- Global lithium-ion battery market expected to reach $93.1 billion by 2025, growing at a CAGR of 17 percent
- High market demand driven by increasing adoption of electric vehicles, portable consumer electronics and grid storage systems
- Mobile Metal Ion geochemical survey initiated over select target areas within Irgon Lithium Mine Project to locate mineral deposits, provide data for subsequent drill programs
- Land package located in a well-established, prolific mining region of Manitoba, Canada, ranked as one of the world’s most mining-friendly
Vancouver-based exploration company QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ) is at the forefront of a global drive to locate and extract one of the world’s most in-demand metals – lithium. As a key raw material for the manufacture of batteries that power electric vehicles and next-generation technologies, lithium is particularly sought after because of its high energy density and safety level. The global lithium-ion battery market is expected to reach $93.1 billion by 2025, growing at a CAGR of 17 percent, according to a new report by Grand View Research, Inc. (http://nnw.fm/0MdQy).
The use of lithium in energy storage systems is expected to witness the fastest growth with a CAGR of 21 percent over the forecast period of 2017 to 2025, Grand View Research states in its report. Developments in wind and solar photovoltaic technology in countries such as Germany, China and the U.S. are leading the market, with the Asia-Pacific region acting as a dominant force that’s projected to show a substantial rise due to government policies promoting electric vehicles.
QMC recently expanded its mineral claim holdings within the Irgon Lithium Mine Project in Manitoba, Canada, where the company holds a land package covering over 11,000 acres. The company increased its holdings by staking nine new claims, totaling 4,784 acres. QMC is the 100 percent owner of the Irgon Lithium Mine Project, historically estimated to hold 1.2 million tons grading 1.51 percent lithium oxide (Li2O), a press release states (http://nnw.fm/0rJWG). The acquisition of these new claims solidifies QMC’s goal of securing and developing lithium-rich prospects in Manitoba. This area is a well-established, prolific mining region that’s ranked as one of the world’s most mining-friendly, with much of the necessary infrastructure already in place.
QMC has also initiated planning of a Mobile Metal Ion (“MMI”) geochemical survey over select target areas within the Irgon Project footprint. MMI geochemistry, a proven technique used to locate buried mineral deposits, will be undertaken by SGS Canada Inc. (“SGS”), the sole provider of MMI technology. Beginning with an initial orientation over known mineralization in the Irgon Pegmatite Dike, the MMI geochemical exploration technique will expand westward along strike to help define any potential buried extensions of the dike, a company press release states (http://nnw.fm/7uhVZ).
SGS’s team of engineers and geoscientists will review existing documents and geological modeling of the historical data to provide guidance to QMC on its 2018 field program and drilling campaign. Data acquired through the 2018 exploration program recommended by SGS will be used by SGS to compile a NI 43-101 technical report, which is expected to confirm and potentially increase the non-NI 43-101 historical reported resource.
For more information, visit the company’s website at www.QMCMinerals.com
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.networknewswire.com