The Conversation (0)
Winsome Further Expands Lithium Exploration Footprint in Quebec
Highlights:
- Exclusive option agreement executed for Winsome to acquire and explore a further 259 claims, totalling 149 km2 in the highly sought after greater Decelles region of Quebec, Canada
- Option agreement expands Winsome’s lithium exploration footprint in Quebec, enlarging Company’s recently acquired Decelles claim area by nearly 40%
- This expanded area, known as Mazérac, is located around the Decelles Reservoir, about 50km southwest of Val-d’Or and easily accessible by a network of forestry roads
- The region has seen much recent staking and prospecting activity, including highgrade spodumene discoveries by Vision Lithium at their nearby Cadillac property1
- Enlarged property holding is highly complementary to Company’s 100% owned, existing projects in the James Bay region – Cancet, Adina and Sirmac-Clapier
The Company has entered into an exclusive option agreement to acquire 258 claims from Mr Glenn Griesbach and one claim from Mr de Keyser, totalling 149km2 in the prospective Mazérac region of Quebec, Canada. This is within the greater Decelles area, where the Company also acquired new property in January 20222 .
Mazérac is located close to the mining centres of Val-d’Or and Rouyn-Noranda, approximately 600km from Montreal. The Company has signed an exclusive option agreement to explore and subsequently acquire the claims over a 24-month period.
Mr Griesbach is a Canadian-certified geologist with more than 40 years of mineral exploration experience across Canada, Africa, China, and Southeast Asia. Mr de Keyser is a seasoned local prospector of First Nation heritage, with a strong understanding of the Mazérac region.
By entering into this agreement, the Company further expands its land holding in Quebec, exploring a new area of the province known for granitic and pegmatitic outcrops. The area is located close to infrastructure and the major mining centres immediately adjacent to recent lithium discoveries1 (see Figure 1 map)
Managing Director Chris Evans said:
“We are delighted to have entered into the option agreement for a further 259 claims at Mazérac in the Decelles region. There has been a considerable amount of recent lithium focused activity in the surrounding region, with several public and private companies making successful discoveries.
“By acquiring this project, we significantly increase the Company’s prospective lithium landholding in Quebec and continue towards achieving our vision of supplying high grade lithium products into the North American battery supply chain.”
Transaction details
Winsome has entered into an exclusive option agreement to acquire 259 claims from Mr Griesbach under the following broad terms:
- An upfront fee of AUD$75,000, paid in WR1 shares
- AUD $250,000 paid in three tranches of WR1 shares, based on the five-day VWAP from last week’s trading (AUS $0.47). This will equate to:
- 177,000 WR1 shares issued now
- 177,000 WR1 shares issued on 3 May 2023
- 177,000 WR1 shares issued on 3 May 2024
- A 2% Net Smelter Royalty (NSR) over the properties which can be reduced to 1% at any time for a consideration of AUD $1,000,000
Once the final payment of 175,000 WR1 shares is made on 3 May 2024, the 259 claims will transfer to Winsome’s Canadian subsidiary.
The Company also has the ability to accelerate the acquisition at any point within the next 24 months and have the claims transferred immediately by issuing all shares due to Mr Griesbach.
As a separate transaction, the Company paid Mr de Keyser CAD $20,000 to acquire outright the ‘Nippy Hill’ claim which is contiguous to the other Mazérac claims described above.
Click here for the full ASX Release
This article includes content from Winsome Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Forward Water Technologies
Overview
Forward Water Technologies (TSXV:FWTC) is helping lithium mining companies and other industries reduce their environmental impact through its innovative wastewater treatment technology that enables industrial operations to reduce liquid waste volume by up to 95 percent.
Environmental, social and governance (ESG) ratings continue to be a key business strategy for organizations as they impact public perception and partnership possibilities. For water-intensive industries, such as mining, sustainable wastewater management is critical.
Transformative wastewater technologies are critical for both businesses and the world’s population. In fact, unless sufficient progress is achieved, UNICEF and WHO estimate that 1.6 billion people will be without access to safe drinking water by 2030, and 2.8 billion will be without access to safe sanitation and hygiene. Water treatment technologies can disrupt current trends and improve global access to safe drinking water.
Through its Forward Osmosis (FO) technology, Forward Water is providing an environmentally friendly alternative to traditional wastewater disposal. Traditionally, wastewater disposal requires transporting untreated wastewater for deep well disposal or high-intensity thermal treatment.
Forward Water’s FO system is installed at the client site, and wastewater is treated to reduce waste volume and produce valuable clean water for reuse in the manufacturing process. Then, the significantly reduced volume of wastewater is transported and disposed of, significantly saving on transportation and disposal costs.
The FO technology targets three massive sectors: industrial wastewater, mining and food manufacturing. Forward Water’s unique and patented FO technology achieves high-rate water extraction within a low-energy continuous process. The process reduces waste and allows up to 95 percent water recovery, ready for reuse.
Forward Water’s Li-FO™ technology is ideal for lithium-brine mining operations, allowing mines to “fine tune” brine sources to improve concentration by up to 20 times. This results in improved recovery and makes lower-concentration brines economically viable. Forward Water is currently embarking on an early development testing project to further evaluate and refine the technology’s viability in lithium mining.
In 2023, the company’s wholly owned subsidiary, Forward Water Technologies Inc., licensed specific intellectual property from FUJIFILM Corporation to solidify the protection of its water treatment technology platform.
CleanTech Lithium (AIM:CTL,Frankfurt:T2N,OTC:CTLHF) has contracted FWT to provide advisory services for the support and development of CleanTech Lithium's direct lithium extraction (DLE) process in Chile. The collaboration will use FWT’s industrial forward osmosis system in the hyper-concentrating of CleanTech Lithium's eluate and its conversion into battery-grade lithium carbonate through Conductive Energy's DLE process.
Howie Honeyman, CEO, explained in an interview how the company’s technology can improve lithium mining operations. “A lot of lithium being mined today around the world is coming from underground aquifers that store the lithium brine. The challenge is that the lithium is surrounded by other minerals and salts, requiring chemical ‘tweezers’ to pluck out that lithium. What we can do is, at multiple places in that process, we can concentrate that lithium-containing water stream, which makes it far easier for these miners to handle the volumes they need to extract that lithium.”
An experienced management team with technical expertise leads the company towards further refining and deploying its technology. The team includes experts in materials science, chemistry and engineering. Additional experts in corporate administration and financing round out the leadership team to lead the company toward its goals.
Company Highlights
- Forward Water Technologies has developed a patented wastewater treatment technology that reduces wastewater volume and improves reusability across multiple industries, including mining and food manufacturing.
- The company’s Forward Osmosis (FO) technology disrupts the traditional method of wastewater disposal by reducing the amount of waste that must be transported and disposed of, directly reducing costs.
- The FO technology also improves water reusability by up to 95 percent, reducing the expense of importing water for industrial processes.
- The Forward Water Technologies Li-FO™ process is applicable in the lithium mining sector by improving concentration by up to 20 times, allowing organizations to improve extraction efficiency.
- The company has partnered with a lithium-brine extraction operation to evaluate its Li-FO™ technology.
- Forward Water Technologies is in early negotiations to deliver an FWTC forward osmosis pilot system on-site in Chile to support a customer's lithium extraction process.
- Forward Water Technologies has licensed specific intellectual property from FUJIFILM Corporation to solidify the protection of its water treatment technology platform.
- The company has been contracted by CleanTech Lithium to provide advisory services for the support and development of CleanTech Lithium's direct lithium extraction processes in Chile.
- An experienced management team with a blend of relevant technical expertise leads the company toward refining and marketing its technology.
Key Project
Forward Osmosis Water Treatment
Forward Osmosis is a naturally occurring process in which water is spontaneously drawn across a membrane when one solution is higher in salt concentration than the other. The difference in salinity, known as the osmotic gradient, creates a low-energy water treatment process.
Forward Water Technologies has leveraged the naturally occurring process to innovate its patented, three-step FO technology, enabling a 95 percent wastewater reduction and 95 percent water recovery.
Project Highlights:
- Patented Three-Step Process: Forward Water Technologies FO process achieves low-energy and high-rate water extraction with a unique three-step design:
- Water Extraction: Water is drawn across the FO membrane into a salt draw solution. The combination of the patented draw solution and unique membrane “locks” the draw solution on one side of the membrane, creating a true closed-loop process.
- Water/Salt Separation: Next, a switchable water salt (SWS) achieves water/salt separation as low-grade heat is applied, and it phases from liquid to gas. As the gas leaves the solution, clean water is left behind. The energy necessary for this step is often found in many facilities in the form of waste heat.
- Salt Draw Reconcentration: Finally, as the gas leaves the solution, it is captured within the closed-loop system and is passively cooled, causing it to phase back into liquid form as an SWS. The SWS liquid is collected and recycled back to the front of the membranes in the water extraction step, creating a continuous process.
- Widely Applicable Water Treatment: The low-energy process allows organizations across several industries to improve water reclamation and reduce wastewater by up to 95 percent. Additionally, the process allows for up to 20 times concentration, making the process amenable to lithium-brine extraction and other potential applications.
- Significant Cost Savings: The primary value proposition for the FO process is cost reduction in wastewater transportation and disposal. With the process in place, more water is reclaimed for reuse in manufacturing, which reduces the raw volume of wastewater that must be transported and disposed of.
Management Team
Howie Honeyman - Chief Executive Officer and President
Dr. Howie Honeyman has 20 years of experience commercializing new technologies at Xerox, Cabot, E Ink, Natrix Separations and as former CTO of GreenCentre Canada. Honeyman commercialized high-capacity, high-throughput membranes for bioprocessing as SVP of Natrix Separations, which has since been acquired by Millipore-Sigma. Since 2015, Honeyman has been leading Forward Water to become a premier wastewater treatment solution. Honeyman is also an inventor of record on over 50 US patents and holds a PhD in chemistry from the University of Toronto.
Michael Willetts - Chief Financial Officer
Michael Willetts has over 25 years in financial leadership roles primarily in manufacturing, from large multinational businesses to startups, both public and private. He previously worked as an engineer in the automotive industry before entering into finance at Ford Motor Company. Willets went on to progressively larger finance roles in several international automotive suppliers (Textron, GKN, DSM) and Canadian manufacturers (Armtec, Stronach International, AirBoss of America). Willetts is currently providing fractional CFO services through WD Numeric Corporate Services in the manufacturing, SaaS and cannabis industries. Willetts graduated with a BASc, BComm and MBA from the University of Windsor.
Wayne Maddever - Chief Operating Officer
Dr. Wayne Maddever received his Ph.D. in materials science engineering from the University of Toronto. Since 1985, he has held senior executive management positions with technically based businesses in start-up, turnaround or acquisition situations where his skills in change management have brought considerable success in the commercialization of new technologies. His experience in both private and public companies, domestically and internationally, spans a broad variety of industries, including bio and advanced materials, precision manufacturing, recycling, waste-to-energy and medical devices. He holds a number of patents in several fields. He is a fellow of the Canadian Academy of Engineering. In addition to his duties as COO of Forward Water, he is currently portfolio manager at Bioindustrial Innovation Canada, one of the major shareholders of Forward Water.
Grant Thornley - VP Engineering Solution Sales
Grant Thornley is a business strategist with more than 25 years of experience. He has developed and grown international water/wastewater markets through innovative growth hacking techniques and processes, synergized with product development and positioning, data analytics and acceleration of go-to-market strategies through alliances and partnerships. Having expertise in chemical, mechanical and biological treatment processes as well as designing hundreds of municipal and industrial applications, Thornley brings a knowledge-to-action approach to helping clients solve problems and realize new opportunities in water reuse, energy conservation and CO2 reduction.
Leonard Seed - Director of Engineering & Operations
Leonard Seed has over 18 years of experience developing and commercializing new water and wastewater treatment technologies, primarily in a start-up environment. Seed is named as an inventor on over seven patents and has authored several publications. Seed is a professional engineer and has an MSc in environmental engineering from the University of Guelph. Leonard holds inventorship on seven US patents and is an instructor at Mohawk College teaching aspects of water treatment technologies and leading research efforts on forward osmosis.
Philip Jessop - Executive Research Director
Dr. Philip Jessop is a professor and Canada Research Chair of Green Chemistry at the Department of Chemistry, Queen’s University in Kingston, Ontario. He also serves as the technical director of GreenCentre Canada and executive research director at Forward Water Technologies. After his Ph.D. (British Columbia, 1991) and a postdoctoral appointment (Toronto, 1992), he became a contract researcher in Japan working for R. Noyori (Nobel Prize 2001). As a professor at the University of California-Davis (1996-2003) and since then at Queen’s, he has studied green solvents and the chemistry of carbon dioxide. Distinctions include the NSERC Polanyi Award (2008), Killam Research Fellowship (2010), Canadian Green Chemistry & Engineering Award (2012), Eni Award (2013), Fellowship in the Royal Society of Canada (2013), a Canada Research Chair Tier 1 (2013 to 2020), and the NSERC Brockhouse Prize (2019). He serves as chair of the editorial board for the journal Green Chemistry, has chaired three international conferences, and helped create GreenCentre Canada, a national center of excellence for the commercialization of green chemistry technologies. Forward Water is a spin-off company based on Dr. Jessop’s switchable solvents.
Quarterly Activities Report for the Period Ended 31 March 2024
Highlights
Solonópole Project, Ceará, Brazil
- Anomalous lithium values above 100 ppm (and up to 631 ppm) found in 383 soil samples within existing and new target areas.
- Integration and interpretation of these soil sample results with data from geophysics, geological mapping (138 line-km), trenching and RC drilling (~2,000m) further enhance prospectivity of existing and new targets.
- Combined datasets confirmed several swarms of pegmatite bodies striking in a NE-SW and E-W directions and identified new high priority areas.
- Nira interpreted to be the most prospective new target, with 180 soil samples of >100 ppm Li and as high as 524 ppm Li covering an area of at least 1km2.
- Nira also features 17 pegmatite outcrops with average widths of up to 30 meters and strike lengths from 200m to 600m.
- Planning for the next follow-up drilling campaign is underway.
Napperby Project, Northern Territory, Australia
- Oceana’s Napperby Project covers some of Arunta Province’s hottest granites plutons, the Wangala Granite (uranium) and Ennugan Mountains Granite (uranium/thorium).
- Both granite plutons show outstanding uranium/thorium ratios and are almost fully encapsulated within Napperby’s EL32836 and ELA32841.
- Follow-up exploration activities will target uranium and Rare Earth Elements (REEs) in parallel with Lithium-Caesium-Tantalum (LCT) pegmatites.
Corporate
- Experienced geologist and mining executive, Aidan Platel, appointed as non- executive director.
- Brazilian-based geologist, Mike Sousa, appointed as Exploration Manager and Competent Person.
- The Company remains well-funded with cash at 31 March of ~$2.67m.
OPERATIONS
Solonópole Project, Ceará State, Brazil
The Solonópole Project area is located in the state of Ceará, north-eastern Brazil and consists of ten (10) exploration permits covering approximately 124km2 (Figure 1), owned by Oceana’s subsidiary Ceará Litio. The project is approximately three to four hours by road from the state capital Fortaleza and deep-water port of Pecém, and is well serviced by sealed highways and high voltage electricity.
Figure 1: Solonópole Project permits and targets drilled in May – June 2023 (red dots)
Large-Scale Soil Sampling and Geological Mapping at Solonópole Lithium Project
The large-scale infill soil sampling program that commenced in March 2023 continued over the project area (Figure 2). The optimized sampling grids are along 200m spaced lines with 25m sampling stations, aligned north south to cut across all typical pegmatite strike directions in this area.
As at 31 March 2024, over 10,300 soil samples had been collected from Solonópole and 8,741 soil samples had been analysed by X-Ray Fluorescence (XRF) for Lithium-Caesium-Tantalum (LCT) pathfinders, of which 1,908 soil samples have lab results validated by Oceana´s internal QA/QC. Anomalous lithium values above 100 ppm and up to 631 ppm were found in 383 soil samples within existing and new target areas.
Click here for the full ASX Release
This article includes content from Oceana Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Results From First Drilling at Abbotts North Confirm LCT System
HIGHLIGHTS
- Assay results from Abbotts North confirm continuation of LCT system
- Focus shifts to targets identified to the north and east of previous drilling
- Field work over these newly identified areas has commenced
- Premier1 is fully funded for second phase exploration in these areas
A total of 11 RC holes for 1,623m were drilled to test the main outcropping pegmatites at the Buttamiah Prospect. Additional studies of the outcropping pegmatites in the larger Buttamiah Prospect area including fractionation vectoring using K/Rb ratios suggest the core of the system to be located to the east of the previous drilling.
In addition, the data indicate that LCT pegmatites occur within the granites to the north of the drill area. Further mapping and sampling of pegmatites in these areas as well as over the remaining tenement package has commenced. Focus is to delineate drill targets of higher grades and greater thickness that have the potential to form a significant lithium deposit within the existing LCT system.
Premier1 is fully funded for any subsequent phase two drilling program.
Figure 1: Cross-section of intercepted pegmatites showing significant results >0.05% Li2O.
Figure 2: Geological map of the Buttamiah Prospect with collar locations of completed RC drilling.
Significant intercepts from RC drilling undertaken on the Abbotts North project in February 2024 are shown in Table 1a. Drill collar details are shown in Table 1b.
Click here for the full ASX Release
This article includes content from Premier1 Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Analyst Firm Targets Share Price Upside for Lithium Universe as Refinery Plans Ramp Up
“Drawing on its expertise, LU7’s Dream Team is working on closing the massive gap in downstream lithium processing in North America by building a 16,000 tpa lithium carbonate refinery in Quebec, for which the company is rapidly completing a DFS (definitive feasibility study,” said East Coast Research analyst Behzad Golmohammadi in his report.
Led by lithium pioneer Iggy Tan, Lithium Universe has assembled a team of lithium industry experts that can deliver on the company’s goal to strengthen North America’s lithium supply chain. Through this expertise, Lithium Universe aims to close a widening lithium processing gap in North America, through a planned 16,000-tpa lithium carbonate refinery in Quebec, Canada, the analyst report cited. Lithium Universe is currently undertaking a definitive feasibility study for the processing plant.
China currently controls around 60 percent of the global lithium refining capacity for batteries, a huge driver for North American efforts to a lithium supply chain for the region.
“Western governments have come up with policies and strategic plans to support the expansion of their lithium refining capacities. However, the biggest challenge here is a lack of expertise that has led to a series of recent failures and delayed startups in the sector. This is where LU7’s Dream Team shines with its proven track record of successfully constructing and commissioning such projects,” the analyst report said.
Report highlights:
- Lithium Universe’s “dream team” of lithium industry experts led by Iggy Tan is working on closing the massive gap in downstream lithium processing in North America by building a 16,000 tpa lithium carbonate refinery in Quebec, Canada, for which the company is rapidly completing a definitive feasibility study.
- Lithium Universe plans to replicate the Jiangsu Lithium Carbonate Refinery, using the same engineering manager (Hatch) and the key executives who built the world-class Jiangsu Refinery.
- China’s dominance in the global lithium supply chain has pushed governments in North America to develop and strengthen a secure supply chain outside China, with strategic support for projects that expand North America’s lithium refining capacity.
- East Coast Research has valued Lithium Univers at AU$0.047 per share in a base-case scenario and AU$0.058 per share in a bull-case scenario, solely based on the Quebec lithium carbonate refinery project, and excluding the company’s prospective exploration assets or its spodumene concentrator project in Quebec.
For the full analyst report, click here.
This content is intended only for persons who reside or access the website in jurisdictions with securities and other applicable laws which permit the distribution and consumption of this content and whose local law recognizes the scope and effect of this Disclaimer, its limitation of liability, and the legal effect of its exclusive jurisdiction and governing law provisions [link to Governing Law section of the Disclaimer page].
Any investment information contained on this website, including third party research reports, are provided strictly for informational purposes, are general in nature and not tailored for the specific needs of any person, and are not a solicitation or recommendation to purchase or sell a security or intended to provide investment advice. Readers are cautioned to seek the advice of a registered investment advisor regarding the appropriateness of investing in any securities or investment strategies mentioned on this website.
