St-Georges Eco-Mining Signs Agreement to Spin-Out Subsidiary ZeU
Momentum Public Relations
Press Release: May 31 2018
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to announce the signing of an arrangement agreement providing for the spin-out of its subsidiary ZeU Crypto Networks Inc. with the intent of listing ZeU on the Canadian Securities Exchange.
Under the terms of the Arrangement Agreement, shareholders of St-Georges at the time of the completion of the Spin-Out, anticipated to be the latter part of July, will receive 11,249,825 shares of Zeu, representing one (1) share of ZeU for every eight (8) common shares of St-Georges held based on the current issued and outstanding share capital. A St-Georges Shareholders’ meeting to approve the Arrangement Agreement is set for July 5, 2018 and proxy materials related to the meeting will be delivered to shareholders and made available on SEDAR in June 2018. A copy of the Arrangement Agreement will also be filed on SEDAR. The Arrangement Agreement is subject to the acceptance of the CSE.
ZeU holds an exclusive license to use Qingdao Tiande Technologies Limited and Beijing Tiande Technologies Limited ‘s (collectively ” Tiande “) proprietary technologies, patents and know-how to develop and commercialize novel mineral commodity production chain control, tracking and trading exchanges, and has entered into a binding asset purchase agreement with Tiande, and the intervention Guiyang Tiande Technologies Limited, to acquire substantially all the intellectual property of Tiande, as more particularly described in St-Georges February 26 and May 22, 2018 press releases.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, PRESIDENT & CEO
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
The release contains forwarding looking information and statements as defined by law including, without limitation, Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”), respecting St-Georges’ plans to spin-out its subsidiary ZeU. which is intended to be listed on the Canadian Securities Exchange. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to materially differ from those expressed or implied by the forward-looking statements including that the spin-out may not be completed as planned or at all due to failure to obtain shareholder or regulatory approval ,the inability to complete the Acquisition, raise sufficient capital to adequately fund ZeU or a decision of the board of St-Georges not to proceed, which decision can be made at any time prior to closing. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and a number of assumptions that may prove to be incorrect, including, without limitation, assumptions about general business and economic conditions, the timing and receipt of required approval and continued availability of capital and financing. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein. The foregoing list is not exhaustive and St-Georges undertakes no obligation to update any of the foregoing except as required by law.
- Published in St-Georges Eco-Mining
Equitorial Continues to Encounter Pegmatites at its Cat Lake Lithium Property, Manitoba
Momentum Public Relations
Press Release: March 28 2018
Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) (“Equitorial” or “Company”) is pleased to report that drill hole CT-18-04 encountered approximately 20 meters of the same pegmatite found 50 meters to the east at the original pegmatite discovery (CT-18-02) at its 100%-owned Cat Lake Lithium Property in SE Manitoba directly, adjacent to the Cat Lake Mineral Project owned by Quantum Minerals Corp. CT-18-04 confirms the lateral extension of the pegmatite discovery.
Drill Program Update
As reported (news release March 21 st , 2018 ), the drill program encountered approximately 36 meters (true width not determined at this time) of a spodumene bearing pegmatite in DDH CT-18-02 at its 100%-owned Cat Lake Lithium Property directly adjacent to the Cat Lake Mineral Project owned by Quantum Minerals Corp.
The new pegmatite discovery (DDH CT-18-02) was encountered approximately 126 meters downhole or 90 meters below the surface. Drill hole CT-18-04 encountered approximately 20 meters of the same pegmatite 50 meters to the east of the original pegm atite discovery hole. This pegmatite was encountered approximately 105 meters downhole or 72 meters below the surface. CT-18-04 confirms the lateral extension of the pegmatite discovery.
The discovery drill hole was collared approximately 200 meters southeast of the last surface exposure of the Irgon Pegmatite. All drill holes of the pegmatite exploration program encountered varying degrees of pegmatites at different depths. The pegmatites encountered in the program were buried and had no known surface expression. The company is presently in the process of sampling the pegmatite intervals and will announce assay results once they are received and reviewed.
The last drill hole of the Lithium Pegmatite exploration portion of the drill program has begun. The drilling has been focused on understanding the orientation and extent of the new pegmatite discovery. Additional meterage has been added to the program. The final portion of the drilling will test the skarn and old mine shaft located on the east side of the project area.
The drill program is headed up by Carey Galeschuk. P. Geo, a consulting geologist with extensive experience in lithium bearing pegmatites. He also serves as Qualified Person for the purpose of National Instrument 43-101.
Cat Lake Lithium Property Highlights
- – Property situated directly east and along strike of Quantum Minerals’ Cat Lake Mineral Project (previously Irgon Lithium Mine) . During 1956-1957, t he Irgon Mine was an underground mining operation for spodumene (one of the hard rock sources for Li). The pegmatite had an historic estimate of 1.25 million tons of ore grading 1.51% Li20 (Mineral Inventory File No. 221).
– Equitorial claim block 150 m from south end of Irgon Lithium Mine shaft and approximately 93m east of the last exposed outcrop of the Irgon Pegmatite
– 48 feet of spodumene bearing quartz were drilled in 1948 on the company’s present claims but not followed up at the time (Manitoba Assessment File 98073 – not 43-101 compliant )
– Present drill program has encountered numerous pegmatite in all drill holes
– Property approximately 180km northeast of Winnipeg, Manitoba
– Excellent infrastructure – Provincial Highway 314 in southeast Manitoba cuts through the property
- – Please click for maps of the claims:
– http://equitorialexploration.com/wp-content/uploads/2018/01/Cat-Lake-Claims-Maps-3.pdf
QMC Quantum Minerals Cat Lake Mineral Project
QMC Quantum Minerals Corp News Release September 7, 2017 reported:
“Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and reported a historical resource estimate of 1.2 million tons grading 1.51% Li20 over a strike length of 365 meters and to a depth of 213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical resource is documented in a 1956 Assessment Report by Bruce Ballantyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment Report No. 94932). This historical estimate is believed to be based on reasonable assumptions and the company/QP has no reason to contest the document’s relevance and reliability.”
The property lies within the east-trending Mayville-Cat-Euclid Greenstone Belt (“MCEGB”) located along the northern contact of the Maskwa Lake Batholith. This northern greenstone belt has a similar structural geological setting as the Bird River Greenstone Belt (“BRGB”) which is located along the southern contact of the same batholith, and is parallel to and approximately 18km to the south of the MCEGB. The property is located 20km north of the Tanco Mine Property. The
BRGB hosts the world-class Tanco rare element-bearing pegmatite dike as well as numerous other lithium bearing pegmatites. The Tanco Mine went into production in 1969 and produced tantalum, cesium and spodumene (lithium). It was previously North America’s largest and sole producer of spodumene (Li), tantalite (Ta) and pollucite (Cs).
About Equitorial Exploration Corp
Equitorial is aggressively developing four 100%-owned, high-potential, lithium projects in North America. The Little Nahanni Pegmatite Group (LNPG) is a 43-101 compliant, hard rock, lithium property in the NWT. The Cat Lake Lithium Property in Manitoba, Canada is directly adjacent to the Cat Lake Mineral Project, a highly prospective Lithium property. The Tule and Gerlach Lithium Brine Projects are located in lithium-rich Utah and Nevada within easy reach of the Tesla Gigafactory #1. All four projects have demonstrated highly encouraging grades.
For more information please visit: http://equitorialexploration.com/
On behalf of the Board of Directors
EQUITORIAL EXPLORATION CORP.
_____________________
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Cat Lake, Tule, Gerlach and Little Nahanni Pegmatite Projects: statements pertaining to the ability of Equitorial Exploration Corp.(“EXX”); the potential to develop resources and then further develop reserves; the anticipated economic potential of the property; the availability of capital and finance for EXX to execute its strategy going forward. Forward-looking statements are based on estimates and assumptions made by EXX in light of its experience and perception of current and expected future developments, as well as other factors that EXX believes are appropriate in the circumstances. Many factors could cause EXX’s results, performance or achievements to differ materially from those expressed or implied by the forward looking statements, including: discrepancies between actual and estimated results from exploration and development and operating risks, dependence on early exploration stage concessions; uninsurable risks; competition; regulatory restrictions, including environmental regulatory restrictions and liability; currency fluctuations; defective title to mineral claims or property and dependence on key employees. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
- Published in Equitorial Exploration
Preliminary Third Party Report Leads St-George to Accelerate Plans to File for Patents on Extraction for Lithium in Clays
Momentum Public Relations
Press Release: December 27, 2017
St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) is pleased to release the findings of the preliminary report provided by the third party contractor hired to execute certain tests in relation to St-Georges’ research initiatives related to the extraction of lithium in clays.
The first stage of the mandate given to Dundee Sustainable Technologies (CSE:DST) was to characterize the material from the Bonnie Claire Lithium Property – provided by Iconic Minerals Ltd (TSX-V: ICM) – and to test it using currently knowns extraction techniques, commercially deployed or known in the public domain from academic research. St-Georges will work strategically with all the potential suppliers to optimize for total cost of ownership and develop a green foot print. This will include solvent extraction, membranes and electrolysis to make a lithium product that meets or exceeds industry standards.
The extraction techniques evaluated can achieve recoveries between 80% to 99.9% with a purity of 99.9%. St-Georges is focused on total capital and operating costs with a green foot print. The ecological focus is achieved, in part, by converting by products into saleable forms. St-Georges management is encouraged by the recent developments and is now looking to expand the scope of its analysis in regards to what might be patentable in its extraction methods.
The economic nature of St-Georges proposed technology in relation to the Bonnie Claire project cannot be established prior to the definition of a NI 43-101 Resources Estimate and a Preliminary Economical Assessment of the Bonnie Claire Project. However, the characterization of the material provided by Iconic to St-Georges allows for a certain amount of limited hypothesis. The high percentage of silica and alumina characterized in the material processed from Bonnie Claire makes an already interesting concentration of lithium stand out in the remaining segregated material. The report also hint at are other elements that might be worth recovering like potassium and other agricultural focused by products. The next phase of process optimization will be initiated in January. St George is encouraged by the initial characterization results.
Enrico Di Cesare, St-Georges’ director and vice-president research & development commented: “We are looking forward to working closely with the Iconic exploration team and characterizing and testing the results in parallel of their exploration effort on Bonnie Claire. Our technical team is looking forward to optimizing the process for recovery of lithium and salable by-products with a focus on being ecologically green”.
“(…) Our R&D initiative related to lithium bearing clay is progressing well. Shareholders and stakeholders need to keep in mind however that we still have more challenges in the near future. The next 2-3 months will be critical for the development of the lithium-in-clay (LiC) extraction process. It’s important to note when studying the history of science that a significant amount of disruptive technologies never made it outside of a controlled laboratory environment. The demonstration of commercial scalability is still the make or break milestone that we need to secure and we do not have any guarantee of success at this point in time. If that milestone is achieved, we will then have the privilege of embarking into the exciting endeavor of bringing a mine to production. (…) over the months and years period that this task might entails” – said St-Georges’ CEO Frank Dumas.
ON BEHALF OF THE BOARD OF DIRECTORS
“Enrico Di Cesare
ENRICO DI CESARE, DIRECTOR, VICE-PRESIDENT RESEARCH & DEVELOPMENT
About St-Georges
St-Georges is developing new technologies to solve the some of the most common environmental problems in the mining industry.
The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec’s North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
- Published in St-Georges Eco-Mining
Equitorial Exploration Files Permit for 2,000 m Drill Program
Momentum Public Relations
Press Release: November 21, 2017
Vancouver, BC, Canada / TheNewswire / November 21, 2017 – Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) (“Equitorial” or “Company”) is pleased to report that the Company has received TSX-V Exchange approval to acquire a 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} recorded and beneficial interest in 3 claims (Catlake Claims) directly adjacent to the Cat Lake Mineral Project owned by Quantum Minerals Corp.
The Company is in the process of filing a work permit in Manitoba to drill 2,000 meters. The drill program will be headed up by Carey Galeschuk, P.Geo a geological consultant, who will also serve as Qualified Person for the purpose of National Instrument 43-101. He is a registered as a professional geoscientist in Manitoba and Ontario with close to 30 years of mineral exploration and project management experience across Canada. He has engaged in exploration with both junior and senior exploration companies in a broad range of commodities including rare metals, base metals, gold, nickel and PGM’s. He has considerable experience in lithium and pegmatite deposits. Currently Mr. Galeschuk provides geological consulting services to a variety of clients.
Cat Lake Lithium Project Summary
- – Adjacent to Cat Lake Mineral Project (previously Irgon Lithium Mine)
– Lithium Corp Cat Lake mine situated on south end Catlake claim block
– Irgon Lithium Mine shaft 150 m from south end of Catlake claim block
– 48 feet of spodumene bearing quartz drilled in 1948 (Manitoba Assessment File 98073)
– Approximately 150km northeast of Winnipeg
– Provincial Highway 314 in southeast Manitoba passes close by the claims
– Please click for a map of the claims: TBD
Cat Lake Mineral Project
QMC Quantum Minerals Corp News Release September 7, 2017 reported:
“Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and reported a historical resource estimate of 1.2 million tons grading 1.51{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Li20 over a strike length of 365 meters and to a depth of 213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical resource is documented in a 1956 Assessment Report by Bruce Ballantyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment Report No. 94932). This historical estimate is believed to be based on reasonable assumptions and the company/QP has no reason to contest the document’s relevance and reliability.”
The property lies within the southern section of the east-trending Mayville-Cat-Eculid Greenstone Belt (“MCEGB”) located along the northern contact of the Maskwa Lake Batholith. This northern greenstone belt has a similar structural geological setting as the Bird River Greenstone Belt (“BRGB”) which is located along the southern contact of the same batholith, and is parallel to and approximately 18km to the south of the MCEGB. The property is located 20km north of the Tanco Mine Property. The BRGB hosts the world-class Tanco rare element-bearing pegmatite dike. The Tanco Mine went into production in 1969 and produced tantalum, cesium and spodumene (a primary ore mineral for lithium) concentrate. It was previously North America’s largest and sole producer of spodumene (Li), tantalum (Ta) and pollucite (Cs).
About Equitorial Exploration Corp
Equitorial is aggressively developing four 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}-owned, high-potential, lithium projects in North America. The Little Nahanni Pegmatite Group (LNPG) is a 43-101 compliant, hard rock, lithium property in the NWT. The Catail Property in Manitoba, Canada is directly adjacent to the Cat Lake Mineral Project, a highly prospective Lithium property. The Tule and Gerlach Lithium Brine Projects are located in lithium-rich Utah and Nevada within easy reach of the Tesla Gigafactory #1. All four projects have demonstrated highly encouraging grades.
For more information please visit: http://equitorialexploration.com/
On behalf of the Board of Directors
EQUITORIAL EXPLORATION CORP.
_____________________
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
- Published in Equitorial Exploration, News Home
Deep-South Resources Intends to Acquire 75 of the Inal Property Neighboring the Kinross Gold Mine
Deep-South Resources Intends to Acquire 75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Inal Property Neighboring the Kinross Tasiast Gold Mine in Mauritania
Momentum Public Relations
Press Release: August 23, 2017
Deep-South Resources Inc. (” Deep-South ” or ” the Company “) (TSX-V: DSM) is pleased to announce that it has signed a letter of agreement (the “Letter of Agreement”) to acquire from Suricate SARL ( “Suricate” ), 75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the INAL project, neighboring the Kinross Tasiast gold mine situated in the northwest of Mauritania.
Upon completion of a satisfactory due diligence, Deep-South shall acquire a 75{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} beneficial interest in the INAL project in consideration for a cash payment of
US $ 20,000.00 and the issuance of 500,000 common shares of Deep-South. The respective interests of both Parties will be held into a joint-venture company (Holdco).
Furthermore, Deep-South shall incur the following payments and shares issuance to Suricate:
On Cash Payments Shares Issuance
First Anniversary of Closing Date US$ 100,000 250,000
Second Anniversary of Closing Date US$ 100,000 250,000
Third Anniversary of Closing Date US$ 100,000 250,000
In addition to the above mentioned consideration, pursuant to the Letter of Agreement Suricate is entitled to a production bonus of US $ 1 million to be paid on the first day of commercial production commencement;
Deep-South shall finance all the exploration expenditures up to a production decision. Upon the day of a commercial production decision, Suricate shall contribute its share of the eventual mine development. Deep-South intends to hire Suricate to act as its representative in Mauritania for a period of 24 months from the Closing Date at a rate of US$2,500 per month.
Upon closing, Sparrowhawk Gold Limited, a geological consulting company, has analyzed the project and upon closing will receive a compensation of US $ 3,500 and 50,000 common shares of Deep-South. After the first anniversary of the Letter of Agreement, Deep-South shall retain the services of Sparrowhawk for the 3 subsequent years of the project for a cash compensation of US $ 10,000 per year and the issuance of 30,000 common shares per year .
The Letter of Agreement, and the transactions contemplated therein, including the shares issuance are subject to approval by the TSX Venture Exchange . All securities issued pursuant to the Letter of Agreement and to Sparrowhawk Gold Limited will be subject to a hold period of four months and a day from the date of issuance.
Mr. John Akwenye, Chairman of Deep-South stated, “We are delighted with this transaction. We are securing a large area in the heart of a promising area that already host a large gold mine and several discoveries. INAL has substantial exploration potential. It is a strong addition to our Haib copper project in Namibia. INAL is a quality asset that adds strong value for our shareholders.”
About the INAL Project: Gold and Lithium potential
The INAL project is situated within the Aoueouat Greenstone Belt of North West Mauritania (see maps at:https://www.deepsouthresources.com/projects/inal-property/ ). The project comprises two exploration licenses covering an area of 441 square kilometres located some 45 kilometres North East along trend from Kinross’s Tasiast gold deposit, and is adjacent to Kinross’s N’Daouas-Est and Algold’s Legouessi exploration licenses. The project covers prime granite greenstone belt terrain and host a number of geological structures extending from the Kinross licenses through, and onto, the INAL licenses. These structures, including a banded iron formation that hosts the Tasiast deposit, have the potential to host gold mineralization.
Furthermore, the INAL project also hosts a number of pegmatite bodies with confirmed spodumene and lepidolite mineralization. The pegmatite bodies have been identified by intermittence over a length of at least 40 km and a width of over 10 km, and represent very prospective targets for lithium mineralization.
North Western Mauritania is underlain by the South Western portion of the Reguibat Shield, which forms part of the West African Craton. The Reguibat Shield host Archaean age Greenstone Belts that bear many similarities to other Archaean age Greenstone Belts of the West African Craton, most notably in Ghana, Burkina Faso, Mali and others, which all host multi-million ounce gold deposits.
Clifford Fitzhenry; MSc, BSc (Hons), Pr.Sci.Nat., is responsible for the technical part of this press release and is the designated Qualified Person under the terms of National Instrument 43-101.
About Deep-South Resources Inc.
Deep-South Resources Inc. is a mineral exploration company largely held Namibian shareholders and Teck Resources Ltd, which holds about 35{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of Deep-South share capital. Deep-South is actively involved in the acquisition, exploration and development of major mineral properties. Deep-South currently holds 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Haib Copper project in Namibia, one of the largest copper porphyry in Africa. Deep- South growth strategy is to focus on the exploration and development of quality assets, in significant mineralized trends, c los e to infrastructure, in stable countries.
This press release contains certain “forward-looking statements,” as identified in Deep-South’s periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
- Published in Deep South Resources Inc., Mining, News Home
Majescor Announces the Appointment of a New Chief Executive Officer, a New Director and the Granting of Options
Majescor Announces the Appointment of a New Chief Executive Officer, a New Director and the Granting of Options
Momentum Public Relations
Press Release: May 31, 2017
Ottawa, Ontario / TheNewswire / May 31, 2017 – Majescor Resources Inc. (“Majescor” or the “Corporation”) (TSX-V: MJX) is pleased to announce that Mr. Michel Fontaine has been appointed as Chief Executive Officer of the Corporation effective May 22, 2017. He will be replacing Mr. Andre Audet who will remain as Chairman and Director of the Board. Since October 2015, Mr. Fontaine has been involved with Majecor as a Director of its Board. He was Vice-President/Business Development with Diagnos Inc (“DIAGNOS”) since 2005. Mr. Fontaine previously held a position of Vice-President within a firm specialized in Forex (Foreign Exchange). Before working as a broker at a major Canadian securities firm, he worked in the mining sector in Vancouver. His broad experience in the financial and mining industries will be great assets for the Corporation. Mr. Fontaine is also on the board of directors of Metanor Resources Inc. and Everton Resources Inc.
The Company is also pleased to announce that Andre Larente has agreed to join the board of directors. Mr. Larente is President of Diagnos. Mr. Larente has previously held leading management positions with companies such as Siemens, Syscan International, Newbridge Networks, Legent, Cognos, Tandem Computers and Honeywell Information Systems.
Mr. Larente has built several AI based applications at Diagnos such as: Computer based analysis of amateur composers’ songs, a FOREX application covering eight currencies, a Computer Assisted Resource Detection System for the natural resource sector and Computer Assisted Retina Analysis system.
Michel Fontaine, Majescor’s new CEO and President said everyone is talking about AI (Artificial Intelligence). Goldcorp is working with Watson (AI), Majescor will be working with CARDS (Computer Aided Resources Detection System). The CARDS system has been used in the mining industry since 2004 and, I can see our CARDS technology reinventing the mining industry. Learn from the past to predict the future using powerful algorithms and data mining technics. In the end, our CARDS technology will be helping geologists make decisions in targeting new potential mining deposits.
Granting of Options
Majescor has granted options to purchase up to 1,750,000 common shares of the Corporation Officers and Directors at a price of $0.10 per share for a period of five years ending May 24, 2022.
About Majescor Resources Inc.
Majescor is a junior mining exploration company with an extensive portfolio of gold and diamond properties in Quebec. Majescor has also acquired assets from the DIAGNOS mining division including the Computer Aided Resources Detection System (“CARDS”).
For further information, please contact:
Michel Fontaine
CEO and President of Majescor Resources Inc.
Telephone: 514-994-5843
Fax: 613-422-0773
Email: michel@majescor.com
Website: www.majescor.com
Additional information about the Corporation is available under Majescor’s profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2017 TheNewswire – All rights reserved.
- Published in Albert Mining, Mining, News Home, Technology
Lithium supply to outweigh demand by 2018, cobalt to remain tight: CRU
Lithium supply to outweigh demand by 2018, cobalt to remain tight: CRU
Dublin (Platts)–26 Apr 2017 952 am EDT/1352 GMT
Lithium supply was expected to outweigh demand as early as next year, UK-based consultancy CRU’s Rebecca Gordon said Wednesday, while the cobalt market should remain tight well into the next decade on continued supply shortness.
While massive growth in battery demand was set to see consumption of both metals soar in coming years, new lithium supply was expected to match demand by 2018, reaching a peak of 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of total supply by 2022, Gordon told a Minor Metals Trade Association meeting in Dublin.
“The 2016 lithium cost curve shows why prices had to rise so sharply,” Gordon said, referring to lithium carbonate and hydroxide spot prices of over $10,000/mt in 2017, having doubled in less than 12 months on rising expectations of a demand boom from battery metals and tightness in supply.
“By 2020, the picture has changed, with brine expansions and new hard rock production keep prices in check and $6,500-7,000 the new cost level.”
By that time, China’s brine resources in Tibet and Qinghai were expected to come online, reducing unit costs, while spodumene resources in Sichuan and lepidolite resources in Jianxi were “committed and probable”, Gordon said.
Even modest demand forecasts see annual lithium output growing to 500,000 mt by 2020 from around 200,000 mt currently.
BENCHMARK BATTERY PRODUCTION
According to Benchmark Mineral Intelligence’s Andy Miller, also speaking in Dublin, lithium-ion batteries developed in “gigafactories” around the world, such as Tesla’s in the US, were expected to top 175 GWh by 2020, up from around 30 GWh now.
Tesla has recently said it will reach total production by 2018, in which time it will produce more lithium-ion batteries than were produced worldwide in 2013.
With electric vehicle production expected to be around 500,000 cars per year by the end of the decade, Tesla alone will require all of current lithium production.
But the story is bigger than Tesla. Over 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of battery production in 2020 was expected in China, compared with around 20{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the US, Miller said.
“The lithium-ion industry is a China story,” Miller said, with Europe far behind.
Unlike CRU, Miller did not foresee supply outpacing demand in coming years and although he expected new spodumene supply to fill any deficit in the short term, prices should remain high on tightness.
The story for cobalt was similar, he said. Also a component in cathodes for lithium-ion batteries, prices have surged over 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} in the past 12 months on expectations of increased demand and supply tightness.
But whereas lithium supply has increased markedly in anticipation of greater demand, cobalt supply remained restricted.
Although traded on the London Metal Exchange, it is hard to access supply. Production is largely a byproduct of other metals such as nickel, so it is hard to get financing for projects based on cobalt prices, despite the recent spike.
The metal also comes nearly exclusively from the Democratic Republic of Congo, which brings with it significant supply risk, given issues around mining practice, including child labor.
CRU expected a deficit in both mined and refined cobalt supply this year and next and although stocks should be able to meet much of the increase in demand in the short term, new supply will be needed by 2020.
Artisanal supply was expected to play an important role, especially as a swing producer when supply is tight.
CRU has identified a number of processors located in the DRC around Kolowezi, Likasi and Lubumbashi, that sell concentrates believed to be derived from local small scale and artisanal operations, Gordon said.
Gordon estimated these produced around 10,500 mt of artisanal cobalt in 2015 and around 8,500 mt in 2016. She forecast around 10,000 mt this year.
At the same time, recycling remained a concern for both lithium and cobalt, accounting for a tiny proportion of refined supply currently.
With a 7-8 year life, electric vehicle battery recycling volumes should start to pick up after 2021 and producers such as Apple and Nissan have talked recently about the importance of battery recycling.
Both speakers agreed that more work was needed in terms of regulation or industry best practice in battery recycling to secure supply.
–George King Cassell, george.king.cassell@spglobal.com
–Edited by Dan Lalor, daniel.lalor@spglobal.com
- Published in Blog, King's Bay, Mining, News Home
Rare metals expert predicts North American shortage of lithium for EVs
Rare metals expert predicts North American shortage of lithium for EVs
Andrew Topf – Mining.com
http://www.mining.com/rare-metals-expert-predicts-north-american-shortage-lithium-evs/
The amount of lithium being produced in North America will not be enough to meet the growing demand for electrical vehicles, but the problem could be alleviated through recycling, a renowned authority on specialty metals said in a recent teaser video for his upcoming presentation at the Mines and Money show in Toronto.
Jack Lifton, senior editor for InvestorIntel Corp. and a consultant, author, and lecturer on technology metals such as cobalt, lithium and graphite, says he is perplexed as to why, when lithium-ion batteries have reached end of life, more are not recycled instead of landfilled. According to an article written by Palladium Energy, the U.S. EPA considers lithium-ion batteries “safe” for disposal in contrast to nickel-cadmium and lead-based battery products.
“We don’t produce enough lithium, cobalt or spherical graphite in North America to make even a fraction of the vehicles Mr. Musk tells us he’s going to be making by 2018”
The article notes the low economic gains to be made from lithium battery recycling, with the scrap value of lithium at least one-tenth of the value of lead.
Another article by Waste Management World acknowledges that electrical vehicle-makers would like to re-use lithium from recycled batteries, but contends that:
[It] does not make any economic sense to recycle the batteries. Batteries contain only a small fraction of lithium carbonate as a percent of weight and are inexpensive compared to cobalt or nickel. The average lithium cost associated with Li-ion battery production is less than 3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the production cost. Intrinsic value for the Li-ion recycling business currently comes from the valuable metals such as cobalt and nickel that are more highly priced than lithium. Due to less demand for lithium and low prices, almost none of the lithium used in consumer batteries is completely recycled.
However according to Lifton, using more recycled lithium could help to alleviate what he believes is a growing continental shortage of lithium for electric vehicles:
“We don’t produce enough lithium, cobalt or spherical graphite in North America to make even a fraction of the vehicles Mr. Musk tells us he’s going to be making by 2018,” he says in the Skype interview. “I’ve got big news for everybody watching: There are at least 20 or 25 direct-electrically powered and hybrids coming onto the market in the next five or six years. They’re coming from Europe, the US, Japan, China and Korea.”
Lifton says many in the industry are aware of the problem, but “Nobody’s doing anything they’re just talking about it.” He says recycling the batteries would not only conserve the metal that goes into the batteries, but the energy that goes into producing the vehicles, in the same way that the steel industry uses recycled steel as an input because it takes less energy than iron ore and coal to produce steel.
About 70 percent of the world’s lithium deposits are concentrated in Argentina, Bolivia and Chile. The U.S. currently imports over 80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the lithium it uses.
Tesla officials on Thursday said the company’s Gigafactory under construction east of Las Vegas is expected to begin producing lithium-ion batteries late this year for the electric car maker’s Model 3, Las Vegas Review-Journal reported.
Japan and South Korea have both recorded record high levels of lithium-ion battery exports in H1 2016, as auto companies ramp up battery consumption to power new all-electric offerings, Benchmark Mineral Intelligence said a month ago. Lithium-ion battery shipments from Japan – the world’s leading producer – topped 33,500 tonnes in H1, up 17{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from the second half of 2015 and over 31{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} year on year.
View Original: http://www.mining.com/rare-metals-expert-predicts-north-american-shortage-lithium-evs/
China’s Jien Nickel Industry acquire Canadian Lithium Company for 513 million yuan
Jien Nickel Industry: 513 million yuan acquisition of Canadian Lithium miner
June 24, 2016 release night announced that its wholly owned subsidiary “Jean international investment Limited” to establish a wholly-owned subsidiary, 9554661 Canada Inc. and RB Energy Inc., Quebec Lithium Inc. liquidation receiver KSV Kofman Inc. signed an “asset purchase agreement” to acquire Quebec Lithium Inc the main assets of.
- Published in Blog, Fairmont Resources, Mining
Fairmont Encouraged by Chinese Asset Purchase of Former Lithium Producer RB Energy
Fairmont Encouraged by Chinese Asset Purchase of Former Lithium Producer rb Energy Adjacent to Rome Lithium Property
– Momentum Public Relations – June 22nd, 2016
- Jilin Jien already active in Quebec, following the 2010 acquisition of Canadian Royalties
- Rome Lithium Property acquired by Fairmont Resources less than a month ago
- Historical underground and open pit lithium mine on property adjacent to Rome Lithium Property
Fairmont Resources Inc. (FMR: TSX-V) (“Fairmont”) is encouraged by the Court Approval yesterday of the Asset Purchase Agreement of RB Energy Inc. by Jilin Jien Nickel Industry Co. (“Jilin”).
RB Energy, who once claimed its Quebec mine would produce “the highest-quality lithium carbonate in the world”, was forced to halt operations in October 2014 after failing to complete a much needed financing. Subsequent attempts to raise financing proved to be very difficult due to market conditions at the time for Canadian resource companies. Specifically, Investment Quebec and/or KSV Advisory held discussions with 26 parties regarding the potential sale of RB Energy.
Jilin acquired the Quebec Lithium Mine for an undisclosed amount but it is estimated that approximately $150 – $200 Million in additional capital will be required to take the Lithium project to its production stage.
Michael Dehn, President and CEO Of Fairmont Resources, stated the following regarding the significance of this deal for both the Lithium industry and Fairmont’s Rome Lithium Property “Fairmont is very encouraged by the acquisition of the past producing Quebec Lithium Mine and Mill by Jilin Jien Nickel, as it provides third party validation of Fairmont’s decision last month to option of the Rome Lithium Property, which borders the property acquired by Jilin Jien. Rome added shareholder value at the time of its option and we believe this acquisition of the bordering property will add further near and long term value”.
PROXIMITY OF RB ENERGY MINE TO FAIRMONT’S ROME LITHIUM PROPERTY
The Rome Lithium property is located approximately 60 km north of Val d’Or Quebec. The property is contiguous to the north and south of RB Energy’s Quebec Lithium Mine with a published measured and indicated resources (at a 0.60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Li2O cutoff) of 41,556,000 tonnes at 1.09{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Li2O, and an inferred resource of (at a 0.60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Li20 cutoff) of 17,766,000 million tonnes at 1.10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Li2O (RB Energy Press Release of October 11, 2012).
The property is also contiguous to Jourdan Resources Vallee Lithium property that drilled more than 4000m of core in 2011 and intersected more 100 pegmatite and aplite dikes. Jourdan Resources intersected values of up to 1.187{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Li2O over 5.50m (Jourdan Resources Press Release of October 24, 2012).
For additional information on the Rome Lithium Property, please see the press release dated May 26, 2016 on Fairmont Resources website, or via the link: http://fairmontresources.ca/uploads/270.pdf
A map and photos of the Rome Lithium Property can be found here: http://fairmontresources.ca/pdf/Rome{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Lithium{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}20Property.pdf
Detailed documentation on the RB Energy transaction are available at:
http://www.rb-e.com/s/Home.asp
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00007891
http://goo.gl/RE8s31 : First Report of the Receiver dated June 13, 2016
http://goo.gl/2ljb7h : Approval Assignment and Vesting Order dated June 21, 2016
About Fairmont
Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.
Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent end user testing confirming the suitability of quartzite from Forestville for Ferro Silicon production. Fairmont is also in the process of acquiring the assets of Granitos de Badajoz (GRABASA) in Spain which includes 23 quarries and a 40,000 square metre granite finishing facility that has produced finished granite installed across Europe.
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