- Total number of electric vehicles on the road may reach 40 million globally by 2025
- One electric vehicle uses more lithium in its batteries than 10,000 smartphones
- High-grade assays at Irgon Mine signal project feasibility
The scramble for lithium continues, fueled by promising projections like those issued by the International Energy Agency (IEA). In a revealing analysis on the global electric vehicle industry, the agency estimates that the global stock of electric cars will rise to 40-70 million by 2025 (http://nnw.fm/QO5rU). In 2016, the number of electric cars on roads around the world surpassed two million, after crossing the one million mark in 2015. Those numbers signal voracious future demand for lithium, far exceeding that required at present for smartphone manufacture, since, for example, ‘a Tesla Model S uses more lithium in its batteries than 10,000 smartphones’ (http://nnw.fm/JYe9q). Thus, although a huge rise in output is forthcoming from the Lithium Triangle – Argentina, Bolivia and Chile – market supply may still fall short of that required by global battery makers. Such market factors favor junior exploration company QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ). The corporation, based in Vancouver, British Columbia, is mining for lithium at Cat Lake, a property that hosts several rare-element granitic pegmatite occurrences, including the one at the Irgon Lithium Mine Project.
The Irgon Lithium Mine Project, located immediately north of Cat Lake, Manitoba, is home to pegmatite rich in cesium (CS), tantalum (Ta) and lithium (Li). The former owner of the property, the Lithium Corporation of Canada Limited, carried out substantial…
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