As the global market in electric cars has blossomed in the last few years, driven by pioneering work of Elon Musk, founder of Tesla cars, the price of lithium has gone up and up - trebling in just 18 months.Overall, this one market for the element is expected to quadruple to $70billion by 2020.
$URRE
Lithium Projects Overview
We have identified lithium exploration and development projects that leverage our hydrogeological, well field engineering and hydrometallurgical expertise in the Western United States. This expands and diversifies our portfolio of assets for a geopolitically balanced and complementary energy metals business to build shareholder value.
In the second half of 2016, the Company identified and acquired two high potential lithium brine exploration projects:
The Columbus Basin Project in western Nevada, near the only producing lithium mine in the United States, and
The Sal Rica Project in northwestern Utah
With large battery manufacturing facilities, such as Tesla’s “Gigafactory” near Reno, Nevada and Faraday Motor Works’ proposed manufacturing facility near Las Vegas, Nevada, our Sal Rica and Columbus Basin projects are at the epicenter of lithium brine development, production and consumption in the United States.
Our corporate goal is to produce a JORC-compliant lithium mineral resource estimate for either Columbus Basin Project or the Sal Rica Project in 2018.
