Feb 6, 2017 / TheNewswire / Vancouver, British Columbia; - LiCo Energy Metals Inc. ("the Company "or" LiCo") TSX-V: LIC; OTCQB: WCTXF is pleased to announce that plans are currently being finalized to start a comprehensive exploration program at the Purickuta Lithium Project in the Salar de Atacama, Chile.
Phase One will consist of preparing digital maps, completing surface mapping and sampling near surface brine locations to a depth of +/- 1.5 meters utilizing an excavator. In addition, Phase Two quotations have been received for both a NanoTEM geophysical survey (helpful in determining non-metallic conductors at shallow depths) and a comprehensive engineering and hydrological study that includes 72hr flow testing, porosity measurements and calculation of potential reserve values. An RFP for drilling quotes will be issued this coming week.
"It is with great anticipation that we approach the start of our exploration program in the Salar de Atacama, famous for its Lithium production by our neighbors SQM and Albemarle. If all goes well, we are hopeful to have a commercially viable project. Several direct extraction technologies are now being developed which would be an ideal fit for our rate of production." commented Mr. Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo.
The Company holds an option to acquire up to a 60% interest in the Purickuta Exploitation concession (the "Property"), subject to TSX Venture Exchange ("Exchange") approval. The technical content of this news release has been reviewed and approved by Alan Morris CPG and Qualified Person.
Update on Transaction
The Company previously announced on January 18, 2017 that it had entered into a mining option agreement to acquire up to a 60% interest in the Property from Durus Copper Chile SPA (the "Transaction"), subject to Exchange approval.
The Company confirms that it has submitted all required documentation to the Exchange including a 43-101 Technical Report on the Property.
The Company will provide further updates to its shareholders including the closing date of the Transaction when available.
Exercise of Warrants
The Company is pleased to report that 9,100,909 share purchase warrants have been exercised resulting in proceeds of $623,818 being added to the Company's treasury.
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a well funded Canadian based exploration company who's primary listing is on the TSX Venture Exchange. The Company's focus is directed towards exploration for high value metals integral to the manufacture of lithium ion batteries.
