PALM BEACH, Florida, November 29, 2017 /PRNewswire/ —
The prices of cobalt and lithium have skyrocketed recently because of worries that supply of the vital metals may not be able to keep pace with demand. Once an unlikely hero in precious metals, cobalt continues to shine and outpace all expectations as global demand skyrockets in light of the rising number of electric vehicles. Cobalt prices alone have nearly doubled since the start of 2017 to trade near $29 per pound, according to data from Metal Bulletin. Although the searing pace could potentially hurt the long-term supply of the resource, cobalt leaders are releasing impressive results from excavations to boost performance and provide lucrative revenue streams as 2017 comes to a close. Cobalt/Lithium miners with developments include: LiCo Energy Metals Inc. (OTC: WCTXF)(TSX-V: LIC), eCobalt Solutions Inc. (OTC: ECSIF) (TSX: ECS), Lithium Americas Corp. (TSX: LAC.TO) (OTC: LACDD), Rio Tinto plc (NYSE: RIO), Glencore plc (OTC: GLNCY) (LSE: GLEN).
LiCo Energy Metals Inc. (OTCQB: WCTXF) (TSX-V: LIC.V) is pleased to report assay results for diamond drill holes GB17‐06 to GB17‐07 from the recently completed drill program on the Glencore Bucke Property located 6km northeast of Cobalt, Ontario and provides a drilling update.
“We are very pleased with the higher-grade cobalt mineralization that has been intersected at our Glencore Bucke property” says Tim Fernback, President & CEO of LiCo and “not only have we intersected cobalt style mineralization in every drill hole completed, we are happy to report that 4 of the 7 holes assayed to date have higher than average grades of more than 1% cobalt. We are also finding very good silver and copper results in our assays which is equally exciting. So far, we have drilled a combined 3,728 m with 30 drill holes on our Glencore and Teledyne Ontario properties as part of our 2017 flow-through work program. Read this and more news for LiCo Energy at: http://www.marketnewsupdates.com/news/wctxf.html
A summary of the most significant results of the recent drill core assays are:
• GB17-07 – 1.11% Co, 16.6 ppm Ag over 2.0 m, incl. 7.64% Co, 9.1 ppm Ag over 0.26m
• GB17-06 – 4.45% Co, 34.2 ppm Ag over 0.30 m from 44.40 to 44.70 m
• GB17-06 – 0.25% Co over 1.75 m, incl. 0.58% Co, 28.9 ppm Ag over 0.5 m
On the Glencore Bucke Property, the Company