Montreal, March 3, 2022 (GLOBE NEWSWIRE) — Brunswick Exploration Inc. (“”BRW” or “society”) Has launched a large-scale, long-term grassroots lithium exploration program in Quebec and Primorskaya Oblast, announcing that it is the first to bet on some promising claims blocks throughout the Abitibi region of southern Quebec. .. A total of 618 claims, totaling 35,440 hectares, divided into 12 blocks, have been obtained and are collectively known as the Pontiac Lithium Project. The claim covers the known pegmatite intrusive rocks that are the host rock to Spojumen, the most common and commercially valuable hard rock ore of lithium. All claims are located in the Pontiac Province, south of the Cadillac-Lake Lader Rest, accessible by road from Rouyn-Noranda, Malartic, or Val-d’Or.
Killian Charles, President of BRW, commented: The tin and lithium fundamentals were incredibly powerful and were the best performing metals in 2021. We do not expect demand and spot prices for these valuable products to fall soon. “
“Few companies are actively looking for new discoveries in lithium space, as most of their current exploration efforts focus on historic deposits and screenings. Leveraging our exploration expertise. We were able to bet on many areas in sound geology and favorable rock geochemistry without historic lithium exploration. We believe it is very likely that a new spojumen pegmatite will be discovered in eastern Canada. We are very excited to start the very busy field season starting in the second quarter of 2022. Elsewhere in Quebec, we have begun to outline several new and highly promising lithium targets. And go further away to the coastal states. “
Lithium market foundation
The lithium market is growing rapidly as lithium-ion batteries, primarily used in automobiles and small electronics, are creating demand that already exceeds global supply. The surge in demand is mainly due to the promotion of decarbonization by the Western government, which is trying to shift its economy to a sustainable energy source.
In 2021, market consultant Adamas Intelligence estimated that electric vehicles would increase by 89% year-on-year (“EV”) Purchases without signs of market depletion. This significant increase in global demand for EVs is a planned investment of over $ 200 billion in 2020 alone, spurring large-scale investment from the automotive industry to develop and advance the early markets. Called.
Importantly, the mining industry was unable to meet current and expected demand. Lithium carbonate, the most common lithium battery component, has increased in price almost 10 times over the last decade. Prices have risen by more than 500% since 2020 and continue to trade near record highs.
Currently, global lithium production comes from three different deposit types.
- Brine: Large continental saline deposits, usually of low grade (less than 2000 ppm lithium). Brine lithium deposits make up the majority of the world’s lithium carbonate production and resources. They are formed by the evaporation of ancient seas or existing salt-rich natural hot springs. The resulting salt flat is mined for underground liquid brine. Globally, saltwater is concentrated in the “Lithium Triangle” in the northern Andes in Bolivia, Chile and Argentina. Treating lithium from brine usually consumes large amounts of water, which is a major limiting factor in dry areas. This subset of deposit types includes lithium produced from geothermal sources with high lithium concentrations. It is currently a minor source of lithium worldwide.
- Lithium bearing clay: It is also large and low grade (2000-6000 ppm lithium) but hosted by soft rock (clay). This deposit type is currently the smallest source of lithium due to the need for open pit mining and more complex metallurgy. The main resource basin is Nevada, which currently has one mine operating in North America.
- Pegmatite: It is the smallest sediment type, but its grade is in the percentage range (usually 1-2% lithium), so it is a multiple of higher than salt water and clay. Pegmatite is mined for the lithium-containing mineral Spojumen, from which commercial concentrates are produced for processing. Other lithium minerals in pegmatite, such as lithium mica (lepidolite), have little commercial value. Due to its low levels of impurities compared to other types of deposits and its simple metallurgy, pegmatites containing spojumen are one of the first sources of lithium and continue to be an important part of the market. Australia’s Greenbush mine, the world’s largest producer of hard rock lithium and one of the finest mines, is lithium pegmatite. Brunswick Exploration concentrates exploration work on this deposit type.
Other important lithium deposits include Rio Tinto’s Judder deposit in Serbia, a world-class lithium resource. The main ore mineral is known as Jadarite, a rare boron-lithium mineral. This is the only known deposit of this kind in the world and is not currently in production.
The scientific and technical information contained in this press release is from Robert Warehouses, P., CEO and Chairman of Brunswick Exploration. Reviewed and approved by Geo.
About Brunswick Exploration
We are a Montreal-based mineral exploration venture listed on the TSX-V under the BRW symbol. We focus specifically on lithium, tin, nickel and copper, and on the grassroots exploration of the metals needed for decarbonization and energy conversion. The company is focused on rapidly advancing the most extensive grassroots lithium exploration claims package in eastern Canada.
Investor Public Relations / Information
Killian Charles, President (info@BRWexplo.com).
Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.
Precautions regarding future prospects
This news release contains “forward-looking information” in the sense of applicable Canadian securities law, based on expectations, estimates and forecasts as of the date of this news release. Forward-looking information includes risks and uncertainties in which actual events, results, performance, outlook, and opportunities may differ materially from those expressed or implied by such forward-looking information. , And other factors are included. Factors that may cause actual results to differ materially from such forward-looking information include delays or failure to obtain the required approvals for government, environment, or other projects. Not limited to. Uncertainty regarding the availability and cost of future funding. Stock market changes; Inflation; Commodity price fluctuations; Project development delays. Other risks associated with the mineral exploration and development industry. These risks are documented in Kosha’s public documents filed with SEDAR at www.sedar.com. We believe that the assumptions and factors used to create information about the future outlook for this news release are reasonable, but are excessive for such information that applies only as of the date of this news release. You shouldn’t trust and can’t guarantee. It is assumed that such an event will not occur within the disclosed time frame or at all. We disclaim any intention or obligation to update or revise future outlook information as new information, future events, or otherwise as required by law. Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this news release.
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Brunswick expands to lithium exploration with Canadian business journal Quebec district-wide land package
Source link Brunswick expands to lithium exploration with Canadian business journal Quebec district-wide land package