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NexGen Energy (TSX:NXE) reported assay results for 8 holes from its most recent winter drill program at the Rook property. In addition to high-grade uranium intersections, the company also reported high grade gold and silver values in the A2 shear.

As quoted in the press release:

A2 Sub-Zone

Extensive and continuous high grade uranium mineralization in the higher grade A2 sub-zone (the “Sub-Zone) is confirmed with 2 assay results reported herein.

• AR-16-81c3 (127 m up-dip and southwest from AR-15-44b) intersected 23.0 m at 17.19% U3O8 including 9.5 m at 39.82% U3O8and 5.0 m at 49.27% U3O8.
• AR-16-86c1 (84 m up-dip and southwest from AR-15-44b) intersected 44.5 m at 8.85% U3O8 including 19.0 m at 20.40% U3O8and 5.0 m at 39.52% U3O8.

A2 Shear High Grade Domain

• AR-16-80c4 (110 m up-dip and southwest from AR-15-44b) intersected 25.0 m at 6.38% U3O8 including 10.0 m at 14.66% U3O8.
• AR-16-84c2 (33 m up-dip and northeast from AR-15-44b) intersected 39.0 m at 2.10% U3O8 including 18.5 m at 4.27% U3O8.
• AR-16-84c3 (34 m up-dip and northeast from AR-15-44b) intersected 31.0 m at 3.26% U3O8 including 18.0 m at 5.58% U3O8and 6.5 m at 10.89% U3O8.
• AR-16-85c1 (90 m up-dip and southwest from AR-15-44b) intersected 24.0 m at 4.40% U3O8 including 3.5 m at 29.15% U3O8.

Substantial mineralization was intersected completely outside the current boundary of the A2 high grade domain in six holes (Figure 1). There is significant potential for continued expansion and this will be a focus of the 35,000 m summer drilling program.

High Grade Gold

High grade assays intersected in the A2 shear also contain high grade gold and silver values, with individual 0.5 m samples ranging from below detection limits up to 90.4 g/t Au and 418 g/t Ag (Table 1). Hole AR-16-81c3 returned 9.5 m at 7.9 g/t Au and AR-16-86c1 returned 20.4 m at 1.9 g/t Au. Also of significant importance, geochemical analyses continue to show very low concentrations of deleterious elements (arsenic, antimony, selenium), which is a favourable characteristic for processing of uranium ores in the Athabasca Basin.

A three-dimensional view of the A2 High Grade Domain, a plan map, and the A2 long section are shown in Figures 1 to 3.

Click here for the full press release.

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July 19th, 2016, Vancouver, BC, Canada – Alix Resources Corp (TSXV:AIX) announces the Ontario Ministry of Northern Development and Mines (MNDM) has granted drill permits for the Company’s Jackpot Lithium property (“Jackpot Property”) located in the Georgia Lake area within the Thunder Bay Mining Division, Ontario. It is anticipated that drilling will commence shortly to confirm the historic drilling and the continuity and extent of the near surface No. 1 zone, with the ultimate goal directed towards defining a NI43-101-compliant resource estimate.

President and CEO Michael England commented, “Our exploration program is targeting ground with historical drilling and exploration; that coupled with our own exploration work on the property provides us with a clear direction for leveraging our drilling dollars to achieve maximum results from this program. It is the Company’s goal to begin proving up, and working to expand historic lithium resources at Jackpot.”

The Jackpot lithium deposits was described by E.G. Pye in a 1965 report published by the Ontario Depart. of Mines on the Georgia Lake Area. The deposits were tested by a total of 32 holes drilled in 1955 by Ontario Lithium Company Limited and its associated company Conwest Exploration Co. Ltd. The drilling confirmed the presence of at least two spodumene-bearing pegmatite bodies, one at the surface (No. 1) and the other (No. 2) lying directly beneath the No. 1 deposit. Historical resources at Jackpot, comprising only the No. 2 Dyke pegmatite zone, was reported as 2Mt @ 1.09 Li2O estimated in 1956 by Ontario Lithium Company Limited*. The No. 2 pegmatite dyke, which was discovered by diamond-drilling, was intersected at 30 to 100 meters intervals over a strike length of 215 meters and at 30-60 meters intervals over a distance of 365 meters across strike. Dyke No. 2 is 4 to 20 meters thick, averaging 11 meters.

*The estimates presented above are treated as historic information and have not been verified or relied upon for economic evaluation by the Company. These historical mineral resources do not refer to any category of sections 1.2 and 1.3 of the NI-43-101 Instrument such as mineral resources or mineral reserves as stated in the 2010 CIM Definition Standards on Mineral Resources and Mineral Reserves. The explanation lies in the inability by the Company to verify the data acquired by the various historical drilling campaigns. The Company has not done sufficient work yet to classify the historical estimates as current mineral resources or mineral reserves.

Connect with Alix Resources Corp (TSXV:AIX) to receive an Investor Presentation.

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General Mining Corporation Limited (ASX:GMM, “General Mining”, “GMM” or the “Company”), together with its partner on the Mt Cattlin Project (“Project”) Galaxy Resources Limited (ASX:GXY) is hereby pleased to announce the following update on the recommissioning process at Mt Cattlin.

Mt Cattlin last operated from 2011 to mid‐2012 under the stewardship of the previous Board and Management of Galaxy, with production statistics for the 6 months to 30 June 2012 including (see Galaxy 2012 Annual Report, p.11):

• Ore mined (tonnes) – 454,912
• Grade (Li20%) – 1.22%
• Waste mined (BCM) – 925,505
• Ore treated (tonnes) – 453,004
• Grade (Li20%) – 1.23%
• Spodumene produced (dry tonnes) – 54,047

On 12 October 2015, General Mining announced an independent review of its plan for the recommencement of production at Mt Cattlin based on the following parameters:

• Annual throughput (ore treated, tonnes) – 800,000
• Average annual LOM spodumene production (dry tonnes) – 111,000
• Peak spodumene yield – 75%

Following maiden commissioning of the fines circuit at the Project in March 2016, construction has continued and will now result in a significantly expanded processing capacity at Mt Cattlin:

• Annual throughput (ore treated, tonnes) – 1,600,000
• Average annual LOM spodumene production (dry tonnes) – 160,000‐240,000
• Peak spodumene recovery – 75%

This change has been driven by the substantial efficiency gains on offer to the Project owners in installing a larger circuit, as well as the opportunity for Mt Cattlin to meet significant market demand for spodumene concentrate at a time of constrained supply into the China based lithium refining markets. First shipment from the enlarged circuit remains scheduled for September 2016, no delays to deliveries have been incurred due to the upgrading of capacity at Mt Cattlin.

Forecast Production Summary:

	Previous GXY (est pa)	GMM Oct 2015	GMM Jul 2016
Throughput	909,824t	800,000t	1,600,000t
Spodumene @ 50% yield	108,054t	80,000t	160,000t
Spodumene @ 75% yield	N/A	120,000t	240,000t

Progress Update

Mining and maiden commissioning of the fines circuit at the Project occurred in March 2016. After reaching the initial desired commissioning and production milestones, the Project went back into a construction phase to complete the refurbishment and upgrade of the coarse circuit, and to implement final changes to the significantly improved fines circuit.

The new circuit will:

• Reduce mica content below 5% of total mass in the finished concentrate (previously approx. 20%)
• Increase throughput design to an annualised run rate of 1.6Mtpa (previously assumed by GMM to be 800,000tpa)
• Increase yield from a historic 50% to approximately 75% by recovering both fine spodumene and coarse tantalum, as well as significantly reducing mica content
• Reduce operational costs per tonne through a number of efficiency gains

Over the last three months, mining of the ore grade TSF material has been largely completed (50kt ore remains in situ) and is currently stockpiled ready for use as feedstock in the fines circuit. The ROM pad currently holds 100,000t of blasted ore ready for crushing and feeding into the coarse circuit.

Key milestones during July to September 2016 include:

• Crushing of ROM ore stocks to commence during July
• Upgraded fines circuit to achieve targeted 1.6Mtpa throughput rate in early August
• Commissioning of the coarse circuit due to commence mid‐August
• First shipment of spodumene concentrate confirmed for late September 2016

Post start up at a budgeted lithium yield of 50%, further optimisation will increase this to 75% by mid‐2017. Previously scheduled for the beginning of 2017, peak metallurgical recovery across the 1.6Mtpa throughput will now occur in two phases with the final optimisation stage (flotation) subject to performance of the plant post commissioning.

Connect with Galaxy Resources Limited (ASX:GXY) to receive an Investor Presentation.

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Orocobre (TSX:ORL,ASX:ORE) chairman James Callaway has resigned from the company to pursue other interests. He will be replaced by Robert Hubbard, a current non-executive director of the company.

Callaway said in a statement:

Orocobre is a strong operating company with a deep bench of managerial talent and a cohesive and engaged Board of Directors.

I have been deeply honoured to have had a meaningful role during the transformation of the Company, but believe that it is the right time for me to have more flexibility to pursue my other personal and business interests as I approach 60. This change will allow me to further expand my solar development company, DPP which also has interests in South America.

Callaway has been with the company since 2009, and has continued to advance Orocobre’s lithium project in Argentina’s Salar de Olaroz since then. The ramp-up of production at the Olaroz lithium facility saw some delays in recent years, but in April 2016, the company stated that it had hit its Q1 production target of 2,400 tonnes of lithium carbonate (2,332 tonnes).

Hubbard, appointed as chairman in Callaway’s stead, has served as chair of the company’s audit committee. Previously, he was a partner at PricewaterhouseCoopers for over 20 years.

Shares of Orocobre dipped 16 cents this morning to $4.74 per share on the TSX, but are up 95.87 percent year-to-date.

Read the full press release 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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Peninsula Energy (ASX:PEN) is pleased to provide the following progress update on key corporate activities.

• NYSE MKT Listing
• Revenue Streaming Facility
• Karoo Projects Strategic Partner NYSE MKT Listing

As previously announced, Peninsula is seeking a secondary listing of American Depositary Shares (ADS) on the NYSE MKT.

Since the last update Peninsula has continued the review process with the United States Securities and Exchange Commission (“SEC”), including the submission of a revised registration statement on Form-20-F in response to SEC queries and recent updates provided by the Company. The Company now believes it has cleared the key outstanding items received to date. A Form 20-F, once declared effective by the SEC, registers a class of securities of a foreign issuer and is a requirement for trading on a U.S. stock exchange.

Peninsula is currently well advanced in discussions with a US banking group to support the Company’s planned ADS program upon the completion of the NYSE MKT listing. Subject to the Form 20-F being declared effective by the SEC and final clearance from the NYSE MKT to list, Peninsula is aiming to complete the NYSE MKT listing process in the second half of 2016.

Revenue Streaming Facility

As previously advised, Peninsula continues to work on a funding package for the Company’s Stage 2 expansion and has been progressing negotiations on a revenue streaming facility as the primary component of this package.

Revenue streaming is a non-dilutive mechanism that sees a proportion of future sales revenue being exchanged for a one-off upfront cash payment that is to be used for development or expansion capital expenditure. The proportion of future sales revenue only applies for a finite time period and finite quantity of annual production.

Technical and commercial due diligence has now been completed by the funding party, and Peninsula and this party are working together to finalise a binding agreement in the near term.

This funding package would allow for the commencement of Stage 2 development at the Lance Projects. Stage 2 of the Lance Projects comprises installing the elution, precipitation, drying and packaging processes circuits in the central processing plant (CPP) and a doubling of the ion exchange capacity. Bringing all processing in-house is expected to reduce cash operating costs by US$4-5/lb U3O8. Ramp-up to Stage 2 production rates are expected to further reduce cash operating costs by US$5-6 per pound U3O8. At steady state Stage 2 production revenues are forecast to double and cash margins are forecast to expand substantially.

Karoo Projects Strategic

Partner While the primary focus of the Company has been on the Lance Projects ramp up, in parallel the Company has been negotiating with a number of parties to secure a strategic investment partner to accelerate the Karoo Projects in South Africa through completion of feasibility studies. It is envisaged that the majority of this funding would be provided at the project level minimising dilution to existing shareholders.

At this stage legal and technical due diligence has been completed on the Karoo Projects by two groups, one of whom has put a proposal to the Company and another is expected to lodge a proposal shortly. The Company is also continuing negotiations with a third party who previously submitted a term sheet, which is subject to ongoing finalisation of investment structure and due diligence.

Managing Director and CEO Mr. John Simpson stated “Whilst the Company has been firmly focused on the commissioning and ramp up at Lance the corporate team and RSA management have been progressing alternative methods to advance the Karoo to be a second production centre for the Company. These efforts are bearing fruit and should be finalised by the end of the year”.

Connect with Peninsula Energy (ASX:PEN) to receive an Investor Presentation.

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PALM BAY, FL–(Marketwired – Jul 19, 2016) – Oakridge Global Energy Solutions (OTCMKTS:OGES), a leading US-based manufacturer of Lithium-ion smart energy cells for military, civilian and medical applications, has today announced it will be featured in a three-part, 90-minute television mini-series on Fox Business Network, first airing at 1:30pm EDT on July 31, 2016.

The biographical business exposé delves into how Oakridge Global Energy Solutions’ Executive Chairman & Chief Executive Officer, Steve Barber, and his team started as a research & development company in search of some of the world’s best energy cell technologies centered around the fast growing lithium-ion energy storage space. Today, after investing over $40 million, through Mr. Barber’s private family office fund, Precept Fund Management SPC, and 2+ years of time and energy in developing industry-leading products, the Company is poised to reap the rewards.

The series will be hosted by award-winning television host Ken Evseroff of New To The Street, filmed on location at Oakridge’s 70,000-square-foot manufacturing plant that Mr. Barber and his team converted into a state-of-the-art facility in Palm Bay, Florida. The series details how Mr. Barber’s vision is becoming reality, as OGES transitions from research and development, to the design and manufacture of its second generation commercial lithium ion “smart” energy cells for civilian, military and medical applications, including power for golf cars and local area electric vehicles, starter motor batteries for motorcycles, ATVs, jet skis and boats, living space power backup systems and uninterruptable power supplies, power for drones and UAVs/UUVs and several high growth custom niche markets such as medical and defense, with sales revenue expected to grow exponentially over the next several years.

For viewers unable to watch live, the replay of Power Up America show will be available from July 31, 2016 on the Company’s website: oakridgeglobalenergy.com.

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

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July 19, 2016 Vancouver, British Columbia- Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) is pleased to announce that, subsequent to the company’s news release of June 17^th, 2016, American Lithium Corp. has received TSX-V approval to acquire all of the outstanding shares of 1074654 B.C. Ltd which holds the right to acquire up to a 70 % interest in and to the Clayton Valley BFF-1 project “the Property” located in Nevada.

American Lithium Corp. now assumes the obligations in respect to the previously announced option agreement, which in addition to a non-refundable deposit of USD$25,000 (paid) is USD$2750,000 and 1,200,000 million common shares of American Lithium Corp. in three tranches on or before the second anniversary of closing, and $1-million in exploration expenditures on or before the third anniversary.

Following the exercise of the Option, the American Lithium Corp shall have a seventy (70%) interest in and to the Property, with Nevada Energy Metals retaining the balance.  Thereafter, the parties will work diligently and in good faith to negotiate the terms of a joint venture to advance development of “the Property. The joint venture will provide that expenditures on the Property will be funded on a pro rata basis, based upon the respective parties proportionate interest in the Property. In the event that any one party declines to fund the expenditures in proportion to their interest, their respective interest in the joint venture shall be reduced accordingly, provided that no party shall be diluted below a fifteen (15%) interest in the Property.

Rick Wilson, Chief Executive Officer of Nevada Energy Metals, commented:“We are delighted to have American Lithium Corp as our partner with which to advance the Clayton Valley property.  The BFF-1 Project covers an area similar to the structural and geologic settings at Albemarle’s Silver Peak lithium-brine operation and lies only two hundred meters to the north west side of their property.  We look forward to an exciting exploration program being carried out in the months ahead.”

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

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CEO interviews are part of investor education campaigns for clients advertising on the Investing News Network. Important news is contextualized by CEOs, and the resulting interviews are disseminated to the Investing News Network audience because they have value to market watchers.

The Investing News Network interviews a CEO for an understanding of their perspective on the company, the investment potential of the company and market news related to the company. The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities.

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Plateau Uranium (TSXV:PLU,FWB:QG1) has a consolidated portfolio of uranium resources covering 95 percent of the Macusani Plateau of Puno in southern Peru. Its robust economics demonstrates, for uranium alone, an average cash production cost of US$17.28 per pound U3O8 over the life of the mine, with an NPV of US$603M, an IRR of 40.6% and 1.8 years capital payback (post-tax) using a conservative US$50/lb uranium selling price.The projected production will average over 6 Mlbs annually for at least 10 years.

Plateau Uranium recently announced a maiden lithium and potassium resource estimate of 52.3Mt at 0.13% containing 67,000t Li₂O with 2.34 Mt K₂O at 4.47% (Indicated), and 87.7Mt at 0.12% containing 109,000t Li₂O with 3.93 Mt K₂O at 4.49% (Inferred) within its existing uranium resource base. This lithium resource estimate is from only 4 out of 14 uranium deposits. According to the resource estimate report, “Across all four deposits, lithium mineralization occurs in a 40m to 60m thick zone, which is interpreted to be a discreet lithological unit within the acidic volcanic rocks of the Macusani Plateau. It has been identified that this is the same unit that hosts the previously reported uranium mineralization.”

Investing News Network spoke to Plateau Uranium Chairman Ian Stalker about this potential added value that lithium and potassium bring to the uranium-focused company.

Investing News Network: Can you tell us more about the lithium and potassium found within Plateau Uranium’s project in Peru?

Ian Stalker: Let me begin by saying the Plateau Uranium story is based on a uranium project in Peru that has given all the right indications to be an extremely profitable business in the uranium environment. We know, based on the work we’ve done today, that the uranium company or the uranium product can be economic even at levels that we are seeing today in the uranium spot price. At $30 a pound, we still make a decent profit. At the long-term selling price, which is still $45 plus, we make an even bigger profit. So we are extremely positive in the uranium story and the way forward to unlock the value. But what we looked at, and what has come out, has been an extremely opportunistic additive to this uranium story. There is the fact that within the uranium optimized pits or even when we start mining the uranium we found, there is a significant amount of lithium and potassium present.

To the extent that at the end of March, beginning of April, only a couple of months back, we put out a 43-101 resource report that highlighted how much lithium in the metal form was contained within only four of these eleven deposits that would be mined for uranium. That’s not to say, by the way, that outside of the pits there isn’t lithium, because we know there is. Since we are planning to mine the uranium, we looked at that opportunity of adding to the uranium story.

So let me just move forward from that concept that with the uranium, we would also mine lithium and potassium. What we then said to ourselves was: look, thisby-product concept has real opportunity to add significant value. The capital associated with building the mine, all the CAPEX numbers that are in the PEA we have released for the uranium actually are part and parcel of the money that needs to be spent for the lithium.

The uranium project, which as I said in the beginning, is economic even at $30 a pound. That pays for the open pit operation, pre-strip, mining costs, and delivery from the open pit to the process plant. The first part of the process plant is a crusher, so it pays for all of that, meaning lithium is getting a holiday right up until it arrives at the process plant. Even at the process plant, the primary and secondary crushing is also covered by the cost of the uranium product that we make.

The lithium and potassium by-product opportunity will only have to pay for that part of the capital and operating costs for the additional lithium-potassium processing plant within the existing uranium process infrastructure. That takes it away from the main uranium tailings. We think what we will do is extract the uranium first and then we are left with what would be regarded as a tailings or residue stream. And again, just for interest, normally we would put that residue stream to tailings dam, so that the tailings dam is also paid for by the uranium—the lithium doesn’t have to carry that. We then take that stream, with ninety-five to ninety-seven percent of the uranium removed, and we then look at how to extract the lithium. It is here that our next phase of work will be focused.

We know we’ve got lithium present, we know we’ve got potassium present, and the independent geological 43-101 engineer who wrote this indicated that, even with conservative levels of lithium pricing. I think we used $8,000 per tonne of lithium carbonate, and there are indications in the market today that is upwards of double that today. We used $500 per tonne of SOP, sodium sulphate of potash, and again, those indications, even in today’s market, is six, seven hundred dollars per ton being used—we still found that with pretty conservative approach to estimating the operating costs and recoveries, that there was a significant upside in the economic value of the project and of Plateau Uranium.

I have to be quite honest with you—a lot of that is not yet fully tested. All that has been done by ourselves and by an independent engineer is to confirm that once you’ve taken the uranium out of the slurry, you are able to bring the potassium and the lithium into solution. We’ve had recoveries of about 70% plus or minus, going into solution—nothing else has been done. So be well aware and be cognizant of the fact that going forward, what we have to do is the metallurgical process test work that will allow us to better understand how much the by-products will cost to produce, how easy it is to achieve the level of recoveries, the acid consumption and the yields, et cetera, and basically from that, develop the process engineering that will allow us to extract the lithium and potassium as by-products – and establish capital and operating costs.

The inherent value of those two by-product metals in the waste stream, is such that we have an extremely large opportunity. Certainly, the preliminary work that we have done suggests that it is very positive and extremely interesting.

We have recently announced funding to make sure Plateau Uranium is on a good financial ground. Despite the tough market it has been for uranium, part of that funding will be allocated to this work associated with the lithium and potassium by-product, to understand the opportunity more fully. We are very excited to have that opportunity and the ability to move it forward over the next few months.

INN: In theory, would processing be done at the same facility?

IS: Yes, that would be part and parcel of the overall process plant. Remember again, that we are mining for uranium, but lucky enough to have lithium and potassium present. We extract the uranium from that ore, which still leaves the lithium and the potassium present, and we then add to that the necessary process plant steps to extract the lithium and potassium into solution. And then the steps necessary to produce a lithium carbonate or hydroxide produict, , as well as an SOP sulphate of potash product. That would be part of the overall plant, and of course, I mentioned about what is paid for by the uranium. At the same time, the people that are there are paid for by the uranium—there would be very little extra staff. The electricity that you have to bring in, in order to power the crushers and the mill, will be paid for by the uranium project as well.

The administration block for people doing business and the IT that you install and all the other bells and whistles that work together from an administration point of view, paid for by the uranium. Even the canteen is paid for by the uranium, so the amount of money that has to be covered by lithium and the potassium is relatively small.

INN: Once you work on that metallurgy or get to understand what those by-products are worth to the overall Plateau Uranium economic model, then you would know how much icing you have on your cake?

IS: Maybe more icing than cake at the moment. Uranium is still a tough market and I’d love to see it flourish again, but we’re still very much in the doldrums—the wind hasn’t started to blow but when it does, we are, I think, one of the best placed uranium projects to move. These by-products just add further value so right now maybe the icing is thicker than the cake.

INN: What are the catalysts of milestones that you foresee after the metallurgy work is done?

IS: Getting the metallurgical work done gives us the engineering detail that we can put into our economic model. That will tell us exactly the kind of increase that may be expected on the capital that we have currently given. Right now, we’ve got a capital cost estimate, plus or minus, of $250 million for a tank leach option for the uranium. We’ve got a production cost per pound for uranium of $17.28, which is a low cost production level, so we will understand just how much more capital is needed for the lithium and potassium—for the production of the two products. We will understand the cost per tonne of lithium carbonate produced, the cost per tonne of SOP produced as a consequence, and that influences the overall model. Hopefully, the metallurgical tests can be done before the end of this year, and we can be putting that financial model together by the end of the year.

At the same time, of course, we will still be looking at how to enhance the uranium project, as there is a lot more to come there.

INN: Are there any deposits out there comparable to the Macusani Plateau?

IS: No, we are very fortunate in that regard—competition does not exist, and it is a huge potential for us. We have only explored less than 10% of the entire region under our control. So how much more will we find? It is a great opportunity and there are deposits of lithium in the neighboring countries, whether it’s in the brine solution or whatever, it is there—lithium is present in those parts of America.

One thing that caught my attention a few days ago is that we’ve been very lucky that we call ourselves Plateau Uranium. It’s a new name that we called ourselves last year when we rebranded, and of course our trading symbol is PLU. I’d love to tell you that it was all planned and that the P stands for Potassium, the L for Lithium and the U for Uranium, but I didn’t. But we now use the opportunity of PLU for our own benefit.

INN: In closing, are there any events in the uranium space in the last quarter that we should be aware of?

IS: The uranium market has remained more or less as it has been since the start of the year. The predictions, of course, are still there. They still exist and there is a shortfall coming in terms of uranium production versus uranium demand. Companies have closed uranium mines and deferred, delayed and cancelled new projects. We know that the growth in reactors continues at a substantial pace. New build in China, in particular has been seeing almost one new reactor connecting to the grid every month driven primarily by their need for GHG-free clean air base load electricity production.

Also in the past year, India too, has now signed nuclear cooperation agreements with several countries for the ability import uranium into the country and to build new nuclear reactors in the country. Until recently, India had a difficult position because of its history with Pakistani-Indian relationships and the potential for nuclear proliferation in that region. As a consequence that has now been sort of resolved, and India can now move forward with their civilian nuclear reactor program.

There is no doubt that nuclear energy growth is here with more coming, and if the growth is there, you need to have adequate uranium supply. The issue is really only one of timing.

INN: Excellent. Thank you for your time today.

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Critical Elements (TSXV:CRE,OTCQX:CRECF,FWB:F12) and Ionic Power Corp. have entered into an option agreement that gives Ionic the right to acquire up to a 75-per-cent interest in the Valiquette and Amiral projects, located southwest to the Nemaska Lithium Whabouchi deposit.

“The Valiquette and Amiral projects represent a great opportunity for Ionic, Critical Elements and the shareholders of both entities.”

“This option agreement with Ionic will allow the Valiquette and Amiral properties to be explored in detail for a Lithium Pegmatite discovery. Critical Elements is currently focused on the development of its Rose lithium-tantalum project. With Ionic farming into the Valiquette and Amiral projects, shareholders of both companies will be able to benefit from successful exploration of a highly prospective project,” stated Jean-Sebastien Lavallee, President and CEO, Critical Elements.

The Valiquette Property is composed of one block totaling 104 claims covering an area of 5,563.07 ha. It is measuring about 13 kilometers in a SW-NE direction and is contiguous South West to the Duval main block. The property can be accessed by a Hydro-Quebec gravel road up to the Lac des Montagnes, and then by boat. An old winter road along the SE shore of Lac des Montagnes can be used for works. The Valiquette project offers strong lithium potential in a well-established area. The lithium pegmatites tend to occur in swarms in the volcano-sedimentary units.

The Amiral property is composed of one block of 8 claims covering an area of 424 ha. The project is located 80 km NE of Nemiscau airport and can only be accessed by helicopter.

The Valiquette and Amiral properties cover a large part of the regional volcano-sedimentary unit, a favourable unit that hosts Nemaska Lithium’s Wabouchi deposit and the Lemarre showing. Located in the northeastern part of the Superior geological province, and more specifically in the northeastern part of the Lac des Montagnes Formation, the Lac des Montagnes volcano-sedimentary belt is a sequence of aluminous metasediments and amphibolites containing basalts and ultramafic sills.

Terms of the transaction

Under the Agreement, Ionic will earn its interest in Valiquette and Amiral by way of a farm-in arrangement. The key terms of the Agreement are detailed below:

Grant of first option

Critical Elements hereby grants to Ionic the exclusive right and option to acquire, on or before July 31, 2018 an initial 50% Earned Interest in the Properties (the “First Option”) by issuing to Critical $180,000 of the common shares, by paying $37,500 cash and by incurring or funding Exploration Expenditures for a total amount of $1,000,000 on the Property, as follows:

paying to Critical $25,000 cash within a delay of five (5) working days following the execution of this Agreement (non-refundable);

paying to Critical $12,500 cash within a delay of five (5) working days following completion of a Going-Public Event;

by not later than November 30, 2016 or any other later date agreed to by Critical, causing the Resulting Issuer to Critical Resulting Issuer shares having a value equal to $180,000, at an issue price per share equal to the issue price per share for the financing to be completed by the Resulting Issued concurrently with the going public event, failing which such amount shall be payable in cash or, at the sole discretion of Critical, in common shares of Ionic at a price per share acceptable to Critical acting reasonably;

incurring or funding Exploration Expenditures aggregating not less than $1,000,000 on the Property, of which an amount of $500,000 must be incurred or funded before July 31, 2017 and an amount of $500,000 before July 31, 2018.

Connect with Critical Elements (TSXV:CRE,OTCQX:CRECF,FWB:F12) to receive an Investor Presentation.

The post Critical Elements and Ionic to Explore Valiquette and Amiral Lithium Properties in Quebec appeared first on Investing News Network.

VANCOUVER, BC–(Marketwired – July 18, 2016) – Forum Uranium Corp. (TSXV:FDC)  (“Forum”) is pleased to announce that it has commenced a shallow, four-hole drill program for approximately 600 metres on its 100% owned Karpinka project, located approximately 30 km southwest of Cameco’s Key Lake uranium mine and mill site (Figure 1).

The Karpinka claims lie just outside the southern edge of the Athabasca Basin where high grade, basement hosted deposits such as Fission Uranium Corp.’s Triple R deposit can be found at shallow depths. Infrastructure in the Karpinka area is excellent with targets located adjacent to the all-weather road and powerline to the Key Lake uranium process facility.

The drill targets are based on data from existing ground gravity, ground electromagnetic (EM), magnetic and soil gas hydrocarbon surveys conducted by Forum over the last five years. An airborne EM survey (TEMPEST) flown in 2007 identified a sequence of strongly conductive horizons over a 10 kilometre trend associated with the Key Lake Road Shear Zone, a major structure that marks the boundary of the fertile and productive Wollaston domain and the Mudjatik domain to the west.

Positive gravity survey results from these earlier programs identified a number of gravity lows, which may be indicative of zones of alteration, clay development and uranium mineralization along very strong EM conductors on the property. The combination of gravity low anomalies in conjunction with EM anomalies has proven to be a very successful exploration technique on Forum’s Northwest Athabasca Joint Venture and in the discovery of the Arrow deposit by NexGen Energy Ltd.

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

The post Forum Uranium Commences Drill Program at Its 100% Owned Karpinka Property Near the Key Lake Mine, Athabasca Basin, Saskatchewan appeared first on Investing News Network.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) saw a boost increase last week, rising by 14.20 points to 766.36.

Overall, the index is up 45.79 percent for 2016, a spike of 240.70 points total. According to Stockwatch, the TSXV volume was up to 170,942,037, allegedly its biggest since April 2011.

Over a one-year period, the TSXV is up 45.79 percent, or 240.70 points.

A number of companies on the TSXV, including those in the precious metals sector, saw strong weekly percentage gains.

The top five gainers for the week were:

• Jayden Resources (TSXV:JDN)
• Redstar Gold (TSXV:RGC)
• Ascot Resources (TSXV:AOT)
• Rock Tech Lithium (TSXV:RCK)
• Aurvista Gold Corp (TSXV:AVA)

Here’s a closer look at those companies:

Jayden Resources

First up is Jayden Resources, an exploration company with an advanced-stage gold-silver-nickel resource on its Silver Coin property in British Columbia.

Last week, shares of Jayden Resource rose 110 percent to $0.21. The company did not release any additional news regarding its increase.

Redstar Gold

Next is Redstar Gold, whose shares increased 90 percent to $0.095. Currently, the company is exploring its high-grade 100 percent owned Unga Gold project, initially acquired in 2011.

On July 11, Redstar Gold announced that it had completed the exploration program at its Unga Gold project. The focus of the surface field program at the project was to delineate additional drill targets to expand known mineralization and complete a surface sampling and mapping program along the Shumagin Trend.

Ascot Resources

Over last week’s five-day period, Ascot’s shares rose 52 percent, a $0.65 increase, to $1.90. Year-to-date, the company has seen gains of 65.22 percent overall. The company is opening up a gold system at the Premier Mine in British Columbia,

Last week, Ascot announced that it had closed the non-brokered private placement of 435,000 units at a price of $1.15 per unit for gross total proceeds of $500,250.00.

Rock Tech Lithium

Next on the list is Rock Tech Lithium, who is focused on its Georgia Lake lithium project in Ontario.  On July 5, the company announced that it had closed a private placement consisting of 3,940,000 units at a price of $0.30 each, for gross proceeds of $1,182,00.

Over a five-day period, shares of Rock Tech rose 47.83 percent to $0.68. Its year-to-date increase, however, is much more significant, as the company has made gains of 1,260 percent overall.

Aurvista Gold

Last but not least on last week’s TSXV list is Aurvista Gold. The company’s only asset is the Douay gold project, consisting of 221 wholly owned claims, totaling approximatley 11,430 hectares.

On June 21, Aurvista announced that it had initiated its summer exploration program at the Douay project, following the closing of $1.1 million financing. The news release states the company is planning a two-staged exploration campaign on the project for the period June-September 2016.

For the week, the company’s shares gained 45.45 percent, to finish at $0.32. The company is up 814.29 percent year-to-date.

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

Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

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

Top TSXV stocks in recent weeks:

5 Top TSXV Stocks: Renaissance Oil Leaps by 71.43 Percent

5 Top TSXV Stocks: Renaissance Oil Surges 133.33 Percent

5 Top TSXV Stocks: Armor Minerals Rises 127.27 percent

5 Top TSXV Stocks: Nicola Mining Rises 65 percent

5 Top TSXV Stocks: Rugby Mining Tops the List Rising 100 percent

5 Top TSXV Stocks: Alset Energy Jumps 176.92 percent

5 Top TSXV Stocks: Cartier Resource Rises 55 Percent

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

The post 5 Top TSXV Stocks: Jayden Resources Leads the Way appeared first on Investing News Network.

Gold prices started the week high at $1,368, but gradually dipped back down throughout the week in the lead up to the Bank of England‘s rate decision. Overall, gold was down 2.86 percent to $1,330.03 per ounce as of 12:25 p.m. EST.

Yet, prices for the yellow metal are still impressive in the wake of Britain’s vote to leave the European Union back on June 23.  Although the gold price has fallen back down since then, the metal is worth at least a quarter more an ounce than it was at the end of 2015.

With the Bank of England’s surprising decision on Thursday not to raise the rates, analysts remain bullish for the yellow metal.

Market Watch reported that Christopher LaFemin and other analysts on Jefferies metals-and-mining research team predict gold could hit $1,400 an ounce this year, which is up from a previous prediction of $1,200 an ounce.

“We expect demand for gold as an uncorrelated asset in a diversified portfolio to remain at high levels for the foreseeable future,” LaFemina told the publication.

On the silver price side of things, the white metal dropped 2.33 percent to trade at $20.87 per ounce as of 12:34 p.m. EST on Friday. That being said, silver has outperformed gold, rising more than 9 percent following Brexit. 

According to Market Watch, analyst Chintan Karnani at Insignia Consultants said that, “silver is highly vulnerable to big short-term crash,” adding that silver will need to trade above $20.90 or else fatigue will come in to play.

Still, Karnani said to Market Watch that they are advising silver traders to remain invested in silver, but not to invest any further at current prices.

“Silver will continue to outperform gold,” he said in the publication.

Comex copper prices rose sharply, reaching its highest level since early May fueled by strong import data from China and a softer dollar.

As of 1:20 p.m. EST on July 15, the copper price rose 3.17 percent to $2.22 per pound.  On the London Metal Exchange, the metal briefly hit $5,000 per tonne on Wednesday before dropping back down to $4,938.

Despite a dim fundamental outlook for the copper price, new mine supply is on the way.

Reuters reported strong import data to top consumer China and investors expecting Beijing to bring the economy to new heights as additional reasons for the price surging. That being said, the first six months of 2016 were strong due to China’s boost in imports.

“Overall, the June import data point to solid Chinese commodity demand,” analysts at Capital Economics said in a note to clients, as written by Nasdaq.

Lastly, spot oil prices rose 2.78 percent for the week to reach $45.49 per barrel as of 1:40 p.m. EST on Friday. As per the Wall Street Journal, oil prices rose on Friday as Chinese economic data surged expectations for oil demand.

The Journal also reports that oil demand has been strong this year due to overall low prices globally.

However, some analysts predict the price will dip back down $40 a barrel as consumption falters.

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. 

Related reading: 

Weekly Round-Up: Gold Price Hits 2-Year High

Weekly Round-Up: Gold Boom

Weekly Round-Up: Gold Price Briefly Tops $1,300

Weekly Round-Up: Gold Boom

Weekly Round-Up: Gold Price Leaps on US Jobs Data

Weekly Round-Up: Gold Prices Dip on Increased Rate Hike Speculation

Weekly Round-Up: Gold Price Falls on Dollar Strength

Weekly Round-Up: Gold and Silver Keep Rising

Weekly Round-Up: Gold Rises on US Jobs Data

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July 15, 2016 – Vancouver, British Columbia- Nevada Energy Metals (TSXV:BFF) (OTCQB:SSLMF) (Frankfurt: A2AFBV) is pleased to announce that it has agreed to an Option Agreement where Wildcat Exploration Ltd. can acquire a 100% interest, subject to a 3% Net Smelter Royalty, in 348 mineral claims located in Dixie Valley, Churchill County, Nevada.  The Option Agreement is “non-arms’ length” and so constitutes a related party transaction, as the Company’s President and CEO, Rick Wilson, is also a director of Wildcat Exploration Ltd., and is subject to TSX Venture Exchange (the “Exchange“) approval.

The DVA 1 to 348 placer claims, having an area of approximately 2,817 hectares/6,960 acres, covers a significant portion of the Humboldt Salt Marsh playa.  Of the seven characteristics favorable for the formation of a Lithium brine deposit, as outlined in the USGS deposit model, all seven are found in Dixie Valley. The Lithium deposit model for Dixie Valley is a Clayton Valley style brine deposit.

Pursuant to the terms of the option agreement, Wildcat Exploration Ltd has 36 months within which to exercise the option as follows:

• USD $20,000 non-refundable deposit on signing;
• USD$ 180,000 payable and 2,000,000 common shares issuable upon Exchange approval;
• 2,000,000 common shares issuable on the first anniversary date;
• 2,000,000 common shares issuable on the second anniversary date
• USD$ 1,250,000 in eligible on or before the third anniversary date of the Option Agreement.

In certain instances and subject to Exchange approval, the Company may pay finder’s fees to eligible persons (“Finders“) in regards to the Option Agreement with Wildcat Exploration Ltd., consisting of cash and or common shares.

Dixie Valley Overview
Dixie Valley is located in west central Nevada, about 160 km east northeast of Reno.  The entire basin is about 98 km long and up to 16 km wide.  Humboldt Salt Marsh occupies the central part of the playa and is about 10 km north-south and 6 km east-west.
Dixie Valley is home to a large and long-lived geothermal system that is still active.  The Caithness Dixie Valley geothermal power plant is producing about 64 megawatts of electricity making it the largest geothermal power plant in Nevada.  The active geothermal system extends about 30 km roughly north – south along the entire west side of the valley.  The heat source appears to be simple very deep circulation into the crust and is not related to igneous activity.
Very little exploration work has been directed at Lithium in this area.  Geothermal water in the basin contains up to 4.89 ppm Lithium and stream sediment samples from the adjacent Stillwater range show values to 80 ppm Lithium. Geologically, recent volcanic ash from the Long Valley Caldera (Bishop Tuff) and Mono craters are expected to be found within catchment area of the basin and within the basin fill sediments.  One major productive horizon in the Clayton Valley brine field is thought to be Bishop Tuff deposited and preserved in the basin (Zampirro, 2004).

Dixie Valley is a closed fault-bounded basin having the lowest elevation point (1031 m, 3383 ft.) in the Northern Great Basin as measured on the Humboldt Salt Marsh playa.  Given the valley has been a closed basin for at least 500,000 years and probably much, much longer, plenty of time has elapsed for evaporative concentration of Lithium bearing geothermal and surface water.  The valley appears to be about 2,000 meters deep, primarily filled with poorly sorted coarse conglomerate, gravel, sand and silt with volcanic rocks, and tuff beds, and finer sediments in the lower third of the section (Blackwell et al, 2014).

The conceptual deposit model is as the basin went through multiple wet and dry periods, Lithium dissolved by deep circulating geothermal fluids or leached from local rock units by surface and near surface water, seeped into the basin where it was concentrated by evaporation.  Heavier brines sink into the deeper levels of the basin or flow downward along tilted permeable beds, potentially forming subsurface pools of Lithium rich fluids.  The process can be likened to an inverted oil field, with the target material being descending fluids caught in gravity traps instead of ascending fluids caught in the tops of structures. This model is somewhat akin to placer gold deposits wherein large areas of very low grade sources are concentrated into economic grades.
The Humboldt Salt Marsh project was acquired for staking cost without royalties and a 200,000 share payment to the locator.

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

The post Nevada Energy Metals Options-out Second Lithium Project in Nevada appeared first on Investing News Network.

Cypress Development Corp. (TSXV:CYP) ‘Primer’ is for the benefit of all investors, particularly those interested in the burgeoning Lithium market in light of all the press regarding Tesla’s automotive and ‘Powerwall’ products. There is a myriad of other major electronics manufacturers positioning for the growth as well as Electric Vehicles (EV) and hybrid electric vehicles (HEV) ex Tesla.

As quoted in the report:

Eight Lithium Investment Drivers.

• Not a power source. Critical to battery power storage agnostic as to the source; solar, wind, water etc.
• Lithium is abundant in hard rock, brine and clay deposits. Ironically, there are very few accessible economically viable deposits.
• Demand will outstrip supply for decades
• Traditional global fossil fuel buying battery assets
• Lithium production dominated by 3 global companies. 2016 production already sold out.
• As carmakers increase demand for batteries there’s going to need to be lots of gigafactories. Just to supply auto demand you need 200 gigafactories. (Elon Musk 2014)
• Lithium component years ahead of any competing metal.
• the annual lithium market will grow 259% by 2025, representing a compound annual growth rate of 14% across all demand sectors. Lithium-ion battery-based electric vehicles will be a key driver of this demand.

Why would I want to own Cypress Development?

Cypress’ plans focus on the extraction of Lithium from mineral rich and softer claystones, using the profoundly less toxic chemical cocktail known as the Weak Aqua Regia method. The importance of the process cannot be understated as it has proven in many dozens of samples to extract 95% or more of the amounts extracted by the more significantly toxic cocktail. Both of those facts alone should impress investor as to the unique, cost-effective and environmentally friendly initiatives. As the Company moves toward delineating a resource and potentially develop a significant open-pit operation, the plans and facts are adding up to a property with an extremely compelling investment and risk profile.

At the moment, most risk averse investors are focused on the large players; Albemarle, SQM and FMC. Valuations vary greatly and the underlying but overarching interest by several sources, including Musk, is that juniors are quickly becoming interesting.

As you are currently on Cypress’ site, note that YTD 2016 its share price has tripled to C$0.15.

Connect with Cypress Development Corp. (TSXV:CYP) to receive an Investor Presentation.

The post Cypress Development Lithium Primer: The Critical 7% Solution appeared first on Investing News Network.

Sienna Resources Inc (TSXV:SIE) (A1XCQ0-FSE) (HBNRF-OTCBB) President Jason Gigliotti will be presenting at the Okanagan Capital Conference this weekend.  The Conference will afford Sienna the opportunity to present the Company’s story to hand-picked institutional clients, fund managers and high level investment advisors.

Sienna Resources President, Jason Gigliotti, stated:

I am looking forward to having many one on one meetings with the quality of audience that this show will provide.  It is one of the best ways to properly convey the Sienna story to a wide array of significant market participants within our space.

Connect with Sienna Resources Inc (TSXV:SIE) (A1XCQ0-FSE) (HBNRF-OTCBB) to receive an Investor Presentation.

The post Sienna Resources to Present at the Capital Events Conference regarding the “Clayton Valley Deep Basin Lithium Brine Project” in Nevada appeared first on Investing News Network.

In a recent interview with Investing News Voltaic Minerals Corp (TSXV:VLT) discussed how they have begun the first phase of its 2016 work program on the Green Energy Lithium Property in the Paradox Basin in Utah.

Watch the full interview:

 

The post Voltaic Minerals: Launching a Lithium Brine Project in Utah appeared first on Investing News Network.

Noram Ventures (TSXV:NRM) has announced the completion of Phase II surface and sub-surface sampling on its South Block Extension, which includes the Hades, Zeus and Sparta lithium brine/clay claim groups.

As quoted in the press release:

As part of the Phase II program total of 81 surface and sub-surface samples were taken on the claims. Bradley Peek, MSc and Certified Professional Geologist of Harrison Land Services, supervised the sampling program and expedited the samples daily to ALS in Reno, Nevada, for MS-ICP analysis. Phase II assay results are expected to be received over the next 7 days.

The Hades, Zeus and Spartan claim groups form part of the South Block Extension recently acquired by staking through Noram’s wholly owned subsidiary, Green Energy Resources. The South Block consists of 738 claims in three contiguous claim groups (Zeus, Hades and Spartan) and covers approximately 14,738 acres. For additional information, see news releases of May 26, 2016, June 7, 2016 and June 9, 2016.

Click here to read the full press release.

The post Noram Ventures Completes Phase II Sampling on the South Block Portion of its Lithum Brine/Clay Project appeared first on Investing News Network.

Ur-Energy (TSX:URE) has announced its operational results for the second quarter 2016.

As quoted in the press release:

For the quarter, 133,341 pounds of U₃O₈ were captured within the Lost Creek plant. 130,308 pounds U₃O₈ were packaged in drums and 148,714 pounds U₃O₈ of drummed inventory were shipped out of the Lost Creek processing plant. At June 30, 2016, inventory at the conversion facility was approximately 135,723 pounds U₃O_8.  During the quarter, sales totaled $6.7 million with two contract sales totaling 137,000 pounds at an average price of $39.35 per pound, and one spot sale of 50,000 pounds at a price of $27.00 per pound.

Production rates at Lost Creek during the quarter were near projected levels as we continued to operate header houses 1 through 12 throughout the quarter and began to see initial production from header house 13 late in the quarter. As scheduled, the thirteenth and final originally-planned header house in Mine Unit 1 (MU1) was brought online late in May. The header house, and its related patterns of production wells, includes certain refinements in design and well completion techniques in an effort to increase injectivity for even greater well performance. Although many analyses are ongoing, results of HH 13’s first month of operation are thus far validating these refinements. Permitting of the Class V water treatment systems continues with the goal to enhance waste water capacities. We expect permitting to be completed in the third quarter. In addition, routine plant and wellfield maintenance continued as scheduled. While lower than the previous quarter, plant head grades from MU1 header houses continue to be significantly higher than originally projected. The decrease is related to normal projected declines as well as the addition of new production fluid from HH 13. Grades from HH 13 have subsequently risen to 88 mg/l.

Click here to read the full press release.

The post Ur-Energy Provides 2016 Q2 Operational Results appeared first on Investing News Network.

Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) announced that Dr. Fernando Muñoz Carmona has joined Dajin’s Technical Advisory Board and has been retained to assist Dajin in moving its activities forward in Argentina with a focus on the Salinas Grandes salar.

As quoted in the press release:

Dr. Muñoz, Colombian by birth, studied geology and seismology in Colombia and the USA while working for the Colombian Ministry of Energy and Mines at the Colombian Geological Survey (INGEOMINAS) Colombia.  In 1995 he attended Arizona State University in Tempe, Arizona, USA where he completed a PhD in Human Communications.  This degree led him to shift his focus from technical aspects of geology to community engagement and the articulation of social, governmental and company aspirations in the field of resource development.  Since completing his PhD he has worked in all the Andean countries helping communities, companies and governments understand resource development and natural hazard mitigation.  He joins Dajin as a Consultant and a member of the Technical Advisory Board.

Fernando’s dual training and experience in geosciences and human communication has shaped his understanding of the relationship between humans and their geological surroundings. This knowledge has assisted him when bringing together and implementing projects for effective Earth’s resource management, risk reduction and positive social transformation.

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

The post Dajin Appoints Dr. Munoz Carmona to Advisory Board appeared first on Investing News Network.

NexGen Energy (TSXV:NXE) has announced further results from its recently completed spring drilling program on its 100 percent owned Rook I Property in the Athabasca Basin.

As quoted in the press release:

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

The new high grade zone within the A1 shear was initially discovered with drill hole AR-16-84c1 (8.35 m of off-scale radioactivity with assays pending – see News Release dated April 14, 2016), and has been significantly expanded towards the northeast with drill holes AR-16-91c3 and -91c4. Holes -91c3 and -91c4 were drilled 30 m up-dip and northeast and 25 m down-dip and northeast, respectively from hole -84c1. The A1 shear currently has a mineralized strike length of 360 m and remains largely untested.

Substantial high grade mineralization also continues to be encountered in the A2 shear. Drill holes AR-16- 84c4, -91c1, -91c3, -91c4 and -92c1 each intersected massive to semi-massive pitchblende mineralization and significant off-scale radioactivity with intervals at greater-than-61,000 cps.

Assay results remain pending for 30 holes, including intensely mineralized holes from the A2 Sub-Zone and the newly discovered area 180 m southwest of Arrow. Furthermore, six drill rigs are now fully operational at Rook I, with a seventh rig expected to start in mid-July.

Click here to read the full press release.

 

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Nemaska Lithium Inc. (TSX:NMX,OTCQX:NMKEF) announces that it has begun a $1.5M budget definition drilling campaign for the Whabouchi project in the Eeyou Istchee James Bay region. The main goals of this program are to convert the existing in-pit inferred resource into measured and indicated, to add near surface resources in the east zone of the pit design as well as confirm continuity of further resources at depth below the 200 m level.

As quoted in the press release:

The drilling program, involving an anticipated 44 drill holes spread over 13,700 m, is expected to be completed in September 2016. The feasibility study titled: NI 43-101 Technical Report Feasibility Study Update on the Whabouchi Lithium Deposit and Hydromet Plant (Revised), covers mineral resources totalling 27.9 Mt with an average grade of 1.57% Li₂O in the measured and indicated categories and 4.69 Mt with an average grade of 1.51% Li₂O of inferred resources in an optimized pit with a 0.43% Li₂O cut-off grade. The three main objectives of the drilling campaign are:

1. The potential conversion of 4.69 Mt of inferred resources, inside pit design, to indicated resources, representing a potential upgrade between 15 and 25% of resources that could be converted to reserves (that is, measured and indicated resources). This phase involves 5,900 m covering 22 drill holes.

2. The second objective is to increase the level of confidence of mineral resources between 0 m and 200 m vertical from the surface. This phase would potentially make it possible to fill the East section of the longitudinal zone, which does not include any resources at the moment. A total of 17 drill holes over a 5,100 m surface area are expected to be drilled in order to meet this objective. This phase is expected to result in a potential increase block model volume between 20 and 35%.

3. Finally, the drilling program aims to confirm the continuity of the longitudinal zone of mineral resources down to 500 m vertical depth, below surface. Five drill holes for a total of 2,700 m are expected to be drilled in order to meet this objective. This could potentially allow an increase between 30 and 45% in the longitudinal zone covered by the mineral resource model.

Nemaska Lithium President and CEO, Guy Bourassa, stated:

Assuming we achieve our goals, this drill program will enable us to increase our open pit mine life, reduce the stripping ratio and lower the production cost of concentrate. In addition to having a clearer idea of the full potential of the lithium resource at Whabouchi, this drilling program enables management as well as shareholders to fully value our project.

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

The post Nemaska Lithium Begins a Targeted Definition Drilling Campaign on the Whabouchi Project appeared first on Investing News Network.

It seems like the uranium price is going to get worse before it gets better: as of July 4, it’s sitting at $26.50 per pound. Overall, uranium is the cheapest it’s been since May 2005, and it may be some time for the market to fully recover from the Fukushima disaster of 2011. 

Despite low uranium prices, panelists in FocusEconomics‘ June 2016 report expect prices to gradually increase due to high nuclear demand from China, India and Russia.

Prices are projected to go up to $36 per pound in the fourth quarter of 2016, and even averaging $41 per pound in the fourth quarter of 2017.

While it could be awhile before uranium prices pick up, all hope isn’t lost in the industry. Here’s a a quick look at:

• global uranium production
• what is being said about investing in the uranium space, and
• shares that are on the rise

Uranium production forecast

First of all, physically owning uranium, like other commodities like gold and silver, isn’t possible. With that in mind, the demand for uranium continues to grow: as of January 1, 2016, there were 439 nuclear reactors operable in 30 countries, as reported by the World Nuclear Association (WNA)

While uranium prices continue to be on a lower end, one thing for certain is that nuclear energy isn’t going anywhere. In fact, worldwide production of uranium picked up in 2015, increasing by over 4,000 tonnes from the previous year to 60,514 tonnes. The WNA projects world uranium demand to be about 65,220 tonnes in 2016.

On top of that, it’s expected that India and China will make up almost 70 percent of global energy demand, as reported by The Street. Currently, China has 33 nuclear power reactors in operation, with 21 under construction and more on the way.  Five years from now, China’s goal is to producer at least three times the amount of nuclear power that it does now.

And then there’s India: the country aims to produce 26 percent of electricity from nuclear power by 2050, as reported by the WNA.  India currently has 21 existing nuclear reactors with six more on the way, and has 60 more planned.

On July 7, the Economic Times reported that India is ready to ramp up its nuclear energy sector. The Times reported that Union Minister Piyush Goyal said that the country is close to setting a technology framework and “is very close to getting into the nuclear suppliers group.”

Investing in uranium

As the Investing News Network (INN) has reported before, the market is on the cusp of a renaissance.  Although uranium prices will take time to gradually rise, investors can still buy while the market is down.  Some say that low prices mean it’s a good time to get into the sector before it takes off.

Rick Rule, founder of Global Resource Investments, recently said in a video interview published on Mining.com said that the last bull market in uranium stocks generated a lot of wealth.

Although the last time the uranium market had an impressive run was 12 years ago, Rule said the experience that people enjoyed last time will cause them to be “extremely aggressive” participants this time.

“Everything that needs to be in place is in place for a truly incredible bull market,” he said in the interview.

Uranium stocks rising

While uranium prices have been low, a number of uranium mining companies’ shares have been successful:

• CanAlaska Uranium (TSX:CVV): year-to-date, the company’s shares have increased 1,027.27 percent overall to $1.24. Over a one-year period, the company’s shares have risen 726.67 percent overall;
• NexGen Energy (TSX:NXE): over one year, NexGen Energy’s shares have increased 213.58 percent. Year-to-date, the company’s shares have continued rising, 252.78 percent, to $2.54; and
• Anfield Resources (TSXV:ARY): Anfield Resources has steadily increased year-to-date, rising 121.05 percent to $0.21.

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

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

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Nemaska Lithium Inc. (TSX:NMX,OTCQX:NMKEF) announced the hiring of Mr. François Godin as Vice President Operations. Mr. Godin will be responsible for all operations, both at the Whabouchi mine and at the Shawinigan plant. He will report directly to Mr. Guy Bourassa, President and CEO of Nemaska Lithium. Mr. Godin will officially join Nemaska Lithium and assume his role and responsibilities on August 9, 2016. His office will be located at the Corporation’s Shawinigan Hydromet plant.

As quoted in the press release:

Prior to joining Nemaska Lithium, Mr. Godin worked 28 years in progressively senior operations and process optimization roles for the Iron & Titanium division of the multinational mining company Rio Tinto. During the final years of his tenure there, he built a mining organization, started and operated a billion dollar mining project from scratch in Madagascar, employing 640 people with an annual operating budget of $150M. His expertise spans the life of a mining project from start up, to operations, to chemical and mining process optimization. In addition, he brings experience in chemical processing from minerals using innovative new technologies. Mr. Godin holds a bachelor’s degree in metallurgical engineering from Ecole Polytechnique of Montreal.

Nemaska Lithium President and CEO, Guy Bourassa, stated:

I am delighted to add François to our senior management team. He is an experienced and well-rounded professional that brings best practices expertise as well as start-up experience. This is a unique combination of skill sets that perfectly suits our current stage of development. He has built projects from the ground up and run them efficiently to consistently deliver results. I am excited to work with him as we move into the next phase of our Company’s development. We have built a strong technical team that has led the technology development and now with the addition of François we are significantly de-risking our project execution and operation.

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

 

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Pilbara Minerals Limited (ASX:PLS) announced a 60 per cent increase in the Mineral Resource at its flagship 100%-owned Pilgangoora Lithium-Tantalum Project in WA’s Pilbara region, paving the way for the completion of a Definitive Feasibility Study next month. The new resource estimate confirms Pilgangoora’s status as the world’s leading lithium development project, with the grade, scale and quality to underpin a low-cost, long-life operation with outstanding technical and financial attributes.

As quoted in the press release:

HIGHLIGHTS:

• Further substantial increase in the JORC 2012 Mineral Resource for the 100%-owned Pilgangoora Tantalum-Lithium Project in WA, including significant upgrade in the resource classification:
  • A 60% increase in the total Measured, Indicated and Inferred Resource to 6Mt grading 1.22% Li2O (spodumene) and 138ppm Ta2O5 and 0.63% Fe2O3, containing 1.57Mt of lithium oxide and 39 million pounds of Ta2O5;
  • A 134% increase in the total Measured and Indicated Resource, available for conversion to Ore Reserves, to 6Mt grading 1.27% Li2O (spodumene), 135ppm Ta2O5 and 0.58% Fe2O3, containing 1.06Mt of lithium oxide and 24.9 million pounds of Ta2O5;
  • Within the total Mineral Resource of 128.6Mt, and at a cut-off of 1% Li2O, the Inferred and Indicated Lithium Resource amounts to 91Mt @ 1.43% Li2O, containing 1.3Mt of lithium
• The resource upgrade reinforces Pilgangoora’s status as the world’s leading lithium development project, with the global resource containing a total of 89Mt of Lithium Carbonate Equivalent (LCE) – the benchmark equivalent raw material used in the lithium industry.

• The new resource will underpin the new Ore Reserve for Pilgangoora which, in turn, will underpin the Definitive Feasibility Study (DFS), which is now well advanced and on track for completion next
• The upgraded resource includes the results of the recently completed Phase 2 drilling program (28,400m), which brings the total amount of drilling completed by Pilbara since acquiring the Pilgangoora Project to 72,000m of Reverse Circulation drilling and 5,650m of diamond drilling. All current proposed resource drilling has now been completed, with sterilisation drilling continuing for infrastructure.

Pilbara Minerals Managing Director and CEO, Ken Brinsden, stated:

Coming hard on the heels of our first binding off-take agreement, this puts us firmly on track to achieve our timeline of delivering the DFS next month and commencing project construction by year-end. Pilgangoora has all the attributes required to become a low-cost, long-life producer at a time when the industry is undergoing transformational growth.

Connect with Pilbara Minerals Limited (ASX:PLS) to receive an Investor Presentation.

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Peninsula Energy (ASX:PEN) announced an update on production and ramp-up at the Lance Projects in Wyoming, USA.

As quoted in the press release:

Highlights

• 29,000 pounds of U3O8 produced from Lance Projects during June quarter
• 7,000 pounds of U3O8 already produced from Lance wellfields in first 10 days of July
• Header houses 1 and 2 producing uranium at 105% of steady state target rates
• 55,000 lbs U3O8 delivered during June quarter at average price of US$62.80/lb

June Quarter

During the quarter ended 30 June 2016, 28,858 lbs U3O8 were extracted from the Lance Projects, an increase of almost 20,000 lbs U3O8 over the quarter ended 31 March 2016. A 7-day plant outage adversely impacted June production by approximately 3,000 lbs U3O8. Production for the June quarter was primarily from header houses 1 and 2. Whilst header houses 3 and 4 were successfully commissioned during the June quarter, meaningful quantities of uranium from both header houses commenced during July.

Average flowrates from extraction wells at header houses 1 and 2 are in excess of 20gpm (as per forecasts) and combined uranium head grade from these two header houses now exceed the life of mine average head grade of 38 mg/L. As a result, these two header houses are now producing uranium at 105% of steady state target rates.

A further 55,000 lbs of U3O8 were delivered during the June quarter under the Company’s existing long term uranium concentrate sale and purchase agreements at an average realised price of US$62.80 per pound. Uranium for these deliveries was purchased on-market.

Production Ramp-up

The rate of production continues to accelerate in early July with approximately 7,000 lbs U3O8 extracted from wellfields between 1 July and 10 July. The current rate of ramp up at the Lance Projects supports the targeted Stage 1 production level of 600,000 to 700,000 lbs per annum in the first half of 2017.

Peninsula Energy Managing Director/CEO, Gus Simpson, stated:

The last 5 weeks have seen the rate of uranium production increase dramatically and augurs well for the Lance Projects to meet the expectations of the Company going forward.

Connect with Peninsula Energy (ASX:PEN) to receive an Investor Presentation.

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Macarthur Minerals (TSXV:MMS) announced that it has agreed to enter into a farm-in with a Canadian lithium Company for part of the Company’s Australian lithium acreage at Ravensthorpe, covering an area of 91 square kilometres, for minimum expenditure of A$2 million.

Macarthur Minerals President, CEO and Director, David Taplin, stated:

Macarthur Minerals is excited about the farm-in by a Canadian lithium company into part of its Australian lithium acreage. It allows Macarthur to accelerate its lithium exploration activities over its large lithium acreage package, which is one of the largest for any junior listed company.

Connect with Macarthur Minerals (TSXV:MMS) to receive an Investor Presentation.

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