CORAL SPRINGS, FL, Sept. 22, 2016 /CNW/ - The lithium market exploded in 2016 due to an increased number of electric cars and other alternatively fueled products and experts forecast more of the same on the horizon with global demand only rising. Lithium projects are this year's hot button in the markets for companies operating in the lithium sector such as Nevada Energy Metals Inc. (TSX-V: BFF) (OTC: SSMLF), Albemarle Corporation (NYSE: ALB), Chemical & Mining Co. of Chile Inc. (NYSE: SQM), Pure Energy Minerals Limited (TSX-V: PE) & Oroplata Resources, Inc. (OTC: ORRP)
Nevada Energy Metals Inc. (TSX-V: BFF) (OTCQB: SSMLF) is pleased to announce that a surface sampling program designed to test for lithium (Li) values in playa evaporates has returned significant geochemical results at the Company's 100% owned Black Rock Desert Project in Nevada. Geochemical sample points were arranged on a grid pattern of 11 lines spaced 400 meters apart with stations every 200 meters along the lines. One hundred and seventy (170) soil samples were collected. Results ranged from 82.8 to 520 parts per million (ppm) lithium with a median value of 182 ppm. Twelve samples carried over 300 ppm Li. The Black Rock Desert results are comparable to those obtained at Teels Marsh, Nevada by Dajin Resources Corp. (55 -460 ppm Li) and in clay separates at Clayton Valley, Nevada (300 - 1,100 ppm Li). It is not known what relationship if any exists between lithium values in clay concentrates and those in bulk soil samples.
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These results show that dissolved lithium has been transported into this portion of the Black Rock Desert and is available for potential concentration by evaporative brines. The exploration model for the Black Rock Project is a Clayton Valley evaporative brine deposit as described in USGS Open File Report 2013-1006. Samples were collected by a contract crew and transported to the ALS sample preparation lab in Elko, Nevada. Samples were screened to -80 mesh at the ALS prep lab in Reno, Nevada and analyzed by Aqua Regia leach mass spectrometry at the ALS laboratory in North Vancouver, B.C. Canada. QA/QC standards were inserted into the sample stream with one in twenty samples being a standard. All standards were within 3% of their accepted value of 750 ppm. As a result of encouraging lithium values at the Black Rock Desert, the company has dispatched a crew to expand its land position by staking additional claims.
In other Lithium developments and performers in the markets:
Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced recently that it has entered into an agreement with Bolland Minera S.A., for the exclusive exploration and acquisition rights to a lithium resource in Antofalla, within the Catamarca Province of Argentina. Albemarle believes that this lithium resource will be certified as the largest lithium resource in Argentina.
Chemical & Mining Co. of Chile Inc. (NYSE: SQM) closed up on Wednesday at $25.67 on slightly above the average 3 month trading volume of 649000 shares traded by the market close. Chemical and Mining Company of Chile Inc. produces and sells specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.
Pure Energy Minerals Limited (TSX-V: PE) (OTCQB: PEMIF) announced recently that the initial brine analyses from its latest exploration borehole at the Clayton Valley South ("CVS") lithium brine project are very positive. Sampling in CV-3 encountered continuously elevated lithium compositions from a depth near the top of the perforated interval of the well at approximately 244 m (800 ft), to the deepest sample collected near the bottom of the perforated interval at 564 m (1,850 ft) below surface. The lithium content over this 320 m (1,050 ft) interval ranged from 150 to 200 mg/L, averaging approximately 175 mg/L (See Table 1 for details).
Oroplata Resources, Inc. (OTC: ORRP) recently announced details of its planned 2016 Short Work Program at the Western Nevada Basin Lithium Project in Nevada. "This drilling and sampling focused work program will directly examine lithium enriched tuff horizons through direct sampling across our WNB property and should generate lithium values both laterally and vertically through the project area," commented Oroplata CEO, Craig Alford. "This method has already been proven extremely effective at other now productive lithium brine operations, including Clayton Valley in Nevada."
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