Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) announce that it has completed an orientation survey at Teels Marsh, Esmeralda County Nevada. Nevada Energy Metals collected twenty-seven shallow auger sediment samples from the Teels Marsh West Project area April 18 – 20, 2016. The sampling program was primarily a test of the sampling method to see if it could be used to collect samples beneath low sand dunes and alluvial gravel. This goal was met in most locations.

As quoted in the press release:

Samples were collected using a powered auger to reach a maximum depth of 2.9 meters (9.5 ft.) below the surface. The holes were initially drilled with an electric auger and bottom hole samples were collected with a hand tulip style sampler. Sampling was conducted by Pediment Gold LLC of Sparks, Nevada. Samples were collected on site and transported to the ALS Global preparation facility in Elko, Nevada by the Nevada Energy Metals project geologist. Samples were analyzed by ALS using their MEMS41 multi-element package. QA/QC standards and blanks were inserted into the sample stream to assure accuracy.

Lithium values ranged from 8.9 to 104.5 ppm. The two best results (93.2 and 104.5) were obtained downstream of thermal springs on the western part of the property. A general increase in values was noted at the playa margin with lower values in the alluvial fan on the southwestern part of the property. Many of the sites on the alluvial fan did not penetrate to the maximum depth due to boulders. Sampling was supervised by Alan J. Morris CPG who serves as the project geologist and Qualified Person on the Teels Marsh West Project.

Connect with Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) to receive an Investor Presentation.

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Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) announced that it has acquired water rights at its 100% owned Teels Marsh Lithium project located in Mineral County, Nevada.

As quoted in the press release:

In May of 2015, Dajin began the process of applying for water rights through the Nevada Division of Water Resources (NDWR) (State Engineer). Dajin’s Application #85204 sought to appropriate 620 gallons per minutes or 1,000 acre feet per annum of underground (UG) water rights in the Teels Marsh Valley in Hydrographic Basin #114. This quantity of water represents the total amount of unappropriated groundwater water that existed in the Teels Marsh hydrographic basin when the application was filed. The water rights were granted and Permit #85204 was issued on May 24, 2016. Dajin is planning a drill program for the fall of 2016 to prove up the water resource as well as continue its exploration of the Lithium brine potential at Teels Marsh.

Dajin believes that the acquisition of water rights is an important aspect of Lithium brine extraction and processing. Low cost and time proven traditional extraction methods require concentration of brines by evaporation in surface ponds. New technologies are being developed that use less water and can potentially return processed water to the reservoir. However, Dajin wishes to maintain maximum flexibility in the adoption of any future process technology for the extraction of Lithium from brine at Teels Marsh, hence the acquisition of water rights is an important step forward in Dajin’s development plans.

Connect with Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) to receive an Investor Presentation.

 

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Alset Energy (TSXV:ION) has announced updates for its Wisa lithium and Champion graphite projects.

As quoted in the press release:

As part of the Company’s due diligence, five grab samples were collected from the two historical zones at Wisa Lake. Two grab samples collected from the North Zone graded 1.4% and 0.95% Li20 which are comparable to the grade of the non-NI 43-101 compliant historical resource of 330,000 tonnes grading 1.15% Li2O (Lexindin Gold Mines Ltd., Manager’s Report, 1958 – referred to in OGS, Open File Report 6285, Report of Activities 2012). Three additional grab samples were collected in the South Zone, located 900m south and parallel to the North Zone, which graded 1.75%, 1.47% and 1.45% Li2O. Both zones were drilled in the 1950’s but very little work has been completed since. Alset has now collected and submitted for assay, an additional 56 grab samples from various pegmatites occurring on the property. Of particular interest is a newly discovered spodumene-bearing dyke located 100m south of the South Zone. Once received, these results will help guide the next phase of exploration.

The Company has also completed a small prospecting program on the recently acquired Champion Graphite project (see Company PR dated April 20, 2016). Using a geophysical instrument designed by Geonics Limited in 1963 known has the Ronka EM 15, the Company identified and confirmed multiple individual conductive zones associated with flake graphite in overburden covered areas. Seven small individual holes dug to bedrock at a depth of approximately 1m over a distance of approximately 1.3km across stratigraphy has identified flake graphite that graded from 1.7% to 8.98% Carbon. The Company is very encouraged with these initial grab samples and is planning further stripping work to commence as soon as possible. The Company cautions all the sampling results above are selected grab samples and may not be reflective of the average grade of any of these identified zones.

Click here to read the full press release.

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Purepoint Uranium Group (TSX:PTU) has announced that the Hook Lake JV partners have reallocated funds for continued drilling at the Spitfire Zone. The Hook Lake JV project is jointly owned by Cameco Corp (39.5 percent), AREVA Resources Canada Inc (39.5 percent) and Purepoint Uranium (21 percent).

As quoted in the press release:

Exploration success continued at the Spitfire Zone during 2016 with additional significant drill intercepts containing high-grade uranium mineralization. A highlight of the winter drill program was hole HK16-53 that intersected 10.0 metres of 10.3% U₃O₈, including 1.3 metres of 53.5% U₃O₈ (Purepoint PR of April 21, 2016). Based on the promising drill results, the Hook Lake JV partners have reallocated funds towards conducting additional diamond drilling. A proposed drill program is currently being prepared for approval and will be based on the 2016 drill results that include recently received geochemical assays and a structural interpretation based on the downhole acoustic televiewer results.

Highlights:

• Funding for a drill program at the Spitfire Zone has been approved by the Hook Lake JV Partners (AREVA Resources Canada Inc. and Cameco Corp.) to commence later this year, pending acceptance of the program plan;
• The Upper Spitfire zone (230 metres below surface) remains open around the high-grade uranium intercepts including north of Hole HK16-47 (0.88% U₃O₈ over 20.1 metres), south of Hole HK16-43 (4.07% U₃O₈ over 3.1 metres, 1.19% U₃O₈ over 4.7 metres and 0.71% U₃O₈ over 7.2 metres) and up-dip of Hole HK16-53 (10.3% U₃O₈over 10.0 metres);
• High priority exploration targets include step-outs from the Spitfire South mineralization (HK14-09 with 0.32% U₃O₈over 6.2m) and the Lower Spitfire mineralization (HK15-27 with 12.9% U₃O₈ over 0.4 metres within 2.23% U₃O₈over 2.8 metres);
• The Patterson high-grade mineralized trend remains relatively untested for an additional eight kilometers to the northeast; and
• The Hornet Zone is now considered to be related to the mineralized Spitfire graphitic structure based on drill results produced while testing other conductors within the southern portion of the Patterson Corridor.
• Updated figures are available on the Company’s web site (http://www.purepoint.ca/uraniumprojects/hooklake.php).

Click here to read the full press release.

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American Lithium (TSXV:LI) has entered an agreement to acquire an arms-length, privately held British Columbia numbered company, through which it will acquire an additional 7,1110 acres in Nevada.

As quoted in the press release:

1067323 holds the rights to acquire a series of 193 placer and 44 lode claims, over 4,870 acres (1971 hectares) in Fish Lake Valley,Esmeralda County, Nevada (the “Colorado Property”).  Additionally, 1067323 holds the rights to acquire the San Emidio property (“San Emidio Property”), representing a series of twenty-eight (28) placer claims, over 2,240 acres (907 hectares) in Washoe County, Nevada.  The Company will issue 6,000,000 common shares to acquire all of the outstanding share capital of 1067323.

American Lithium CEO, Mike Kobler, said:

In acquiring the Colorado and San Emidio properties, we have increased our Nevadaportfolio of highly prospective lithium brine projects to over 20,000 acres.  The acquisition of the Colorado property completes our Fish Lake Valley acquisition strategy at 18,550 contiguous acres and positions American Lithium as the dominant claim holder in this important lithium brine basin.  The acquisition of the San Emidio property located in north Nevada now moves us to the next stage of our strategy as we begin to diversify our asset base by identifying and acquiring the best lithium properties in the state.

The San Emidio property was the focus of extensive exploration programs carried out over a four year period including a gravity geophysical survey completed in 2011, which indicates that an earlier discovered near surface lithium brine anomaly occurs on the west side of a basinal low.  The proximity to a feature of this nature and the presence of lithium in the brines are criteria that are necessary for the formation of a Silver Peak style lithium brine deposit.

Click here for the full press release.

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In a recent interview with Palisade Radio Western Uranium Corporation (CSNX:WUC) (OTCQX:WSTRF) President and CEO George Glasier discussed how world-wide uranium supply will not meet demand and how the ablation technology set to greatly reduce production costs and lower environmental impact.

Listen to the full interview:

Connect with Western Uranium Corporation (CSNX:WUC) (OTCQX:WSTRF) to receive an Investor Presentation.

The post Western Uranium CEO George Glasier: Uranium Legend Talks Upcoming Uranium Boom and Best Way to Play appeared first on Investing News Network.

Forum Uranium Corp. (TSXV:FDC) announced that it has acquired a 100% interest in two claims totaling 6,530 hectares in the Russell Lake area, 20 kilometres northeast of the Cameco/AREVA Key Lake Mine and Mill in the eastern Athabasca Basin.

As quoted in the press release:

AREVA Resources Canada’s Mam Lake Uranium Zone is located along an east-northeast electromagnetic conductor that contains a strongly tectonized, 10km long graphitic meta-pelitic gneiss unit. It is interpreted that this graphitic unit and a sub-parallel graphitic unit to the north extend on to Forum’s Wham property, located 2 kilometres on trend to the east of the Mam Lake Uranium Zone. The Mam Lake Uranium Zone was drilled in 1978/79 and outlined a 600 metre long by 100 metre wide zone of uranium mineralization. The strongest drill intersection was a 4.5 metre interval from 171.8 metres to 176.3 metres grading 1.1% U₃O₈ with a 0.3 metre interval at 173.3 metres to 173.6 metres grading 6.8% U₃O₈.

The depth to the unconformity on the Wham property is interpreted to be approximately 200 metres. The regional airborne magnetic map shows that the entire Wham property is situated within a broad magnetic low zone. Additional electromagnetic, magnetic and gravity surveys are recommended to explore the possible extension of the Mam Lake Corridor on to Forum’s Wham property.

Forum Uranium Vice President, Exploration, Ken Wheatley, stated:

Forum is always on the lookout for quality exploration prospects in the Athabasca Basin. The Wham property fits Forum’s exploration criteria of being well located to existing infrastructure and with uranium potential at shallow depths. Rio Tinto Exploration and AREVA Resources Canada claims surround the Wham property and they are actively exploring in the area.

Connect with Forum Uranium Corp. (TSXV:FDC) to receive an Investor Presentation.

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Avalon Advanced Materials Inc. (TSX:AVL,OTCQX:AVLNF) (formerly Avalon Rare Metals Inc.) announced an update on the 2016 work program on its 100% owned Separation Rapids Lithium Project, near Kenora, Ontario.

As quoted in the press release:

The Company has initiated its lithium hydrometallurgical process development work at the facilities of Thibault and Associates Inc., Fredericton, New Brunswick (“Thibault”), utilizing the bulk concentrate sample produced in the winter. Thibault are experts in applied process chemical engineering, with considerable experience in rare metals including lithium. The work is scheduled for completion in late June, following which the Preliminary Economic Assessment (“PEA”) will be finalized.

Lithium Hydrometallurgical Process Development

The focus of the hydrometallurgical process development work is to produce a lithium hydroxide product from a petalite (lithium mineral) concentrate suitable for use in lithium ion batteries. Preliminary work demonstrated that this product could be achieved employing a flowsheet using sulphuric acid as the primary solvent.

Recent work has successfully produced a very high purity lithium sulphate solution from the petalite concentrate. This is currently being converted to lithium hydroxide solution via an established electrolysis process using another service provider. Preliminary observations indicate a lithium hydroxide conversion efficiency matching, and possibly exceeding, original expectations.

Feldspar and Silica By-Products

Avalon is awaiting the results of testwork being conducted in Europe to evaluate the suitability of the feldspar by-product as a paint filler product. Discussions with vendors of suitable mills for the fine grinding requirements both in Europe and North America are already in progress. Results of testwork evaluating the potential production of a high purity silica by-product are also awaited and should be available by the end of May. Successful inclusion of one or both by-products into the final project will potentially improve overall project economics and reduce the environmental footprint.

Avalon is also awaiting further feedback from potential glass industry customers interested in the petalite concentrate as an industrial mineral product for glass-ceramics.

Other Project Activities and Future Plans

Engineering work continues for the PEA, which is currently scheduled for completion this summer. The Company is advancing capital and operating cost estimates and evaluating various production scenarios. Samples of products from the flotation plant process have been sent for environmental testing as part of the project permitting process.

Avalon continues to investigate the possibility of developing a clean, low cost “run-of-river” hydro-power supply to the mine site with potential development partners. At least three sites have been identified along the English River near the deposit that offer this potential. Clean, low-cost hydro-power generation could provide environmental benefits and economic benefits both to the project and to local business partners interested in this opportunity.

A diamond drilling program is tentatively planned for August/September with the objective of demonstrating potential for significant additions to the historical mineral resources originally delineated in 1997-2001.  The known resource remains open for expansion to depth and along strike.

Connect with Avalon Advanced Materials Inc. (TSX:AVL,OTCQX:AVLNF) to receive an Investor Presentation.

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With all of the excitement going on in the lithium sector, it can be difficult for investors to know what to look for. Take assay results from lithium exploration projects, for example. What does a good lithium assay look like?

With all of the lithium juniors staking claims in Nevada’s Clayton Valley and beyond, investors interested in early stage lithium explorers will need to know their stuff in order to accurately assess all of the options available.

To get a bit more insight into that subject, the Investing News Network reached out to Catherine Hickson, world renowned volcanologist and director of Dajin Resources (TSXV:DJI,OTCMKTS:DJIFF), for her thoughts. With her permission, we’re sharing the key points from her emailed note here. Not surprisingly, the quality of a lithium assay depends on a number of different factors, including the type of deposit and its location.

The points below pertain mainly to brine and clay based lithium deposits. Hard-rock spodumene deposits must be considered differently.

Assessing lithium brine and clay assays

First, Hickson wrote about sediment samples:

It actually depends on the area and whether we are talking about brines or sediment samples. Many high numbers (i.e., > 400 ppm) are common in sediment samples from the playas in Nevada.  Mostly this is Li that is bound up in hectorite and other types of clay and evaporitic minerals.

These types of minerals have proven difficult from an extraction perspective (see for example the work of Western Lithium (now Lithium Americas (TSX:LAC)) on their King’s Valley property.  These lithium rich clays do have other uses, such as “muds” in drilling applications such as oil wells.

For brine resources, assay numbers will also depend on the location of the deposit:

In terms of brines, in Nevada values above 100 ppm would be very encouraging, and numbers in the 400 ppm would be very good. For Argentina you would like to see numbers above 400 ppm.

Some of the new extraction technologies claim to be able to be able to profitably extract lithium from brines with as little as 20 ppm lithium (see for example Pure Energy’s (TSXV:PE) 43-101 from last year). So I guess if this is true anything above 20 ppm would be a winner – but I remain somewhat skeptical.

Finally, Hickson pointed out that high numbers are not the be-all, end-all when it comes to lithium assays. The make-up of the deposit is important as well:

One thing that is important to consider is the actual brine chemistry. For example, if a brine is high in magnesium it is both costly and a challenge to create a high purity final product.

The Salar de Uyuni in Bolivia, for example, has very high lithium values in the brines but also has proven a challenge to purify cost effectively.  The same is true with some of the brines from Utah (i.e., the Great Salt Lake and other places).  They have high lithium values, but also high magnesium. So…it is not just about the numbers!

Certainly, there’s plenty to consider when looking at exploration results from junior lithium companies. Whether it’s a lithium junior that has just entered the space, or one that is at a more advanced stage, investors should have a strong grasp of the company’s project and how to assess drilling and exploration results.

Lithium companies

To get an idea of some of the companies operating in the lithium space right now, start by checking out:

• Our list of 17 lithium projects with resource estimates
• This overview of companies with projects in Nevada’s Clayton Valley
• This list of the world’s top lithium producers

Don’t forget to follow us @INN_Resource for real-time news updates!

 

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article. 

Editorial Disclosure: Dajin Resources is a client of the Investing News Network. This article is part of the company’s paid advertising campaign.

The post What Does a Good Lithium Assay Look Like? appeared first on Investing News Network.

Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced has received the first $5-million tranche from Ressources Quebec Inc., a subsidiary of Investissement Quebec, acting as a mandatary for the government of Quebec. The private placement with Ressources Quebec, totalling $10-million, was announced on March 11, 2016, and was held in escrow until the closing of the Johnson Matthew battery materials transaction. The remaining balance of $5-million is being held in escrow and will be released to Nemaska Lithium upon achievement of certain project milestones for the phase 1 plant.

Nemaska Lithium President and CEO, Guy Bourassa, stated:

This new cash instalment allows us to continue on schedule with the development of the phase 1 plant, with a goal of commissioning the plant by the end of this year and delivering commercial samples of battery grade lithium hydroxide to customers in 2017,” said Guy Bourassa, President and CEO of Nemaska Lithium. “The Phase 1 Plant is a crucial marketing tool which will save us time and money once we are in full commercial production. By qualifying the lithium hydroxide produced from the Phase 1 Plant, our customers will have confidence in the quality and homogeneity of our products well before the mine and commercial Hydromet plant start commercial production.

Connect with Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) to receive an Investor Presentation.

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Lithium-ion battery production has tripled in 2015, Clean Technica reported.

As quoted in the publication:

The report revealed that in May 2016 alone, around RMB2.6 billion (~$400 million) was put into the country’s lithium-ion battery sector — most of the funds originating from Tianqi Lithium, Ganfeng Lithium, and GEM CO.

The growth of the Chinese electrochemical energy storage market over the past 5 years has notably eclipsed the global average, the report also notes, with a CAGR (2010–2015) of 110%. That’s roughly 6 times higher than the global figure. The lithium-ion battery market accounted for about 66% of that market.

Click here for the full article.

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Divergent Energy (TSXV:DVG) has released its financial results for the three-months ended March 31, 2016.

As quoted in the press release:

Q1 2016 FINANCIAL AND OPERATING HIGHLIGHTS

Divergent’s submersible pump business in Gillette, WY set record sales of USD$2.1million for that division, beating the previous record quarter of USD$1.9MM set in Q3 2010. The Gillette business also increased gross profit to USD$441k in Q1 2016 as compared to USD$411k in Q1 2015 and USD$321k in Q4 2015.

The Corporation’s success in the submersible pump business continues and set an all time quarterly revenue record for the Gillette, WY operation. Our business is focused on production optimization and reducing operating expenses in mature fields (existing wells), and is therefore not directly affected by fluctuations in drilling activity. For 2016, we anticipate continued growth from our Gillette, WY operation and the commercialization of the Corporation’s Linear Electric Submersible Pump (the “Linear Pump”).

The most recent shipment of Linear Pumps arrived on May 12, 2016 and one of the Pumps was successfully installed on May 17, 2016 and is currently operating in a client well in SE Saskatchewan. This shipment of Linear Pumps represents many years of engineering and testing, and is expected to be the final commercial version of the Pump. Additional installations are expected to follow with other interested clients.

Click here to read the full press release.

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600 tonnes of melted radioactive fuel from three nuclear reactors in Fukushima remains missing.

As quoted in the news article:

The company hopes to locate and start removing the missing fuel from 2021, the Tokyo Electric Power Company’s (TEPCO) chief of decommissioning at Fukushima, Naohiro Masuda, revealed.

The fuel extraction technology is yet to be elaborated upon, he added.

Following the tsunami-caused 2011 meltdown at Fukushima Dai-ichi nuclear power plant uranium fuel of three power generating reactors gained critical temperature and burnt through the respective reactor pressure vessels, concentrating somewhere on the lower levels of the station currently filled with water.

The melted nuclear fuel from Reactor 1 poured out completely, estimated 30 to 50 percent of fuel from Reactor 2 and 3 remained in the active zone, Masuda said.

The official estimates that  approximately “200 tons of [nuclear fuel] debris lies within each unit,” which makes in total about 600 tons of melted fuel mixed up with metal construction elements, concrete and whatever else was down there.

Click here to read the full news article.

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Fission 3.0 (TSXV:FUU) has announced that due to a  number of prospective areas identified, it will be conducting an airbrne Versatile Time Domain Electromagnetic survey at its Beaver River project located in the north-central edge of the Athabasca Basin in Saskatchewan.

As quoted in the press release:

The property is host to numerous electro-magnetic (EM) basement conductors and several uranium showings, including historic surface outcrop sample assays of up to 3.66% U₃O₈. In addition, historic investigations have identified mineralization over a strike length of 137m with select samples assaying up to 1.77% U₃O₈across 0.9m width. Fission 3.0 considers Beaver River to be highly prospective and will use the VTEM survey to follow up a previous airborne survey conducted by the company that discovered several areas of interest and highlighted numerous anomalous radioactive readings.

Ross McElroy, COO, said:

The Beaver River project is situated in the Beaverlodge district, to the northwest of the Athabasca Basin. The Beaverlodge district is home to Saskatchewan’s early uranium producing mines in the 1950’s and 1960’s. The project is host to many basement EM conductors, and a number of historic high-grade uranium showings in outcrops, including the Mathews Lake showing where assays revealed anomalous uranium mineralization over a strike length of approximately 137m, including values of 1.77% U₃O₈across 3 ft (0.9 m). In many ways, Fission 3’s technical team views the project as analogous to Fission Uranium’s PLS project located on the southwest side of the Athabasca Basin. Both represent largely underexplored areas where highly prospective basement conductors are associated with uranium mineralization.

Click here to read the full press release.

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Sociedad Química y Minera de Chile (NYSE:SQM) noted that CORFO has said it will request an additional arbitration proceeding related to its aim to terminate the Salar de Atacama project agreement with SQM. The company suggested that this seemed to be an addition to existing proceedings.

As quoted in the press release:

The objective of this new arbitration lawsuit seems to be to correct an omission on CORFO’s part. The new lawsuit seems to be based on arguments similar to those set forth in the existing arbitration proceeding.

SQM reiterates its position that it completely disagrees with CORFO’s claims calling for the early termination of the “Salar de Atacama Project Agreement”—just as it did when CORFO called for early termination of the “Lease Agreement”—and it rejects all of the arguments that have been set forth for such purpose. SQM and its subsidiaries have fully complied with all of the obligations established in these Contracts and mutually agreed upon with CORFO in a timely manner for over 20 years. In addition, SQM S.A. and its subsidiaries have acted in good faith in fulfilling their contractual obligations, and none of their actions have ever put the continuity of the mining and industrial activities of SQM in the Salar de Atacama at risk.

In addition, SQM emphasizes that CORFO itself has been the party to these Contracts that has been systematically carrying out a series of actions in violation of specific and substantive obligations that CORFO assumed in such Contracts.

Click here for the full press release.

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Laramide Resources (TSX:LAM) has announced that it has received an extension from Rio Tinto Exploration to complete certain work programs and meet expenditure obligations related to the earn-in periods on the Rio Tinto Murphy Farm-In and Joint Venture tenements in the Northern Territory of Australia.

As quoted in the press release:

Further, the Company plans to commence an exploration program on this highly prospective ground consisting of geochemical sampling and field mapping of targets identified in the 2014 airborne geophysical survey on the RTX Murphy tenements which consisted of 16,281 line km.  The exploration program will define targets for follow up drilling however remains subject to certain approvals.

RTX Murphy tenements are along strike from Laramide’s flagship Westmoreland Project in northwest Queensland, and are situated geologically within the Murphy Uranium Province in the Northern Territory, Australia. The tenements cover an area of 966 km².

Amendments related to the variation agreement include:

• The initial earn-in commitment to spend $1 million in exploration activities (inclusive of expenditures to date of approximately $600,000) has a completion date of November 13, 2016
• The other earn-in periods over the 4-year farm-in period received corresponding extensions from the original completion dates.

Consideration for this extension to RTX is a fee of A$100,000.

Click here to read the full press release.

The post Laramide Resources Provides Update on Rio Tinto Exploration appeared first on Investing News Network.

An in-depth presentation released by Devonshire Research Group has argued that Tesla Motors (NASDAQ:TSLA) may be overvalued. The firm lays out three arguments as to why it believes Tesla Motors stock is valued too high.

As quoted in the press release:

Tesla is a commendable company because it has been able to build a meaningful market position in one of the most difficult-to-enter industries. It has created valuable, innovative technology, exciting new car designs and pushed the automotive industry towards increased environmental-friendliness. Unfortunately, it has relied heavily on existing technology in designing a successful EV model, and while it may have generated some valuable IP it now controls little of it and has questionable sustainable competitive advantage in technology. Hype surrounding Tesla’s success has translated into significant overvaluation of the stock. Fundamental analysis of Tesla’s financials, technology, and intellectual property, however, paint a different picture and show that the company’s value is significantly lower than the current market valuation.

Click here for the full press release.

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Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) announce that the Company has been approved by Mergent’s Editorial Board and will remain “Blue-Skyed” with a new listing in Mergent Manuals and News Reports.

As quoted in the press release:

Nevada Energy Metals’ corporate profile, which includes descriptive text, data, news and financial statements, will be accessible through Mergent’s online and print products.

As part of Mergent’s listing services, the new description will be highlighted separately on www.mergent.com with an active hyperlink back to Nevada Energy Metals’ website.

The Mergent Industrial Manual and News Reports™ is a recognized securities manual in 39 states for purposes of Blue Sky Manual Exemption.  First published in 1918, and formerly known as Moody’s™ Manuals and News Reports, the publication was rebranded as Mergent Manuals and News Reports when Mergent, Inc. acquired Moody’s^™ Financial Information Services division in 1998.  Nevada Energy Metals’ listing will aid in opening the company up to a much broader investment base.  However, it is recommended that brokers confirm with their compliance/legal department concerning “Blue Sky” laws in specific states and other regulatory laws that might affect them.

Connect with Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) to receive an Investor Presentation.

 

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Avalon Advanced Materials Inc. (TSX:AVL,OTCQX:AVLNF) (formerly Avalon Rare Metals Inc.) announced it will be a featured presenter at the 5th Annual Marcum MicroCap Conference at the Grand Hyatt in New York, June 1-2, 2016.

Don Bubar, President and CEO, will be discussing lithium and the exciting opportunity Avalon’s Separation Rapids Lithium Project offers to participate in the rapidly growing energy storage market. The presentation is scheduled for Wednesday, June 1 at 10:30 am. Mr. Bubar will also be available for one-on-one meetings with interested attendees throughout the conference. Once registered for the conference, you may request a meeting with Mr. Bubar through the meeting scheduling program provided by Marcum LLP.

For more information on the Marcum Conference, visit www.marcumllp.com/MicroCap/index.html.

Also in New York, Mr. Bubar will be presenting at the AFund May 2016 Mining & Healthcare Investment Symposium, hosted by the Astrologers Fund at the Princeton Club on May 31. If you would like to attend the symposium, you may register online here.

Connect with Avalon Advanced Materials Inc. (TSX:AVL,OTCQX:AVLNF) to receive an Investor Presentation.

 

The post Avalon to present at Marcum Microcap Conference in New York, June 1-2, 2016 appeared first on Investing News Network.

Western Uranium Corporation (CSNX:WUC) (OTCQX:WSTRF) announced that its common shares have commenced trading on the OTCQX Best Market under the symbol “WSTRF.” OTCQX, the most prestigious market operated by OTC Markets Group, offers U.S.-based investors convenient access to Western while ensuring the highest regulatory standards.

The commencement of trading on the OTCQX is a significant step forward for Western and is intended to provide easier access, greater transparency and increased liquidity for all investors including, in particular, U.S. investors. Current financial disclosure and real-time quotes for Western can be found on www.otcmarkets.com.

Western Uranium President and CEO, George Glasier, stated:

We are very pleased for the opportunity to trade on OTCQX and see this as an important step towards increasing shareholder liquidity and investor visibility for our Company”. “Western is experiencing an exciting transformation as it advances into production and we feel that the OTCQX market will improve the quality and availability of information to the investment community.

Connect with Western Uranium Corporation (CSNX:WUC) (OTCQX:WSTRF) to receive an Investor Presentation.

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The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up 0.4 percent this week to 685.38.

Overall, the index is up 30.53 percent for 2016. According to the Financial Post, this makes it “by far and away the best performing index among the 27 global exchanges with market caps in excess of US$1 billion.”

For the period May 21, 2015 to May 20, 2016, it’s down by 9.17, or 1.32 percent. Still, the year-to-date increase is hopeful.

A number of companies saw strong weekly percentage gains. The top five gainers for the week were:

• Critical Elements (TSXV:CRE)
• Northern Shield Resources (TSXV:NRN)
• CB Gold (TSXV:CBJ)
• AQM Copper (TSXV:AQM)
• Iconic Minerals (TSXV:ICM)

Here’s a closer look at those  companies:

Critical Elements

Shares of Critical Elements rose 73.13 percent last week to $0.24, and is up 213.51 percent for the year-to-date.  The company also announced mid-week a $5 million bought deal common share financing with Canaccord Genuity on a private placement basis at a price of $0.37.

Northern Shield Resources

Over the last five days, Northern Shield Resources saw a 54.55 percent increase to $0.06. Overall, the company has gained 1,033.33 percent year-to-date. Northern Shield is focused on exploring for platinum group element deposits and Noril’sk type nickel-copper deposits in Quebec. Earlier in May, the company released its latest announcement wherein 2,000,000 warrants issued as part of the private placement announced in April had been exercised at a price of $0.05 for a total of $100,000.

CB Gold

CB Gold was the subject of a takeover battle between fellow Colombia-focused gold miners Red Eagle Mining (TSXV:RD) and Batero Gold (TSXV:BAT) last year, with Red Eagle eventually taking a controlling stake in CB in late 2015.  Shares of CB Gold gained 50 percent last week to $0.15, and have increased 233.33 percent for the year.

AQM Copper

AQM Copper is currently exploring and developing copper deposits in Peru with a focus on the Zafranal property. There has been no company news since July 2015, however shares have gained 41.18 percent to $0.12 for the week, and have risen 200 percent so far this year.

Iconic Minerals

Finally, Iconic Minerals has jumped 700 percent over the year.  The company’s shares over the last five days have seen an increase of 39.13 percent to $0.32.  Iconic Mineral’s main focus is to discover and develop economical and multi-million ounce gold deposits and is located primarily in Nevada. Earlier in May, the company announced an negotiation equity financing of up to $3 million

Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Companies within the mining and precious metals sectors are considered.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure:  Critical Resources is a client of the Investing News Network. This article is not paid-for content. 

Top TSXV stocks in recent weeks:

5 Top TSXV Stocks: Cartier Resource Rises 55 Percent

5 Top TSXV Stocks: Sutter Gold Mining Rose by 127.27 percent

5 Top TSXV Stocks: Kootenay Silver Rises 64 Percent

5 Top TSXV Stocks: CB Gold Gains 83 Percent

5 Top TSXV Stocks: Encanto Gains 100 Percent on Offtake MOU

5 Top TSXV Stocks: NuLegacy Gold Rises on $6.67 Million OceanaGold Investment

5 Top TSXV Stocks: Rock Tech Lithium and Azimut Up Over 65 Percent

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The eighth annual Lithium Supply and Markets Conference is taking place this year from May 24 to 26 in Las Vegas, Nevada, and there’s plenty for attendees to look forward to.

Of course, Tesla Motors (NASDAQ:TSLA) is currently building its much anticipated lithium-ion battery gigafactory in Nevada, so Las Vegas was a fitting choice for the conference location.

The state is also host to the only producing lithium brine operation in the US, and the Clayton Valley in Nevada is becoming a hot spot for junior lithium companies.

Confirmed speakers at the event include a number of industry professionals and lithium experts, such as:

• Chris Berry, president of House Mountain Partners and co-editor of the Disruptive Discoveries Journal
• Robert Baylis, managing director of Roskill Information Services
• Jon Hykawy, president and director of Stormcrow Capital
• Daniela Desmoreaux, general manager of SignumBOX
• Joe Lowry of Global Lithium

Topics to be discussed include new lithium extraction technologies, the balance between brine and spodumene sources, and a look at what lies ahead for newcomers to the lithium space.

More information about the event can be found here.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.

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Gold prices were down this week as the US dollar regained strength. Prices were down 1.97 percent for the week to $1,251 per ounce.

According to the Wall Street Journal, results of the latest Federal Reserve policy meeting put pressure on gold, as the fed is now once again considering a rise in interest rates. Ira Epstein, a strategist with the Linn Group, told the publication that some investors are pulling back on previously bullish bets.

Silver prices also fell for the week, dropping 4.28 percent to trade at $16.48 per ounce. As with gold, silver was driven down by a stronger US dollar.

“Gold and silver prices have taken a big plunge on the back of falling bond prices and rallying U.S. dollar since the release of the FOMC’s last policy meeting minutes … and the accompanying hawkish commentary from several Fed officials,” Fawad Razaqzada, technical analyst for Forex.com and City Index told Reuters.

According to a recent report from FocusEconomics, the majority of analysts surveyed expect silver to end 2016 at a lower level, though some see the metal finishing the year as high as $19.50 per ounce.

On the base metals side of things, comex copper prices also fell for the week, losing 1.75 percent to reach $2.082 per pound.

According to MetalMiner, LME copper prices also fell to $4,600 per metric ton, marking a two month low for the red metal. Oversupply and lacklustre demand growth in China are still issues for copper.

Finally, spot oil prices finished the week fairly flat, up 0.13 percent to $47.95 per barrel. According to The Globe and Mail, global supply outages that were supporting the energy commodity last week have started to see some resolution.

“The overall market sentiment remains biased to the upside as a growing contingency of market participants are of the view that the market is already in a rebalancing pattern and the current round of unscheduled production cuts are starting to accelerate the process,” Dominick Chirichella, senior partner at the Energy Management Institute, told the Globe.

Global benchmark Brent crude oil prices were down two cents to $48.79 per barrel by 11:28 a.m. EST, while US crude was also down two cents at $48.14 per barrel.

Don’t forget to follow us @INN_Resource for real-time news updates.

 

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article. 

Related reading: 

Weekly Round-Up: Gold and Silver Keep Rising

Weekly Round-Up: Gold Rises on US Jobs Data

Weekly Round-Up: Gold, Silver, Copper Gain on Weaker US Dollar

Weekly Round-Up: Oil Prices Gain for Third Straight Week

Weekly Round-Up: Copper Rises on Record China Imports

Weekly Round-Up: Copper Posts Worst Weekly Loss Since January

Weekly Round-Up: Best Quarter for Gold in Decades

Weekly Round-Up: Gold Price Dampened by Fed Worries

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Dension Mines (TSX:DML) has announced that it has completed its previously announced private placement offering of commons hares issued on a flow-through basis pursuant to the Income Tax Act.

As quoted in the press release:

On closing of the Offering today, the Company issued 15,127,805 Flow-Through Shares, through a syndicate of underwriters co-led by Dundee Securities Ltd. and TD Securities Inc. and including Raymond James Ltd. and Cantor Fitzgerald Canada Corporation (together, the “Underwriters”), at a price of CAD$0.82 per Flow-Through Share, for aggregate gross proceeds to Denison of CAD$12,404,800. The proceeds include CAD$2,400,800 (from the issuance of 2,927,805 Flow-Through Shares) issued in connection with the exercise of the Underwriters’ option. The number of Flow-Through Shares issuable pursuant to the Underwriters’ option was increased from 2,440,000 shares to 2,927,805 shares to accommodate additional demand for the Offering. The Flow-Through Shares are subject to a four-month hold period which will expire on September 21, 2016.

The Company has agreed to use the gross proceeds of the Offering for “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) and anticipates using the gross proceeds for expenses related to the Company’s Canadian uranium mining exploration projects in Saskatchewan – including the Company’s flagship Wheeler River project, located in the infrastructure rich eastern portion of the Athabasca Basin. The Company has agreed to renounce such Canadian exploration expenses with an effective date of no later than December 31, 2016.

Click here to read the full press release.

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American Lithium (TSXV:LI) has entered a property agreement with TY &Sons Explorations (Nevada), an arms length party, whereby American Lithium may earn up to an 80 percent interest in 36 mining claims in Esmerelda County, Nevada.

As quoted in the press release:

In order to earn an eighty (80%) interest in Fish South, initially the Company must complete a cash payment of USD$150,000, issue 1,000,000 common shares and 300,000 share purchase warrants exercisable at a price of CAD$1.10 for a period of three years, as well as pay certain costs associated with maintaining the Property.  The Company must also issue 500,000 common shares on or before the first anniversary of the Option Agreement, and a further 500,000 common shares on or before the second anniversary of the Option Agreement.  Following completion of these payments and share issuances, the Company will hold an eighty (80%) interest in Fish South, subject to a two-and-one-half (2.5%) percent net smelter returns royalty in favour of the underlying property owner.

American Lithium CEO, Mike Kobler, said:

American Lithium continues to evaluate potential acquisition targets and conduct due diligence with a view to consolidating a dominant land position in Fish Lake Valley, Nevada, a known and well understood lithium brine basin.  The Fish South property is an important step in furthering American Lithium’s strategy of accumulating a large, high quality portfolio of strategically located lithium brine properties in a region we believe is one of the most promising and largely undeveloped lithium brine basins in the State of Nevada.  We look forward to commencing our initial work program during the second half of 2016, to advance our significant exploration assets.

Click here for the full press release.

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Liberty Star Uranium (OTCBB:LBSR) has discussed plans to begin Phase 1 drilling at its Hay Mountain Project.

James A. Briscoe, president and CEO, said:

The Company plans to bring in our contracted diamond core drill, Titan Drilling’s R-40, to the Hay Mountain Project and complete Phase 1 of the exploration drilling including analysis of the mineralization located on our mineral property. Until this drilling of up to 12 holes and perhaps more, we cannot confirm what is causing certain anomalies, which are classic indicators of known porphyry copper mineralization. By comparison to similar nearby porphyry copper systems which are currently being mined or have been mined in the past, which include Bisbee approximately 15 miles to the south, Rosemont — about 50 miles to the west, and the Mission-Pima ore body about 60 miles to west, Johnson Camp and the I-10 Porphyry (aka the Gunnison in-situ leach by Excelsior about 30 to 35 miles north and the Courtland-Gleeson skarn about 9 miles northeast all of which are sediment hosted skarn mineral bodies that are in the same rock types as those which underlie the Hay Mountain Super Project.

As quoted in the press release:

As part of the Phase 1 process, drill core will be immediately processed at the Company’s field camp site near the drilling area in the normal way, including washing, high resolution digital photography, saw splitting with diamond saws, bagging ½ the split core for assay and sequestering that split core in a secure trailer under lock and key, then shipping that core, under chain of custody to a Tucson-based certified assay lab for crushing, grinding to minus 80 mesh and splitting into an assay aliquots and then shipping those to the certified assay lab for multi-element assays.

Click here for the full press release.

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Sienna Resources (TSXV:SIE) announced that Sienna has acquired the “Clayton Valley Deep Basin Lithium Brine Project”.

As quoted in the press release:

This project is located directly between and bordering Pure Energy Minerals Limited (PE—TSX.v) and Lithium X Energy Corp (LIX—TSX.v). The “Clayton Valley Deep Basin Lithium Brine Project” is located in parts of the deepest sections (refer to the map) of the only lithium brine basin with a producing operation in North America (Albemarle’s (ALB-NYSE) Silver Peak Mine). Pure Energy Minerals, which owns the Clayton Valley South project, has recently released an inferred resource of 816,000 tons of lithium carbonate equivalent on the Clayton Valley South project. According to the Pure Energy Minerals Limited website, “Geophysics shows that the same brine-bearing formations encountered during drilling (Pure) appear to extend to much greater depths within the basin.” Recently Pure Energy Minerals Limited signed a supply agreement with Tesla Motors Inc (TSLA-Nasdaq) to potentially supply lithium hydroxide from its Clayton Valley Lithium Brine Deposit.

 

Sienna Resources President, Jason Gigliotti, stated:

We are pleased to be one of the few companies that have property within the only known lithium brine basin with production in North America. Saline brines are higher density than fresh or brackish water and therefore tend to sink. Based on this, management is optimistic regarding this project as we are located in the deeper sections of this basin. Sienna also currently has one of the smaller market caps of the public companies in the Clayton Valley. The lithium space has shown signs of explosive growth recently and shows little to no signs of slowing down. Lithium is one of the few sectors of the market that appeals to both the traditional resource investor and millennials, as Tesla has primarily created a global knowledge for lithium, therefore being a true crossover element. Management plans to commence operations on this new project shortly.

We forecast the lithium market to grow by 81% to 347kt lithium carbonate equivalent (LCE) by 2020, and by 259% to 687kt LCE by 2025, representing a CAGR of 14% across all demand sectors. We anticipate Li-ion battery-based electric vehicles (passenger vehicles & electric buses) to be a key driver of demand over the next decade, accounting for 38% of all lithium demand by 2025 (from ~6% in 2015). Similarly, we also anticipate significant demand for lithium from the grid storage sector, which we forecast will account for 13.6% of all demand by 2025.

Connect with Sienna Resources (TSXV:SIE) to receive an Investor Presentation.

 

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The National Energy Board (NEB) has given Kinder Morgan’s Trans Mountain pipeline approval, subject to 157 conditions.

The proposed pipeline runs from Edmonton to Burnaby, and will significantly increase the amount of bitumen transported to the Lower Mainland. Approximately 60 oil tankers flow through the Burrard Inlet, but the project will see it soar to over 400.

The announcement comes today (May 19), that expanding the pipeline is in the “Canadian public interest,” according to the NEB press release.

In an accompanying report, it states the project would “provide jobs and economic opportunities.”  It estimated a growth of 443 jobs per year, with 300 of them in B.C. alone, including construction jobs, new business growth and government revenues.

The 553 page report prepared by the NEB details the 157 conditions in order for the project to go ahead, some of which are:

• safety and integrity of the pipeline;

• emergency preparedness and response;

• protection of the environment;

•  ongoing consultation with those affected, including aboriginal communities;
• socio-economic matters;
• affirmation of commercial support for the project prior to construction; and
• financial responsibility.

The federal energy regulator made recommendations that the $6.8 million project increase the capacity of the existing Trans Mountain Pipeline System from 300,000 barrels a day to 890,000.

Almost 90 percent of the pipeline parallels existing disturbance, which the NEB claims will reduce the need for new disturbance and minimize potential impacts of construction.

The hearing for the project began more than two years ago when the board determined the project application was complete, and the hearing record closed on February 17 of this year when the Trans Mountain filed its final written reply argument.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.

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Waseco Resources (TSXV:WRI) has reported that it has negotiated a reduction of the annual advance royalty payable on the Battle Mountain Ridge gold property and settled the current lease payments.

As quoted in the press release:

The Annual Advance Royalty will be reduced from US $75,000 annually to US $50,000, starting in year three. The current Annual Advance Royalty and the outstanding lease obligations have been settled by way of a shares for debt issuance of 1.5 million common shares at Cdn $0.05 per share, plus 750,000 share purchase warrants, exercisable at $0.075 for 2 years from the date of regulatory approval. Next year’s Advance Royalty will be satisfies by the payment of US$ 10,000 at the time of the share for debt settlement and a further US$ 20,000 payment on March 17, 2017. The leaseholder has agreed to waive the next US $5,000 lease payment, which is due in August, 2016.

Richard Williams, president, said:

The Battle Mountain Ridge Property is a very prospective exploration play, both because of its location on the prolific Battle Mountain Trend and the results achieved to date on the property. Our last drill program was successful in intersecting high grade gold, and providing supporting information for our exploration model. A follow-up program has been prepared and hopefully market conditions have improved sufficiently to allow us to finance and complete this program. The reduction in the advance royalty payments should facilitate this task.

Click here for the full press release.

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Oakridge Global Energy Solutions (OTCMKTS:OGES) announced the appointment of important new members of the Company’s management team.

As quoted in the press release:

In recruiting the professionals who will take the company to the next level, emphasis was placed upon industry expertise. The new team will be led by Phil Meeks, who will assume the role of Chief Operating Officer/President in early June. Mr. Meeks will relocate from New York to bring a host of relevant
experience including expertise in manufacturing energy products, and has over 20 years’ experience in the battery and energy storage sector, including at Ultralife Inc., and Duracell USA. His battery industry experience is also truly international and spans the US, Japan, South Korea and China.

The depth of the team is unprecedented in nearly 30-year history of the organization (which will celebrate the 30th anniversary of its first incorporation on August 15th this year).

The new recruits include:

• Frank Malo, as Director of Battery Design, a chemical engineer with over 20 years’ experience in the battery industry, including at SAFT America, Exide Technologies, Electric Fuel Battery Corporation and AER Energy Resources;
• John Frailey, as Director – Systems Integration, a professional software engineer with over 17 years experience designing software, with particular expertise in designing battery management systems to optimize battery system design and performance, especially lithium ion battery systems, including those for local area electric vehicles and solar recharge power stations;
• Patrick Johnson, as Manufacturing Manager with nearly 20 years’ manufacturing plant management in the defense industry;
• David Phillips, as VP Finance and CFO, a CPA with over 20 years’ experience as a finance professional and CFO including in the manufacturing (automotive), defense, construction, and golf course and related hospitality sectors;
• Brendan Melling, as Director of Strategic Product Development & Marketing, with many years of experience in battery sales and marketing, and a crucial understanding of customer requirements in all sectors of the battery industry, and with a vast knowledge of battery designs and their applications, at both consumer and corporate/industrial levels;
• Spencer Jenkins, as Manager – Materials Procurement & Logistics, an engineer with international experience in the oil industry to head the procurement of materials; and
• TJ Marsilio, as Director – Legal Compliance & HR, joins the team as a seasoned lawyer with national experience with a government, regulatory and manufacturing background. Her service ranges from products liability defense for a manufacturer to workforce policy development for public-private partnerships. Marsilio most recently established various small business programs in the transportation industry. She will provide a deep level of support for various areas including occupational safety, government-related procurement, insurance, and risk management.

Oakridge Global Energy Solutions CEO, Steve Barber, stated:

Over the past thirty years, I have watched small companies become successful because of solid leadership teams, and as a key part of enabling the Company to achieve its goals and maximize the benefits of our recently announced Strategic Business Alliance with Sojitz Corporation, we have been on the lookout for new highly skilled
individuals to join our management team. These important new team members at Oakridge make the Company’s management team now one of the best collections of talent I have ever seen, and will really enable us to reach new heights.

The enthusiasm within the organization to now rapidly capitalize on the opportunities before us is now palpable because of these highly experienced new team members. This caliber of leadership is exciting and the entire team is ready to go from the factory floor to senior management, and builds on the solid foundation resulting from our recent 8-K announcement on May 12th of the appointment of our new independent Board members, Vic Psaltis, John Dinkel and Theo Lianos (and the forthcoming appointment to the Board of additional independent, Geoff Pollard). We are now very well positioned with these new team members to take full advantage of the growth opportunities for Oakridge presented by the third wave of growth in the global lithium ion battery space, and to present the right battery industry experience-base to the customer base, to our highly important Japanese strategic partners, and to the investment community in preparation for our anticipated uplifting of the Company from the OTCQB to NASDAQ.

Connect with Oakridge Global Energy Solutions (OTCMKTS:OGES) to receive an Investor Presentation.

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Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) announced as part of its asset review, has identified for consideration the vanadium potential of both its Velvet-Wood uranium property and its Henry Mountains uranium property. Both of these assets were acquired as part of the Uranium One transaction.

As quoted in the press release:

Velvet-Wood Project

The Velvet-Wood Project is one of the most advanced conventional uranium projects in the U.S.  Between 1979 and 1984, approximately 400,000 tons of ore were mined from the Velvet Deposit at grades of 0.46% U3O8 and 0.64% V2O5 (vanadium oxide), recovering approximately 4 million pounds of U3O8 and 5 million pounds of V2O5 (vanadium oxide),.

The remaining mineral resources of the combined Velvet and Wood mines have been estimated to comprise 4.6 million pounds of U3O8at a grade of  0.29% U3O8 (measured and indicated resource) and 552,000 pounds of U3O8 at a grade of 0.32% U3O8 (inferred resource). A vanadium resource has not yet been calculated. (Source:  Velvet-Wood Mine Uranium Project, San Juan County, Utah USA 43-101 Mineral Reserve and Resource Report, Author: BRS Inc.; Date: 11/14/2014).

Henry Mountains Project

Henry Mountains lies within twelve miles of the Shootaring Canyon mill. Based on historical production and resources hosted by the Salt Wash Member of the Jurassic Morrison Formation, US Energy identified geological targets within two areas of the Henry Mountains. Combined the potential of these two target areas is 5 million tons grading 0.3% U3O8 to 0.4% U3O8 containing 30 to 40 million pounds of U3O8 and 0.5% V2O5 (vanadium oxide), to 0.6% V2O5, containing 50 to 60 million pounds of V2O5 .  

US Energy stated that the potential quantity and grade of the exploration targets were conceptual in nature and there was no assurance the targets would be further defined by further exploration drilling. Further, Anfield Resources Inc. has been unable to verify the data and further states that the presence of uranium mineralization and geological targets on the US Energy property are not necessarily indicative of similar mineralization on the Anfield Resources Inc. Henry Mountains property.

Vanadium Market

The historical vanadium market focused on its ability to strengthen steel and other alloys, along with increased use in the aerospace and military markets.  However, with the greater awareness of the risks associated with climate change and GHGs, vanadium has become a significant player in the energy market. Vanadium has the ability to store mass energy via vanadium flow batteries (VFBs), which strengthens the renewable energy proposition of both wind and solar power. Moreover, lithium-vanadium phosphate batteries continue to bridge the perceived reliability gap between electric vehicles and their gas-driven counterparts. Industry spending on energy storage is expected to be approximately US$75 billion in 2016, reaching US$200 billion in 2020 alone.

Connect with Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) to receive an Investor Presentation.

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NexGen Energy (TSXV:NXE) has announced further results from its winter-spring drilling program on its Rook I Property.

As quoted in the press release:

Eight drill holes have intersected extensive mineralization, and offscale radioactivity (>10,000 to >61,000 cps) has been intersected in each of the A1, A2, A3 and A4 shears.

Within the A1 shear, the high grade mineralized interval from hole AR-16-84c1 (8.35 m of off-scale radioactivity with assays pending – see News Release dated April 14, 2016) has been confirmed and expanded with two further drill holes. This is highlighted by hole AR-16-84c3 which was drilled 33 m down-dip and southwest of -84c1 intersected 35.5m of total composite mineralization, including 2.6 m of total composite off-scale mineralization. This new area of high grade mineralization in the A1 shear is well outside and not part of the maiden Arrow deposit resource estimate that only includes drilling up to October 2015.

Drilling has also continued to confirm the robust nature of mineralization in the A2 shear where drill holes AR- 16-80c4, -81c3, and -86c1 all individually intersected more than 10 m of total composite off-scale mineralization. There is significant potential for expansion of the A2 high grade domain around each of these holes, and substantial massive to semi-massive uranium mineralization was intersected and remains wide open up dip and southwest from hole AR-16-86c1 in the higher grade A2 sub-zone (the “Sub-Zone”).

Hole AR-16-86c1 returned the largest total composite mineralization to date across the A1 to A3 shears. It was drilled at the currently defined southwest extent of the Sub-Zone intersecting 92.0 m of total composite mineralization in the A3 shear, and 246.0 m of total composite mineralization throughout the entire hole.

Garrett Ainsworth, vice-president, said:

These latest drill results of infill drilling continues to rapidly expand the size and scale of Arrow. Drill hole AR-16-86c1 has returned the highest total composite mineralization to date, which demonstrates the strength and width extent of the mineralizing system responsible for precipitating the Arrow deposit.

Click here to read the full press release.

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Azarga Uranium (TSX:AZZ) has entered into shares for debt settlement agreements totaling US$532,800 to settle interest on its US$1.8 million convertible loan agreement with certain shareholders.

As quoted in the press release:

The price of the share issuance will be calculated using the five-day volume weighted average price of the Company’s common shares (the “Shares”) for the five-day period immediately preceding the share issuance, subject to a floor of C$0.60 per Share. Assuming the Shares are issued at the floor price of C$0.60 per Share, the price of the share issuance represents a 67% premium to Azarga’s May 18, 2016 closing share price.

Blake Steel, president, said:

The continued support from the Company’s shareholders reaffirms the Company’s strategy of conserving financial resources while focusing on advancing the Dewey Burdock Project.” He further noted that, “The Company continues to work with the United States Environmental Protection Agency and Nuclear Regulatory Commission to advance the permitting process at Dewey Burdock.

Click here to read the full press release.

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Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) announced that it has acquired 160 placer claims, with an area of 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Township 13N., Range 43E, Nye County, Nevada.

As quoted in the press release:

The claims were located with the benefit of historical brine sampling results for lithium in the basin. Values were reported in the range of 130 to 155 ppm lithium for 4 samples (J.R. Davis, U.S. Geological Survey, Denver, Co.). The northern basin is fed by geothermal brines that are meteoric waters heated by relatively deep circulation in the earth’s crust. The dominant structural controls bounding the playa are high angle, large displacement “normal” faults which provide conduits for fluid migration and dictate resource localization.

Gravity survey results indicate an asymmetrical nature of the subsurface in the central and southern portions of the basin and that there is subsurface closure of the valley as it approaches Round Mountain to the south.  Gravity data also indicates the presence of subsurface structural features associated with three of the known high temperature geothermal systems in the area.  The depth of valley fill is calculated to be approximately 5,100 feet.

Nevada Energy Metals CEO, Rick Wilson, stated:

We are thrilled about adding a sixth lithium exploration project to our growing portfolio of properties.  The desert basins of Nevada are virtually unexplored by deep drilling for lithium brine deposits that are similar to Clayton Valley.  I am looking forward to an exciting exploration season this year and next.

Connect with Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) to receive an Investor Presentation.

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Eureka Resources (TSXV:EUK) announced the following update of recent developments on its Gemini Lithium Project. Gemini is located in the Lida Valley, Nevada, and consists of 247 placer claims totaling 4,940 acres. On January 20, 2016, Eureka entered into a letter agreement with Nevada Sunrise (TSXV:NEV) which gave it the right to acquire a 50% participating interest in Gemin.

As quoted in the press release:

On May 4, 2016, Eureka and Nevada Sunrise entered into an addendum to the Agreement in which they agreed that Eureka had completed its due diligence review on Gemini and that Nevada Sunrise had confirmed receipt of approximately CAD$97,000 from Eureka representing 50% of the acquisition and evaluation costs on Gemini as provided for in the Agreement. The companies also agreed that a definitive joint venture agreement would be entered into on or before September 30, 2016, or such other date as may be mutually agreed to by the companies. All approvals of the independent directors of each company have been obtained and the Agreement and its addendum have been filed with the TSXV. Upon acceptance by the TSXV, Eureka will issue 300,000 common shares to Nevada Sunrise and will become the beneficial owner of a 50% interest in Gemini.

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