Elon Musk is calling for lithium refining to increase substantially to keep the sustainability movement on track. While Musk previously said that Tesla (NASDAQ:TSLA) would prefer not to enter the mining industry unless absolutely necessary, the EV maker is looking into the possibility of building a lithium refinery on the Texas Gulf Coast. The company has previously stated that more players in the lithium refining industry are needed. Given Tesla’s plans to significantly scale its operations in the coming years, it’s not surprising that the company is looking for new ways to acquire raw materials for the batteries that its EVs and energy storage systems will require. Of course, Tesla isn’t the only automaker racing to secure lithium supply, creating a significant uptick in the price of the battery metal and increasing interest in lithium mining companies like Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF), Sayona Mining Limited (OTC:SYAXF), Sigma Lithium (TSXV:SGML) (NASDAQ:SGML), and Standard Lithium (TSXV:SLI) (NYSEAmerican:SLI).
Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF) is concentrating its efforts on the advancement of its 100%-owned Zeus Lithium Project in Clayton Valley, Nevada, an emerging lithium hub in the United States. With the growth of the electric vehicle and energy storage markets, the Company intends to become a key participant in domestic lithium supply.
Following the completion of the Phase VI drill program in the second quarter of 2022, Noram Lithium announced a significant increase in its estimated mineral resources at Zeus.
The Zeus project’s Measured and Indicated (M&I) lithium carbonate equivalent (LCE) Resources have increased by 190% since the August 2021 Mineral Resource Estimate. At a 400 ppm Li cut-off grade, M&I Resources increased to 5.17 million tonnes (Mt) LCE (1,034 Mt at 941 parts per million (ppm Li)).
Noram Lithium’s 2022 Phase VI drill program still has significant inferred resources. At a 400 ppm Li cut-off grade, the inferred resources are 1.09 Mt LCE (235 Mt at 871 ppm Li). Given the density of the drill program (82 holes drilled to date), there is a high level of confidence in the deposit modeled.
The high-grade core (60 meters thick x 1.2 kilometers wide x 3.0 kilometers long) represents a potential opportunity for mine plan optimization. The Measured and Indicated Resources total 1.2 Mt LCE at a Li cut-off of 1,200 ppm (169 Mt at 1,326 ppm Li).
“The updated mineral resource estimate, with 82 drill holes completed to-date, highlights that Noram’s Zeus Lithium Project is exceptionally well positioned in the United States amongst its peer deposits in terms of grade and contained Lithium Carbonate Equivalent,” said Greg McCunn, Noram Lithium’s CEO. “The high-grade core of the deposit outcropping at surface provides a significant opportunity to optimize the project mine plan and enhance value. With a strong treasury and a strengthened technical team, we are expecting to move aggressively in 2023 to further de-risk the project with continued metallurgical testing and completion of a Prefeasibility Study.”
For more information about Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF), click here.
Lithium Companies Are Progressing on Their Operations
Tesla’s (NASDAQ:TSLA) exceptional sales record in California demonstrates that, despite the availability of numerous other EV options, it remains the best option in what could be considered the country’s electric car hotspot. According to the California Department of Energy sales figures, Tesla sold 212,586 units in California in 2022, accounting for just under 73% of the 292,496 battery electric vehicles (BEVs) sold in the state by all manufacturers combined. The Model 3 narrowly outsold the Model Y with 94,683 units sold. The Model Y sold 93,872 units for the year, while the Model X (13,319) and Model S (10,712) remain “sentimental” to the company’s overall picture. BMW (15,057) and Ford (14,517) came in second and third, respectively, with the X5 (4,346) and Mustang Mach-E (9,860) being the best-selling models.
Sayona Mining Limited (OTC:SYAXF) has moved closer to resuming production at its flagship North American Lithium (NAL) operation in Québec, Canada, in Q1 2023, with work continuing during the Christmas holiday period to ensure deadlines are met. By the end of December, engineering and construction progress had reached nearly 90%, with all critical equipment, including the vacuum pump and WHIMS Rectifier Reducer, received. The LIMS, as well as the third ore sorter and other critical items, were installed. To maximize progress, up to 50 workers from selected contractors worked through the holidays. Importantly, there were no recordable injuries during the period, demonstrating Sayona‘s commitment to a ZeroTolerance safety policy. Preoperational verifications and operational readiness, including training and process operational support, continue to progress, with 75% of electrical and mechanical inspections completed.
Sigma Lithium (TSXV:SGML) (NASDAQ:SGML) just announced the start of commissioning of its dense medium separation processing plant, one month ahead of schedule. It also announces certain leadership changes as it evolves, with commercial production of Battery Grade Sustainable Lithium expected to begin this April on time and on budget. Brian Talbot will continue to lead Sigma Lithium‘s operations as Chief Operating Officer. Ana Cabral-Gardner, who was previously Co-CEO, remains CEO of Sigma Lithium. She will also remain on the Company’s Board of Directors as Co-Chair. Gary Litwack, currently Sigma Lithium‘s Lead Independent Board Director, has been appointed Non-Executive Co-Chair of the Board as part of the transition.
Standard Lithium (TSXV:SLI) (NYSE American:SLI) has named Claudia D’Orazio and Anca Rusu, both experienced energy executives, to its Board of Directors as independent directors. Claudia D’Orazio, CPA, is a seasoned executive with experience in oil and gas, energy, mining, public accounting, and finance. Centerra Gold Inc., a publicly traded Canadian gold mining company, currently employs her as Vice President and Chief Human Resources & Technology Officer. Before joining Centerra Gold, Ms. D’Orazio was Vice President, Human Resources at Pembina Pipeline Corporation from 2006 to 2020. Anca Rusu is a strategic leader with over 20 years of global capital project management experience in the energy sector. She was most recently a Special Advisor, Projects and Engineering at Royal Dutch Shell, where she helped reposition the global Projects organization to align with the company’s focus on the energy transition.
Noram Lithium also recently enhanced its technical team with the appointment of Dr. Marcus Tomlinson as a Metallurgical Consultant, who brings over 30 years of experience in metallurgical process development, engineering, and operations support. The Company also formally contracted Dr. Vahid Sohrabi as a Hydrogeological Consultant who has 19 years of experience in the field of environmental services in Canada and internationally.
Featured Image Depositphotos
Disclosure:
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
2)The Article was issued on behalf of and sponsored by, Noram Lithium Corp. Market Jar Media Inc. has or expects to receive from Noram Lithium Corp.’s Digital Marketing Agency of Record (Native Ads Inc.) sixty-nine thousand, four hundred and eighty US dollars for 24 days (18 business days).
3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.
4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.’s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com.
5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.
6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Noram Lithium Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Noram Lithium Corp.’s industry; (b) market opportunity; (c) Noram Lithium Corp.s business plans and strategies; (d) services that Noram Lithium Corp. intends to offer; (e) Noram Lithium Corp.’s milestone projections and targets; (f) Noram Lithium Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Noram Lithium Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Noram Lithium Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Noram Lithium Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Noram Lithium Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Noram Lithium Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Noram Lithium Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Noram Lithium Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Noram Lithium Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Noram Lithium Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Noram Lithium Corp.’s business operations (e) Noram Lithium Corp. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Noram Lithium Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Noram Lithium Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Noram Lithium Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Noram Lithium Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Noram Lithium Corp. or such entities and are not necessarily indicative of future performance of Noram Lithium Corp. or such entities.
Read more investing news on PressReach.com.Subscribe to the PressReach RSS feeds:- Featured News RSS feed
- Investing News RSS feed
- Daily Press Releases RSS feed
- Trading Tips RSS feed
- Investing Videos RSS feed
Follow PressReach on Twitter
Follow PressReach on TikTok
Follow PressReach on Instagram
Subscribe to us on Youtube
