U.S. Lithium Corporation (LITH),is an exploration and development company focused in North America on lithium and related resources for the rapidly growing energy storage industry. The Company looks to capitalize on opportunities within the lithium sector including providing lithium to the ever expanding next generation battery market. Lithium demand is projected to triple by the year 2025 according to a recent report by Goldman Sachs and for many analysts is considered the new gasoline of the future. As the demand for lithium expands, U.S. Lithium Corp intends to be an integral part of this next booming industry. Their current focus is in the Basin and Range province of Nevada where the only producing lithium brine mine in North America, Albemarle’s Silver Peak Project, is located. Elon, their first project, is located in Clayton Valley and is in close proximity to Silver Peak and several other active explorers and developers.
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U.S. Lithium Retains Dr. Larry Hulbert to start work on Cobalt/ Nickel/ Copper Properties
HENDERSON, Nev., March 06, 2017 (GLOBE NEWSWIRE) — U.S. Lithium Resources Inc. (OTC:LITH) (the “Company”) is pleased to announce that it has retained Dr. Larry Hulbert Senior Exploration Consultant with over 45 years experience working on properties with the same metallogeny as U.S. Lithium’s Saskatchewan Cobalt/ Nickel/ Copper properties.
These properties have grades up to 3.92% Nickel, 0.70% Copper and 2.86% Cobalt as reported by the Saskatchewan government (Mineral Property # 0880).
Historical resource (non-NI43-101 compliant) estimates were generated in 1968 and 1990. The 1968 resource for the Gochagar deposit calculated 4.3 million tons grading 0.30% Ni and 0.08% Cu. J.S. Steel in 1990 reported that vertical and longitudinal sections were constructed from the existing data and an orebody with reasonably well defined limits was defined containing 1,770,000 tones at 0.735 percent nickel-equivalent. more
Historic Massive Sulphide Deposit Expected To Contain High Levels of Cobalt
HENDERSON, Nev., Feb. 24, 2017 (GLOBE NEWSWIRE) — U.S. Lithium Resources Inc. (OTC:LITH) (the “Company”) is pleased to announce it entered an agreement to acquire 100% of the Gochagar Lake Nickel-Copper-Cobalt project claims from Diamond Hunter Ltd (the ”Vendor”).
The project, which consists of four claims covering 3,759 hectares, is located in northern Saskatchewan approximately 75 km north of the town of La Ronge. Historical exploration has identified semi-massive and massive Ni-Cu deposits with significantly elevated levels of Cobalt, a vital component in the manufacture of the latest generation of lithium ion batteries.
This acquisition aligns with the Company’s strategy to find, acquire and develop mineral deposits that are key to the growing energy storage market, particularly electric vehicles. Cobalt and nickel, along with lithium, are all critical components in the rapidly developing rechargeable battery market. more