King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
King’s Bay Applies for Exploration Permit for Phase 2 Exploration on the Lynx Lake Project in Labrador
Momentum Public Relations
Press Release: July 6, 2017
Vancouver BC. (FSCwire) – King’s Bay Gold Corporation (TSX.V: KBG) (FSE: KGB1), operating as “King’s Bay”, a mineral exploration company based in Vancouver submits application to Newfoundland and Labrador Government, Department of Natural Resources for the commencement of phase 2 of the exploration program in south eastern Labrador.
Phase 2 of the Lynx Lake exploration program will involve ground truthing for the recently flown VTEM survey, which highlighted an area of low resistivity in the western pit of mineralization. The size of the anomaly is anticipated to be ranging in depth from 50-300meters and estimated to be approximately 400 meters in diameter. The “west pit” has been historically sampled yielding assays of up to 1.03{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Copper, 0.56{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cobalt, 0.23{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Vanadium, 0.10{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Nickel and 5.0g/t Silver.
The exploration program will consist of a localized ground electromagnetic survey over the anomaly at 20-meter line spacing. It will also include reconnaissance for bedrock exposure in the underexplored anomalous area that runs south of the west pit.
About Lynx Lake
The Lynx lake Project has returned historical grab samples assaying up to 1.39{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co, 0.21{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni and 6.5g/t Ag. Government regional low resolution residual magnetic surveys and preliminary handheld electromagnetic unit surveys done by local prospectors have shown strong conductors beneath the overburden, and provide incentive to explore the area further for additional subsurface mineralization. The Project is located directly adjacent to a 3 phase powerline and the Trans-Labrador Highway.
About King’s Bay
King’s Bay is focused on the exploration of cobalt and other high‐tech metals in North America. The company believes in this emerging fast‐growth sector and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as King’s Bay.
On Behalf of the Board,
Kevin Bottomley
CEO, President
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not raise sufficient funds to carry out our plans, changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on current data that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/King’sBay07062017.pdf
Source: King’s Bay Gold Corporation (TSX Venture:KBG)
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- Published in King's Bay, Mining, News Home
The Tesla Gigafactory: A Clean Energy Planet
The Tesla Gigafactory: A Clean Energy Planet
Tesla Motors is currently building a gigafactory. Some of you may be confused about what that is exactly, and why Tesla may need such a huge facility. When finished, the gigafactory will be the largest building in the world in terms of footprint, with 5.5 Million square feet. This will be second only to Boeing’s Everett factory (4.3 Million square feet). The endeavour is also very expensive, with an estimated cost of US$5 Billion. In line with Elon Musk’s goal to transition the world to renewable energy, the gigafactory will be entirely self-sufficient and powered by solar panels. The entire roof of the factory will be covered with solar cells, which are expected to produce 70MW of power. To give you an idea, the largest rooftop array in the world right now produces 11.5MW (in India).
A clean planet
Elon Musk recently stated in a Ted Talk that his ultimate goal is to make the world run entirely on renewable energy. To make this happen, he aims to produce 500,000 electric vehicles per year. This cannot be done economically if the parts have to be transported halfway across the world several times before the product is finished. Thus the need for a centralized facility, where the materials come in one end, and the finished vehicle comes out the other.
The gigafactory has already started producing the most innovative and crucial element of these cars: their lithium-ion batteries. And Tesla’s new 2170 battery cell is not only more efficient, but also cheaper than most on the market. The 2170 is around 10 per cent larger than its predecessor (the 18650 cell), but can store up to double the charge. It will also drop battery production cost by 25 per cent.
The essential element
In these super-powerful batteries is a crucial element: cobalt. For example, there is approximately 22.5 kilograms of it in Tesla’s Model S. The metal is currently mostly mined in the Democratic Republic of the Congo (DRC); where labour conditions are generally problematic and child labour is frequent. Consequently, Elon Musk has stated that all cobalt used by Tesla will only come from North America. Some have pointed out that it may be difficult to find enough ethical cobalt at feasible prices. But there is cobalt in North America, and King’s Bay (TSV:KBG, FSE:KGB1) is looking for it at the Lynx Lake Property in Labrador (Canada). The company is confident in the preliminary samples from the asset: “Grab samples from gossanous areas of the eastern rock pit have yielded assays up to 0.94{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co”. For the preliminary Versatile Time Domain Electromagnetic (VTEM) results, have a look at King’s Bay’s latest news release.
About King’s Bay
King’s Bay is a Vancouver based company focused on the exploration of cobalt, and other high-tech metals in North America. The company believes in this emerging fast-growth sector, and will continue to seek out and evaluate properties that show promise for development. King’s Bay Gold Corp is operating as “King’s Bay”.
Juliette Benard
Media Relations Director
- Published in Blog, Energy, King's Bay, Mining, 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
Cruz Cobalt applies for Hector exploration permit
Cruz Cobalt applies for Hector exploration permit
Momentum Public Relations
Press Release: April 19, 2017
Mr. James Nelson reports
CRUZ COBALT TO MAKE APPLICATION FOR EXPLORATION PERMIT ON THE HECTOR COBALT PROSPECT IN ONTARIO
Cruz Cobalt Corp. is making an application for an exploration permit on its 5,500-acre Hector cobalt prospect. This prospect is one of four cobalt projects Cruz has in Ontario all located in the vicinity of the city of Cobalt, home to one of the largest cobalt/silver districts in North America. This permit will cover the following activities of mechanized drilling, mechanized stripping, the pitting and trenching of bedrock, and line cutting.
Cruz president James Nelson stated: “This is the third cobalt work application we have made so far this year, all around the town of cobalt. Cruz is one of the largest landholders in this district and was able to acquire this acreage at a time when cobalt prices were significantly lower than today, and at a time when the majority of the land was open for acquisition. Now, there is virtually no land available in the area that has not been staked and the price of cobalt is over $25, reaching eight-year highs this month. Cruz will be one of the most active junior miners in this district in the coming months and we have more than enough capital on hand to commence multiple cobalt work programs all across North America.”
Cruz currently has nine cobalt projects located throughout North America, comprising four in Ontario, three in British Columbia, one in Idaho and one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt, making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 900-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 5,500-acre Hector cobalt prospect and the 1,480-acre Bucke cobalt prospect. The company’s 4,935-acre War Eagle cobalt prospect in British Columbia covers a past-producing mine.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cruz Cobalt to apply for exploration permit at Johnson Cobalt Prospect in Ontario
Cruz Cobalt to apply for exploration permit at Johnson Cobalt Prospect in Ontario
– Momentum Public Relations –
Press Release: March 17, 2017
Mr. James Nelson reports
Cruz Cobalt Corp. is making an application for an exploration permit on its Johnson cobalt prospect. This prospect is located in the vicinity of the city of Cobalt, home to one of the largest cobalt/silver districts in North America. This permit will cover the following activities of mechanized drilling, mechanized stripping, the pitting and trenching of bedrock, and line cutting.
Cruz president James Nelson stated: “We are pleased to have started the process to be able to commence work on another of our cobalt prospects in Ontario. We have now started the process on two separate cobalt prospects in the premier address for cobalt in Canada. Cruz has amassed one of the largest land packages in the cobalt district right around the city of Cobalt and we plan to be active on all of these projects this season. Cruz will be one of the most active juniors in the region and being one of the first entrants in the cobalt space gives Cruz an early mover advantage by being able to hand pick its Cobalt prospects, before most new entrants considered cobalt as a target. Cruz has enough cash on hand to commence operations on all the Ontario cobalt projects.”
Cruz currently has seven cobalt projects located in Canada, one in Idaho and now one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt making Cruz one of the largest land holders in this emerging cobalt district. The 900-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 5,500-acre Hector cobalt prospect and the 1,480-acre Bucke cobalt prospect. The company’s 4,935-acre War Eagle cobalt prospect in British Columbia covers a past-producing mine.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home
Cruz Cobalt agreement for Chicken Hawk
Cruz Cobalt agreement for Chicken Hawk
– Momentum Public Relations –
Press Release: March 13, 2017
2017-03-13 16:11 ET – Property Agreement
The TSX Venture Exchange has accepted for filing an agreement dated Feb. 27, 2017, between Cruz Cobalt Corp. and Chancellor Corp. (Dane Brown), whereby Cruz Cobalt is acquiring a 100-per-cent interest in the Chicken Hawk prospect in southwestern Montana. In consideration, the company will issue three million common shares.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Cruz Cobalt, Mining, News Home