- Global lithium-ion battery market expected to reach $93.1 billion by 2025, growing at a CAGR of 17 percent
- Lithium demand driven by increased usage of electric vehicles, consumer electronics and grid storage systems
- Lithium Chile’s property portfolio includes 15 projects on lithium-rich salars and lagunas in Chile
- 2018 exploratory drilling underway at Ollagüe project site, with prior sampling of lithium brines in area ranging from 160 to 1,220 mg/l lithium.
- First drill hole has already hit a large brine-saturated zone
Lithium Chile Inc. (TSX.V: LITH) (OTCQB: LTMCF) is on track to maximize its early-mover exploration advantage with its portfolio of 15 projects on lithium-rich salars and lagunas in Chile. The very first drill hole has got people excited, thanks to a salt/sand zone of 180 meters in depth that is brine-saturated. If those brines turn out to contain lithium and should that lithium be of similar grade to those found during Lithium Chile’s sampling program, it could put this company on a lot of radars. Brine samples from that hole, taken from the company’s wholly owned Ollagüe project located in the Antofagasta region of Chile, were sealed on site and have been sent to accredited laboratory ALS Patagonia for official chemical assays (http://nnw.fm/Zdp1T).
Prior to drilling, the company’s comprehensive sampling program at the project encountered near-surface lithium brines assaying from 160 to 1,140 mg per liter of lithium, with “first rate chemistry.” Even more exciting, this specific drill hole is located approximately one kilometer from an historic test well that recently returned assay results of 1,220 mg/l lithium from newly taken downhole fluid samples.
If you’re not familiar with lithium brine projects, it’s important to know that the salars (salt flats) that host them can extend for many, many kilometers, so being just one kilometer from grades as high as 1,220 mg/l lithium is a big deal. It can take two to three weeks for chemical analysis to be completed, so it could be worth keeping a close eye on this one.
Lithium Chile has amassed one of the largest lithium land packages in Chile that includes 152,900 hectares within the world’s highest-grade lithium district. Chile hosts the highest-grade lithium reserves in the world, and, importantly, the new government signaled earlier this year that it was looking to open up its lithium mining industry. After receiving strong community support and government authorization for its drilling program on the Salar de Ollagüe, Lithium Chile President and CEO Steve Cochrane is expressing excitement for this phase of the company’s growth.
“Drill programs are, without question, the most exciting periods possible in the life of an exploration company,” Cochrane told shareholders on the company blog (http://nnw.fm/F2iET). “Lithium Chile’s technical team is working flat out, preparing for our multi-project program in Chile. These preparations follow hot on the heels of a series of geophysical surveys we conducted on our highest profile projects.”
Recent surveys discovered a huge, 60-square-kilometer target area at the Helados project, as well as multiple large target areas of 20-25 square kilometers at the Atacama and Ollague projects, Cochraine writes, adding, “These target areas coincide with the locations of our highest grades from the sampling program carried out earlier on these projects.”
Upon completion of the company’s initial four-hole Ollagüe drilling program, Lithium Chile intends to complete a similar drilling program on each of its advanced projects in quick succession.
The global lithium-ion battery market is expected to reach $93.1 billion by 2025, growing at a CAGR of 17 percent, according to a new report by Grand View Research, Inc. (http://nnw.fm/Z3e0S). The increasing popularity of electric vehicles worldwide and government-mandated moves to control and reduce carbon emission levels are seen as huge factors driving the lithium market.
Lithium’s combination of low mass and high electrochemical potential makes it perfect for EV battery usage in consumer electronics, which is currently the largest application segment in terms of both volume and revenue, the report states. Energy storage systems are expected to witness the fastest growth at a CAGR of 21 percent from 2017 to 2025 owing to developments in wind and solar photovoltaic in countries such as Germany, China and the United States, the report concludes.
For more information, visit the company’s website at http://nnw.fm/LTMCF
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