The global demand for lithium is reaching new heights.
The lithium market has witnessed numerous price increases throughout the year. Additionally, the production of lithium, like other raw materials, is failing to keep up with demand. In fact, demand for lithium has been skyrocketing in recent years, in large part as the result of the ever-expanding electric vehicle (EVs) market.
According to Platts Analytics, global plug-in light-duty EV sales are expected to rise to 6.5 million units in 2022 and 10.5 million units in 2025, up from an estimated 6 million units in 2021 and 3.1 million units in 2020.
Lithium-ion batteries are being rapidly adopted due to their compact size, rechargeability, recyclability and high-density energy output. Infinity Stone Ventures Corp. (OTC: GEMSF) (CSE: GEMS), BrightRock Gold Corp. (OTC: BRGC), Patriot Battery Metals Inc. (OTC: PMETF), Standard Lithium Ltd. (NYSE: SLI), Snow Lake Resources Ltd. (NASDAQ: LITM)
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While the EV industry remains in its infancy even as battery technology advances, demand for lithium in the sector is only expected to accelerate.
William Tokash, Senior Research Analyst with Navigant Research, said:
The push by automotive original equipment manufacturers (OEMs) and battery manufacturers to continually reduce battery pack costs continues.
And, the Global Lithium Market size was estimated at USD 5.5 Billion in 2021 and expected to reach USD 9.8 Billion in 2026, at a Compound Annual Growth Rate (CAGR) 11.93%, according to ResearchAndMarkets.
Infinity Stone Ventures Corp. (OTCQB: GEMSF) (CSE: GEMS) announced earlier this month breaking news, “that it has entered into an option agreement to acquire an additional 1,336 hectares directly adjacent to the Company’s Hellcat Project (the “New Claim Block”), which is part of Infinity Stone’s larger Camaro Project, near Patriot Battery Metals (“PMET” or “Patriot”) Corvette Lithium Discovery in the James Bay Region of Quebec.
The block is contiguous with the northwestern boundary of Infinity Stone’s Hellcat Project. The newly acquired area hosts an additional five pegmatite occurrences, with an additional 11 appearing in the southeastern Hellcat Project.
The fall exploration program, conducted by Axiom Exploration Group, Infinity Stone’s contracted technical team, (the “Fall Program”) was extremely successful in confirming historically mapped pegmatites and identified new showings.
87 samples were collected over 3850 hectares of claims adjacent to the Patriot discovery. The samples have been shipped to Saskatchewan Research Council (“SRC”) lab in Saskatoon, Sask., with assay results expected to be returned in the coming weeks.
One of the significant highlights of the Fall Program was the identification of a cluster of highly prospective pegmatitic dykes and cross cutting structures near the northern margin of the Hellcat claims extending to the north, into the newly acquired claim area.
The white, coarse grained, pegmatite dykes in this area were mineralogically characterized by tourmaline, garnet, and muscovite which are common LCT (Lithium-Cesium-Tantalum) pegmatite indicator minerals in the district.
The New Claim Block is underlain by 9 km of strike length of underexplored greenstone and metasediments of the Mesoarchean Rouget formation and Neoarchean Marbot formation respectively.
The under-explored Rouget formation greenstone belt represents an attractive exploration target which is geologically similar and proximal to the Guyer Group greenstone which hosts the PMET Corvette Pegmatites.
Zayn Kalyan, CEO of Infinity Stone, said:
Following our recent Fall Program, we moved quickly to expand our footprint and focus on the most prospective areas of the Camaro Project in James Bay.
“The identification of tourmaline, garnet, and muscovite, in pegmatites on the expanded Hellcat have given us an area of considerable interest and will be critical to our exploration program moving forward,” furthered Mr. Kalyan…
Qualified Person – Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a “Qualified Person” as defined under NI 43-101 Standards of Disclosure for Mineral Projects and a director of the Company.
BrightRock Gold Corp. (OTC: BRGC) announced on August 29th, that the team at Red Beryl Mining Company continues their work on an extensive mapping program of the completed 1400 acre expansion. BrightRock is excited to announce that the team has discovered a second mine with a possible substantial lithium deposit.
The Lone Giant Prospect approximately 0.38 miles from the recent P. and G. Beryl discovery. BRGC CEO Mac J. Shahsavar, P. Eng. Commented “Steven Cyros has been commissioned to do an on ground inspection and a live video at both the P. and G Beryl and Lone Giant Prospect.
BrightRock Gold will release the Inspection Video shortly for our investors’ viewing. We continue to establish ourselves as a major contender in the lithium space. With the recent 1400 acre expansion, discovery of two additional historic mines, we are developing a portfolio of lithium-rich assets to become a major supplier of lithium based products.”
Patriot Battery Metals Inc. (OTCQB: PMETF) announced on October 12th, core assay results for twelve (12) additional drill holes (CV22-040, 041, 045, 047 through 054, and 056) from its 2022 drill campaign at its wholly owned Corvette Property (the “Property”), located in the James Bay Region of Quebec.
The primary drill area is focused at the CV5 Pegmatite, located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure with two drills currently coring. A third drill rig has been active at the CV13 pegmatite cluster for initial drill testing since early September.
Standard Lithium Ltd. (NYSE: SLI) provided an update on September 7th, on its first commercial lithium plant in Arkansas.
Dr. Andy Robinson, President and COO of Standard Lithium commented:
The award of this FEED study marks a significant milestone for Standard Lithium as it moves the Company and all our project partners closer to commercialization.
“Our internal project team went through a rigorous competitive selection process, and we are delighted to work with OPD and its partners in KES and M3 Engineering to design our first commercial facility and move towards an EPC contract and then to construction.”
“The selection process and study award are further examples of Standard Lithium’s commitment to disciplined and responsible project development. Commercial discussions with Lanxess that will support the construction and operation of the first commercial plant are ongoing, as are all supporting studies such as permitting, geotechnical investigations and engineering integration with Lanxess’ existing infrastructure.”
Snow Lake Resources Ltd. (NASDAQ: LITM) announced on October 4th, hosted LG Energy Solution in Manitoba, Canada on September 13th to explore the potential next step towards building a domestic supply chain for the North American electric vehicle market.
Cliff Cullen, Manitoba’s Deputy Premier commented:
Companies such as LG Energy Solution and Snow Lake Lithium are leading the exploration and development of critical minerals that will be key to helping the world pursue the goal of decarbonisation.
Philip Gross, CEO Snow Lake Lithium said:
The visit was a great success and there is an exceptional opportunity here in Manitoba to establish a strong domestic supply chain for the US automobile industry.
“Following our exciting collaboration with world-leading LG Energy Solution we are confident that our rock to road battery supply chain will help the electric vehicle market in North America.”
The Global Demand for Lithium is Reaching New heights, NEW YORK, October 27, 2022
