LiCo’s Lithium & Cobalt Properties: World Class Results in World Class Locations

The Teledyne Mine portal near the historic Cobalt Mining Camp in northeast Ontario. Source: LiCo Energy Metals Inc.

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LiCo Energy Metals Inc. [LIC-TSXV; WCTXF-OTCQB; 43W1-FRA] is involved in the exploration for battery metals, also known as energy metals that are used to manufacture lithium-ion batteries. Lithium-ion batteries are utilized in electric vehicles, cell phones and other electronic devices.

The company is active with projects targeting lithium and cobalt in Canada, the United States and Chile.  LiCo completed its 2017, 32-hole diamond drilling program on its Teledyne and Glencore Bucke properties 6 km north of the famous silver-cobalt camp at Cobalt, northeast Ontario. Drilling continues.

On the Teledyne property, drill hole TE17-05 returned 2.32% cobalt over 4.0 metres, including 21.9% cobalt over 0.36 metres. TE17-04 assayed 1.82% cobalt over 6.0 metres, including 5.06% cobalt over 1.75 metres and 18.70% cobalt over 0.15 metres. Other holes returned good cobalt values.

On the Glencore Bucke property, recent drill results included hole GB17-15 with 0.17% cobalt, 19.9 ppm silver, and 0.90% copper over 20.20 metres, including 8.42 % cobalt, 136 ppm silver over 0.30 metres. Earlier drill results included 0.55% cobalt over 5.00 metres from 28.00 to 33.00 metres. Earlier, LiCo reported 1.11% cobalt, 16.6 ppm silver over 2.0 metres, including 7.64% cobalt and 9.1 ppm silver over 0.26 metres as well as 4.45% cobalt and 34.2 ppm silver over 0.30 metres. Drilling has confirmed and extended cobalt mineralization at Glencore Bucke that are consistent with historical grades in the Cobalt Camp.

LiCo has signed a property purchase agreement to acquire a 100% interest from Glencore plc in the Glencore Bucke, subject to a back-in provision, production royalty and off-take agreement. The Glencore Bucke property and sits along the west boundary of LiCo’s Teledyne Project where LiCo can earn a 100% interest, subject to a 2% NSR.

The Teledyne property adjoins the south and west boundaries of claims that hosted the Agaunico Mine that produced 4,350,000 lbs of cobalt and 980,000 oz of silver between 1905 and 1961. A significant portion of the cobalt that was produced was located along structures that extended southward onto the Teledyne property.

In Nevada, LiCo Energy has two lithium exploration projects: the 100%-optioned (subject to 3% NSR) Dixie Valley property in Churchill County and the Black Rock Desert property, also 100% optioned (3% NSR), in Washoe County.

The six Dixie Valley claim blocks totaling 2,817 hectares cover the majority of the Humboldt Salt Marsh playa located in the under explored Dixie Valley of west-central Nevada, about 160 km east-northeast of Reno. The lithium target model for Dixie Valley is a Clayton Valley-style playa brine type deposit. Dixie Valley hosts a favourable geological environment for these types of lithium deposits. LiCo exploration plans include auger or push rod type mud sampling to prove lithium has concentrated in evaporite minerals and interstitial fluids within the playa sediments.

At the 3,980-hectare property in the southwest Black Rock Desert, LiCo has received positive soil sampling results with 73 out of 88 samples containing more than 100 ppm Li. Together, the combined grids contain 258 samples of which 239 samples had values of greater than 100 ppm Li. Maximum values ranged up to 520 ppm Li. This property warrants detailed exploration drilling for a Clayton Valley-type brine deposit.

In Chile, LiCo’s 160-hectare Purickuta Project is one of the few “exploitation concessions” granted within the Salar de Atacama, which produces about 37% of the world’s lithium. The property is within an existing exploitation concession owned by SQM. About 22 km southeast of Purickuta, SQM and Albemarle have large-scale production facilities that collectively produce over 62,000 tonnes of lithium carbonate equivalent annually and account for 100% of Chile’s lithium output.

LiCo can earn a 50% interest in Purickuta from Durus Copper by spending US $8.4 million and issuing 5 million shares. Another 10% can be earned by spending US $10 million on building a processing plant. There is a temporary force majeure notification in effect while the company informs local residents of its plans.

LiCo Energy Metals has 140,670,300 shares outstanding.

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