Lithium Continues To Top Mining Sector As Companies Pour Funding
Into Mining Operations and Research & Product Development
Advancements
Coral Springs, FL (April 26, 2016) -- Companies like Tesla have
fueled the frenzy over lithium in the natural resources sector as
consumers demand increased functionality and development of
lithium-based products leading to rapid growth opportunities for
Mining companies and operations. Companies in focus with
expanded operations, advanced developments and news of note in the
markets today are Nevada Energy Metals Inc (OTC:
SSMLF) (TSX-V: BFF), Chemical & Mining Co. of Chile Inc.
(NYSE:
SQM), Albemarle Corporation (NYSE: ALB), Lithium X Energy Corp.
(OTCQB:
LIXXF) (TSX-V: LIX) and Galaxy Resources Limited (OTC:
GALXF)
Nevada Energy Metals Inc (OTC:
SSMLF) (TSX-V: BFF)) is pleased to announce the Company has
increased the exploration potential of the San Emidio property by
adding 69 additional claims to its land position. The property now
includes 155 claims (approximately 3,100 acres/1255 hectares) in
the San Emidio Desert, Washoe County, Nevada, 95 km northeast of
Reno. The additional claims were staked to cover a portion of the
playa evaluated in 1976 by Chevron Oil Company (Phoenix Geophysics
report by Bruce S. Bell) for its geothermal power potential. The
report states, Almost the entire survey area exhibits definite
anomalous responses which have a true resistivity less than three
ohm meters. The apparent resistivity data exhibits near horizontal
contours throughout parts of the anomalous area, but there is also
sufficient lateral variations within each anomaly to suggest that
the conductive zone is not due entirely to conductive sediments.
Drilling will be required to determine if the responses identifies
in the resistivity survey confirm the presence of brine aquifers.
Importantly, historical results by previous operators exploring the
playa for lithium reported lithium value in sediments up to 312 ppm
and up to 80 ppm lithium in brine from a depth of 1.5 meters
Read the full Nevada Energy Metals (SSMLF - BFF.V) Press
Release at: http://www.financialnewsmedia.com/profiles/ssmlf.html
The San Emidio Desert basin is an alkali playa environment
underlain by unconsolidated sediments and clays being fed by
Lithium bearing geothermal fluids (US. Geothermal analyses)
reported in bounding faults, and/or faults along the east side of
the basin. Since mid-Tertiary time, the rocks on the eastern edge
of the San Emidio Desert have undergone extensive hydrothermal
alteration and the presence of near-surface thermal fluids, suggest
that the thermal fluids represent deep circulation of meteoric
water (Moore, J.N., 1997). The property adjoins the Empire
geothermal power plant with production of 4.6 MW of electricity
from a 155C resource thereby providing a substantial heat source
for the circulation of meteoric groundwater believed important in
the formation of Lithium brine deposits as found at Clayton Valley,
Nevada host to North Americas preeminent Lithium brine production.
US Geothermal has reported anomalous Lithium values in the trace
element analysis of their geothermal brines at Empire.
In other developments and happenings in the sector:
Chemical & Mining Co. of Chile Inc. News - Sociedad Qumica y
Minera de Chile S.A.(NYSE:
SQM) announced last week that it has filed its Annual Report on
Form 20-F for the fiscal year ended December 31, 2015, with the
U.S. Securities and Exchange Commission (the "SEC"). SQM's
Form 20-F can be accessed by visiting either the SEC's website
at www.sec.gov or the investor relations section of
the Company's website at www.sqm.com. In addition,
shareholders may request a hard copy of the Company's audited
financial statements, free of charge, by contacting the Company's
investor relations team atir@sqm.com or +562
24252485.
Albemarle Corporation (NYSE: ALB), also announced last week that
President and Chief Executive Officer Luke Kissam will present at
the Goldman Sachs Basic Materials Conference in New York, NY
on Wednesday, May 18, 2016 at 11:45 a.m. ET. The format will
include a Fireside Chat, and the remainder of the day will consist
of one-on-one meetings. In addition to Kissam, Scott Tozier, Senior
Vice President and Chief Financial Officer, Matt Juneau, Senior
Vice President, Corporate Strategy and Investor Relations, and
Sharon McGee, Vice President, Corporate Development, will be in
attendance. The presentation and webcast will be made
available on Albemarle's website at www.albemarle.com under the Investors heading.
Details regarding the webcast information will be made available
two weeks prior to the event.
Lithium X Energy Corp. (OTCQB:
LIXXF) (LIX.V) is pleased to announce that the Company has
completed its acquisition of an initial 50% interest in Potasio y
Litio de Argentina SA ("PLASA"), which owns 100% of the Sal de los
Angeles lithium-potash brine project ("Sal de los Angeles Project",
or the "Project") in Argentina from Aberdeen International Inc. ("
Aberdeen ")(AAB.TO). In consideration for the 50% interest, the
Company issued 8,000,000 common shares to Aberdeen. The Sal
de los Angeles Project covers more than 95% of the Salar de
Diablillos property located in Salta province at an average
elevation of approximately 4,050 metres above sea level. The
Project includes 32 mining claims covering approximately 8,156
hectares and is located near FMC Corp.'s Salar de Hombre Muerto
lithium deposit, one of the world's largest lithium operations.
Galaxy Resources Limited (OTC:
GALXF), a lithium-focused resources company, explores and
produces lithium carbonate mineral properties. The companys
flagship project is the Sal de Vida lithium project in Argentina.
It also owns interests in the Mt Cattlin Spodumene mine in Western
Australia; and the James Bay lithium pegmatite project in Quebec,
Canada. Galaxy Resources Limited is based in Ardross,
Australia. GALXF closed up yesterday on over 624,000 shares
traded by the market close at $0.344.
Meanwhile in additional Lithium news: As Tesla (NASDAQ:
TSLA) begins ramping up production of its seven kilowatt
wall-mountable in-home battery this year, it expects to exceed the
sales of the entire energy storage system market last year.
Tesla is expected sell 168.5 megawatt-hours of energy storage
systems to the nation's leading residential solar system installer,
SolarCity, this year according to an SEC filing. That's 60% larger
than the entire 2015 U.S. behind-the-meter market and more than six
times what Tesla sold to SolarCity last year, according to a note
by GTM Research. Tesla expects revenues from SolarCity to increase
from $8 million so far to $44 million this year - a 450% annual
growth rate. "The numbers are all the more astonishing if we factor
potentially lower unit prices," GTM senior storage analyst Ravi
Manghani wrote in the report. Musk has said the company's $5
billion Gigafactory will double the world's supply of lithium-ion
batteries for cars and homes when it's fully live in 2017. During
an announcement of Tesla's new Model X sedan, Musk said the
Gigafactory is already producing the home batteries.
Source: ComputerWorld
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