estimates.

4 Resource classification, as defined by the Canadian Institute of Mining, Metallurgy and Petroleum in their document "CIM Definition Standards for Mineral Resources and Mineral Reserves" of May 10, 2014.

Martin Walter, CEO, said, "Our drilling campaign was obviously very successful as the program more than doubled the historical resources at Mont Sorcier. This was achieved through in-fill and deep extension drilling in the South Zone and deep drill holes to extend the even larger magnetite deposits within the North Zone. Now that we know we have a substantial resource at Mont Sorcier, the next phase of work will shift to studying Project economics. The Company plans to continue with its metallurgical evaluation, including optimization studies on the effects of grinding size on product recovery, and to concurrently begin working on a Preliminary Economic Assessment ("PEA"). We expect to publish the results of our PEA in the third quarter of 2019."

The Mont Sorcier Project is a bulk tonnage magnetite iron ore and vanadium deposit located near the northern Quebec mining town of Chibougamau. The project is comprised of 37 key mineral claims covering approximately 1,910 Ha (4,797.4 acres) and it has excellent infrastructure, including access to rail, airports, seaports and hydro-power. The Magnetite Fe bearing deposits at Mont Sorcier are unique, as they contain very low levels of the element Titanium, possibly rendering them as suitable feed for blast furnaces in the production of steel.

In order to complete its first mineral resource estimate, the Company drilled a total of 32 new holes across the project between July 2017 and December 2018. Drilling in the South Zone is at either 100 or 200 meter line spacing. Drilling located in the North Zone is approximately 500 meter line spacing. The North and South Zones are sub-vertical to steeply north or south-dipping. Campbell Chibougamau Mines Ltd drilled vertical holes that often started and ended in the iron formation. VONE drilled at 45° and 60° both north and south across the iron formation. It also often started and ended drill holes in the iron formation. The two sets of drill holes are complementary. Together, they support a more accurate geological model outlining the iron formation. Details about drill hole locations are found in previous News Releases and on our web site at www.vanadiumone.com.

The technical information contained in this news release has been reviewed and approved by Pierre-Jean Lafleur, P.Eng. (OIQ), who is a Qualified Person with respect to the Company’s Mont Sorcier Project as defined under National Instrument 43-101. The Mineral Resource Estimate (MRE) is the responsibility of CSA Global and Dr. Luke Longridge and Dr. Adrian Martinez, acting independently, are the Qualified Persons with respect to the MRE. CSA Global is finalising a Technical Report to comply with NI 43-101 in support of the MRE as disclosed in this News Release. It is expected that such a report will be filed within 45 days.

NOTE: CSA Global has carried out an independent Internal Peer Review by an experienced Resource Geologist. Mr. Aaron Meakin, of CSA Global, reviewed the methodology and checked to ensure that no critical errors have occurred. The reviewer takes note of a number of details including site visit, previous exploration activities or work, input data, database validation, QA/QC analysis, geological and mineralization interpretation and 3-D modelling, flagging and compositing the sample file, statistical analysis and high grade cuts, density analysis, variography, block model construction, grade interpolation, block model validation, Mineral Resource classification, Mineral Resource reporting and identified risks. All of these aspects have all been studied by the reviewer.

About Vanadium One Energy Corp.:

Vanadium One Energy Corp. is a mineral exploration company headquartered in Toronto, Canada. The Company is focused on advancing its Mont Sorcier Magnetite Iron Ore and Vanadium Project. The Mont Sorcier Project is a bulk tonnage magnetite iron ore and vanadium deposit, with very low titanium content, located near the northern Quebec mining town of Chibougamau, providing access to world class infrastructure including rail, shipping and power.

ON BEHALF OF THE BOARD OF DIRECTORS OF VANADIUM ONE ENERGY CORP.

Martin Walter, CEO
Tel: 416-599-8547

Rodney Ireland, Investor Relations
Tel: 416-599-8547

info@vanadiumone.com

www.vanadiumone.com

Cautionary Note Regarding Forward-Looking Statements:

Neither 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.

This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company's filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.

SOURCE: Vanadium One Energy Corp.

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To: LoneClone who wrote (15834)4/23/2019 10:11:28 AM
From: LoneClone
   of 17057
 
[Lithium]

Lake Resources NL (ASX:LKE) Foraco Drill Rig Commences Drilling at Cauchari

abnnewswire.net

WWW: www.lakeresources.com.au Company Overview

Brisbane, April 18, 2019 AEST (ABN Newswire) - Lake Resources NL ( ASX:LKE) ( FRA:LK1) is pleased to confirm that a second, larger diamond drill rig operated by Foraco Argentina SA has commenced drilling at Lake's 100% owned Cauchari Lithium Brine Project (Figure 1 in link below).

- Larger diamond drill rig has commenced drilling at Lake's Cauchari project with capability to drill up to 500 metres

- Two rigs now operating at Cauchari targeting various depths

- LKE now has greater certainty to produce assays from a ~350-450m deep target sand horizon

The larger more capable diamond drill rig is targeting a sand horizon estimated between 350-450 metres deep and will drill to 500 metres. Two rigs are now operational at Cauchari and reporting results from both drill holes is LKE's immediate priority.

Foraco is the third largest global mineral driller, operates in 22 countries and has a global fleet of drilling rigs with a well-trained international workforce and a proven track record.

Foraco's drilling program will occur concurrently with current rotary rig drilling operations. The rotary rig has drilled to a depth of 234m and is targeting a shallower sand horizon of between 300-350m.

Both Lake's rigs are operating ~500m from where Ganfeng/Lithium Americas is about to drill three new holes including one production hole on their adjacent leases. Lake is targeting exactly the same san horizons.

Lake's Managing Director Steve Promnitz said from site: "With one successful drill hole, we can demonstrate the extension of the adjoining resource which is the largest in the world and rapidly being developed into production next year. We have every confidence in Foraco's drilling capabilities and experience to produce the representative samples we need. It is inspirational to see 40 trucks operating next door with excavators building massive evaporation ponds and roads within sight of our drill rigs. Lake is drilling in a Grade A location for lithium brines."

To view tables and figures, please visit:
abnnewswire.net

About Lake Resources NL

Lake Resources NL ( ASX:LKE) is a lithium exploration and development company focused on developing its three lithium brine projects and hard rock project in Argentina, all owned 100%. The leases are in a prime location among the lithium sector's largest players within the Lithium Triangle, where half of the world's lithium is produced. Lake holds one of the largest lithium tenement packages in Argentina (~200,000Ha) secured in 2016 prior to a significant 'rush' by major companies. The large holdings provide the potential to provide consistent security of supply demanded by battery makers and electric vehicle manufacturers.

The Kachi project covers 69,000 ha over a salt lake south of FMC's lithium operation and near Albemarle's Antofalla project in Catamarca Province. Drilling at Kachi has confirmed a large lithium brine bearing basin over 20km long, 15km wide and 400m to 800m deep. Drilling over Kachi (currently 16 drill holes, 3100m) has produced a maiden indicated and inferred resource of 4.4 Mt LCE (Indicated 1.0Mt and Inferred 3.4Mt) within a 8-17 Mt LCE exploration target (refer ASX announcement 27 November 2018).

A direct extraction technique is being tested in partnership with Lilac Solutions, which has shown 80-90% recoveries and lithium brine concentrations in excess of 3000 mg/L lithium and is planned to be trialled on site in tandem with conventional methods as part of a PFS to follow the resource statement. Scope exists to unlock considerable value through partnerships and corporate deals in the near term.

The Olaroz-Cauchari and Paso brine projects are located adjacent to major world class brine projects either in production or being developed in the highly prospective Jujuy Province. The Olaroz-Cauchari project is located in the same basin as Orocobre's Olaroz lithium production and adjoins Ganfeng Lithium/Lithium Americas Cauchari project, with high grade lithium (600 mg/L) with high flow rates drilled immediately across the lease boundary.

Two drill rigs are currently drilling at Cauchari with results anticipated to extend the proven resources in adjoining properties into LKE's area with results anticipated from November into December 2018. This will be followed by drilling extensions to the Olaroz area in LKE's 100% owned Olaroz leases.

Significant corporate transactions continue in adjacent leases with development of Ganfeng Lithium/Lithium Americas Cauchari project with Ganfeng announcing a US$237 million for 37% of the Cauchari project previously held by SQM. Nearby projects of Lithium X were acquired via a takeover offer of C$265 million completed March 2018. The northern half of Galaxy's Sal de Vida resource was purchased for US$280 million by POSCO in June 2018. These transactions imply an acquisition cost of US$55-110 million per 1 million tonnes of lithium carbonate equivalent (LCE) in resources.

The demand for lithium continues to be strong for lithium ion batteries in electric vehicles, according to recent data from the leading independent battery minerals consultant, Benchmark Mineral Intelligence. Supply continues to be constrained suggesting good opportunities for upstream lithium companies.





Contact

Steve Promnitz
Managing Director
Lake Resources N.L.
T: +61-2-9188-7864
E: steve@lakeresources.com.au

Link: Foraco drill rig commences drilling at Cauchari






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To: LoneClone who wrote (15835)4/23/2019 10:14:20 AM
From: LoneClone
   of 17057
 
Graphite: Natural graphite project developments continue through Q2

roskill.com


Posted on 18th April 2019 in General News.

Companies developing natural graphite projects continue to make headway into Q2 2019 with most activity seen in Africa and North America.

On 11 April, Walkabout Resources announced that it had signed a binding offtake agreement for 10-30ktpy, through mineral traders Wogen, for graphite concentrate from its Lindi Jumbo project in Tanzania. Walkabout Resources had already signed a 10-20ktpy offtake on 2 April with the Chinese company Qianxin Graphite, based in Inner Mongolia. With planned capacity of 40kty, these agreements could be enough to cover 100% of the company’s production.

SRG Graphite has reported successful processing of 200t of ore as part of a pilot scheme at its Lola Graphite project in Republic of Guinea. A total of 12.8t of graphite flakes were produced with an average grade of 96.8% C and the company is now looking at offtake agreements for its material. SRG Graphite received an environmental conformity certificate for the Lola project earlier this month.

Meanwhile, in North America, Westwater Resources

announced positive test results in April from independent testing of spherical purified graphite (SPG) produced from its US Coosa project in Alabama. Purities of up to 99.95wt% were achieved and the product was considered stable at over 150 cycles. “Near theoretical” reversible capacity was achieved as 370.11 mAh/g on the first cycle.

In Canada this month, Nouveau Monde Graphite has filed its Environmental and Social Impact Assessment study for the Matawinie project and announced a private placement of C$10.3M (US$7.7M).

Roskill view: Project development has been encouraged by a continuation of relatively high flake graphite prices. Prices increased during Q4 2017 and Q1 2018 in response to Chinese environmental inspections and production plant closures but have since seen minimal downwards readjustment, despite the reopening of Chinese plants, as demand continues to rise from the battery sector.

Projects in Africa have seen extra encouragement thanks to increasing Chinese interest with a number of offtake agreements now lined-up with Chinese companies, many of which are involved in the battery raw material supply chain. China is looking increasingly at foreign sources of flake graphite as its battery sector sees robust growth and Africa is a resource-rich region with low production costs and an attractive location in terms of shipping. China currently has zero tariffs in place for imports from Africa.

Projects in Tanzania, meanwhile, have begun to see development once again as the political situation, with regards to the mining industry, regains some stability. In addition to Walkabout Resources, natural graphite development is being carried out in Tanzania by companies such as Kibaran Resources, Magnis Energy Technologies, Graphex Mining, Volt Resources, Black Rock Mining and Armadale Capital.

Roskill’s NEW Natural & Synthetic Graphite: Outlook to 2028 report will be published in June 2019. Click here to download the brochure and sample pages or to access further information. To discuss the graphite market with Roskill, contact Suzanne Shaw: suzanne@roskill.com



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    To: LoneClone who wrote (15836)4/23/2019 11:25:57 AM
    From: LoneClone
       of 17057
     
    [Lithium]

    Voltaic Minerals Corp. Announces the Signing of a Binding Letter of Intent with 1146915 B.C. Ltd

    accesswire.com
    .
    Monday, April 22, 2019 2:30 PM


    Not for distribution to U.S. news wire services or for dissemination in the United States.

    VANCOUVER, BC / ACCESSWIRE / April 22, 2019 / Voltaic Minerals Corp. (TSX-V: VLT) (the "Corporation" or "Voltaic") is pleased to announce that it has entered into a binding Letter of Intent ("LOI") dated April 17, 2019 with 1146915 B.C. Ltd. ("PrivCo"). Pursuant to the terms of the LOI Voltaic and PrivCo will enter into a definitive Share Exchange Agreement (the "Definitive Agreement") whereby all outstanding securities of PrivCo will be exchanged for securities of Voltaic (the "Acquisition"). On or prior to closing of the Acquisition, Voltaic will have used reasonable efforts to complete one or more private placements (the "Private Placement") of units (the "Voltaic Units") on terms acceptable to PrivCo, acting reasonably, for minimum gross proceeds of $2,000,000 at a price of $0.25 per Voltaic Unit. Each Voltaic Unit shall be comprised of one Voltaic Share and one warrant to acquire an additional Voltaic Share (each a "PP Warrant") at an exercise price of $0.50 per PP Warrant (the Private Placement together with the Acquisition, the "Transaction"). The Transaction is expected to constitute a Fundamental Acquisition (as that term is defined in the policies of the TSX Venture Exchange (the "TSXV")) by Voltaic. The final structure of the Definitive Agreement is subject to applicable corporate, securities and tax considerations. The Acquisition is an arm's length transaction.

    Prior to completion of the Transaction, PrivCo may complete one or more private placements (the "PrivCo Financing") of units (the "PrivCo Units") on terms acceptable to Voltaic, acting reasonably, for gross proceeds of up to $2,000,000 at a price of $0.25 per PrivCo Unit. Each PrivCo Unit shall be comprised of one common share of PrivCo (each a "PrivCo Share") and one warrant to acquire an additional PrivCo Share (each a "PrivCo Warrant") at an exercise price of $0.50 per PrivCo Warrant.

    On closing of the Transaction, it is anticipated that Voltaic will change its name to "Alpha Lithium Corp.", or such other name as is satisfactory to Voltaic, PrivCo and the TSXV. On completion of the Transaction the Corporation will carry on with the development of PrivCo's lithium assets in Argentina in conjunction with development of its other projects.

    About PrivCo

    PrivCo is a private company incorporated under the British Columbia Business Corporations Act and headquartered in Vancouver, British Columbia. PrivCo is a lithium exploration and development company focusing on the development of eight claims (the "Claims") covering approximately 20,699 ha in Salta Province, Argentina. Privco's claims when added to the two claims covering 6,778.02 ha acquired by Voltaic from PrivCo in December, 2017 (refer to Voltaic's news release dated December 27, 2019 for further details) would bring the total property of the combined companies to 27,477 ha in Salta, Argentina.

    Upon completion of the Transaction, it is anticipated that certain of Voltaic's current board and management will resign and that representatives of PrivCo with the requisite experience will be appointed as Voltaic directors and officers, in order to satisfy the requirements of the TSXV. Voltaic will provide an update in respect of its proposed management in due course.

    Share Exchange Transaction

    On closing of the Transaction, the holders of the issued and outstanding PrivCo Shares will exchange their shares in consideration for Voltaic Shares on a 1:1 basis (the "Exchange Ratio"). In addition, to the extent any convertible securities of PrivCo remain outstanding on the date of closing the Transaction, Voltaic will issue replacement securities (the "Voltaic Replacement Securities") in consideration of the cancellation of the convertible securities of PrivCo, which Voltaic Replacement Securities shall be exercisable to acquire Voltaic Shares in lieu of PrivCo Shares based on the Exchange Ratio and otherwise bear the same terms and conditions as the convertible securities of PrivCo so cancelled.

    It is presently anticipated that (excluding the exchange of any securities which may be issued pursuant to the PrivCo Financing), the Acquisition share exchange will result in:

    1. the issuance of 14,140,000 common shares of Voltaic ("Voltaic Shares") to the shareholders of PrivCo on closing, presuming all PrivCo convertible securities are converted prior to closing; and

    2. the issuance of 2,140,000 warrants to purchase Voltaic Shares at a price of $0.30 per Voltaic Share to the warrant holders of PrivCo on closing.
    Furthermore, following (i) completion of the Transaction and (ii) completion of any mineral resource estimate (each an "Estimate") prepared in accordance with national Instrument 45-106 Standards of Disclosure For Mineral Projects ("NI 43-101") over any or all of the property comprised in the Claims, Voltaic shall issue to the holders of PrivCo Shares as at the date of the LOI (on a pro rata basis) a bonus equal to 1 Voltaic Share for each 1 tonne of Lithium Carbonate Equivalent (LCE) included in the applicable Estimate(s) as either a "measured mineral resource" or an "indicated mineral resource", as those terms are defined in NI 43-101, to an aggregate maximum of 5,000,000 Voltaic Shares.

    Upon completion of the Transaction, Voltaic will assume certain share and cash based payment obligations of PrivCo to the persons in Argentina from whom PrivCo acquired the Claims, and failure to do so may result in forfeiture of the right to the Claims. Particulars of these payments will be set out in detail in a subsequent news release prior to closing.

    Voltaic CEO, Darryl Jones, commented, "After completing the small acquisition in Argentina in December, we worked extremely hard to sign up this latest acquisition with the goal to establish Voltaic as a major participant in Argentina's lithium brine exploration industry. Argentine lithium production would position Voltaic exceptionally well in the battery metals market."

    Assumed Obligations

    Upon closing, Voltaic will assume the following obligations of PrivCo to persons with interest in mineral claims in Argentina: under agreement 1, payment of USD$1,000,000 payable in shares of Voltaic over 18 months, subject to the right of the claim holder to get a portion in cash under certain conditions, cash payments of USD$210,000 over 3 years, and expend $USD1,000,000 on the property in the first 12 months after approval of the Environmental Impact Study; under agreement 2, USD$1,050,000 payable in shares of Voltaic over 18 months. Both agreements have net smelter royalties payable on production.

    Miscellaneous Terms

    The Transaction is subject to a number of standard conditions of closing, including necessary board, shareholder and regulatory approvals, as well as completion of satisfactory due diligence.

    The securities to be issued in connection with the Transaction have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S promulgated under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    Unless agreed between the Corporation and PrivCo, the LOI will terminate on the execution of the Definitive Agreement.

    Completion of the Transaction is subject to a number of conditions, including TSXV acceptance. The Transaction cannot close until the required approvals are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

    The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

    ON BEHALF OF THE BOARD OF VOLTAIC MINERALS CORP.

    (Signed) "Darryl Jones"

    Darryl Jones
    President, CEO and Director
    Tel: 604.343.2723
    info@voltaicminerals.com

    Forward Looking Statements

    This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction and the outlook of the business of PrivCo; that Voltaic or PrivCo may complete a private placement; that Voltaic may achieve its goal to be established as a major participant in Argentina's lithium brine exploration industry; and that Argentine lithium production would position Voltaic exceptionally well in the battery metals market. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction and associated transactions, that the ultimate terms of the Transaction or private placements will differ from those that currently are contemplated, and that the Transaction or private placements will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on the Corporation's due diligence and the receipt of tax, corporate and securities law advice for both the Corporation and PrivCo. Even if the Transaction and the private placements close, they may not prove to be successful and no lithium operations may be possible. Voltaic may not be able to comply with its obligations to claim owners assumed from PrivCo, and the Claims may be repossessed. There may not be any commercial quantities of lithium in the Claims, and even if there is, they may not be minable profitably. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, PrivCo, their securities, or their respective financial or operating results (as applicable).

    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.

    SOURCE: Voltaic Minerals Corp.

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    To: LoneClone who wrote (15837)4/23/2019 11:54:21 AM
    From: LoneClone
       of 17057
     
    Explorex Resources Exploration Plans Buena Vista Hills Cobalt - IOCG Project, Nevada

    newsfilecorp.com

    Vancouver, British Columbia--(Newsfile Corp. - April 23, 2019) - Explorex Resources Inc. (CSE: EX) (FSE: 1XE) (OTC PINK: EXPXF) (the "Company" or "Explorex") is pleased to provide an update on the Company's exploration plans on the Buena Vista Hills Cobalt - Iron Oxide Copper Gold ("IOCG") project ("Buena Vista" or "Project") in Pershing County, Nevada and provide a corporate update.

    Key Highlights

  • Planning Phase 1 drill program with initial three holes on Private Land requiring no permitting;
  • Objective is to confirm previously reported cobalt grades and extent of mineralization;
  • At Surface, thick and well developed oxidized cobalt target;
  • Near Surface semi-massive to massive high-cobalt tenor 'Cobaltoan' pyrite target;
  • Cobalt mineralizing fluids uniquely focused along massive magnetite body within major controlling structure;
  • Primarily on privately owned land; and
  • Currently formalizing Option Agreement to acquire 100%.



  • Buena Vista Drill Plan

    The initial drill program is designed to target the cobalt mineralization observed in the immediate vicinity of the Segerstrom-Heizer open pit with the objective to confirm the historic cobalt grades and the indicated scale of mineralization. This can be accomplished quite economically utilizing a reverse circulation rig and quite expeditiously with the first three drill holes, totalling 750 metres (2,500 feet), located on private land requiring no permitting. Additional drill holes are planned and it is the Company's intention to obtain permits for the proposed drill holes located on US Bureau of Land Management ("BLM") Lands in support of the Phase 1 drill program.

    Buena Vista Project Summary

    The Project is situated approximately 35 km SE of Lovelock, Pershing County, Nevada and primarily comprised of a full private section of land (Section 15, Township 25N, Range 34E covering 2.6 km2) complemented by an adjacent block of 12 claims on US Bureau of Land Management ("BLM") land to the north, covering an additional 0.8 km2. The Company is currently in the process of finalizing the option agreement to acquire 100% of the Project from New Tech Minerals Corp. ("New Tech") (option terms detailed below).

    Buena Vista is centered around the past producing open-pit Segerstrom-Heizer ("SH") iron ore mine that produced more than 1.2 million tons of iron ore between 1943 and 1966 (Nevada Bureau of Mines, Bulletin 89, Johnson, 1977). The massive magnetite is localized within the northeast-striking, northwest-dipping Segerstrom-Heizer fault zone ("SH Fault") and is coincident with a series of northwest-trending cross faults.

    Subsequent to the emplacement of the magnetite, an intense 'Cobaltoan' pyrite-marcasite sulfide mineralizing event occurred (i.e. Cobaltoan pyrite is simply a name given for pyrite containing an appreciable content of cobalt). The Cobaltoan forming fluids were introduced along the local structures, favorably constrained by the massive magnetite unit, with Cobaltoan iron-sulfide deposition focused along the hanging wall and foot wall margins of the massive magnetite body.

    A significant amount of Cobaltoan iron-sulfide mineralization is exposed in the open pit walls and within the waste dumps, presenting two distinct prime exploration target styles:

    1.) The Cobaltoan mineralization appears to be strongly oxidized to about 50-60m below surface and represents a shallow, thick and well developed hanging wall open pit target; and

    2.) A Cobaltoan massive pyrite-marcasite sulfide target is indicated below the oxidized cap.

    'At Surface' Significant Cobalt Oxide Target

    The potential of the 'at surface' oxidized zone was revealed in a reverse circulation ("RC") drill hole completed by the property owner, Zephyr Minerals, in 2008 ("Zephyr Hole"). The Zephyr Hole was located approximately 100 m northeast of the main exposed mineralized zone at the NE pit wall and drilled vertically with fixed 3.05 m (10 foot) sample intervals. The cobalt mineralization was intersected under the mine waste at a 6.1 m (20 foot) depth and graded 0.09% CoO over 27.4m (90 feet). This interval included 12.2m (40 feet) grading 0.12% CoO from 12.2-24.4m (40-80 feet).

    New Tech recently collected grab samples from several small development pits occurring along the NE extension of the SH fault zone. Four samples were collected up to 305 m (1000 feet) NE of the SH pit grading 284, 465, 825 and 921 ppm Co and one grab sample collected from a development pit located approximately 457 m (1500 feet) NE of the SH pit contained 837 ppm Cobalt.

    Of note, the significant cobalt mineralization reported in the Zephyr Hole combined with the cobalt mineralization observed in grab samples quite distant from the Zephyr Hole indicates the potential for a large at surface cobalt mineralized target area along the extent of the magnetite body and SH Fault.

    Near Surface Cobaltoan Iron Sulfide Target

    In 2018, New Tech collected two semi-massive magnetite grab samples exhibiting significant pyrite replacement (~30% to 50% pyrite content) from the open pit waste dump that graded 0.15 and 0.48% Cobalt*.

    Independent from New Tech, three massive Cobaltoan pyrite samples were collected from the dump that returned grades of 0.45, 0.82 and 1.20% cobalt* (T.A. DeMatties, unpublished preprint data).

    The semi-massive to massive pyrite samples collected from the dump material reveal a high cobalt tenor and emphasises the potential for a sizable near surface cobalt iron sulfide mineralized zone below the oxidized cap.

    Except for the Zephyr Hole, all historic holes at Segerstrom-Heizer did not analyze for cobalt.

    (*Note): The grab samples reported in this release are solely designed to show the presence or absence of mineralization and to characterize the mineralization. Grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the projects.

    Buena Vista Hills Option Update and Terms Correction

    The Company has entered into a Letter of Intent ("LOI") with New Tech Minerals Corp. for the 100% acquisition of the Buena Vista Hills project and is anticipating the formal execution of the option agreement shortly. In addition, the Company would like to note the following correction to the work expenditure anniversary dates provided in the Company's news release dated March 04, 2019.

    Work Expenditure: The Company shall expend USD 700,000 in Exploration Expenditures as follows:

    Work ExpenditureDue Date
    $300,000Completed by May 15, 2020
    $400,000Completed by May 15, 2021


    Corporate Update

    The Company has reviewed its property portfolio to determine which projects to focus on in 2019. As a result, the Company has readily decided to concentrate on the Buena Vista Hills (NV) and Kagoot Brook (NB) projects, however the Company has elected to drop the Cobalt-Paragon (ON), Chrysler (ON) and Handlebar (BC) projects. The Buena Vista Hills and Kagoot Brook projects provide a combination of exceptional upside and size potential that fits well with corporate objectives and what the Company perceives can provide greater impact in the market. The other projects' attributes do not align with the Company's current priorities and it is a benefit to the Company to forgo the associated costs of maintenance.

    In addition, Clarmin Exploration Inc. ("Clarmin") has provided notice to the Company that Clarmin has terminated the option to acquire 100% interest of the polymetallic Arlington Project situated approximately 67 kilometres south of Kelowna, B.C. The Arlington Project has been returned to the Company's property portfolio and the Company anticipates realizing a value add from the returned asset.

    About Explorex Resources Inc.

    Explorex is an exploration company focusing on Cobalt and metals critical to rechargeable battery technology. Explorex is earning a 75% interest in the Co-Mn-Base Metals Kagoot Brook project in New Brunswick and is pursuing an option to acquire 100% interest in the Buena Vista Hills Co-IOCG Project in Pershing, Nevada.

    On behalf of the Board,

    Gary Schellenberg, CEO

    For further information, please contact Gary Schellenberg, CEO or Mike Sieb, President at 604-681-0221

    Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.

    This news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially and there are no assurances that the transaction described in this news release will close on the terms described or at all. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.

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    To: LoneClone who wrote (15838)4/23/2019 11:55:59 AM
    From: LoneClone
       of 17057
     
    [Lithium] Cypress Development Announces Results from Drilling at Clayton Valley Lithium Project in Nevada

    ca.finance.yahoo.com

    GlobeNewswireApril 23, 2019

    VANCOUVER, British Columbia, April 23, 2019 (GLOBE NEWSWIRE) -- Cypress Development Corp. (TSX-V: CYP) (OTCQB: CYDVF) (Frankfurt: C1Z1) (“Cypress” or the “Company”) is pleased to report assay results from its recently completed infill drilling program at the Company’s Clayton Valley Lithium Project in Nevada. The program which commenced in March is a critical step in the Prefeasibility Study (PFS) currently underway with Ausenco Engineering Canada Inc., Global Resource Engineering and others.

    The target area for this phase of drilling was the southwest portion of the initial pit area as described in the October 1, 2018 Preliminary Economic Assessment NI 43-101 Technical Report (PEA). The PEA included updated mineral resources with an Indicated Resource of 831 million tonnes at 867 ppm Li (3.835 million tonnes LCE) and an Inferred Resource of 1.12 billion tonnes at 860 ppm Li (5.126 million tonnes LCE), based upon a cut-off grade of 300 ppm Li. Complete assay results are as provided in the following table.

    Hole Top (m) Bottom (m) Interval (m) Grade Li (ppm)





    GCH -07 3 142 * 140 1,032
    Incl 3 91 88 1,189





    GCH-08 3 112 * 109 1,127
    Incl 3 87 85 1,226





    GCH-09 2 118 * 116 924
    Incl 2 75 74 1,115





    GCH-10 3 94 * 91 948
    Incl 3 54 51 1,130





    GCH-11 5 124 * 119 1,004
    Incl 5 87 82 1,115





    GCH-12 2 114 * 112 1,127
    Incl 2 81 80 1,252

    * End of hole. All holes except GCH-9 and GCH-10 end in >600 ppm Li.

    All drill cores from the program were geologically logged and delivered to ALS USA Inc. in Reno for sample processing and assay. Cores from five of the six holes were processed through sample preparation in their entirety, with coarse reject material retained for use in metallurgical tests. Intervals from three of the holes were selected and were submitted for geotechnical testing. All samples were accompanied by QA/QC samples of blanks, standards and duplicates.

    The goal of the drilling program for the PFS was to define an area of relative higher-grade lithium, upgrade the categories of resources and provide the tonnage for the PFS mine plan and production schedule. The program also provided fresh material for geotechnical and ongoing metallurgical testing.

    Cypress CEO Bill Willoughby commented, “We are pleased with the results and regard the infill drilling program as a success. The program demonstrated consistent results from hole to hole and achieved our goal of obtaining better-than-average grade intervals within the target area. The results have been shared with Global Resource Engineering who are in the process of updating the resource model from the October 2018 PEA and producing an optimized mine schedule.”

    Daniel Kalmbach, CPG, is the qualified person as defined by National Instrument 43-101 and has approved of the technical information in this release.

    About Cypress Development Corp.:

    Cypress Development Corp. is a publicly traded exploration company focused on developing the Company's 100%-owned Clayton Valley Lithium Project in Nevada. Exploration and development by Cypress has discovered a world-class resource of lithium-bearing claystone adjacent to Albemarle's Silver Peak mine, North America's only lithium brine operation.

    Cypress Development Corp. has approx. 74 million shares issued and outstanding.

    To find out more about Cypress Development Corp. (TSX-V: CYP), visit our website at www.cypressdevelopmentcorp.com.

    CYPRESS DEVELOPMENT CORP.

    “Dr. Bill Willoughby”

    WILLIAM WILLOUGHBY, PhD., PE
    Chief Executive Officer

    For further information contact myself or:
    Don Myers
    Cypress Development Corp.
    Director, Corporate Communications
    Telephone: 604-639-3851
    Toll Free: 800-567-8181
    Facsimile: 604-687-3119
    Email: info@cypressdevelopmentcorp.com

    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

    This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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