Brunswick Expands Into Lithium Exploration With District Scale Land Package in Quebec
March 03 2022 - 7:00AM
Brunswick Exploration Inc. (“
BRW”
or the “
Company”) is pleased to announce that it
is launching a major, long-term, grassroots lithium exploration
program in Quebec and the Maritime provinces, with initial staking
of several prospective claim blocks throughout the Southern Abitibi
region of Quebec. A total of 618 claims, separated into 12 blocks
and totaling 35,440 hectares, were acquired and are collectively
known as the Pontiac Lithium Project. The claims cover known
pegmatite intrusions, which is the host rock to spodumene, the most
common and commercially valuable hard-rock ore of lithium. All
claim are located in the Pontiac geological province, south of the
Cadillac-Larder Lake break, and are accessible by road from
Rouyn-Noranda, Malartic or Val d’Or.
Mr. Killian Charles, President of BRW,
commented: “This newly announced claims acquisition is the start of
Brunswick Exploration’s push into grassroot exploration for
critical metals such as lithium, nickel and tin, building on our
recently announced tin portfolio in New Brunswick. Tin and lithium
fundamentals are incredibly strong and were the best performing
metals in 2021, and we do not expect demand nor spot price for
these valuable commodities to drop any time soon.”
“Few companies are actively searching for new
discoveries in the lithium space with most of the current
exploration effort focused around historical deposits and showings.
Leveraging our exploration expertise, we have been able to stake
many areas with sound geology and favorable rock geochemistry, with
no historical lithium exploration. We believe that there is
excellent potential for discovery of new spodumene pegmatites in
Eastern Canada, and are extremely excited to kick-off a very busy
field season starting in Q2 2022. We have begun to outline multiple
new, highly prospective lithium targets elsewhere in Quebec and
further afield into the Maritime provinces.”
Lithium Market Fundamentals
The lithium market is rapidly growing as
lithium-ion batteries, used predominantly in vehicle as well as
small electronics, are creating demand that has already outstripped
global supply. The sharp rise in demand is largely attributed to
western governments pushing for decarbonization as they seek to
transition their economies to sustainable energy sources.
In 2021, market consultant Adamas Intelligence
estimated an increase of 89% year-over-year in electric vehicle
(“EV”) purchases with no sign of market
exhaustion. This significant demand increases in global EV has
spurned massive investments from the auto industry to develop and
advance the nascent market with planned investment in excess $200B
in 2020 alone.
Importantly, the mining industry has been
largely unable to meet current and expected demand. Lithium
carbonate, the most common lithium battery component, has seen
prices rising nearly ten-fold over the previous decade. Prices rose
over 500% since 2020 and continue to trade near all-time highs.
Global lithium production is currently sourced
from three separate deposit types:
-
Brines: Typically large-scale, continental saline
deposits with low grades (less than 2000 ppm lithium). Brine
lithium deposits accounts for the majority of global lithium
carbonate production and resources. They are formed through the
evaporation of ancient seas or existing salt-rich natural springs.
The resulting salt flats are mined for the underground liquid
brines. Globally, brines are concentrated in the “Lithium Triangle”
of the Northern Andes located in Bolivia, Chile and Argentina.
Processing lithium from brines is typically water-intensive which
is a major limiting factor in the arid region. A subset of this
deposit type includes lithium produced from geothermal sources with
elevated lithium concentrations. This is currently a minor source
of lithium globally.
-
Lithium Bearing Clays: Also large-scale and low
grades (2000-6000 ppm lithium), but hosted by soft rocks (clays).
This deposit type is currently the smallest source of lithium due
to the need for open pit mining and more complex metallurgy. Major
resource basins include Nevada with one mine currently active in
North America.
-
Pegmatites: Smallest deposit type but grades are
in the percentage range (usually 1-2% lithium), hence multiples
higher than brines or clays. Pegmatites are mined for spodumene, a
lithium-bearing mineral, from which a commercial concentrate is
produced for processing. Other lithium minerals found in pegmatite,
such as lithium mica (lepidolite), have little commercial value.
Due to the lower levels of impurities and simple metallurgy
relative to other deposit types, spodumene-bearing pegmatites were
among the first sources of lithium and remain an important part of
the market. The largest hard-rock lithium producer and highest
grade mine in the world, the Greenbushes mine of Australia, is a
lithium pegmatite. Brunswick Exploration will focus its exploration
work on this deposit type.
Other significant lithium deposits include Rio
Tinto’s Jadar deposit located in Serbia, a world-class lithium
resource. The main ore mineral is known as jadarite, an unusual
boron-lithium mineral. It is the only known deposit of its kind in
the world and is not currently in production.
Qualified Person
The scientific and technical information
contained in this press release has been reviewed and approved by
Mr. Robert Wares, P. Geo, CEO and Chairman of Brunswick
Exploration.
About Brunswick Exploration
The Company is a Montreal-based mineral
exploration venture listed on the TSX-V under symbol BRW. The
Company is focused on grassroot exploration for metals necessary to
decarbonization and energy transition with a particular focus on
lithium, tin, nickel and copper. The company is focused on rapidly
advancing the most extensive grassroot lithium exploration claim
package in Eastern Canada.
Investor
Relations/information
Mr. Killian Charles, President
(info@BRWexplo.com).
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accuracy of this release
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