Issue link: http://resourceworld.uberflip.com/i/1058321
28 www.resourceworld.com D E C E M B E R / J A N U A R Y 2 0 1 9 A NEW INDUSTRY is being born, the heart of which comprises the electric vehi- cle and stationary power storage sectors. Below are corporate summaries of explor- ers and miners targeting minerals that make up batteries; namely cobalt, graph- ite, lithium, manganese and vanadium. LITHIUM COMPANIES Argentina Lithium & Energy Corp. [LIT- TSXV; PNXLF-OTCQB; OAY1-FSE] has been exploring lithium brine exploration programs at its three projects: Antofalla, Arizaro, and Incahuasi in the Lithium Triangle in Argentina. Results have been received from CSAMT deep geophysical survey on the Antofalla Norte Lithium Project that identified four initial lithium- bearing brine drill targets. Several other companies are exploring properties on the Antofalla salar, including global lithium producer Albemarle. Argentina Lithium recently dropped the Arizaro option. Avalon Advanced Materials Inc. [AVL-TSX; AVLNF-OTCQX; OU5-FSE] has prepared an independent Preliminary Economic Assessment (PEA) of its Separation Rapids lithium deposit, near Kenora, northwest Ontario. The updated PEA reflects a simplified business model that focuses on initial production of lith- ium mineral concentrates, with potential for future expansion into production of the battery materials lithium carbonate and lithium hydroxide. This smaller scale development model reduces capital expen- diture requirements substantially from the original model completed in September 2016, while generating attractive returns and reducing overall business risk. Average annual revenue is estimated at $90 million versus average annual costs of $60 million, resulting in a pre-tax NPV (at 8% discount rate) of $156 million and a pre-tax IRR of 27.1%. The post-tax NPV is calculated at $102 million and the IRR at 22.7%. Azincourt Energy Corp. [AAZ-TSXV; AZURF-OTC] has options with New Age Metals Inc. [NAM-TSXV; PAWEF-OTC; P7J-FSE] on eight lithium projects in the Winnipeg River pegmatite field located in southeast Manitoba. Mapping has extended the Eagle pegmatite approximately 300 metres west of the company claim bound- ary. A second phase of surface sampling at the Eagle pegmatite has returned assays up to 3.8% lithium oxide (Li 2 O). Belmont Resources Inc. [BEA-TSXV; L3L-FSE] reports further drilling is planned at its Kibby Basin property 65 km north of Clayton Valley, Nevada. In conjunction with drilling, exploration will include downhole geophysical surveys in order to identify lithium brine prospective permeable and conductive zones above and within the conductive anomaly identified by Quantec's MT survey in February 2018. A September 12 news release described assays from samples between 970 and 1,210 feet (240-foot thickness) that contained an average of 390 parts per million lithium. On September 28, the company reported 20 samples which exceeded 100 ppm lithium with seven samples assay- ing greater than 375 ppm, and up to 580 ppm Li at 1,791 feet. On October 31, 2018, Belmont reported a further 139-foot inter- section averaging 393 ppm Li. MGX Minerals Inc. [XMG-CSE; MGXMF-OTCQB; 1MG-FSE] has until December 31, 2018 to earn another 25% (total 50%) interest in Belmont's Kibby Basin property with the goal of forming a 50/50 joint venture to utilize MGX's rapid lithium extraction technology. Cypress Development Corp. [CYP- Battery Mineral Companies by Ellsworth Dickson