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   Gold/Mining/EnergyRare Earth Elements and Exotic Metals

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To: LoneClone who wrote (15879)5/10/2019 8:20:16 PM
From: LoneClone
   of 17260
Lake Resources (ASX:LKE) Pilot Plant Engineering Underway at Kachi Lithium Project

Lilac Solutions Direct Extraction Plant On-Track to be Operational at Kachi Project Late 2019

Targeting Rapid, Low-Cost Lithium Production with High Recoveries and Minimal Environmental Impact

WW: Company Overview

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Brisbane, May 7, 2019 AEST (ABN Newswire) - Lithium exploration and project development company Lake Resources NL ( ASX:LKE) announced today the commencement of design and engineering works for the Company's planned pilot plant at its 100% owned Kachi Lithium Brine Project in Argentina. Based on U.S. partner Lilac Solutions' direct extraction production technology, the pilot plant will test the potential for rapid, low-cost production with high recoveries and minimal environmental impact, at a pilot scale, offering a significant competitive advantage.

This follows December's release of a successful Phase 1 Engineering Study conducted by the Silicon Valley-backed Lilac Solutions, with the study showing its direct extraction process has the potential to rapidly produce very high lithium concentrations from Kachi brines with low impurities (refer ASX announcement 10 December 2018).

- First steps towards pilot plant testing with design and engineering underway at Lake's Kachi Lithium Project, Argentina based on high-productivity, high-purity Lilac Solutions direct extraction technology.

- Design and engineering phase expected to take three months. This will then lead to an estimated 3 months of construction, with delivery of the pilot plant on-site at Kachi and commissioning expected in late 2019.

- Pilot plant forms part of pre-feasibility study (PFS), as a precursor to full-scale commercial project offering rapid, low-cost production with minimal environmental impact.

- Phase 1 Engineering Study showed potential for production costs to be in the lowest quartile of global lithium production costs; high lithium concentrations of 30,000 mg/L produced after 3 hours of processing from ~300 mg/L brines, with recoveries of 85-90% confirmed from multiple samples.

Lithium concentrates of 30,000 mg/L have been produced using the Lilac technology in just three hours from Kachi brines, with trials up to 50,000 parts per million (ppm), together with evaporative dewatering. Significantly, high lithium recoveries of 85-90% were obtained compared to the typical 40-50% recoveries using conventional evaporation processes, maximising the resource.

Importantly, the study showed globally competitive production costs of US$2,600/tonne (+/-30%), which is in the lowest cost quartile for lithium carbonate production, using a commercial-sized Lilac Solutions production plant. (Note: The estimated costs of production are preliminary estimates based on the Phase 1 Engineering study.) The lithium concentrate stream could then be processed downstream into battery-grade lithium product using conventional purification technologies (either a conventional lithium carbonate plant or hydroxide plant).

This compares favourably with conventional brine operations in South America, which use evaporation that requires a lengthy 9 to 24 month waiting period for the process to produce a suitable lithium brine concentrate for processing, and have lithium recoveries typically below 50%.

Lilac's extraction technology also offers the potential for reduced environmental impact compared to traditional processes used in Argentina, due to the removal of evaporation ponds. In addition, the remaining brine would be reinjected into the aquifer from which it is sourced without significantly affecting the water quality, thereby preserving an aqueous resource in an arid environment.

Lilac's Chief Executive Officer, David Snydacker said: "We are confident that combining Lilac's high-performance, next-generation lithium extraction technology with the massive lithium resource at Kachi will result in the most modern, efficient, reliable, and environmentally friendly lithium project in the world."

Lake's Managing Director, Steve Promnitz said: "The commencement of the pilot plant process is a milestone event, not only for Lake but also for the lithium industry more broadly, as we work to unlock the benefits of direct extraction technology. By combining cutting-edge Silicon Valley innovation with established mining industry know-how, there is potential for the creation of a sustainable competitive advantage in an industry that is at the centre of a global revolution in energy and transport."

The PFS process for Kachi has already commenced (refer ASX announcement 9 April 2019), under which a leading international engineering firm has been engaged to examine its technical and economic viability, including both conventional and direct extraction methods, project engineering design, product specifications, optimisation of recovery and operating and capital costs.

Lilac has commenced the detailed design and engineering phase of the pilot plant, together with an international engineering firm, which is expected to take approximately three months. This will be followed by the build and transport of the plant to site at Kachi, where it will be installed and commissioned.

The pilot plant is expected to be capable of producing around 10 tonnes per annum of lithium carbonate equivalents. The planned approach is to produce a concentrate of purified lithium brine on-site and then convert it to lithium carbonate and/or lithium hydroxide at a location with more established infrastructure and workforce. Most reagents can be easily sourced locally, and Lilac will provide its proprietary ion exchange media. Based on the current timeline, the plant could be operating in late 2019, expected to be a precursor to a full-scale commercial project.

The Kachi project has an Indicated and Inferred Resource of 4.4 Mt LCE (Indicated 1.0Mt and Inferred 3.4Mt) within a much larger Exploration Target (refer ASX release 27 November 2018), covering some 69,000 hectares over almost an entire lithium-bearing salt lake in Catamarca Province.

Based on market feedback, Lake considers there is potential for Lilac's technological solution to attract support from Silicon Valley-based and/or downstream investors, given Lilac's investor base and the recent U.S. drive to develop its lithium industry. New U.S. legislation aims to speed the development of lithium and other electric vehicle (EV) supply chain minerals, facilitating increased EV output in the United States.

Demand forecasts point to the need for an eight-fold rise in lithium supply over the next nine years, on the back of the EV revolution, battery storage and other applications. With supply from major producers continuing to fall short of projections, new projects and technologies will be essential to support the industry's growth.

Recent merger and acquisition (M&A) activity, both at the corporate level and in projects adjacent to Lake's in Argentina, also points to a bright outlook for the sector as investors re-evaluate its potential.

Lake's Mr Promnitz added: "Lake's Argentina projects are in the heart of the Lithium Triangle, home to half the world's lithium output and at the lowest cost.

"With our Kachi project now gaining momentum with the benefit of an innovative technological process and drilling underway at the Cauchari project (refer ASX announcement 1 May 2019), Lake is entering a significant new phase of its evolution as we work to deliver wealth for shareholders and benefits for all industry stakeholders."

To view figures, please visit:

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.


Steve Promnitz
Managing Director
Lake Resources N.L.
T: +61-2-9188-7864

Link: Pilot Plant Engineering underway at Kachi Lithium Project

Related Companies

Lake Resources NL

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To: LoneClone who wrote (15880)5/10/2019 8:25:56 PM
From: LoneClone
   of 17260
Platina Resources (ASX:PGM) Platina Scandium Project - Mining Lease Application Lodged

WW: Company Overview

Perth, May 9, 2019 AEST (ABN Newswire) - Platina Resources Limited (Platina or the Company) ( ASX:PGM) ( OTCMKTS:PTNUF) is pleased to announce the lodgement of a Mining Lease Application ("MLA") by its wholly owned subsidiary company Red Heart Mines Pty Ltd, as part of the Platina Scandium Project ("PSP"), with the New South Wales Department of Planning and Environment.


- Mining Lease Application for the Platina Scandium Project lodged with New South Wales Department of Planning and Environment

- Application supported by a comprehensive technical study process including, a Definitive Feasibility Study which demonstrated a strong economic case for the project development

- Paves the way for the completion of the permitting process including the continuation of the stakeholder engagement program

The New South Wales mining legislation requires the preparation of a comprehensive MLA as one of the preconditions to the granting of a Mining Lease to conduct mining operations. The Company has been actively working on the technical and environmental studies, stakeholder engagement and consultation to develop a proposal to mine the Red Heart Ore Reserves, and these form the basis of the MLA lodged today - see Figure 1(see link below).

The PSP is the Company's flagship project located in central New South Wales, one of the largest and highest-grade scandium deposits in the world, which has the potential to become Australia's first scandium producer with cobalt, platinum and nickel credits. A DFS was completed in late 2018 demonstrating the technical and economic viability of constructing the project. The positive DFS demonstrates the opportunity to create substantial long-term sustainable shareholder value at a manageable capital cost - see Table 1(see link below).

Commenting on the lodgement of the MLA, Platina Managing Director, Corey Nolan, stated:

"The Platina Scandium Project Mining Lease Application is a significant milestone in the projects development and is supported by a comprehensive Definitive Feasibility Study, environmental studies and stakeholder consultation process in its design. The Company will continue its program of engagement with the local community, councils and State Government as the project moves towards the development stage.

Critical to this pathway, is the continuation of the strong marketing effort to secure offtake for the projects high-purity scandium oxide which will facilitate the securing of project financing".

Next Steps

The next steps for the PSP development include:

- Progressing land holder lease or land purchase negotiations for the mine site properties;

- Preparation of separate Environmental Impact Assessments (EIA's) for the mine site and the Condobolin plant site;

- Preparation of separate Development Applications for the Red Heart Mine site and the Condobolin plant site;

- Progressing marketing activities and negotiating offtake agreements for the scandium oxide production; and

- Raising debt and equity funding to execute the project.

Now that the MLA has been lodged, work has commenced on the preparation of the Development Applications, which require land holder lease or land purchase agreements to be secured at the Red Heart Mine. In addition, the Company is focused on the continuation of its stakeholder engagement program. The program is aimed at securing the Company's licence-to-operate within the communities in which it will operate and includes consultation with landowners and occupiers, communities of Condobolin, Fifield and Tullamore, Lachlan Shire Council, New South Wales Department of Planning and Environment and State politicians.

Stakeholder views have been taken into consideration in respect of the mine and process plant design, planned operations and rehabilitation.

The Company will conserve cash resources and finalise the Environmental Impact Assessments once it is further advanced on offtake negotiations. The Company has commissioned extensive technical and environmental assessments including groundwater, surface water, air quality, traffic, noise, heritage and biodiversity.

To view tables and figures, please visit:

About Platina Resources Limited

Platina Resources Limited ( ASX:PGM) ( OTCMKTS:PTNUF) is an Australian-based exploration and development company focused on precious and specialty metals, particularly platinum group metals ("PGM") and the strategic metal scandium.

The PSP is the Company's flagship project located in central New South Wales, one of the largest and highest-grade scandium deposits in the world, which has the potential to become Australia's first scandium producer with cobalt, platinum and nickel credits. A Definitive Feasibility Study was completed in late 2018 demonstrating the technical and economic viability of constructing the project. The Company is now focused on completing the permitting and securing offtake and financing.

The Company also has interests in two gold-platinum group metal projects, including:

- Skaergaard (100% interest) - One of the world's largest undeveloped gold deposits and one of the largest palladium resources outside of South Africa and Russia, located in Greenland; and

- Munni Munni (30% interest) - Situated in the Pilbara region of Western Australia, the Munni Munni Complex is one of Australia's most significant PGM occurrences. Munni Munni also has potential for conglomerate hosted gold and is a joint venture with Artemis Resources Limited.

For more information please see:


Corey Nolan
Managing Director
Tel: +61-7-5580-9094

Link: Platina Scandium Project - Mining Lease Application Lodged

Related Companies

Platina Resources Limited

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To: LoneClone who wrote (15881)5/12/2019 2:29:30 PM
From: LoneClone
   of 17260
Vanadium and Niobium Substitution

Michael Drozd, Vice President of Operations, Prophecy Development Corp.

Date April 26, 2019

As the vanadium market becomes tighter, the name niobium (also known as columbium) begins to be bandied about. To understand why niobium is under discussion, you will need a little chemistry background. Vanadium is an element with the atomic number of 23 and a molecular weight of 51. It is located on the periodic table just below vanadium, which indicates it shares with it some chemical properties. Niobium has an atomic number of 41 and a molecular weight of 93. So on an atomic basis, niobium is 45.2% heavier than vanadium.

When you talk about elements, you speak in terms of moles. One mole of vanadium is 51 grams, and it contains 6.023X1023 atoms. But a mole of niobium is 93 grams and contains the same number of atoms. This relationship is known as Avogadro’s number. The relationship is immutable and applies always. This gets us back to the statement that niobium is 45.2% heavier than vanadium: an alloy with a certain molar amount of niobium will be heavier than an alloy with the same molar amount of vanadium (other things being equal). This makes a difference when you are trying to improve fuel mileage in airplanes or motor vehicles. (Note: Military grade aluminum from your favorite truck commercial contains no vanadium. Military grade refers to the specifications used by the military to purchase aluminum alloy.) The amount of vanadium in steel and glass (used to color the glass or, in the case of smart glass, as an integral part of the material) comes to less than 0.5% in an automobile. The largest use of vanadium by far is in structural steel.

As the term alloy was used above, what an alloy is must be understood. An alloy is a metallic solid composed of a homogeneous mixture of a metal with at least one other metal, metalloid, or non-metal. Most metals you come in contact with are alloys rather than pure. Common alloys are stainless steels (SS210, SS410, SS304) in cars and appliances, aluminum (series 6000 aluminum, such as 6063) in doors and windows, and structural steel (A-572) in buildings and cars. So it can be said that an alloy is a mixture of metal additives in a metal base (iron, aluminum, nickel, etc.). They are produced because the mixture has properties better suited to the intended use than the metal base.

The addition of vanadium (or niobium) to a rebar (structural steel) recipe makes a stronger metal. The same idea goes for other metal alloy bases. But this alloying of metal not only increases strength, but in some cases it imparts corrosion resistance, abrasion resistance, or an increase or decrease in the potential flow of electricity. Alloy steels are usually a mixture of steel and 1–20% nickel, 1–20% chromium, and minor amounts of manganese, silicon, molybdenum, cerium, vanadium, niobium, aluminum, carbon, and a myriad other metals.

Each of these mixtures has been developed for specific uses, with the ingredient proportions determined by trial and error. The metals are mixed in small batches, and the resulting alloy is tested to determine its properties.

A superalloy is a mixture of metals with a nickel base. These alloys are resistant to corrosion or temperature or both. They are important because they can be used in conditions that would destroy most metals.

In something known as high strength low alloy (HSLA) steel, a minor addition (many times less than 0.5%) results in a large increase in strength. HSLA steels are used in building structures (structural steel), automotive frames, airplane fuselages (aluminum alloys), and jet engines (titanium alloys). All of these alloys use vanadium. There are some uses of alloys (such as rebar, reinforcing bars that are part of concrete structures) that can use the “periodicity” of a metal (elements in the same column of the periodic table sharing chemical and alloying properties) to substitute for the metal above or below it on the periodic table. This is the case for vanadium and niobium, as they are both in column 5B and so have similar properties.

The difference between vanadium HSLA steel and niobium HSLA steel derives from the manufacturing process and the quality control. Vanadium steel can be manufactured at a lower temperature due to better grain size formation. Niobium rebar has to be raised to a higher temperature and be cooled under much more stringent conditions so as to maintain metal quality. Additionally, niobium rebar can be more brittle (cracks form earlier) than vanadium rebar. This means that after proper alloy development, it is possible to substitute one metal for the other. These substitute alloys have slightly different properties, and the particular alloy has to be vetted to determine whether the differences are minor. Usually, as the molecular weight increases, the elements in the group become less viable as a substitute—because the molecules become too large. So niobium HSLA alloys may be more brittle than vanadium alloys, but this brittleness may be acceptable since the tensile strength (the maximum load that a material can support without fracture when stretched, divided by the original cross-section area of the material) may be a more important property than the lateral stability or shear strength. (Shear strength is a material’s ability to resist forces that can cause parts of the internal structure of the material to slide against each other. Adhesives tend to have high shear strengths.)

As the prices of commodities change, substitution is always considered in order to moderate the cost. Under the best conditions, an inexpensive, widely available material is substituted for the expensive material. But under most conditions, the material available for substitution is only slight less expensive. Another factor is that since the substituted item probably has a finite production level, sudden use by another industry can cause price repercussions that may make the substituted material more expense than the original.

In 2018, United States niobium consumption was about 10,000 tonnes, 27% higher than the previous year (2014 usage was 10,000 tonnes). World niobium production is 68,000 tonnes, 88% of which is from a mining complex in Brazil. Another 10% is from at a mine in Canada, and the remaining 2% comes from Africa and Australia. The estimated price for 2018 US consumption was $12.80/lb. The niobium market has been very stable for years, and the increase in US consumption was absorbed by the market. Vanadium production is significantly higher than niobium production (which was 73,000 tonnes worldwide in 2018). If niobium is not available at a reasonable price, the first choice for substitution is tantalum (world production, 1,800 tonnes). But that metal is less suited to HSLA substitution, and its low world production level makes its use as an inexpensive substitute problematic.

One can be sure that any of the metals that can be used as a substitute for vanadium will be explored when the price of vanadium increases. But the lower production levels of these metals and the stability of their supply probably limits their usefulness as substitutes for vanadium. While economics will force substitutions for vanadium, it is expected that the price advantages will be short-lived and that prices will increase since the limited supply and low potential increase in production will dry up metal supply.

Therefore, vanadium substitution will come to the market to the extent possible, and the less desirable properties will be accepted with potential savings. But the available substitute production is limited, and it will probably not cover the expected annual increase in usage (6%, or 4,000 to 5,000 tonnes per year). So until new production comes online, the price of all of these metals will probably experience upward pressure.

Mr. Drozd is the Vice President of Operations at Prophecy Development Corp (TSX: PCY, OTC PRPCF) which is developing America’s first primary vanadium mine. Mr. Drozd specializes in metallurgy with 40 years of experience in the mining industry with firms such as Barrick and AMEC. Mr. Drozd has authored publications in gold flotation, gold processing, heap leach operations, cyanide detoxification, and carbon absorption technology. He also holds patents in molybdenum flotation, cyanide detoxification and vanadium recovery.

If you have any questions regarding this article, please email us at

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To: LoneClone who wrote (15882)5/12/2019 3:22:36 PM
From: LoneClone
   of 17260
Great Atlantic Acquires Glenelg Vanadium Property - Southwest New Brunswick

Monday, May 6, 2019 8:40 AM

VANCOUVER, BC / ACCESSWIRE / May 6, 2019 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the "Company" or "Great Atlantic") is pleased to announce it has acquired, through an option agreement and by staking, the Glenelg Vanadium Property, located in southwest New Brunswick. Recent bedrock grab samples from the property from a layered intrusion returned significant levels of vanadium and titanium. Historic grab bedrock samples are reported to return significant levels for gold, cobalt and bismuth. The property is located approximately 5 kilometers southeast of the Clarence Stream Gold Project of Galway Metals Inc.

  • Recent and historic bedrock grab samples of 0.33 & 0.42% V2O5.
  • Historic bedrock grab sample of 14 g/t Au, 1.38% Bi, 0.65% Co and 27.5 % TiO2.
  • Vanadium, titanium and iron mineralization in layered Bocabec Gabbro Complex.

(To view the full-sized image, please click here)

The Glenelg property has seen little exploration. Company management cannot find evidence of historical drilling within the property. The property is reported to be underlain by the Silurian Bocabec Gabbro Complex (gabbro, minor granodiorite, diorite and granite).

Polymetallic veins were discovered within the property during 2006 and 2013 by one of the option partners. A grab sample collected during 2006 was reported to return 2.6 grams per tonne (g/t) gold and 0.65% cobalt. Another grab sample was reported to return greater than 1% copper and 0.15% cobalt. A 2013 grab sample from a sulfide vein was reported to return 14 g/t gold, 1.28% bismuth and 0.12% cobalt.

A 2013 sample collected by one of the option partners from a magnetic layer in the Bocabec Gabbro Complex was reported to return 0.237% vanadium (0.42% V2O5), 16.5% titanium (27.5% TiO2) and greater than 30% iron.

A grab sample from a magnetic layer collected by Great Atlantic during 2018 returned 0.188% vanadium (0.33% V2O5), 10.10.3% TiO2 and 25.71% iron. This sample was collected by a qualified person. This sample was analyzed by ALS Canada Ltd. by XRF Fusion.

(To view the full-sized image, please click here)

(To view the full-sized image, please click here)

The Glenelg Property is located approximately 5 kilometers southeast of the Clarence Stream Gold Project of Galway Metals Inc. (TSXV.GWM). Galway reported a NI 43-101 resource estimate for the project during 2018, reporting total Measured plus Indicated resources of 6,178,000 tonnes at 1.96 g/t gold (390,000 ounces of gold) and total Inferred resources of 3,409,000 tonnes at 2.53 g/t gold (277,000 ounces of gold). Galway recently reported a new gold discovery at the Clarence Stream Gold Project with one hole reported to intersect 7.3 g/t gold over 36.7 meters core length (Galway News Release of February 13, 2019).

The Glenelg Vanadium Property is located within southwest New Brunswick approximately 20 kilometers east of the town of St. Stephen and approximately 15 kilometers northwest of the Company's Mascarene Property which hosts multiple mineral occurrences with cobalt, copper, nickel, zinc, lead, gold and / or silver. The Glenelg Vanadium Property covers an area of approximately 1,185 hectares.

Under the terms of the agreement, Great Atlantic may earn in a 100-per-cent interest in the property by making certain staged cash payments to the optionor over a five-year period as follows: (i) $10,000 in cash deposit (paid); (ii) $15,000 in cash on or before the first anniversary of the approval date; (iii) $30,000 in cash on or before the second anniversary of the approval date; (iv) $30,000 in cash on or before the third anniversary of the approval date; and (v) $40,000 on or before the fourth anniversary of the approval date; and (vi) $50,000 on or before the fifth anniversary of the approval date.

In the event Great Atlantic exercises the Option and acquires a 100% right, title and interest in and to the Property, the Optionor shall thereafter be entitled to a 2.0% net smelter return, payable upon the commencement of Commercial Production.

Optionee shall have the right to purchase one-half (50%) of the NSR Royalty from Optionor at any time by payment to Optionor of $1,000,000, leaving Optionor with a 1.0% remaining NSR Royalty or in stages example $500,000 for ½ of a percentage.

Readers are warned that mineralization at the Clarence Stream Gold Project and the Company's Mascarene Property are not necessarily indicative of mineralization within the Glenelg Vanadium Property. Readers are warned that historic data referred to in this News Release have not been verified by a qualified person.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

On Behalf of the board of directors

"Christopher R Anderson"

Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
604-488-3900 – Dir

Investor Relations:
Please call 604-488-3900

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

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.

Great Atlantic Resource Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4

SOURCE: Great Atlantic Resource Corp.

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To: LoneClone who wrote (15883)5/12/2019 4:46:31 PM
From: LoneClone
   of 17260
Dakota Territory Resource Corp Signs Lease Option Agreement Company Secures 5-Year Extension for Key Paleoplacer Property

May 07, 2019 11:15 ET | Source: Dakota Territory Resource Corp

Reno, NV, May 07, 2019 (GLOBE NEWSWIRE) --

Dakota Territory Resource Corp (OTCQB: DTRC) ("Dakota Territory" or the "Company") is pleased to announce that the Company has entered into a new five-year Lease With Option to Purchase Agreement for the Squaw and Rubber Neck Lodes that comprise Mineral Survey 1706 in the Black Hills of South Dakota. Mineral Survey 1706 is a key component of the Company’s overall Homestake Paleoplacer Property position, which currently consists of a total of 365 mineral acres covering approximately 1,750 meters of the channel trend extending northward from the Dakota Territory’s past-producing Gustin, Minerva and Deadbroke Mines.

The Homestake Paleoplacer Channel is believed to have carried approximately 10 million ounces of gold away from exposure of the lode source at the site of the Homestake Gold Mine. In the 1980’s and 1990’s, Homestake Mining Company undertook drill programs that successfully located the buried fossil placer approximately 550 meters north of the Deadbroke Mine, the last producing mine on the channel trend at the point that the channel disappeared under the cover of younger sedimentary and igneous rock formations.

The Channel Extension (CE) drill program cut a total of 5,726 meters from 27 drill holes, including CE 12A and CE 16, both of which were collared and drilled on Mineral Survey 1706. Drill hole CE 16 intersected 3 meters of flat lying quartz-pebble conglomerate of the basal Deadwood Formation assaying 5.85 grams per ton gold at a depth 164 meters below the surface. Additionally, drill hole CE12A intersected 2 meters of Deadwood Formation assaying 8.46 grams per ton gold at a depth of 192 meters below the surface.

About Dakota Territory Resource Corp

Dakota Territory Resource Corp. is a Nevada Corporation with offices located at Reno, Nevada. Dakota Territory is committed to creating shareholder value through the acquisition and responsible exploration and development of high caliber gold properties in the Black Hills of South Dakota.

Dakota Territory maintains 100% ownership of three gold properties covering approximately 4,059 acres in the heart of the Homestake District, including the Blind Gold, City Creek and Homestake Paleoplacer Properties. Dakota Territory is uniquely positioned to leverage Management’s extensive exploration and mining experience in the District with Homestake Mining Company. For more information on Dakota Territory, please visit the Company's website at

Investor Relations

Investor Relations Contact: For more information, please contact Dakota Territory Resource Corp (775) 747-0667

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission ("SEC") limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. Our property currently does not contain any known proven or probable ore reserves under SEC reporting standards. Our reference above to the various formations and mineralization believed to exist in our property as compared to historical results and estimates from other property in the district is illustrative only for comparative purposes and is no indication that similar results will be obtained with respect to our property. U.S. investors are urged to consider closely the disclosure in our latest reports filed with the SEC. You can review and obtain copies of these filings at

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To: LoneClone who wrote (15884)5/12/2019 5:25:59 PM
From: LoneClone
   of 17260

Maya Gold & Silver Reports Positive Findings at Its Third Property Azegour (W, Mo, Cu, Co, U) in the Kingdom of Morocco and Announces the Launch of Its Preliminary Economic Assesment’s Work

May 08, 2019 14:44 ET | Source: Maya Gold & Silver Inc.

Tungsten mineralization Main mine drift at Level 1488

Tungsten mineralization Main mine drift at Level 1488
Maya Or & Argent inc.
Chalcopyrite in drift at Level 1488 Main mine

Chalcopyrite in drift at Level 1488 Main mine
Maya Or & Argent inc.
Molybdenite from Izarifen drift

Molybdenite from Izarifen drift
Maya Or & Argent inc.
Underground sampling by joint Geological team

Underground sampling by joint Geological team
Maya Or & Argent inc.
Maya’s Geological team with GMG

Maya’s Geological team with GMG
Maya Or & Argent inc.
Walking the ground mineralized sector with granite on the other side of the river with younger sedimentary rock in the background

Walking the ground mineralized sector with granite on the other side of the river with younger sedimentary rock in the background
Maya Or & Argent inc.

MONTREAL, May 08, 2019 (GLOBE NEWSWIRE) -- Maya Gold & Silver Inc. (“Maya” or the “Corporation”) (TSX: MYA) is pleased to inform its shareholders about positive findings at Azegour.

Maya’s geological team accompanied by the independent consultant GoldMinds examined all accessible ground deposits and underground drifts at Azegour. Samples of the various mineralizations were collected and an elaborated program has been prepared. The assays results will be disclosed in the future. The samples were delivered to Afrilab of Marrakech. A laboratory site visit and inspection took place during the delivery of the Azegour samples.

The exploration and development program is expected to include surveying of accessible drifts, scanning of stopes, securing of accesses, channel sampling, dewatering of lower levels, scaling, UG percussion drilling, surface diamond drilling and metallurgical testing.

Maya’s geologist concludes that it is now obvious that the previous operators did not exploit all the mineralizations, especially the Scheelite which have been followed along hundreds of meters with widths of 5 up to 35m at various levels of the main mine. The Scheelite, a tungsten mineral which reacts to UV light is visible as a Milky way using Ultra Violet light underground as well as lenses of chalcopyrite and molybdenite in various sections of the mine and in drifts to the north.

Noureddine Mokaddem Founder, President and CEO comments: The findings of our geological team give us comfort that Azegour can become another important asset of Maya. We expect to initiate the work program in mid-June and will continue until PEA is announced during Q4-2019.

Qualified Persons

The technical content of this news release has been reviewed by Claude Duplessis Eng., from GoldMinds Geoservices Inc. independent Qualified Persons under NI 43-101 standards.

About Azegour

The Azegour property is located in the Tizguine-Amizmiz-Azegour area, High Atlas Occidental, Province of Marrakech, Kingdom of Morocco. The property is situated 54 km NNE from the town of Marrakech and 7.2 km WSW from the town of Amizmiz. The Exploitation Licence (PE 183208) covers an area of 16 km2 (4 km x 4 km) (Figure 1). The center of the property is situated at 8° 18’ 14” West Longitude and 31° 09’ 33” North Latitude, or at coordinates: Easting= 222924, Northing= 66813 (North Morocco, Merchich) reaching an elevation of 1597 m ASL. The boundary stone (Point de Pivot) for permit no. PE 183208 is established at coordinates Easting= 221291 and Northing= 71511 (North Morocco, Merchich). The Exploitation Permit entitles the holder to work the deposit and dispose of the substances, herein Mo, W, Cu, Pb and Zn and provides legal access to the property. It is valid for a period of four years and was renewed on July 2015 until July 16, 2019; further renewal is underway.

Under the terms of an agreement dated March 2, 2011 between Maya Gold and Silver Inc. and Ouiselsat Mines, Maya acquired 100% interest of the Exploitation Permit 183208 and all the outstanding data for a total consideration of 20 million Dirhams (approximately $2.5 million) and the issuance of 500,000 common shares of the Company in favor of Ouiselsat. The Seller retains a 2.5% royalty on sales of metal. The share issuances and payments were completed during one year following the acquisition.

Historical production

From 1926 to 1956, the Azegour mine yielded 1,331 t of (MoS2), 5,646 t of chalcopyrite (CuFeS2), 27 t of scheelite (CaWO4) and 1.55 t of U3O8*.

In 1984, an historical resource* was established at 1M t @ 0.34 to 0.40 wt. % MoS2, 100,000 t @ 1.90 wt. % Cu and 2M t at 0.40 to 0.35 wt. % WO3*. (Lehmann, 1979; Japan International Agency Company, 1984).

*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Issuer or the writer. These historical mineral resources do not refer to any category of the NI-43-101 Instrument. The explanation lies in the inability by the author to verify the data. The Issuer has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves. Therefore, the Issuer is in the opinion that the above quoted resources for the Azegour deposit cannot be relied upon.


Maya Gold & Silver Inc. is a publicly traded Canadian company focused on the operation, exploration and development of gold and silver deposits in Morocco. Maya is currently operating mining and milling operations at its Zgounder Mine, an 85%-15% split ownership between its subsidiary, ZMSM, and the ONHYM of the Kingdom of Morocco.

Its portfolio also considers the Boumadine polymetallic deposit located in the Anti-Atlas Mountains of Eastern Morocco. The property is also a joint venture with ONHYM, whereby Maya retains an 85% ownership.

The Maya portfolio also includes the Amizmiz and Azegour properties, both being 100% owned, with gold, tungsten, molybdenum and copper deposits covering over 100 square kilometres in a historical mining district

Forward-looking statements

This news release contains statements about future events or future performance and reflects management’s current expectations and assumptions. These are "forward-looking" because we have used what we know and expect today to make a statement about the future. Forward-looking statements usually include words such as may, intend, plan, expect, anticipate, and believe or other similar words. We believe the expectations reflected in these forward-looking statements are reasonable. However, actual events and results could be substantially different because of the risks and uncertainties associated with our business or events that happen after the date of this news release. You should not place undue reliance on forward-looking statements. As a general policy, we do not update forward-looking statements except as required by securities laws and regulations. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in the Corporation’s filings with SEDAR.

Photos accompanying this announcement are available at

On behalf of the Board:  Noureddine Mokaddem Founder, President & CEO +1 514-978-6111/+212 661-196-111

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To: LoneClone who wrote (15885)5/12/2019 5:57:12 PM
From: LoneClone
   of 17260
[Chromium] Noront Selects Sault Ste. Marie Site for Ferrochrome Production Facility

May 07, 2019 11:05 ET | Source: Noront Resources Ltd.

Preliminary Activity Schedule

Preliminary Activity Schedule
Noront Resources Ltd.

TORONTO, May 07, 2019 (GLOBE NEWSWIRE) -- Noront Resources Ltd. (“Noront” or the “Company”) (TSX Venture: NOT) has selected the Algoma Steel Inc. site in Sault Ste. Marie for its Ferrochrome Production Facility (FPF). The Timmins Kidd Metsite is no longer being considered.

Four communities participated in the initial bidding process which began in February 2018. All submissions were evaluated based on a comprehensive set of criteria determined by Noront and the engineering firm Hatch, which was engaged to assist in the adjudication process. Critical factors included environmental and site suitability, capital costs, operating costs and an assessment of community acceptance for hosting the facility.

Sudbury and Thunder Bay were eliminated in July of 2018. After a thorough and rigorous analysis of the two remaining sites in Sault Ste. Marie and Timmins, the Timmins Kidd Metsite was eliminated as well. A further refinement of the operating and capital costs of the final sites was completed with the following results:

  • Timmins is the slightly lower capital cost option; and
  • Sault Ste. Marie has a lower operating cost per pound of chrome in ferrochrome.

  • The two sites are similar on a discounted NPV (net present value) basis, but on a cash flow basis, when a potential 100-year life for project is accounted for, the analysis favours Sault Ste. Marie.

    “It was a very difficult decision because both cities submitted excellent proposals,” said Noront President and CEO Alan Coutts. “In the end we were persuaded to go with Sault Ste. Marie because it is located on the Great Lakes and offers a lower long-term operating cost advantage.”

    Sault Ste Marie Mayor Christian Provenzano commented, “This establishes what we know to be true: Sault Ste. Marie is a great place to do business. I want to recognize the efforts of the FPF project team, the support of the executive leadership at Algoma Steel, and the support of MP Sheehan, MPP Romano, Batchewana First Nation Chief Sayers and Garden River First Nation Chief Syrette. I also want to ensure our community and our Indigenous partners that we are committed to substantial consultation and engagement as we move forward.”

    “Our government is committed to growing the economy, creating good jobs, and most importantly, ensuring that Northern Ontario is open for business,” said Greg Rickford, Minister of Energy, Northern Development and Mines. “Today’s announcement confirms that commitment. Congratulations to Noront Resources and the City of Sault Ste. Marie.”

    The next step will be to finalize the development plan and timelines for an all-season road to the Ring of Fire with the provincial government and their community partners. Noront anticipates a lengthy and comprehensive FPF environmental permitting process which will allow the Company to engage in a fulsome way with the citizens of Sault Ste. Marie and other stakeholders including environmental groups and First Nations.

    The following preliminary schedule for activities (milestones) is subject to financing:

    Noront Ferrochrome Production Facility
    Preliminary Activity Schedule
    Q2 2019Site Selection
    Q2 2020Blackbird/FPF Preliminary Economic Assessment
    Q2 2022Blackbird/FPF Prefeasibility Study (PFS)
    Updated Tenancy Agreement
    Q4 2024Blackbird/Feasibility Study (FS) and Environmental Assessment (EA)
    Q2 2025Project Permits/Approvals/Funding
    Project Construction Initiated
    Q2 2028Project Commissioned

    A photo accompanying this announcement is available at

    About Noront Resources
    Noront Resources Ltd. is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire.

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

    For more information:
    Janice Mandel

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    To: LoneClone who wrote (15886)5/12/2019 6:03:25 PM
    From: LoneClone
       of 17260
    [Lithium] Global Battery Metals announces exploration activities on both Northwest Leinster Project in Ireland and The Fortner-Boyd lithium project in Arizona

    May 08, 2019 08:30 ET | Source: Global Battery Metals Ltd.
    Mr. Michael Murphy reports:

    VANCOUVER, British Columbia, May 08, 2019 (GLOBE NEWSWIRE) --

    Northwest Leinster Project Update:
    Global Battery Metals Ltd. (formerly Redzone Resources Ltd.) (the “Company” or “Global Battery Metals”) (TSXV: GBML) announces the next phase of work on the Northwest Leinster Project has now commenced. This work is in addition to the Due Diligence activities as described in the GBM-LRHR Agreement (dated October 23rd, 2018).

  • Activities planned include verification of selected regional stream sediment sites, eight lines of soil sampling and focused prospecting.
  • Six soil lines intended for the Aghavannagh target, and 1 line each intended for the Scurlocks and Sorrel targets.
  • The stream sediment work will improve confidence in the selection of targets that warrant follow-up work.
  • We will sample and analyze multiple soil horizons for the best anomaly contrast.
  • Detailed prospecting at the Knocknaboley will target favourable lithogeochemistry from the first-pass exploration.
  • Planned work at Aghavannagh should provide most of the information required to lay out drill holes and to determine the methodologies and extent of follow-up surveys on other targets.
  • A limited geophysical survey may be completed at Aghavannagh depending on soil sampling results.
  • The planned work at the Sorel, Scurlock, and Knocknaboley targets will help determine the nature and extent of further pre-drilling activities.

  • Fortner-Boyd Project Objective Updates:

    Drilling to investigate grade and thickness of the mineralization:

  • Define grade and thickness of pegmatite dyke on nine sections along strike
  • Test depth continuity up to 150ft vertical (on nine sections) and up to 225ft vertical on 3 of the sections
  • Gathered mineralized material will be used for preliminary mineralogical and metallurgical testing;
  • Test northern and southern extensions of the outcropping main Lucky Mica dyke;
  • Drilling sequence will be focussed on investigating economic grades observed from surface grab samples;
  • Under Pit area in northern portion of the dyke;
  • Under center portion of the dyke;
  • Samples from the first three holes will be rush assayed to facilitate adjustments to the drilling campaign;
  • Completion of the full program will be pending results from initial holes
  • Logging and supervision of the campaign will be under close supervision from Jean-Philippe Paiement, P.Geo. , MSc (GBML Director)

  • For further information please contact:
    Michael Murphy, President & CEO, 1-604-649 2350

    Sherman Dahl, Pretium Group, 250-558 8340
    About Global Battery Metals Ltd.

    Global Battery Metals is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. The Company currently has five projects: (1) the Fortner-Boyd lithium project in Arizona, (2) the North-West Leinster lithium property in Ireland, (3) a 55-per-cent stake in the Lara copper project in Peru which has over 10,000 metres of drilling, (4) the Pine vanadium property in British Columbia, and (5) the Wells vanadium property in B.C. Global Battery Metals maintains a strong treasury of $1.4 million and tight share structure of 32,175,839 shares. With multiple projects and a management team led by Michael Murphy who has a track record of finding world-class projects, Global Battery Metals is strategically set to be a significant player in the global resource world.

    We Seek Safe Harbor.

    Neither the TSX Venture Exchange nor it's Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and/or accuracy of this release

    Forward-Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties including without limitation, the risk that the Offering may not be completed, as to the size of the Offering, whether it will be fully subscribed, insider participation and proposed uses of proceeds. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the availability of financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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    To: LoneClone who wrote (15887)5/12/2019 6:10:32 PM
    From: LoneClone
       of 17260

    Alba Enters into Definitive Agreement for Torado Vanadium and Uranium Project: 100% Interest in 5 Prospective Vanadium and Uranium Properties with Historic Production and a 6th Option for a Property with a Known Historic Resource

    Tuesday, May 7, 2019 1:55 AM

    VANCOUVER, BC / ACCESSWIRE / May 7, 2019 / Alba Minerals Ltd. ("Alba") (TSX - Venture: AA / Frankfurt: A117RU / OTC: AXVEF is pleased to announce that it has entered into an agreement with Journey Exploration Inc. ("Journey"), a private arms' length company, to acquire all of the issued and outstanding share capital of Journey. Journey holds a 100% interest in 5 prospective vanadium and uranium properties in Colorado and Utah in addition to an option to acquire 100% of a 6th property with a known historic resource. The properties are in and adjacent to the Uravan Mineral Belt which has seen extensive prospecting, exploration, drilling for and production of vanadium, uranium and radium since 1881.

    The following is an overview of the assets that will be acquired by Alba upon completion of the transaction with Journey.

    Figure 1 – Satellite view of locations of the 6 vanadium-uranium properties transferred by the agreement.

    La Sal West Property
    The La Sal West Property is comprised of 176 vanadium and uranium claims (3636.16 acres or 1472 hectares) located in the La Sal District of San Juan County, Utah approximately 20 miles (32km) southeast of Moab, Utah. The property is near the junction of US Highway 191 and Utah Highway 46 and can be easily accessed via dirt roads and 4-wheel drive trails leading off the highways. The La Sal West Property has seen considerable exploration and development over the years.

    Lyons Property
    The Lyons Property is comprised of 144 vanadium and uranium claims (2975.04 acres or (1204 hectares) located in the La Sal Creek Mining District of Montrose County, Colorado and abuts the Utah-Colorado border. The claims are adjacent to Colorado Highway 90, which is an extension of Utah Highway 46. The property is accessible by 4-wheel drives off the highway. Nine mines are shown within the Lyons claim block on the geologic map of the La Sal Quadrangle*.

    Polar Mesa Property
    The Polar Mesa Property is comprised of 181 vanadium and uranium claims (3,739.46 acres or 1513 hectares) located in the Gateway West Mining District of Grand County, Utah which lie north of the La Sal mountains. The Polar Mesa Property has seen extensive exploration and development over the years, of which, the estimated production from the Polar Mesa Camp to 1945 was reported to be 10,060 tons of ore at an estimated grade of 3.24% V2O5 and 0.46% U3O8 for a ratio of 1:7 of U3O8 to V2O5**.

    Slick Rock Property
    The Slick Rock Property is comprised of 158 vanadium and uranium claims (2604.28 acres or 1054 hectares) located in the Slick Rock Mining District of San Miguel County, Colorado. The claims occupy an area of undulating topography on a mesa that is covered in the most part by open grassy areas and scattered short scrubby trees. Elevation ranges from 7,000ft in the north to 8,080ft (2,130m – 2,460m) in the south eastern corner of the claim group. The area is readily accessible by roads, tracks and drill trails established by previous miners and explorers of the Spud Patch Group of Mines. Production from the Spud Patch area between 1940 and 1951 is reported to have been 24,000 tons at a grade of 2.2% V2O5 and 0.21% U3O8.

    Yellow Circle Property
    The Yellow Circle Property is comprised of 96 vanadium and uranium claims (2045.34 acres or 828 hectares) located in the Yellow Circle Mining District of San Juan County, Utah. Total production from the Yellow Circle Property is unknown, but in 1943 the mines were credited with 1,624 tons of ore averaging 1.65% V2O5***. During the Atomic Energy Commission's purchase program, 1948-70 inclusive, the Yellow Circle Mines produced 43,070 tons of ore that averaged 0.28% U3O8 and 1.52% V2O5****.

    Wray Mesa Property
    The Wray Mesa Property consists or two project areas, the Ajax and Dylan Projects, in the La Sal Trend of southeast Utah and southwest Colorado. The Ajax and Dylan are both located on the Utah side. Both projects have historic resource calculations conducted by Homeland Uranium, Inc. in 2007. At that time Homeland was focused on the uranium mineralization due to its higher value. They calculated the resource values listed in Table 1.

    Table 1 – Homeland Uranium Inc. historic resource estimates.

    Measured Resource
    Pounds U3O8

    Indicated Resource
    Pounds U3O8

    Inferred Resource
    Pounds U3O8









    As with other deposits in the region, these deposits also carry strong vanadium values with ratios ranging from 4:1 to 14:1 V2O5:U3O8 and averaging 6:1 for deposits in the La Sal Quadrangle (Carter and Gualtieri, 1965).

    The above values are presented here as documentation of a historical estimate for the Wray Mesa property. It is believed that these resource figures were created in 2007 by competent practitioners and are considered accurate for the timeframe in which they were created but have not been verified. There is insufficient information for the Qualified Person to classify these historical estimates as a resource under current CIM mineral resource standards and Alba is not treating them as current mineral resources.

    Figure 2 – One of many accessible adits on the Yellow Circle claims.

    Together, the properties total 762 mining claims covering approximately 15,697 acres (6352 hectares). All six of the properties have undergone historical exploration, development and/or production of vanadium and uranium.

    Figure 3 – Vanadium mineralization (dark grey to black coloration) in one of the Yellow Circle underground workings.

    These five properties (with option to acquire the 6th, Wray Mesa Property) are collectively referred to as the Torado Vanadium & Uranium Project. which are located in the vicinity of Energy Fuels Inc. Energy Fuels is currently producing a high-purity vanadium product at commercial rates from the tailings pond solutions at its 100%-owned White Mesa Mill (the "Mill"). The Mill is located within trucking distance of the Properties. Furthermore, Energy Fuels is currently considering going back into full production at the La Sal Complex where they are undergoing a test-mining program to recover vanadium, as further detailed in their release dated April 1, 2019 and available through SEDAR.

    "Alba's mission to become a global player in the Green Energy revolution has been significantly advanced by this acquisition. The procurement of this high-profile portfolio of properties, all with historical workings, mines, excellent infrastructure and significant data is exceedingly rare and makes Alba a major force in the vanadium/uranium exploration, development and production space in Utah and Colorado. This acquisition complements Alba's existing portfolio of lithium properties as well as our significant investment in Noram's 143 million ton lithium resource in Clayton Valley, Nevada" stated Sandy MacDougall, Chairman and Director.

    Journey is presently comprised of 32,000,000 shares issued and outstanding. Pursuant to the share exchange agreement dated May 6, 2019, Alba will acquire all of the issued and outstanding shares of Journey, thereby making Journey its wholly owned subsidiary, in consideration for which, Alba will issue the equivalent number of shares of Alba to the shareholders of Journey, subject to TSX Venture Exchange approval

    This transaction remains subject to TSX Venture Exchange approval.

    *Carter and Gualtieri, 1965
    ** Atomic Energy Commission, 1951
    *** Huleatt, et al. 1946
    **** Chenowith 1983

    Figure 4.- example of historic cart tracks inside mines.

    Figure 5 – example of infrastructure & workings inside mines

    The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to the Torado Vanadium & Uranium Project as defined under National Instrument 43-101.

    About Alba Minerals Ltd.
    Alba Minerals Ltd. is a Vancouver-based junior resource company with projects in North and South America. Alba is focused on the development of the following mineral properties:

    3,800,000 common share ownership interest in Noram Ventures Ltd., a lithium exploration and development Company with a principal property known as the Zeus Property which hosts a 146,000,000 ton inferred resource in Clayton Valley, Nevada.

    The Quiron II Lithium Property consists of 2,421 hectares of prospective lithium exploration in the Pocitos Salar, Province of Salta, Argentina. The Property is located approximately 12 km northeast from the Liberty One Lithium Corp and 19 km from Pure Energy Minerals Ltd.'s Pocitos prospects.

    The Chascha Norte property consists of 2,843 hectares of prospective lithium exploration in the Southeastern part of the Salar de Arizaro, Salta, Argentina in closest vicinity to Argentina Lithium & Energy Corporation's and Lithium X's Arizaro lithium brine projects.

    The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the Washoe County Nevada.

    The Muddy Mountain property consists of 450.41 hectares of prospective lithium exploration in Muddy Mountains of Clark County, Nevada.

    Please visit our web site for further information: .


    "Sandy MacDougall"
    Chairman & Director
    Phone: (778) 999-2159

    This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.

    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: Alba Minerals Ltd.

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    To: LoneClone who wrote (15888)5/12/2019 6:13:42 PM
    From: LoneClone
       of 17260
    [Lithium] Lepidico and Desert Lion to Merge

    Desert Lion Energy May 07, 2019, 07:00 ET

    Lepidico 1 for 9 Entitlements Offer to Fund Business Integration, New Development and Growth Opportunities

    TORONTO, May 7, 2019 /CNW/ - Desert Lion Energy Inc (TSXV: DLI) ("Desert Lion") is pleased to announce that on May 5, 2019 it entered into a definitive arrangement agreement (the "Arrangement Agreement") with ASX-Listed Lepidico Limited (ASX: LPD) ("Lepidico") whereby Lepidico, an arm's length party from Desert Lion, will acquire all of the outstanding common shares of Desert Lion for 5.4 Lepidico shares for every 1 Desert Lion share (The "Transaction"). No finder's fee is payable in connection with the Transaction. The Transaction is anticipated to create a vertically integrated lithium development company from mine to chemical conversion plant by combining Lepidico's leading proprietary lithium processing technologies with Desert Lion's lepidolite Mineral Resources and extensive exploration package.

    The agreed exchange ratio represents a premium of either 38% based on the closing price of Lepidico and Desert Lion shares on 3 May 2019 or 39% based on the 10 trading day volume weighted average price of the shares. Directors and officers of Desert Lion representing 17% of Desert Lion's shares on issue have entered into voting and support agreements to vote in favour of the Transaction.

    Transaction Highlights

    • The Transaction will combine two companies with highly complementary assets to create an integrated lithium business which has:
      • Lepidico's innovative L-Max®, LOH-MaxTM and S-MaxTM proprietary process technologies and offtake arrangement with Mota Ceramic Solutions ("MCS") from the operational Alvarrões lepidolite mine in Portugal.
      • Desert Lion's Rubicon and Helikon deposits in Namibia and partially developed lepidolite concentrator. Mineral Resources – Indicated 3.0Mt @ 0.63% Li2O & Inferred 5.8Mt @ 0.53% Li2O (see section 14 of Desert Lion's NI 43-101 Technical Report dated November 28, 2018, as amended and restated on December 7, 2018, for more information);
      • Lepidico's pilot plant with L-Max® and S-MaxTM capability, which is in the commissioning phase, and the Phase 1 Plant Project, at the advanced stages of feasibility study which contemplates output capacity of 5,000tpa lithium hydroxide;
      • Battery grade lithium carbonate of 99.8% purity produced from Desert Lion lepidolite mineralisation in L-Max® amenability trial; and
      • Desert Lion's non-binding offtake agreement for lithium hydroxide with chemicals and materials multination corporation BASF SE.
    • Lepidico will also undertake a 1 for 9 pro-rata renounceable Entitlements Offer at an issue price of A$0.029 to raise up to A$10.8 million for business integration, new development and growth opportunities, with one (1) free attaching option for every two (2) new shares issued under the offer. The Entitlements Offer is scheduled to close on 29 May 2019.
    • The merged company will be called Lepidico Ltd and will continue to be headquartered in Perth, Australia. No changes to Lepidico's Board of Directors are planned.
    Proposed Merger of Lepidico and Desert Lion

    The Transaction will be effected by way of a statutory plan of arrangement pursuant to the Business Corporations Act (Ontario). Under the terms of the Transaction, Desert Lion shareholders will exchange each of their Desert Lion shares for 5.4 ordinary shares of Lepidico. Following the completion of the Transaction, Lepidico will maintain its primary listing on the ASX under the code "LPD", and the Desert Lion common shares will be delisted from the TSXV.

    Each option of Desert Lion will be exchanged for a replacement option of Lepidico reflecting the exchange ratio and any outstanding warrants and convertible notes of Desert Lion will be adjusted to allow for the acquisition of Lepidico ordinary shares upon their exercise (also reflecting the exchange ratio). Desert Lion securityholders will hold approximately 15.9% of the shares in the combined company and 19.8% on a fully diluted basis (prior to the effects of the planned entitlements offer).

    The Transaction is subject to regulatory, court, Desert Lion shareholder approval and Lepidico shareholder approval (if required), together with other customary conditions. The written consent of a majority of the holders of Desert Lion's convertible debt has been obtained and is a condition of closing of the Transaction.

    Lepidico has received confirmation from ASX that the proposed transaction does not attract any requirements under Chapter 11 of the ASX Listing Rules. Lepidico will seek a waiver from Listing Rule 7.1 (in relation to the issue of securities the subject of the proposed transaction) on the basis that Listing Rule 7.2 (exception 5) should apply to the transaction. If the waiver is granted by ASX, Lepidico will not need to seek any shareholder approvals in relation to security issues to be made under the Desert Lion transaction.

    As part of the process in the approval of the Arrangement Agreement, the directors of Desert Lion received an opinion from its financial advisor, INFOR Financial Inc., that the consideration to be received is fair, from a financial point of view, to shareholders of Desert Lion. Directors and officers of Desert Lion representing 17% of Desert Lion's shares on issue have entered into voting and support agreements to vote in favour of the Transaction. Convertible note holder, AIP Global Macro Fund L.P., has also indicated its support for the transaction.

    A Desert Lion management information circular setting out the terms of the Transaction, as well as further information regarding the Transaction and the combined company, is expected to be circulated to all Desert Lion shareholders in June 2019. A special meeting of Desert Lion shareholders to consider the Plan of Arrangement is expected to be held in July 2019 and the Transaction is expected to be implemented in July 2019.

    The Arrangement Agreement includes customary provisions, including a commitment by Desert Lion not to solicit alternative transactions to the Transaction, subject to the right of Desert Lion to accept a superior proposal in certain circumstances, with Lepidico having a five business day right to match any superior proposal. Each company has agreed to pay a termination fee to the other party equal to C$1 million in certain circumstances.

    "The transaction with Lepidico represents a significant advancement for the Desert Lion Energy Project," commented Tim Johnston, CEO of Desert Lion Energy Inc. "The combination of Desert Lion Energy's lepidolite assets with Lepidico's advanced L-Max® and LOH-MaxTM processing technology will enable the acceleration of lithium chemical production."

    Lepidico Managing Director Joe Walsh said, "Closing of these transactions announced today will be transformative for Lepidico. They will allow it to advance its technologies and projects, demonstrate the commercial viability of L-Max® and LOH-MaxTM, and hopefully become a globally significant, vertically integrated lithium chemical producer. The Desert Lion transaction will provide Lepidico with a direct controlling interest in its first quality lepidolite deposit under an awarded mining license, providing a clear path to development."

    Following completion of the Transaction, it is expected that the combined company will conduct a feasibility study to establish mineral reserves and to determine the economic and technical viability of production.

    Indicative timetable for merger completion

    Announcement of the Transaction

    6 May 2019

    Dispatch of Desert Lion's Circular to Desert Lion shareholders

    June 2019

    Desert Lion Company Meeting

    July 2019

    Implementation of merger

    July 2019

    Summary of assets and attributes

    Lepidico Ltd

    Desert Lion Energy Inc.

    L-Max®, LOH-MaxTM and S-MaxTM proprietary process technologies

    Desert Lion Mineral Resources at Rubicon and Helikon deposits in Namibia of Mineral Resources – Indicated 3.0Mt @ 0.63% Li2O & Inferred 5.8Mt @ 0.53% Li2O plus tantalum credit (NI 43-101) (see section 14 of Desert Lion'sNI 43-101 Technical Report dated November 28, 2018, as amended and restated on December 7, 2018, for more information)

    Pilot plant with L-Max® and S-MaxTM capability is in the commissioning phase – plant developed on schedule and within budget before contingency

    10 year Mining Licence granted 20 August 2018 over 68.7km2 for mine and lithium mica concentrator development

    Phase 1 Plant Project is in the advanced stages of feasibility study – engineering for Li2CO3 production complete, engineering for LiOH capability to commence June 2019

    Prospecting Licences covering approximately 1,000km2, prospective for LCT type pegmatites

    Phase 1 Plant Abu Dhabi location trade off study offers potential for fast track to development with enhanced economics versus Sudbury, Canada

    Infrastructure: all weather road, water bore-field, water licence, 14 bed camp and laboratory, and materials to construct 7km 22kV power line spur to grid

    Research & development capability to evaluate further identified value add process technologies

    Two mills and flotation tanks partially refurbished, suitable for a lithium mica concentrator with output capacity of approximately 70,000tpa

    Offtake arrangement with MCS for production from the operational Alvarrões lepidolite mine in Portugal

    Memorandum of Understanding with BASF SE supply of lithium hydroxide for production of high nickel cathode

    Well capitalised with A$4.9 million cash and no debt as at 31 March 2019

    Testwork by Strategic Metallurgy produced battery grade lithium carbonate using L-Max® from Desert Lion mineralisation

    Strategic Rationale for Proposed Merger

    Lepidico and Desert Lion share a similar strategic objective: to get to free cash flow generation as swiftly as possible by developing a scalable, vertically integrated new lithium chemical business based on lithium mica and lithium phosphate minerals.

    Desert Lion's assets provide a platform to advance a mine and lepidolite concentrator into development. Importantly, Desert Lion has already secured a Mining Licence for a similar development, thereby substantially reducing permitting risk and providing an opportunity to rapidly transition to development. Furthermore, Desert Lion has acquired and is in the process of refurbishing two mills and two banks of flotation cells, which could reduce the capital cost of the concentrator.

    L-Max® amenability testwork undertaken on a sample of Desert Lion lepidolite mineralisation returned excellent results, with a lithium extraction of 94% from concentrate and production of lithium carbonate with 99.8% purity.

    Lepidico recently extended the scope of the Phase 1 Plant Feasibility Study (the "Study") to include a LOH-MaxTM circuit for the production of lithium hydroxide, as well as the evaluation of a plant development in the Industrial City of Abu Dhabi (ICAD). The Study will, however, continue to contemplate the base case scenario of Sudbury, Canada for the Phase 1 Plant until the ICAD trade-off study is complete, scheduled for the second half of 2019. Lead Study consultant, Minmet Services, has advised of material capital and operating cost benefits associated with developing the Phase 1 Plant at ICAD and a separate study has revealed that local markets exist for L-Max® and S-MaxTM by-products. Engineering for the LOH-MaxTM circuit is expected to be completed by Lycopodium in December 2019, which will also take into account the change in location. Finally, ICAD promotes a "plug and play" philosophy for new developments, allowing for rapid permitting and approvals. This is in part afforded by having world class established infrastructure, including power, gas, water and developed roads, storage and logistic hubs that have quick and easy access to multiple ports and airports.

    Results for the integrated Phase 1 Plant Feasibility Study are now scheduled for completion in the March 2020 quarter. This will incorporate a new mine plan for Alvarrões based on the recent Mineral Resource upgrade, a mine design for the Desert Lion project following a planned intensive drill programme intended to upgrade the Mineral Resource, the following transaction close and a re-engineered Phase 1 lithium hydroxide chemical plant designs for both ICAD and Sudbury.

    Entitlements Offer

    • 1 for 9 renounceable rights issue to raise up to A$10.8 million
    • Attractively priced at A2.9 cents per share
    • Discount of 26% to the 10 day volume weighted average share price and 24% to the closing share price on 3 May 2019
    • With every two new shares issued, shareholders will receive one free attaching option
    • New options will be listed, have an exercise price of A5.0 cents and a term of three years ("New Options")
    • Shareholders can trade their rights and apply for additional shares and options
    • Rights to start trading from 10 May 2018
    • Galaxy Resources Ltd & Bacchus Capital Advisors plan to take up their full entitlements
    • Directors of Lepidico intend to participate
    • Funds will be used for Business integration, new development and growth opportunities
    Shares under the Entitlements Offer (each, a "New Share") will be issued at A$0.029 per New Share. The maximum number of New Shares which will be issued under the Entitlements Offer is 372,908,354 to raise up to approximately A$10,814,342 (before expenses, based on the current capital structure of Lepidico). New Options will be listed, have an exercise price of A$0.05 and a three year term.

    New Shares issued under the Entitlements Offer will rank equally with existing shares and Lepidico will apply for official quotation of the New Shares and New Options.

    Lepidico confirms it is in compliance with its continuous disclosure obligations.

    The Entitlement Offer is partially underwritten by Lead Manager CPS to A$3.0 million.

    It is intended that the proceeds of the Entitlements Offer will fund the integration of the Desert Lion business post-merger, including the evaluation of a mine and concentrator development at the Desert Lion Project, for incorporation into the Phase 1 Plant Feasibility Study. In the event that the Plan of Arrangement does not complete, these proceeds will be used by Lepidico for the acquisition of alternative lithium assets and Mineral Resource development.

    If sufficient proceeds are raised from the Entitlements Offer, Lepidico will use these additional proceeds to: undertake LOH-MaxTM engineering and revised location evaluation for the Phase 1 Plant Feasibility Study; undertake further L-Max® and LOH-MaxTM product development work; accelerate drilling activities at Alvarrões in Portugal and other exploration; working capital; and expenses of the offer.

    The Entitlement Offer price of A$0.029 per New Share represents a 24% discount to the last traded price of Lepidico's shares being A$0.038 on 3 May 2019, and a 26% discount to the 10-day volume weighted average price of Lepidico's shares.

    All Directors who hold Shares currently intend to participate in their personal capacity to the fullest extent possible, subject to funding.

    The Company has been advised that Galaxy Resources Ltd (ASX: GXY) intends to take up its full entitlement in the Entitlements Offer. In addition, Bacchus Capital Advisers Ltd, Lepidico's financial adviser, has advised its intention to take up its rights under the Entitlement Offer.

    The timetable for the Entitlement Offer is as follows:

    Lodgement of prospectus with ASIC and ASX

    7 May 2019

    Notices sent to option holders

    7 May 2019

    Notices sent to shareholders

    9 May 2019

    Ex-date, rights start trading

    10 May 2019

    Record Date for determining Entitlements

    13 May 2019

    Prospectus sent to shareholders & Company announcement this has been completed

    14 May 2019

    Rights stop trading

    22 May 2019

    Shares quoted on a deferred settlement basis

    23 May 2019

    Last date for Closing Date to be extended

    24 May 2019

    Closing Date*

    29 May 2019

    ASX notified of under subscriptions

    31 May 2019

    Issue date / shares entered into shareholders' security
    holdings / deferred settlement trading ends

    5 June 2019

    Quotation of shares and options issued under the
    Entitlements Offer*

    6 June 2019

    * The directors of Lepidico may extend the Closing Date by giving at least three business days' notice to ASX prior to the Closing Date. As such, the date the New Shares are expected to commence trading on ASX may vary.


    Bacchus Capital Advisers Ltd is acting as Lepidico's exclusive financial adviser, and Stikeman Elliott LLP and Steinepreis Paganin are acting as Lepidico's legal advisers.

    INFOR Financial Inc. is acting as Desert Lion's exclusive financial adviser, and Fasken Martineau DuMoulin LLP is acting as Desert Lion's legal adviser.

    Shares for Debt Settlement

    Desert Lion is also pleased to announce that it intends to issue 27,473 common shares of Desert Lion (the "Common Shares"), at an effective price per share of C$1.82 in payment of C$50,000 of certain additional obligations owed in connection with its acquisition of Exclusive Prospecting License 5718.

    In accordance with applicable securities laws, the Common Shares issued will be subject to the approval of the TSX Venture Exchange and will be subject to a hold period of four months and one day from the date of completion of the debt settlement.

    About Desert Lion Energy Inc.
    Desert Lion Energy is a Toronto based emerging lithium development company focused on building Namibia's first large-scale lithium mine located near the town of Karibib approximately 210 km from the nation's capital of Windhoek and 220 km from the Port of Walvis Bay (the "Desert Lion Project"). Desert Lion's Rubicon and Helikon mines, which have been mined intermittently for petalite and tantalum since the 1930's, are located within a prospective land package covering approximately 1,000 km2. The project site is accessible year-round by road and has access to power, water, rail, port, airport and communication infrastructure. Desert Lion has delineated a NI 43-101 Mineral Resource estimate at Rubicon and Helikon of Indicated 3.0Mt @ 0.63% Li2O and 59ppm Ta2O5 & Inferred 5.8Mt @ 0.53% Li2O and 59ppm Ta2O5 (see section 14 of Desert Lion's NI 43-101 Technical Report dated November 28, 2018, as amended and restated on December 7, 2018, for more information).

    About Lepidico Ltd
    Lepidico Ltd is an ASX-listed company focused on exploration, development and production of lithium chemicals. Lepidico owns the technology to a metallurgical process that has successfully produced lithium carbonate from non-conventional sources, specifically lithium-rich mica minerals including lepidolite and zinnwaldite. The L-Max® Process has the potential to complement the lithium market by adding low-cost lithium carbonate supply from alternative sources. More recently Lepidico has added LOH-MaxTM to its technology base, which produces lithium hydroxide from lithium sulphate without by-produce sodium sulphate. Lepidico is currently conducting a Feasibility Study for a 5,000 tonne per annum Phase 1 lithium chemical plant. Work is currently being undertaken to evaluate the incorporation of LOH-MaxTM into the Phase 1 Plant Project flow sheet. Lepidico has entered into an access agreement in Portugal with owner-operator Mota Ceramic Solutions (ASX announcement of 7 December 2017).

    Lepidico's current exploration assets include a farm-in agreements with Venus Metals Corporation Limited (ASX:VMC) over the lithium mineral rights at the Youanmi Lithium Project in Western Australia. Lepidico also has a Letter of Intent with TSX listed Avalon Advanced Materials Inc. for planned lithium mica concentrate supply from its Separation Rapids Project in Ontario, Canada.

    Qualified Persons Consents
    The information in this report that relates to the Alvarrões Mineral Resource estimate is based on information compiled by John Graindorge who is a Chartered Professional (Geology) and a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". John Graindorge is a full-time employee of Snowden Mining Industry Consultants Pty Ltd and consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

    The information in this report that relates to Lepidico Exploration Results is based on information compiled by Mr Tom Dukovcic, who is an employee of Lepidico and a member of the Australian Institute of Geoscientists and who has sufficient experience relevant to the styles of mineralisation and the types of deposit under consideration, and to the activity that has been undertaken, to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves." Mr Dukovcic consents to the inclusion in this report of information compiled by him in the form and context in which it appears.

    The information in this report that relates to the Desert Lion Mineral Resource estimates is based on information compiled and verified by Mike Venter, Pr.Sci.Nat and VP Exploration for Desert Lion, who is a Qualified Person as defined by National Instrument 43-101.

    Tim Johnston, CPEng, Chief Executive Officer of Desert Lion Energy Inc, and a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical information contained in this news release pertaining to the Namibian Property and was responsible for verifying the data herein.

    Cautionary Note Regarding Forward-Looking Statements
    This news release contains "forward-looking information" within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget" "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved." Forward-looking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to: (i) assumptions and expectations with regard to the proposed merger, its completion and anticipated benefits and advantages; (ii) the future prospects, including the integration and commercial viability of Lepidico's technologies, resulting from the proposed merger and the ability to unlock value; (iii) the completion of the entitlements offers; (iv) continued exploration activities; (v) lithium and other metal prices; (vi) , the estimation of initial and sustaining capital requirements; (vii) the estimation of labour and production costs; (viii) the estimation of mineral reserves and resources; (ix) assumptions with respect to currency fluctuations; * the timing and amount of future exploration and development expenditures; (xii) receipt of required regulatory approvals; (xiii) the availability of necessary financing for Lepidico, Desert Lion and the Desert Lion Project, permitting; and (xv) such other assumptions and factors as set out herein.

    Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Desert Lion and Lepidico to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in lithium prices; sources and cost of power and water for the Desert Lion Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour and operating costs; general global markets and economic conditions; risks associated with exploration, development and operations of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the Desert Lion Project; risks associated with uninsurable risks arising during the course of exploration, development and production; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing Lepidico, Desert Lion and the Desert Lion Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the Desert Lion Project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of Lepidico and Desert Lion; the risk of litigation; the risk that the proposed merger will not be completed within the proposed timeline, or at all; and the risk that Lepidico's entitlements offers will not be completed.

    Although Desert Lion has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this announcement and Desert Lion does not undertake to update or revise any forward-looking information that is included herein, except in accordance with applicable securities laws.


    SOURCE Desert Lion Energy

    For further information: Joe Walsh, Managing Director, Lepidico Ltd, +1 647 272 5347; Tom Dukovcic, Director Exploration, Lepidico Ltd, +61 (0)8 9363 7800; Tim Johnston, Chief Executive Officer, Desert Lion Energy Inc., +1 416 309 2953

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