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Marifil Mines Ltd. (TSX.V: MFM) (OTCQB: MFMLF) Exploring Cobalt and Lithium Resources for Expanding Electric Vehicle Market

  • Global demand rising for electric vehicles fueled by lithium-ion batteries, with sales reaching 1.24 million vehicles in 2017
  • Marifil Mines uniquely positioned in Argentina’s famed ‘Lithium Triangle’
  • Lithium-ion battery market expected to reach a value of $67.7 billion by 2022
  • Assay work continues on 600 core samples taken from company’s flagship property in gold-producing region

The world’s appetite for battery-powered vehicles shows no sign of abating as major automakers announce plans to launch more than 400 models of electric vehicles (“EV”) by 2025, a report by Frost & Sullivan states (http://nnw.fm/O5dOc). Global EV sales are expected to grow at a compound annual growth rate of 11 percent between 2017 and 2022, when the industry could be worth almost $128 billion, according to BCC Research (http://nnw.fm/VA57o). Fueling these electric vehicles, and many of the mobile devices enjoyed by consumers, are lithium-ion batteries.

Junior exploration company Marifil Mines Ltd. (TSX.V: MFM) (OTCQB: MFMLF) and its sizable portfolio of lithium and cobalt claims (another element used in key battery technologies) is positioned to benefit as the EV market surges ahead. Marifil Mines holds mining claims on over 15,250 hectares (37,700 acres) in Argentina’s mineral-rich land within South America’s famed ‘Lithium Triangle’.

The benefits of electric vehicles are widely known, with passenger EVs making up the bulk of the market’s value and growth, according to a report issued by BCC Research (http://nnw.fm/k4BdN). However, there are also scooters, low velocity vehicles, buses, niche vehicles, commercial and industrial vehicles, and even battery-powered military vehicles. Each of these modes of battery-powered transportation offer immediate reduction of air pollution through elimination of vehicle exhaust, in addition to producing less overall noise. The need for lithium to fuel EVs is constantly rising, with market analysts expecting the global lithium-ion battery market to reach $68 billion in value by 2022, Statista reports (http://nnw.fm/jCw3m).

Marifil’s lithium exploration efforts include an agreement signed earlier this year with Argentine company Minera Esperanza S.A. The agreement relates to a five-year exploration plan at two lithium-bearing properties in Argentina’s Catamarca province. Marifil has an option to purchase the lithium properties, which would expand its lithium portfolio to 15,267 hectares within the Puna scrublands of the prolific ‘Lithium Triangle’.

Marifil president and CEO Robert Abenante noted in a news release (http://nnw.fm/4esnZ) that the agreement displays the company’s “continued aggressive growth within the lithium space in Argentina.”

Marifil also owns 360 hectares (890 acres) of patented mineral rights for cobalt exploration and 42,322 hectares (104,578 acres) of gold exploration and mining rights in an advanced exploration stage in San Roque that company engineers indicate have high gold discovery potential with “excellent infrastructure and mining friendly politics.”

For more information, visit the company’s website at www.MarifilMines.com

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