Monday 18th June 2018

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Posts tagged ‘nevada’

Preparations move Belmont Resources toward Nevada lithium drilling

May 23rd, 2018

by Greg Klein | May 23, 2018

With approval now in from the U.S. Bureau of Land Management, Belmont Resources TSXV:BEA comes closer to activating a rig on its Kibby Basin lithium project. The next step calls for an application with the Nevada Division of Minerals to carry out exploration drilling, sample soils and groundwater, and install a water well to test flow rates for any aquifers that are encountered.

Preparations move Belmont Resources toward Nevada lithium drilling

This year’s magnetotelluric geophysical program helped identify
drill targets for Belmont Resources’ Kibby Basin lithium project.

“This is an important step in the progress of our assessment of the potential brines below the Kibby property,” stated president/CEO James Place. “The proposal submitted to the BLM was for work of a significant scope, including water well installation and monitoring, so the quick approval is a sign that the federal regulators are satisfied with the details of our plans.”

Located 65 kilometres north of Clayton Valley, the 2,760-hectare property underwent deep-sensing magnetotelluric geophysics earlier this year, finding a conductive zone that starts at about 500 metres in depth. The program followed last year’s initial drill campaign that sunk two holes totalling 624 metres. Core samples graded between 70 ppm and 200 ppm Li2O, with 13 of 25 samples surpassing 100 ppm.

Last week Belmont announced the appointment of Ian Graham to the company’s advisory board. A former principal geologist with De Beers’ South African division, he also spent 15 years with Rio Tinto NYSE:RIO where he took part in evaluation and pre-development projects including the Diavik diamond mine in the Northwest Territories and the Resolution copper deposit in Arizona. He also oversaw permitting for the Eagle nickel mine in Michigan and played a key role in the initial economic assessment for the Bunder diamond project in India. More recently Graham served as CEO of United Energy Corp, which held a Nevada lithium project.

Belmont also holds the Mid-Corner/Johnson Croft property in New Brunswick, where historic, non-43-101 sampling has shown zinc, copper and cobalt potential. In Saskatchewan the company shares a 50/50 interest with International Montoro Resources TSXV:IMT in the Crackingstone and Orbit Lake uranium properties.

Last month Belmont closed the final tranche of a private placement totalling $198,000.

Read Isabel Belger’s interview with Belmont CFO/director Gary Musil.

Visual Capitalist: Elon Musk’s vision for the future of Tesla

April 26th, 2018

by Jeff Desjardins | posted with permission of Visual Capitalist | April 26, 2018

Tesla is currently stuck in “production hell” with Model 3 delays, as Elon Musk describes it.

But Winston Churchill had a great quote about facing what seems like insurmountable adversity: “If you’re going through hell, keep going.” This is certainly a maxim that Musk and Tesla will need to live by in order to realize the company’s longstanding mission, which is to accelerate the world’s transition to sustainable energy.

This giant infographic comes to us from Global Energy Metals TSXV:GEMC and it is the final part of our three-part Rise of Tesla series, which is a definitive source for everything you ever wanted to know about the company.

Part 3 shows Musk’s future vision and what it holds for the company once it can get past current production issues.

See Part 1. See Part 2.

 

Visual Capitalist: Elon Musk’s vision for the future of Tesla=

 

To understand Tesla’s ambitions for the future, you need to know two things:

1. Tesla’s mission statement: “To accelerate the world’s transition to sustainable energy.”

Tesla can accomplish this by making electric vehicles, batteries and energy solutions—and by finding ways to seamlessly integrate them.

2. Tesla’s strategy: “The competitive strength of Tesla long-term is not going to be the car, it’s going to be the factory.”

Tesla aims to productize the factory so that vehicle assembly can be automated at a revolutionary pace. In other words, Tesla wants to perfect the making of the “machine that builds the machine.” It wants to use these factories to pump out EVs at a pace never before seen. It aims to change the world.

The future of Tesla

If Musk has his way and everything goes according to plan, this is how the future of Tesla will unfold. Note: Keep in mind that Tesla sometimes overpromises and that the following is an extrapolation of Tesla’s vision and announced plans as of spring 2018.

A sustainable energy powerhouse

Tesla’s goal is to accelerate the world’s transition to sustainable energy—but simply making a few electric cars is not going to be enough to put a dent into this. That’s why the future of Tesla will be defined by bigger and bolder moves:

The Tesla Semi: Tesla has unveiled the Tesla Semi, which can go 0 to 60 mph with 80,000 pounds (36 tonnes) in just 20 seconds. Fully electric and with a 200-kWh battery pack, Musk says, it would be “economic suicide” for trucking companies to continue driving diesel trucks.

Mass transit: Musk said in his Master Plan, Part Deux blog post that he wants to design “high passenger-density urban transport.” It’s anticipated that this will come in the form of an autonomous minibus, built off the Model X concept.

A new energy paradigm: Tesla is not just building cars—it’s democratizing green energy by creating a self-dependent ecosystem of products. This way, homeowners can ensure their appliances and cars are running off of green energy, and even sell it back to the grid if they like.

As Tesla works on this sustainable future, the company isn’t afraid to show off its battery tech in the interim. The company even built the world’s largest lithium-ion battery farm (100 MW) in South Australia, to win a bet, in fewer than 100 days.

Other new models

Musk says that Tesla plans to “address all major segments” of the auto market.

Model Y: This will be a crossover vehicle built on the Model 3 platform, expected to go into production in 2019. It will round out the “S3XY” product line of Tesla’s first four post-Roadster vehicles.

Pickup truck: This will be Tesla’s priority after the Model Y and Musk says he is “dying to build it.” Musk says it’ll be the same size as a Ford F-150 or bigger to account for a “game-changing” feature he wants to add, but has not yet revealed.

Ultra low-cost model: Tesla has also announced that it will need a model cheaper than the Model 3 in the near future. This would allow Tesla to compete against a much wider segment of the auto market, and the future of Tesla hinges on its success.

Multiple Gigafactories

Tesla already has two: Gigafactory I in Reno, Nevada (batteries) and Gigafactory II in Buffalo, New York (solar panels).

The Gigafactory I started battery cell production in 2017. It will eventually produce enough batteries to power 500,000 cars per year. Meanwhile, the second factory is operated by Tesla’s SolarCity subsidiary, producing photovoltaic modules for solar panels and solar shingles for Tesla’s solar roof product.

Tesla said in 2017 that there will be “probably four” more battery Gigafactories in locations that would “address a global market,” including one in Europe. This makes sense, since the need for lithium-ion batteries to power these EVs is exploding. An important component of Tesla’s future will also be sourcing the raw materials needed for these Gigafactories, such as cobalt, lithium, graphite and nickel.

The Chinese market

The good news: Tesla already owns about 81% of the market for imported plug-in EVs in China.

The bad news: That’s only about 2.5% of the total Chinese EV market, when accounting for domestically made EVs.

China is the largest auto market in the world—and make no mistake about it, Tesla wants to own a large chunk of it. In 2017, China accounted for 24.7 million passenger vehicle sales, amounting to 31% of the global auto market.

Automation and the sharing economy

Finally, Tesla wants its vehicles to be fully autonomous and to have shared fleets that drive around to transport people.

Autonomous: Tesla aims to develop a self-driving capability that is 10 times safer than manual via massive fleet learning.

Shared: Most cars are used only by their owners and only for 5% of each day. With self-driving cars, a car can reach its true potential utility by being shared between multiple users.

Conclusion

The future of Tesla is ambitious and the company’s strategy is even considered naïve by some. But if Musk and Tesla are able to perfect building the “machine that builds the machine,” all bets will be off.

That concludes our three-part Rise of Tesla series. Don’t forget to see Part 1 (Origin story) and Part 2 (Rapid Growth). Special thanks to Global Energy Metals for making this series possible.

Posted with permission of Visual Capitalist.

Belmont Resources readies drill targets, selective extraction for Nevada lithium

April 6th, 2018

by Greg Klein | April 6, 2018

Supported by a successful financing and encouraging geophysical and drill results, Belmont Resources TSXV:BEA prepares to advance its Kibby Basin lithium project on two fronts. The company now plans to sink up to five holes on the 2,760-hectare Nevada property while continuing lithium extraction discussions with other companies that have requested samples.

Belmont Resources readies drill targets, selective extraction for Nevada lithium

A Quantec Geoscience crew member sets induction
coil for this year’s Spartan Magnetotelluric survey.

The drill campaign would be Kibby Basin’s second, following two holes from last year. Core samples graded between 70 ppm and 200 ppm Li2O. Thirteen of 25 samples surpassed 100 ppm, “indicating that the sediments could be a potential source of lithium for the underlying aquifers,” the company stated.

Since then a magnetotelluric survey covered some 36 square kilometres, adding geophysical detail to a 2016 gravity survey and showing a conductive zone that starts about 500 metres in depth.

Backing the campaign will be fresh financing. The second tranche of private placements totalling $198,000 closed this month.

In New Brunswick last November, Belmont acquired the Mid-Corner/Johnson Croft property, where historic, non-43-101 sampling showed prospectivity for zinc, copper and cobalt. Along with International Montoro Resources TSXV:IMT, Belmont shares a 50/50 interest in two Saskatchewan uranium properties, Crackingstone and Orbit Lake.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Deep-sensing geophysics precedes Belmont Resources’ Nevada lithium drilling

March 2nd, 2018

by Greg Klein | March 2, 2018

Recently received geophysical results will help Belmont Resources TSXV:BEA select drill targets for its Kibby Basin lithium property in Nevada. Described as a “full tensor magnetotelluric technology that acquires resistivity data in the 10 kHz to 0.001 Hz frequency band,” the survey covered about 36 square kilometres to depths of three kilometres over a playa basin and some adjoining turf.

Deep-sensing geophysics precedes Belmont Resources’ Nevada lithium drilling

Located 65 kilometres from Clayton Valley, Belmont Resources’
Kibby Basin project advances towards Phase II drilling.

While a 2016 gravity survey suggested the presence of a basin about 4,000 metres deep, the new results “clearly map a more conductive zone beginning at approximately 500 metres’ depth,” Belmont stated. Targets for a 2018 drill program on the 2,760-hectare property are being considered where potential brine contacts are closest to the playa surface, the company added.

Core samples from last year’s two-hole, 624-metre campaign assayed between 70 ppm and 200 ppm Li2O, with 13 of 25 samples exceeding 100 ppm.

A November acquisition added the Mid Corner-Johnson Croft zinc-cobalt prospect in New Brunswick to Belmont’s portfolio. Belmont also holds a 50% interest in two Saskatchewan uranium properties.

This week the company offered an amended private placement of up to $100,000, following an oversubscribed financing that closed on $312,000 in December.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Deep-penetrating geophysics to probe Belmont Resources’ Nevada lithium project

January 17th, 2018

by Greg Klein | January 17, 2018

Now being mobilized, an electromagnetic survey will help target brine aquifers on Belmont Resources’ (TSXV:BEA) Kibby Basin property. The company describes Quantec Geoscience’s Spartan AMT/MT method as “a full tensor magnetotelluric technology that acquires resistivity data in the 10 kHz to 0.001 Hz frequency band. The result is a measurement that is applicable from near-surface to potential depths of three kilometres or more.” Belmont credits Quantec with over 5,000 geophysical programs in over 50 countries.

Deep-penetrating geophysics to probe Belmont Resources’ Nevada lithium project

Two holes sunk on Kibby Basin last year brought
core samples between 70 ppm and 200 ppm lithium.

The Kibby Basin survey should take nine days, with another two weeks for an initial report.

The program follows a satellite data review and two-hole 2017 drill campaign on the 2,760-hectare Nevada property 65 kilometres north of Clayton Valley. Thirteen of 25 core samples surpassed 100 ppm lithium, “indicating that the sediments could be a potential source of lithium for the underlying aquifers,” the company stated.

A gravity survey the previous year suggested the property hosts a closed basin which the company later estimated to cover four square kilometres, extending to at least 1.5 kilometres in depth.

Last week Belmont announced its lawyers would request the annulment of a decision by the International Centre For Settlement Of Investment Disputes reported in August. The tribunal stated it had no jurisdiction in a dispute involving Belmont, EuroGas Inc and the Slovak Republic regarding Rozmin SRO’s ownership of the Gemerska Poloma talc deposit. Belmont seeks to be restored as a claimant in the arbitration proceedings.

The company also holds the Mid Corner-Johnson Croft property in New Brunswick, a prospect with some historic, non-43-101 zinc-copper-cobalt sampling results that has yet to undergo modern geophysics.

In northern Saskatchewan, Belmont and International Montoro Resources TSXV:IMT share a 50/50 stake in the Crackingstone and Orbit Lake uranium properties.

Belmont closed an oversubscribed private placement of $312,200 in December.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Satellite imagery helps Belmont Resources home in on Nevada lithium targets

December 14th, 2017

by Greg Klein | December 14, 2017

Thanks to NASA and the U.S. Geological Survey, archived satellite data sharpens the focus on Belmont Resources’ (TSXV:BEA) Kibby Basin lithium project in Nevada. The company now has geophysics and other work planned for a busy new year.

Satellite imagery helps Belmont Resources home in on Nevada lithium targets

The satellite info shows hydrothermal indicator minerals over about one square kilometre of the 2,760-hectare property, CEO/president Vojtech Agyagos stated. “This area hosted the highest lithium surface samples as well and is the site of our proposed third drill hole. Our 2017 drill program discovered both water (fresh) and up to 200 ppm lithium in the core in the eastern side of the property about two kilometres from these thermal alterations.”

Drill results released last June showed clay-rich core samples grading between 70 ppm and 200 ppm lithium, “with 13 of 25 core samples assaying over 100 ppm lithium, indicating that the sediments could be a potential source of lithium for the underlying aquifers,” Belmont announced at the time.

Agyagos added that the satellite-revealed geothermal alteration “sits above the deepest gravity-indicated area from Belmont’s 2016 Wright geophysical ground gravity survey.”

Results from that survey suggest a basin model about 4,000 metres deep with similarities to Clayton Valley, host to Albemarle Corp’s (NYSE:ALB) Silver Peak lithium mine.

Belmont’s next plans call for a number of surveys including magnetotelluric, vertical electrical sounding, geothermal probe, electromagnetic resistivity and possibly seismic to help identify lithium brine drill targets. The company expects to finish EM work in early January.

Along with International Montoro Resources TSXV:IMT, Belmont holds a 50/50 stake in two northern Saskatchewan uranium properties, Crackingstone and Orbit Lake, for which the companies seek JV partners.

In New Brunswick last month, Belmont acquired the Mid Corner-Johnson Croft zinc-copper property, which shows promising historic sampling results but has yet to undergo modern geophysics.

Last week the company closed an oversubscribed private placement of $312,200.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Belmont Resources adds New Brunswick zinc-copper to Nevada lithium

November 23rd, 2017

by Greg Klein | November 23, 2017

Today’s geophysics can “see” what older technology missed, opening up new opportunities in exploration. That’s partly what attracted Belmont Resources TSXV:BEA to its new acquisition, the Mid Corner-Johnson Croft zinc-copper prospect in New Brunswick. While powerlines interfered with 1960s-era geophysics, the company expects accurate results from modern ground electromagnetic and/or gravity surveys.

Belmont Resources adds New Brunswick zinc-copper to Nevada lithium

A single sample of breccia taken in 1970 brought historic, non-43-101 assays of 0.96% cobalt and 16.04% zinc, along with silver, cadmium, copper and lead. A few 1990s samples included non-43-101 results of 1.66% zinc, 2% zinc and 1.04% zinc, with some gold, silver, copper, lead and cadmium.

The 700-hectare property has paved road access as well as the transmission line.

Belmont plans to review all historic data prior to field work that would begin next year. Meanwhile the company remains focused on its Kibby Basin lithium project in Nevada, 65 kilometres north of Clayton Valley. Belmont plans EM, vertical electrical sounding and/or geothermal probe surveys to identify targets for the flagship’s next phase of drilling.

The New Brunswick acquisition costs Belmont two million shares and $10,000 over one year. The company may buy back a 1% NSR out of an existing 2.5% NSR.

Belmont also announced its intention to apply for a TSXV price waiver for a proposed private placement of up to $300,000.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Gary Musil of Belmont Resources comments on lithium exploration in the U.S.

August 11th, 2017

…Read more

Nevada’s new-era fuel

July 7th, 2017

Gary Musil sees Clayton Valley similarities in Belmont Resources’ Kibby Basin lithium project

by Isabel Belger

Isabel Belger

Isabel Belger

Isabel: I would like to introduce Gary Musil, CFO and director of Belmont Resources TSXV:BEA. Hi Gary, it is a pleasure to talk to you again.

Gary: Likewise, always a pleasure to talk to you.

Isabel: To get started, tell us a little bit about your background and how you got involved with Belmont Resources.

Gary: Belmont was a client of mine, and in 1992 they asked me to get more involved by joining the board of directors and later as a full-time chief financial officer in 1999.

Isabel: Belmont Resources has two different locations that you are involved with. Could you tell us a bit more about these two?

Gary: Belmont holds 50% interest in a large uranium land package (12,841 hectares) in the northern Athabasca Basin near Uranium City, Saskatchewan, Canada. Approximately $2 million was incurred on the claims from magnetic, radiometric, electromagnetic and radon gas surveys through to a successful 20-hole diamond drill program totalling 3,075 metres. The project is available for a joint venture partner or acquisition. Belmont’s current focus is on its 2,760-hectare Kibby Basin-Monte Cristo Valley, Nevada lithium project.

Isabel: So your focus is on the Kibby Basin lithium project. What makes that project so appealing?

Gary: The demand and price of lithium continues to increase as we move into a new era of electric vehicles and other technology that is requiring lithium. In addition, we are near the construction of a large facility, the Tesla Motors Gigafactory #1, near Sparks, Nevada, which will be a huge consumer of the end product. Secondly, expansion of a large electric bus factory in California to the south will also see increased consumption of lithium production for batteries. Furthermore, our Kibby Basin hosts several key features that are similar to the nearby and only operating lithium mine in North America, the area at Silver Peak-Clayton Valley, Nevada.

Gary Musil sees Clayton Valley similarities in Belmont Resources’ Kibby Basin lithium project

Lithium assays from last spring’s campaign have
Belmont Resources returning for additional geophysics and drilling.

Isabel: What is the most exciting thing about the Kibby Basin property up to now—what work have you accomplished there?

Gary: We commenced last year with all the baseline work, such as a NI 43-101 geological technical report, followed by a ground geophysical survey and then a detailed gravity survey to map the central basin. This generated a 3D model of the basin which provided the coverage to enhance the potential of the Kibby Basin to host a lithium-bearing brine structure.

The basin model revealed the basin to be in the order of 4,000 metres deep and approximately 7.4 kilometres long. In June Belmont drilled two diamond drill core holes, KB-1c to 548 feet [167 metres] on the eastern basin-bounding fault and KB-2c to a depth of 1,498 feet [457 metres] in the playa-dry lake bed, in the area.

The company was pleased with the core sample assays, to discover the presence of lithium ranging from 70 ppm to 200 ppm lithium with 13 of 25 core samples assaying over 100 ppm lithium, indicating that the sediments could be a potential source of lithium for the underlying aquifers.

Isabel: What are your experiences working in the U.S.A.? It is known that a lot of lithium comes from China and we’ve heard Donald Trump wants to “make America great again.” Has there been any changes in regard to working on a project that could produce lithium in the U.S.A.?

Gary: Belmont’s original mineral project, going back over 30 years ago, was a joint venture in a silver-producing mine in Nevada. We usually contract out work, i.e. geologists, geophysics work, surveys, drilling contractors, etc., to local reputable contractors. This saves costs and develops a good working relationship with the state and county officials. Any changes from the federal and state governments in regards to working on a project that could produce lithium in the U.S.A. should be positive for Belmont Resources. We anticipate governments could add incentives to mining exploration and producing companies to encourage them to expand the mineral resources and sell the end products to factories being built in Nevada, rather than importing lithium and other minerals from foreign countries.

Gary Musil sees Clayton Valley similarities in Belmont Resources’ Kibby Basin lithium project

Thirteen of 25 Kibby Basin core
samples surpassed 100 ppm lithium.

Isabel: What are the plans for the rest of 2017?

Gary: Belmont’s next stage of evaluation will consist of carrying out a further geophysical survey, i.e. electromagnetic resistivity survey and possibly seismic surveys, of the property, which should generate higher aquifer probability targets for further drilling this year.

Isabel: How much money do you have in the bank right now?

Gary: Belmont recently completed a four-million-unit private placement at $0.05 per share complete with a two-year transferable warrant (eight-cent warrant in year one and 10-cent warrant in year two) which generated $200,000. We will continue to raise further financing in order to continue exploration of the Kibby Basin throughout the year.

Isabel: How much of Belmont Resources is held by the management?

Gary: Belmont’s management currently owns 5.5% of the issued and outstanding shares and is increasing its position as demonstrated in participation in the recently completed private placements, as well as exercising of warrant and stock option shares. Including friends, relatives and close associates, these holdings increase to over 25%.

Isabel: What do you like about the mineral exploration business?

Gary: The anticipation of drilling results and then the discovery of minerals in a new area is always exciting. Also, travelling to new areas of the world and meeting new people there.

Isabel: What is your favourite commodity and why?

Gary: Belmont has explored for silver, antimony, gold, uranium, as well as oil and gas. Lithium will be my favourite for years to come, as I see the uses of this commodity expanding, as technology continues to develop and expand along with it.

Gary Musil sees Clayton Valley similarities in Belmont Resources’ Kibby Basin lithium project

Gary Musil, CFO/director
of Belmont Resources

Fun facts

Your hobbies: Golf, cycling, hiking

Sources of news you use: Canadian Broadcasting Corporation (CBC) and CNN through TV and the Vancouver Sun/Financial Post newspapers

Your favourite airport: Vancouver International Airport and Phoenix, Arizona, as that usually means a golf vacation during the winter months

Your favourite tradeshow: Outdoor Recreation and Golf Show in Vancouver

Favourite commodity besides the ones in your company: Gold, especially placer gold

People you’d most like to have dinner with: Ha—Fred Couples, senior professional golfer; So Yeon Ryu, ladies’ professional golfer; Shania Twain, country music star; and of course having dinner with my wife in many new places in the world where we have been and not been to yet

If you could have a superpower, it would be: Healing

Equitorial Exploration to drill for NWT lithium

June 28th, 2017

by Greg Klein | June 28, 2017

The rig returns to a Northwest Territories hardrock lithium project for the first time in a decade as Equitorial Exploration TSXV:EXX heads to the field in July. About 30 kilometres from the former Cantung tungsten mine in the territory’s southwest, the Little Nahanni Pegmatite Group project will also undergo mapping, channel sampling and resampling of drill core from 2007 when two holes struck intervals of 1.2% Li2O over 10.94 metres and 0.92% over 18.27 metres.

Equitorial Exploration to drill for NWT lithium

Red paint marks a channel sample
interval from last year’s field work at LNPG.

Summer drilling will test the vertical extent of lithium-cesium-tantalum-type pegmatite dyke swarms now identified at about 300 metres in depth and 13 kilometres in strike. The dykes are well exposed on cirque walls of the mountainous terrain, the company stated.

Channel sampling last year brought assays up to 1.13% Li2O, 71.1 g/t Ta2O5 and 0.03% SnO2 over 10.35 metres. That included a sub-interval of 1.86% Li2O, 116.7 g/t Ta2O5 and 0.05% SnO2 over 6.3 metres.

Three specimen samples released in October brought results up to 2.85% Li2O, 28.1 g/t Ta2O5 and 0.05% SnO2.

Equitorial filed a 43-101 technical report on the LNPG project in March.

In Utah last May, the company staked another 1,092 hectares, expanding its Tule Valley lithium project to about 2,792 hectares. That gives Equitorial the entire Tule Valley Basin, which the company describes as a closed basin which could be similar to Nevada’s Clayton Valley. Equitorial also sees Clayton Valley similarities in the company’s Gerlach property in Nevada.