With lithium demand expected to explode about eight times over by 2040, finding new lithium deposits has become top priority. Unfortunately, according to Morningstar.com, “Rising electric vehicle adoption and the increasing buildout of energy storage systems will keep lithium demand growing to surpass 1 million metric tons in 2024, from 800,000 in 2022, eventually hitting 2.5 million metric tons by 2030.” That’s all substantial news for companies, such as European Energy Metals Corp. (TSXV: FIN) (OTC: EUEMF), Albemarle (NYSE: ALB), Lithium Americas (NYSE: LAC) (TSX: LAC), American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI), and Piedmont Lithium (NASDAQ: PLL).
In addition, according to Li-Bridge, global demand for lithium batteries is expected to jump five-fold by 2030, as noted by Reuters, which added, “Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade.”
Look at European Energy Metals Corp. (TSXV: FIN) (OTC: EUEMF), For Example
European Energy Metals Corp.report the results of its inaugural Phase 1 exploration program for LCT (lithium-cesium-tantalum) spodumene-bearing pegmatites on its Central Finland Lithium Project which spans over 250,000 hectares (ha). Overall, the best results were obtained on the Nabba Reservation where several clusters of spodumene-bearing pegmatite boulders and boulder fields were identified during the program. Several prospective areas were also identified (i.e. Kyrola, Kaitnabba, Pisto and Kaatiala) with anomalous to locally anomalous-grade lithium. A total of 1,099 rock chip (grab) samples were collected with the results discussed in manomalous detail below.
“The inaugural exploration program was met with considerable success, having identified multiple areas with lithium mineralization” commented Jeremy Poirier, CEO of European Energy Metals. “The identification of pervasive lithium mineralization, despite the presence of significant overburden or cover, is highly encouraging and warrants further exploration. This also supports our recent application for an Exploration License over the Nabba Reservation which allows for drill testing in Q2-2024.”
Kyrola
The most significant discovery during the Phase 1 program was the discovery of a 350 m long by 110 m wide Northwest-Southeast trending spodumene-bearing pegmatite boulder field on the Nabba Reservation. The extent of the boulder field is constrained only by low-lying overburden covered areas and farm fields. A total of forty-nine (49) rock chip grab samples were collected from the field and individual samples assayed from 0.003% to 3.84% Li2O . The mean assay of these samples was 0.53% Li2O . Fifteen samples assayed greater than 0.50% Li2O , eleven assayed greater than 1.00% Li2O , 4 assayed greater than 2.00% Li2O and 1 assayed greater than 3.00% Li2O . The boulders are generally angular and range in size from small hand size cobbles up to > 1.5 m in diameter. The boulders are also weakly anomalous in Cesium (Cs), Tantalum (Ta), Beryllium (Ta) and Tin (Sn).
Theboulders are mineralogically comprised of albite-spodumene-quartz-muscovitepegmatite with lesser accessory minerals such as tourmaline, garnet andberyl. They are typically massive toweakly zoned. They appear to bemineralogically similar to the known Keliber deposits in the region, and assuch may be part of the same mineralizing event.
Based on the known glacial history of the area and glacial dispersion of pegmatite boulders at the nearby Keliber deposits (Ahtola et al, 2015), it is interpreted that the source of the boulders is likely to be to the northwest of the boulder field, and possibly within 300-500 m. Further studies will be required to confirm and define targets for drilling.
Kaitnabba
Another cluster of spodumene bearing pegmatite boulders were discovered approximately 9 km southwest of the Kyrola prospect, and also occurring on the Nabba Reservation. Two boulders assayed 1.57% and 1.01% Li2O respectively. The boulders range in size from 0.2 to 0.4 m diameter and are also mineralogically similar to the Keliber deposits. They are also anomalous in Cs, Ta, Be and Sn.
Pisto
Located on the company’s Lappajarvi East Reservation this prospect consists of an outcropping megacrystic two-mica granite and qtz-feldspar-muscovite-tourmaline pegmatite swarm. Rock chip sampling over an area of several km identified anomalous Li in the 100’s of ppm, up to 250 ppm Li. Many of the samples are also anomalous in Arsenic (As). The presence of As associated with Li is also noted at Keliber’s Kellokallio Prospect approximately 11 km East-Northeast of Pisto where spodumene-bearing pegmatite dyke(s) associated with wide zones of highly anomalous As (eg. 10-40 m assaying 1000 to 4500 ppm As). The best reported Lithium intercept was 0.97% Li2O over 3.15 m. In this context the possibility of using As as a pathfinder element for Li in the area will be considered. Gold occurrences in the region are also often associated with As.
Overmark
Quartz-felspar-muscovite-tourmaline pegmatites within a 200 m wide by 1400 m long E-W trending swarm. Individual pegmatites up up to 5 m across. Several samples assayed between 50 to 177 ppm Li.
Viirineva
Quartz-felspar-muscovite-tourmaline pegmatites within a 3.65 km long NW-SE trend. Individual pegamatites up to 6 m across. Several samples assayed anomalous Cesium (Cs) up to 124 ppm Cs.
Kaatiala
Located 100 km south of Nabba, the 3,200 ha property is host to a 40 m wide quartz-feldspar-muscovite-tourmaline (+/- spodumene) pegmatite body that was mined from 1942 to 1968 for quartz and feldspar. Rock chip sampling of the waste piles around the old mine revealed the presence of Li. The highest Li values obtained were 0.09%, 0.20% and 0.25% Li2O.
Discussion
The Company’s projects are in the Kaustinen-Seinajoki region which is highly prospective for LCT pegmatite deposits, as evidenced by the success of the Geological Survey of Finland (GTK) and subsequently Keliber Oy in discovering significant Li-bearing spodumene pegmatite prospects and deposits in the region. The initial success in identifying lithium-rich pegmatitic boulders from the Phase 1 program is very encouraging, as the area is topographically flat and extensively covered by a thin veneer of glacial overburden.
On the basis of these results the Company has recently submitted applications for Exploration Licenses (“EL’s”) covering an area of 4,550 hectares within it’s 11,690 hectare Nabba Reservation, including the area around the Kyrola Prospect. The Nabba EL (2,812 ha) and Nabba 2 EL (1,738 ha) are located on the northern half of the Company’s Nabba Reservation and adjacent to the Keliber lithium projects of Sibanye-Stillwater (NYSE: SBSW). Under an Exploration License or EL, the Company will be permitted to undertake manomalous advanced exploration such as detailed base-of-till (BoT) sampling, trenching and diamond drilling.
The Nabba ELs lie less than 8 km west of Keliber’s Spodumene Concentrator Plant and several previously known Li-spodumene pegmatite prospects/deposits occur within 1 km of the Nabba licences, including the Emmes Deposit which hosts NNW-SSE trending Li-bearing, spodumene pegmatites, and a resource of 1.08 Mt grading 1.22% Li2O (source: GTK). It appears the Nabba area may be well-endowed.
Other related developments from around the markets include:
Albemarle Corporation signed agreements with Caterpillar Inc. to collaborate on solutions to support the full circular battery value chain and sustainable mining operations. The collaboration aims to support Albemarle's efforts to establish Kings Mountain, N.C. as the first-ever zero-emissions lithium mine site in North America. These efforts include utilization of next-generation, battery-powered mining equipment. Caterpillar and Albemarle signed an agreement making Albemarle's North American-produced lithium available for use in Caterpillar battery production. The two companies will also explore opportunities to collaborate on research and development of battery cell technology and recycling techniques.
Lithium Americas, now Lithium Americas (Argentina) Corp. and a new Lithium Americas Corp. jointly announced the completion of the reorganization of Lithium Americas into two independent publicly traded companies, implemented by way of statutory plan of arrangement. “We look forward to seeing these two market-leading companies thrive independently,” said Jonathan Evans, President and CEO of Lithium Americas (NewCo) and former President and CEO of Lithium Americas. “The Separation offers investors two unique and highly focused pure-play lithium companies with world-class assets in our respective regions of operation.”
American Lithium Corp. announced a new lithium discovery from the initial drill hole completed at one of the key discovery targets previously identified from 2021 field work conducted near the Community of Quelcaya. Further holes have been drilled near this discovery with identical geology to the discovery hole and full assays expected shortly. The Quelcaya exploration project comprises 3 areas of mapped surface lithium mineralization located 5.5 to 11 km west of the Company’s Falchani lithium deposit near the village of Quelcaya in Puno, southeastern Peru (see Figure 1 – Quelcaya – Falchani Drill Platform Location Map, below). Quelcaya was the first of three exploration drilling permits submitted by the Company, which was granted by the Peruvian Ministry of Energy and Mines (MINEM) in May 2023. Drilling continues in and around Quelcaya with 6 drill hole platforms planned in total, each with multiple holes.
Piedmont Lithium announced a strategic investment in a large prospective lithium project in Newfoundland, Canada. Piedmont has agreed to pay C$2 million for a 19.9% equity interest in Vinland Lithium Inc., a new entity established with Sokoman Minerals Corp. (40.1%) and Benton Resources Inc. (40.1%). The Company also may earn up to a 62.5% equity interest in Killick Lithium Inc., a wholly-owned subsidiary of Vinland Lithium holding a 100% interest in the Killick Lithium Project, through a staged investment agreement. Piedmont will be entitled to 100% marketing rights and a right of first refusal on 100% offtake rights to any lithium concentrate produced by the Project on a life-of-mine basis at competitive commercial rates.
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