VANCOUVER, British Columbia, January 26, 2017, WCTXF, /PRNewswire/ —
LiCo Energy Metals Inc. (“the Company “or” LiCo”) (OTCQB: WCTXF) (TSX-V: LIC); is pleased to announce the appointment of Marcela Matus Hernandez of Santiago, Chile to the technical advisory board of LiCo Energy Metals Inc. Ms. Matus Hernandez is a Chemical Engineer with more than 15 years of experience in Mining and Chemical Processes. Her professional achievements include conceptual engineering, control of chemical processes, development and implementation of pilot testing of research projects, study and characterization of mineral ores. From 2008 – 2015 she held the position of Director of Research and Processes for SQM, Chile leading a staff of 16 professionals. Currently she works as a Principal Process Engineer, developing the area of non-metallic mining in Chile and Argentina for one of the world’s leading professional services companies operating in the global markets of water, energy and resources, environment, property and buildings, and transportation.
Mr. Tim Fernback, COO, says: “We are very pleased to have a highly regarded chemical engineer with a great deal of lithium extraction expertise join our team. Especially one from Chile who has work experience in virtually all the important salars in the South American Lithium Triangle. The experience that Marcela has gained will also assist the Company in developing our two large exploration projects in Nevada.”
Purickuta Site Visit
The Company is pleased to announce that company management along with exploration personnel have recently completed a site visit to the Purickuta project in the Salar de Atacama, Chile. (see news release dated January 3, 2017). The visit confirmed that the Purickuta Project exhibits many highly desirable attributes including: 1) being both a low-cost and a near term development opportunity; 2) the overall project size fits well within the capabilities of LiCo to quickly define lithium reserves and establish production facilities.; 3) the property is well situated since both SQM and Albermare are mining the highest-grades of lithium brine anywhere in the world just a short distance away; 4) LiCo has an option on one of only four exploitation concessions granted in Salar de Atacama.
About the Purickuta Project: https://licoenergymetals.com/
The Purickuta Project is located within Salar de Atacama, a salt flat encompassing 3,000 km2, being about 100 km long, 80 km wide and home to approximately 37% of the worlds Lithium production. The salar possesses a very high grade of both Lithium (1,840mg/l) and Potassium (22,630mg/l and is close to power, labour, communications, transportation and other infrastructure. The property of 160 hectares is enveloped by a concession owned by Sociedad Quimica y Minera (“SQM”) and lies, significantly, within a few kilometers of the property of CORFO (the Chilean Economic Development Agency) where its leases to both SQM and Albermarle’s Rockwood Lithium Corp Together these two companies have combined production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) annually making up 100% of Chile’s current lithium output. The unique characteristics of Salar de Atacama make finished lithium carbonate easier and cheaper to produce than any of its peer group globally.
Purickuta is a smaller exploitation concession rather than a large exploration concession thereby accelerating the task of taking the project to production once a measured reserve can be established. Currently, the Chilean government retains ownership of lithium separate from other minerals and thus production can only proceed upon receipt of a special lithium operation contract know as a “CEOL”. In the future, it will be necessary for LiCo and partner to negotiate a production contract with CORFO concurrently with completing any positive feasibility study. “Chile, which has one of the world’s most plentiful supplies of lithium, is pushing ahead with new policies to develop those reserves”. (Reuters Jan2, 2017).
Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG.
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s focus is directed towards exploration for high value metals integral to the manufacture of lithium ion batteries.
The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne Project located near Cobalt. Ontario. The Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver. A significant portion of the cobalt that was produced at the Agaunico Mine located along structures that extended southward onto property currently under option to LiCo Energy Metals.
The Company has an option to acquire a 100% interest, subject to a 3% NSR, on a large lithium exploration project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The geologic setting and presence of lithium in active geothermal fluids and surface salts in Dixie Valley match characteristics of producing lithium brine deposits at Clayton Valley, Nevada and in South America.
The Company has entered into an option agreement whereby the Company may earn an undivided 70% interest, subject to a 3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project that consists of 128 placer claims (2,560 acres/ 1,036 hectares) in southwest Black Rock Desert, Washoe County, Nevada.
The Company is planning an exploration programs for all its properties over the next several months.
On Behalf of the Board of Directors
Rick Wilson, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as Exchange approval of the Option Agreement and the Company‘s ability to exercise the Option, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
