Jan 05, 2022 (Baystreet.ca via COMTEX) -- Lithium could be a hot commodity again this year. After all, “Lithium is one of the most important elements for our transition to a lower-carbon future. Lithium batteries are replacing the fuel in combustion engines in a variety of applications. As the penetration of electric vehicles rapidly grows, demand for lithium has grown exponentially,” reports Forbes. In addition, with demand still outweighing supply, lithium prices could push aggressively higher. In fact, according to S&P Global, “The global lithium market has seen prices moving to new record highs almost daily, boosted by limited supply and good demand. This strength is expected to continue into 2022.” That’s big news for lithium companies such as Scotch Creek Ventures /zigman2/quotes/203942801/delayed CA:SCV +1.04% /zigman2/quotes/227464304/composite SCVFF +8.49% , Ameriwest Lithium Inc. /zigman2/quotes/219760760/delayed CA:AWLI -3.61% /zigman2/quotes/200835295/composite AWLIF -0.69% , American Lithium Corp. /zigman2/quotes/205744785/composite LIACF +0.89% /zigman2/quotes/207915256/delayed CA:LI +1.05% , Standard Lithium Ltd. /zigman2/quotes/208666348/composite SLI +7.14% /zigman2/quotes/204508773/delayed CA:SLI +7.88% , and Albemarle Corporation /zigman2/quotes/200578017/composite ALB +6.22% .
Scotch Creek Ventures received its drill permit from the Bureau of Land Management (BLM) on its Macallan East lithium project in Clayton Valley, Nevada.
Clayton Valley has been a prolific source of lithium brine in North America and is the home of the only producing lithium operation in North America (Albemarle Corp). Scotch Creek’s Macallan East project borders multiple known lithium resources including Pure Energy Minerals’ 218,000 metric-tonnes lithium resource. Scotch Creek has identified three high-priority lithium drill targets within its Macallan East project and aims to initiate a drill program totaling over 19,000 feet of drilling (See press release October 27, 2021 ).
Matt Vitale, Scotch Creek’s Technical Expert, commented “Clayton Valley’s basin has collected, retained, and concentrated lithium into both mineral brines and claystone. The Macallan East Lithium Project is located along a key portion of the eastern margin of the basin. This eastern margin seems to be preferential for lithium concentrations in the Clayton Valley, based on adjacent projects. We are excited to begin our drill campaign in hopes of discovering America’s next considerable lithium resource.”
Scotch Creek would like to invite investors and stakeholders to connect with our investor relations team or visit our website to sign-up to receive regular updates and news alerts.
Other related developments from around the markets include:
Ameriwest Lithium Inc., a North American lithium exploration and development company, is pleased to provide an update to the Company’s news release dated September 20, 2021, which announced the staking of a now-amended 829 placer mineral claims covering an area of 15,735 acres in the Edward’s Creek Valley, Nevada. The staking program positions Ameriwest to have effectively tied up the entire valley, an area roughly 8.25 miles long and 3.25 miles wide in size. The Company believes the mineral claims are highly prospective for the discovery of lithium brines deposits.
American Lithium Corp. announced that initial exploration drilling has been launched at TLC North (Big Smoky acquisition land) near Tonopah Nevada. Initial drilling has successfully drilled thick intersections (up to 96.9 m / 318 ft) of lithium-bearing claystone. A drone magnetic geophysical survey is also being flown across a large portion of the TLC project area to provide detailed geophysical information as the Company finalizes the precise positioning of drill collars for its next phase of development drilling under its Plan of Operations filed in January 2021 and expected to receive final approval in mid-late December 2021.
Standard Lithium Ltd., an innovative technology and lithium project development company announced it has signed a Letter of Intent with Koch Engineered Solutions for support with pre-front end engineering design at the Company’s proposed first commercial plant located at the Lanxess facility in southern Arkansas. Standard Lithium’s President and COO, Dr. Andy Robinson commented “The Company is undergoing a period of transformational growth, and we must add to our team in order to move fast and efficiently towards the first commercial plant. The deep bench-strength and world class resources that the KES businesses bring is vital to us building the strongest possible project execution team.”
Albemarle Corporation announced its results for the third quarter ended September 30, 2021. Despite supply chain challenges and increased raw material costs last quarter, we continued to deliver solid revenue and adjusted EBITDA growth," said Albemarle CEO Kent Masters. "In October, we achieved first lithium carbonate production at our new La Negra III/IV conversion facility. We are making investments to add significant conversion capacity in China, initially targeting up to 150,000 metric tons of lithium hydroxide per year which will provide high-return growth opportunities aligned with the increasing demand from our customers."
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Scotch Creek Ventures by Scotch Creek Ventures. We own ZERO shares of Scotch Creek Ventures. Please click here for full disclaimer.
Is there a problem with this press release? Contact the source provider Comtex at email@example.com. You can also contact MarketWatch Customer Service via our Customer Center.