CORAL SPRINGS, FL, Aug. 31, 2016 /CNW/ - Fueled By Skyrocketing Demand and expected continue growth, Lithium Exploration and mining projects leap ahead in the basic materials sector. Industry professionals are continuing to identify lithium as one of the more valuable sectors at the moment as the natural resource continues to increase in demand, as well as become more a prevalent energy source. Exploration, Mining and Basic Materials companies of interest in the markets tend to be Nevada Energy Metals Inc. (BFF.V) (OTCQB: SSMLF), Lithium X Energy Corp. (LIX.V) (OTC: LIXXF), Oroplata Resources, Inc. (OTC: ORRP), Sociedad Química y Minera de Chile S.A. (NYSE: SQM) and Liquidmetal Technologies Inc. (OTCBB: LQMT).
Nevada Energy Metals Inc. (TSX-V: BFF) (OTC: SSMLF) is pleased to announce encouraging results have been received from the latest sampling program at the Company's 100% owned Big Smokey Valley (North) project. The geochemical sampling program was designed to test for lithium values in surface soils and/or playa evaporates. Samples were obtained on a grid pattern consisting of eleven east/west lines spaced 400 meters apart with stations every 200 meters along the lines. The grid covered an area of approximately 3,000 acres. Of the 170 sample points analyzed 150 reported Lithium values greater than or equal to 100 ppm with the highest value being 146 ppm Lithium (the median value being 116 ppm); 20 samples points were in the 53 ppm to 99 ppm range.
Rick Wilson, President and CEO stated "Obtaining a statistically large number of anomalous Lithium values across our large 3,200 acre/1,295-hectare property is highly encouraging. We look forward to announcing the next phase of work shortly".
Read the full Nevada Energy Press Release at: http://financialnewsmedia.com/profiles/ssmlf.html
The BSV Lithium Project consists of 160 placer claims, with an area of 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Nye County, Nevada, 12 miles east of the town of Austin and extends approximately 100 miles in a southwesterly direction to reach a southern terminus near Clayton Valley. The northern section, where the claims area is located contains three geothermal resources; the Darrough, the McLeod and the Spencer hot springs. Nevada Energy Metals has acquired a 100% interest in the property, free of royalty payments.
In other Mining news and developments in the markets:
Lithium X Energy Corp. (TSX-V: LIX) (OTCQB: LIXXF), is pleased to report yesterday the filing of a National Instrument 43-101 technical report prepared by FloSolutions ( Chile ), dated August 30, 2016 and entitled Resource Estimate for Lithium & Potassium, Sal de los Angeles Project, Salta ( Argentina ) containing its first independent lithium ("Li"), potassium ("K") and boron ("B") resource estimate for the Sal de los Angeles brine project at Salar de Diablillos (the "Project"). Lithium X holds a 50% interest in the Project and can acquire an additional 30% interest (see March 3, 2016 news release).
Oroplata Resources, Inc. (OTC: ORRP) closed up over 4% on Tuesday at $0.737 on over 720,000 shares traded by the market close. Oroplata recently announced the appointment of energy industry and investment banking veteran Alan D. Gaines to the Advisory Board of the Company. ORRP also last month entered into a binding agreement with Plateau Ventures of Utah, to exercise its second option to acquire an additional 700 mining placer claims at the Western Nevada Basin project ("WNB"), in Nevada.
Sociedad Química y Minera de Chile S.A. (NYSE: SQM) reported last week earnings for the six months ended June 30, 2016 of US$141.6 million (US$0.54 per ADR), a decrease from US$154.9 million (US$0.59 per ADR) for the six months ended June 30, 2015. Gross Margin reached US$260.5 million (29.6% of revenues) for the six months ended June 30, 2016, lower than US$295.2 million (33.9% of revenues) recorded for the six months ended June 30, 2015. Revenues totaled US$881.5 million for the six months ended June 30, 2016, representing an increase of 1.1% compared to US$871.8 million reported for the six months ended June 30, 2015.
In other Basic Materials sector market movers watch:
Liquidmetal Technologies Inc. (OTCQB: LQMT) closed up over 10% at $0.17 on over 13 Million shares traded by the market close on Tuesday. Liquidmetal Technologies Inc., a materials technology company, designs, develops, and sells products and components from bulk amorphous alloys to customers in various industries. Liquidmetal announced late yesterday it has been invited to present at the 2016 Gateway Conference being held on September 7th and 8th, 2016 at The Four Seasons Hotel in San Francisco.
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