Lithium Demand Projected to Rise as Li-Ion Battery Technology Improves

NEW YORK, November 1, 2017 /PRNewswire/ --

According to a research report published Freedonia Group, the global demand for lithium metal is projected to rise 8.9 percent per year through 2019 to 49,350 metric tons. In lithium carbonate equivalent (LCE) terms, the value of the global lithium market is projected to reach $1.7 billion. Impressive advances in rechargeable battery technology expected to fuel market demand. The report also points out that rapid expansion in the lithium-ion (Li-Ion) battery industry as world demand for hybrid and electric vehicles (H/EVs), energy storage systems, and high-drain portable electronics continues to grow. LiCo Energy Metals Inc. (OTC: WCTXF), Advantage Lithium Corp. (OTC: AVLIF), Lithium X Energy Corp. (OTC: LIXXF), Lithium Americas Corp. (QTC: LACDF), Galaxy Resources Limited (OTC: GALXF)

"The range of EVs can be improved, and the fuel consumption of hybrid EVs can be reduced using lithium-ion batteries. The diverse types of rechargeable batteries, distinguished by the materials used for the electrodes and electrolytes, have a short-range due to lower energy density and have a short operational life when compared with that of lithium-ion batteries. Growth in vehicle fleet leads to a proportionately faster change in the acceptance of EVs, thereby providing growth prospects for the global lithium market," explained Mahitha Mallishetty, a lead metals and minerals research analyst at Technavio.

LiCo Energy Metals Inc. (OTCQB: WCTXF) is also listed on the TSX Venture Exchange under the ticker 'LIC'. Just announced breaking news earlier this morning that it is pleased to update its shareholders on the current diamond drilling program for its Teledyne and Glencore Bucke Cobalt Properties situated in Bucke and Lorrain Townships, 6 km east-northeast of Cobalt, Ontario, as originally announced on September 12th, 2017. The Company has recently completed drilling 19 holes for a combined depth of approximately 2,000 meters on its two cobalt mineral exploration properties in Ontario. Visual mineralization is present in all drill holes completed to date.

On the Glencore Bucke Property, the Company has completed a total of 16 holes for approximately 1,400 metres of drilling, testing the Main and Northwest zones on the Glencore Bucke Property. Visual cobalt camp style mineralization has been noted in every drill hole that the Company has completed. The historical drilling program outlined two separate vein systems hosting significant cobalt and silver values. The Main Zone, currently is 152 m in length, and the Northwest Zone, measuring 70 m in length. The Main Zone had a north-south strike, which is hypothesized as the southern extension of the #3 vein from the Cobalt Contact Mine located immediately to the north of the Property (Bresee, 1982).

On the Company's adjoining Teledyne Property, a second drill rig has been recently added by the Company to expand its overall drilling program in the area. As of the date of this news release, the Company has been able to complete 3 - 200 metre drill holes for approximately 600 metres of new drilling. The second drill has also visually intersected Cobalt camp style mineralization in each drill hole that is testing the cobalt/silver targets on the Teledyne Property.  

Tim Fernback, President & CEO of LiCo, states, "Building on what can be described as a successful start to LiCo's fall exploration program, the first drill hole on Teledyne has been drilled to test the cobalt/silver targets of the Teledyne Property that were previously identified by Teledyne Canada Ltd.  Drill targets on the Teledyne and Glencore Bucke Property are considered to be extensions from the past producing Agaunico Mine and Cobalt Contact property respectively. The core samples from the initial drill holes have recently been sent to the laboratory for analysis and we are anxiously waiting to receive the results." For more information on LiCo's Teledyne and Glencore Bucke Properties listen to Tim Fernback's latest audio interview with SmallCapVoice.com here: http://smallcapvoice.com/blog/10-23-17-smallcapvoice-interview-with-lico-energy-metals-inc-wctxf/ .

LiCo will remain drilling on the Glencore Bucke property, while the second drill rig will be used to test the drill targets identified by management on the Teledyne Property.  The Teledyne and Glencore Bucke Properties are managed by Joerg Kleinboeck, P.Geo. (LiCo's QP), and supervised by Mr. Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo. The overall drilling program will be conducted as part of LiCo's flow thru financing and work commitments for the Glencore Bucke and Teledyne Properties." 

Advantage Lithium Corp. (OTCQX: AVLIF) is a resource company specializing in the strategic acquisition, exploration and development of lithium properties. Recently, the company announced further positive progress with its Cauchari JV drilling and pumping program where three drill rigs are now expanding the depth and lateral extent of the existing NI43-101 mineral resource dated December 2016. A preliminary pumping test of 2.5 hours has been completed on CAU09, with 21 samples taken during the test, averaging 662 mg/l lithium and 6,169 mg/l potassium, with an average low Mg/Li ratio of 2.2:1. Quality control/assurance included three duplicate, 5 standard and 3 blank samples. 

Lithium X Energy Corp. (OTCQX: LIXXF) is a lithium exploration and development company with a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. On October 4, the company announced it has successfully completed the consolidation of the Sal de los Angeles project so that it now controls 100% of the mineral titles contained within the brine bearing regions of the Diablillos basin. The consolidation involved the acquisition of 2,700 hectares of claims from Borax Argentina S.A. replacing the usufruct Lithium rights previously held by the Company over the Borax claims and an agreement to acquire a further 700 hectares currently owned by South American Salars S.A. for a total consideration of 650,000 common shares of Lithium X, USD $1,000,000 and a 1% Net Revenue Royalty (NRR) over the SDLA project. Brian Paes-Braga, President & CEO remarks "The execution of these agreements, coupled with the earlier purchase of Aberdeen's portion of Potasio y Litio de Argentina, will ultimately give Lithium X one hundred percent ownership of the Diablillos basin. This significantly simplifies and de-risks potential future development of the salar."

Lithium Americas Corp. (QTCQX: LACDF), together with its joint venture partner, Sociedad Quimica y Minera de Chile S.A., is developing the Cauchari-Olaroz lithium project, located in Jujuy, Argentina, through its 50% interest in Minera Exar S.A. In addition, Lithium Americas owns 100% of the Lithium Nevada Project, and 100% of RheoMinerals Inc., a supplier of rheology modifiers for oil-based drilling fluids, coatings, and specialty chemicals. Recently, the company provided an update on the Lithium Nevada Project (the "Lithium Nevada Project") located in Nevada, USA. A total of 70 drill targets have been strategically located within, and to the south and to the east, of the Lithium Nevada Project's Zone 1, where some of the most highly-concentrated lithium clays in North America have been discovered. The 2017 Exploration Program is fully permitted, approximately 65% complete, and is expected to be concluded by early 2018.

Galaxy Resources Limited (OTC: GALXF) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada. The company recently announced the final assays from its 2017 drilling campaign at the James Bay Project in Quebec, Canada. In late March 2017, the Galaxy James Bay team commenced a ~33,000m diamond drilling campaign to extend and develop the existing James Bay spodumene resource. The drilling program is now complete and all assays have been received. Managing Director and CEO, Anthony Tse commented "The results from this drilling campaign support the James Bay Project becoming a significant hard rock, high grade, long life lithium resource."

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