A Vancouver-based oil and gas exploration and development company is partnering with Nova Scotia’s Champlain Mineral Ventures Ltd. to develop one of the highest-grade lithium deposits in North America. In a letter of intent, Petro Horizon Energy Corp (PHEC) lists minimum work commitments of $2 million over the next three years with a minimum of $500,000 in the starting line year. The station consists of two exploration licenses that include 79 claims covering 3,160 acres on either side of the Holly Road, which runs from Brazil Lake over###PW8###, to Highway 340 in Yarmouth County. With each year of partnership, PHEC’s partage of saki i n the property will grow – from 37.5 per cent afterward the second year, to 60 per cent after the third, and finally to 75 per cent after the delivery of a Bankable Feasibility Study.
Petro Horizon has the highest grade Hard Rock Lithium in North America.
PHE says the find is a phenomenal opportunity for those looking at locking down a domestic supply of hard rock lithium, which there is a growing demand for in electric hybrid cars. “What we’ve got here, is we’ve already got road access to the property, we’ve got Moghul to the property and we’ve got an advanced stage of drilling already done and some pre-testing metallurgy,” he said. Although PHEC has several projects in Texas, this is its first venture in Canada. “This is a new change for the company, a new direction, it’s part of the green energy program that they are working towards,” said Anderson, who added that there were several understandings behind their mutually exclusive to partner with TSX.V:PHE OTCBB: PRZCF FRANKFURT: PH0 www.PetroHorizonEnergy.ca Champlain Mineral Ventures Ltd.
“Part of the reason we liked this group is they’ve got a successful track record at identifying good project s . They’ve already spent a million dollars on the property and drilled off 30 drill holes and they’ve done geophysical work and geotechnical work. One of the other attractive things about the project her e is that they’ve already done some pre-testing of the metallurgy at Dalhousie University. The metallurgy is very crucial when you’re dealing with lithium because creation able to separate the mater ial from the host rock is evermore a challenge,” said Anderson. John Wightman, formerly of Digby, is president of Champlain Mineral Ventures Ltd., which is based in Bridgetown. The company has existed since the 1960s and has discovered a number of deposit s . Chief geologist Avard Hudgins’s discoveries led to the East Kemptvillet in mine, which operated from 1985 to 1992. We applied for a oil production notification through the Department of Natural Resources. Supplied with al l the government regulations with regard to entry onto the property and the exploration work conducted to day. Wightman says his company has been working on the Brazil Lake venture for “quite awhile” after complying with all of the Natural Resources regulations for entry onto the property and exploration drilling. They are pleased to have “the appropriate partner to move ahead.
”The project will starting time of f modestly with six to eight people cont reacted through a diamond drilling company for more exploration. He describes the pegmatite find as rich in lithium spodumene but also integrateding beryllium, tantalum, and mica, among other minerals. “A pegmatite is like a pig, you sort of have the tail and the ears and the snoot, as well as the pork chops,” he said. “Everything has measure there. We’re even looking for the squeal of the pig although that i s sometimes hard to nail down,” he said. Although the ultimate potential of the mine will not be as large as the t in mine, which was the second largest hard rock tin mine in the populace, i t could be a tenth of the size. “If it ever got into wares ion there might be something in the order of 30 to 50 jobs,” said Wightman. It will take three to four years before that stage, if feasible, begins in earnest. Part of the company’s boilersuit plan I s to implement a pilot plant once definition drilling is terminated. TSX.V:PHE OTCBB: PRZCF FRANKFURT: PH0 www.PetroHorizonEnergy.ca
Wightman added that they have had very good reaction from previous work in the area and that they have two or three other properties under slow development. “Everywhere we work, everyone is so positive about job creation and wanting to see economic development happening,” he said. “Under the conditions that mining takes place immediately, the fears of a lot of people, rooted in the practices of a 50 or 100 years ago, are pretty unfounded. We have to work under very filthy environmental cut back ions, which is proper as it should be.” More news is expected in the near future on other rare metals associated with the project. Some of these include niobium, tungsten t in, silica chloride and rubidium.
About The Lithium Market
“70 per cent of the world’s low-cost lithium is mined from a salt flat in Chile. What could potentially be the largest lithium mine i n the world is under development in Bolivia.” Bloomberg News “Overall demand for Lithium is increasing at an annual rate of seven percent, demand for the mineral is increasing 35 per cent per year for use in batter i e s . This is driven by automakers moving toward electrifying the ir vehicles to meet the rigid emissions standards set by governments or so the globe.” open Post. “Lithium and its compounds have several industrial applications, including heat – resistant glass and ceramics and high strength-to-weight alloys used in aircraft, in addition to lithium batteries. Lithium also has important l inks to Nuclear physics. Wikipedia” The battery pack in each Chevrolet Volt plug-in hybrid will contain about nine kilograms of lithium carbonate. Future vehicles powered by battery alone, might require up to 25 kilograms.” Toronto Star.
