Overview
Because the demand for clear applied sciences grows, so too does the demand for high-tech rechargeable batteries used to energy the inexperienced financial system. Nevertheless, america and the European Union’s present dependence on Japan, South Korea and China for 80 % of the world’s battery manufacturing is threatening their auto business. As the most important processor and producer of those battery supplies, China alone can considerably affect pricing and provide chain flows.
The US and the European Union are working to cut back dependence on these international locations and restructure provide chains. Each areas have recognized Canada as a safe and secure supply of sustainable uncooked supplies, akin to lithium, which is essential to the rising electrical car market. Because of this, mining firms with Canada-based tasks that offer supplies wanted for high-tech rechargeable batteries akin to lithium could also be an attention-grabbing alternative for traders to think about.
Worldwide Lithium (TSXV:ILC, OTC:ILHMF, FRA:IAH, OTCQB:ILHMF) is a mineral exploration firm targeted on creating a portfolio of lithium and uncommon metals tasks and royalties in Canada and Eire. The corporate is led by an skilled administration staff with a confirmed observe report of advancing potential tasks with low technical threat in established mining jurisdictions.
Worldwide Lithium delivers shareholder worth by means of undertaking improvement, strategic partnerships and undertaking gross sales. The corporate’s tasks embody the Raleigh Lake and Avalonia tasks.
The corporate’s flagship Raleigh Lake undertaking is an entirely owned and extremely potential lithium, rubidium and caesium undertaking in Ontario. Raleigh Lake spans 48,500 hectares adjoining to the Trans-Canada freeway and CPR railway, simply exterior the city of Ignace, and options promising drill outcomes. Drilling recognized stacked tabular dyke-like our bodies that lightly dip from floor, overlaying an space of 600 meters alongside strike by 400 meters downdip with every dyke having grades akin to the three.78-meter interval grading 1.72 % lithium oxide and a couple of,829 components per million (ppm) rubidium in drill gap RL21-03. Prospecting on newly acquired claims found 20 new pegmatites at floor stage over a number of kilometers.
Pegmatite outcrop found on the White Otter prospect, Raleigh Lake undertaking space.
Worldwide Lithium’s Avalonia undertaking is a three way partnership lithium undertaking situated in Leinster, Eire, spanning 29,200 hectares overlaying a 50-kilometer belt. Drilling on the Avalonia undertaking returned 2.23 % lithium oxide over 23.3 meters together with 3.43 % lithium oxide over 6 meters and 1.50 % lithium oxide over 5.6 meters. The Avalonia undertaking is at the moment beneath an possibility settlement. Worldwide Lithium at the moment owns 45 %.
“Worldwide Lithium. is now in by far the strongest monetary place that it has been since its itemizing in 2011, and we stay up for constructing efficiently on that each at our lithium and rubidium undertaking at Raleigh Lake in Ontario and on our different current and future tasks,” mentioned chairman and CEO John Wisbey.
In October 2021, the corporate offered its share within the Mavis Lake three way partnership lithium and caesium undertaking in Ontario to Crucial Sources Ltd. (ASX:CRR) with proceeds totaling C$1.48 million and a doable additional C$1.38 million linked to useful resource discovery milestones.
The corporate additionally offered its remaining curiosity within the Mariana undertaking in Argentina for US$13.17 million, which has positioned Worldwide Lithium in a robust monetary place to additional enhance its liquidity. In 2021 alone, the corporate raised C$4.9 million in fairness financing.
Worldwide Lithium is at the moment targeted on creating its flagship Raleigh undertaking. As well as, the corporate continues to establish extra properties so as to add to its portfolio.
Firm Highlights
- Worldwide Lithium is creating a portfolio of lithium and uncommon metals tasks and royalties in Canada and Eire, aiming to ship shareholder worth by means of undertaking improvement, strategic partnerships and undertaking gross sales.
- The corporate’s flagship Raleigh Lake undertaking is an entirely owned and extremely potential lithium, rubidium and caesium undertaking in Ontario, Canada.
- The corporate produced its maiden useful resource estimate for lithium and rubidium and is working in direction of a preliminary financial evaluation on Zone 1 of Raleigh Lake,
- Worldwide Lithium’s 29,200-hectare Avalonia undertaking is a three way partnership lithium undertaking situated in a big belt in Leinster, Eire. Drilling on the undertaking returned 2.23 % lithium oxide over 23.3 meters together with 3.43 % lithium oxide over 6.0 meters and 1.50 % lithium oxide over 5.60 meters.
- The corporate is led by an skilled administration staff with a confirmed observe report of advancing potential tasks with low technical threat in established mining jurisdictions.
Key Tasks
Raleigh Lake
Drilling at Raleigh Lake
The flagship Raleigh Lake undertaking is a completely owned lithium, rubidium and caesium undertaking situated instantly west of Ignace in Ontario, Canada. The Raleigh Lake undertaking spans 48,500 hectares and is accessible by way of the Trans-Canada Freeway. The undertaking additionally options entry to the Canadian Pacific railway, pure fuel pipelines and a hydropower line that crosses by means of the property.
Drilling on the property started in April 2021 and returned promising grades of lithium, sizable quantities of rubidium and small quantities of caesium. Drilling recognized mineralization hosted in at the very least 4 important pegmatites and extra noticed in outcrops. Drill outcomes embody 2.80 of lithium oxide over 9.0 meters in addition to 1.05 meters grading 2.69 % lithium oxide from 31.04 meters and 1.18 meters grading 4210 ppm rubidium from 29.86 meters inside a 3.78-meter interval grading 1.72 % lithium oxide and 2829 ppm rubidium.
In 2021, Worldwide Lithium targeted on evaluating the regional potential for added lithium-bearing pegmatites in and across the Raleigh Lake space and, consequently, has expanded the undertaking from 3,000 hectares to greater than 47,700 hectares, based mostly on evaluation of regional geophysical and geological knowledge.
Section 3 of the diamond drilling program, which started in September 2022 at Zone 1 of the Raleigh Lake Lithium undertaking intersected spodumene-bearing pegmatite, demonstrating super continuity of the mineralized physique.
- Section 3 drill highlights
- All Section 3 holes testing Pegmatite 1 in Zone 1 intersected spodumene-bearing pegmatite, demonstrating super continuity of the mineralized physique
- Thicker and higher-grade mineralization intersected nearer to the floor as anticipated.
- Section 1, 2 and three pierce factors have intersected Pegmatite 1 alongside a strike size of over 800 meters and alongside its dip for over 400 meters.
- Pegmatite 1 Spodumene Zone Intersection Highlights*
- RL22-45: 4.85 meters grading 2.06 % lithium oxide in decrease spodumene zone (from 89.5 meters);
- RL22-48: 15.82 meters grading 2.25 % lithium oxide (from 65.56 meters);
- RL22-49: 2.21 meters grading 2.47 % lithium oxide (from 72.69 meters);
- RL22-50: 4.62 meters grading 2.29 % lithium oxide (from 56.12 meters);
- RL22-56: 2.96 meters grading 2.13 % lithium oxide (from 72.42 meters);
- Pegmatite 1 Rubidium-bearing Microcline Intersection Highlights*
- RL22-45: 3.98 meters grading 1.21 % rubidium oxide from 85.52 meters;
- RL22-57: 4.69 meters grading 0.60 % rubidium oxide from 152.51 meters.
Lithium MRE isometric part view trying southwest with lithium grades.
Maiden Mineral Useful resource Estimate for the Raleigh Lake Lithium Mission
Worldwide Lithium filed lithium and rubidium mineral useful resource estimates (MRE) which might be revealed in a associated NI 43-101 Technical Report. The 2 MREs are intently associated on account of their spatial relationships, however their respective useful resource estimates are thought-about separate and distinctive.
This can be a abstract of the lithium MRE for lithium-caesium-tantalum (LCT) pegmatites of the Raleigh Lake pegmatite area. The open pit and underground MREs are constrained by way of optimized pit shell and minable form wireframes, respectively.
An unbiased MRE has been calculated for the rubidium contained inside microcline zones of the LCT pegmatites. Rubidium additionally happens all through the LCT pegmatites throughout the lithium-bearing spodumene at a decrease cutoff however isn’t included on this rubidium MRE. Rubidium reaching grades larger than 4,000 ppm is attributed to pockets of excessive modal abundance of microcline (potassic feldspar). The open pit and underground MREs are constrained by way of optimized pit shell and minable form wireframes, respectively.
Rubidium Open Pit and Underground MRE
Avalonia
Spodumene in boulder at Avalonia
The Avalonia undertaking is a three way partnership lithium undertaking situated in Leinster, Eire. The property spans 29,200 hectares overlaying a 50-kilometer belt with round 29 vital lithium pegmatite occurrences. Drilling on the Avalonia undertaking returned 2.23 % lithium oxide over 23.3 meters together with 3.43 % lithium oxide over 6.0 meters and 1.50 % lithium oxide over 5.60 meters. Nevertheless, some drill outcomes on the property are nonetheless pending.
Worldwide Lithium at the moment owns 45 % of the undertaking whereas Ganfeng Lithium owns 55 %. Ganfeng Lithium has the choice to accumulate 79 % of the undertaking by spending C$10 million for exploration actions by September 2024 or by producing a constructive feasibility examine. If the choice is exercised, Worldwide Lithium will retain 21 % of the Avalonia undertaking which can scale back additional if the corporate doesn’t contribute to the undertaking. Nevertheless, if the corporate’s possession turns into lower than 10 % then its share will convert to a 1 % NSR.
Administration Group
John Wisbey – Chairman and CEO
John Wisbey joined the board of ILC in 2017. After a number of months, he grew to become deputy chairman after which he grew to become chairman and CEO in March 2018. He has personally invested vital funds in ILC since becoming a member of the board and is now ILC’s largest shareholder. He has had a profession as a know-how entrepreneur and can be a former banker. Extra lately, Wisbey was a inexperienced vitality entrepreneur. He based two London AIM-listed firms –– IDOX plc which offers software program for the UK native authorities and Lombard Threat Administration plc which focuses on software program for financial institution threat administration and regulation. He additionally established CONVENDIA Ltd. which is a personal firm that makes a speciality of software program for money circulate forecasting, undertaking valuation and M&A monetary evaluation. Wisbey holds varied non-executive director roles within the UK and Switzerland. He was previously a banker at Kleinwort Benson. At Kleinwort Benson, he held varied roles, together with a director within the derivatives group, head of choices and company lending. Wisbey has acted as a public firm chairman, CEO, or director for twenty years. He’s a graduate of Cambridge College.
Maurice Brooks – Director and CFO
Maurice Brooks joined the board of ILC in 2017. He’s a licensed senior statutory auditor within the UK. Since 2000, he has been a senior associate at Johnson Smith & Co. in Staines, Surrey. Earlier than that, Brooks was a senior associate in Johnsons Chartered Accountants within the London Borough of Ealing. His industrial and funding expertise contains govt directorships in manufacturing and an funding accountant position to the superannuation fund of the Western Australian state authorities. His early skilled employment contains Ball Baker Leake LLP and LLC and Worth Waterhouse Coopers-UK.
Anthony Kovacs – Director and COO
Anthony Kovacs joined the board of ILC in 2018 and has labored with the corporate since 2012. He has over 25 years of expertise in mineral exploration and improvement. Earlier than becoming a member of ILC, he held senior administration roles through which he sourced and superior iron ore and industrial minerals tasks. Kovacs was concerned in early-stage work on the Lac Otelnuk Iron Ore undertaking in Quebec, Canada and the Mustavaara Vanadium Mine in Finland. Earlier than that, Kovacs labored for Anglo American the place he targeted on Ni-Cu-PGE and IOCG tasks. At Anglo-American, Kovacs was immediately concerned in a number of discoveries internationally. Kovacs has vital expertise with industrial minerals, ferrous metals, non-ferrous metals and treasured metals tasks all through the Americas, Europe and Africa.
Ross Thompson – Non-Govt Director
Ross Thompson joined the board of ILC in 2017 and is the chair of the audit and remuneration committees. He’s a speaker and knowledgeable in advertising behavioral science. In 1995, he based Giftpoint Ltd. which is now one of many largest specialist promotional merchandise companies within the UK. with workplaces in London and Shanghai. Giftpoint Ltd.’s purchasers embody L’Oreal, Oracle, Ocado and Pernod Ricard amongst others. Thompson was president of IGC International Promotions, one of many world’s oldest and largest international networks of premium resellers, for seven years. He’s an energetic investor with a particular curiosity and understanding of pure assets companies.
