Recent Data Shows Demand for Cobalt Set to Grow

NEW YORK, March 15, 2018 /PRNewswire/ --

According to data reported by Research and Markets, the global demand for cobalt will increase by 10% from 2018 to 2022. The global consumption for cobalt increased 4.3 percent to 103,000 tons in 2016, driven primarily by rapidly developing lithium-ion battery technologies, around three-quarters of which are set to use cobalt chemicals by 2020. Due to the increasing popularity of electric vehicles, it is projected for EVs to overtake industrial applications as the highest source of demand for rechargeable batteries. The report also indicates that Cobalt ore mostly comes from copper-nickel associated ores. The two sources take up approximately 85% of the total production with reclaimed refined cobalt accounting for 10% of it. Cameo Resources Corp. (OTC: CRUUF), Katanga Mining Limited (OTC: KATFF), Orocobre Limited (OTC: OROCF), Albemarle Corporation (NYSE: ALB), Ardea Resources Limited (OTC: ARRRF)

A report by Mining Metals, DRC contributes around 60% of global cobalt production, and supplies 80% of the cobalt used by Chinese chemical refineries. A major concern regarding the increasingly cobalt-reliant battery technology is the humanitarian and geopolitical situation in the country the DRC. According to the research, "the number of junior mining companies - Canadian firms in particular - have clearly identified the demand for new sources of cobalt, and primary cobalt projects are now starting to garner more attention. Very few 'pure-play' cobalt mines exist, but a growing number of projects are getting underway in response to the opportunity."

Cameo Resources Corp. (OTC: CRUUF) also listed on the TSX Venture Exchange under the ticker (TSX-V: CRU). Earlier today the company announced breaking news that, "announce it has secured a local drill rig, which will be immediately deployed to the Gochager Lake Copper-Cobalt-Nickel project upon execution of the submitted exploration permit agreement. Cameo is currently evaluating various logistical options to relocate the drill rig onsite to the Gochager Lake Copper-Cobalt-Nickel project.

The Company plans to use the drill rig to twin historical drill holes; to enable for the first time, proper delineation of the known cobalt mineralization associated with the Gochager Lake deposit. Upon completion of the drillholes, comprehensive borehole EM geophysical work will be performed.

Consulting geologist Ian Fraser, states, "The proximity of the drill rig to the Gochager Lake Copper-Cobalt-Nickel project will allow for an expedited drill program. Once mobilised, the drill will immediately begin the process of twinning historical drill holes to delineate the known cobalt mineralization.  This drill program will be paramount in further identifying the presence of cobalt at the Gochager Lake deposit."

Gochager Lake Copper-Cobalt-Nickel Project - The project, which consists of four claims covering 3,759 hectares, is located in northern Saskatchewan approximately 75 km north of the town of La Ronge. Historical exploration has identified a semi-massive and massive Ni-Cu deposit with significantly elevated levels of cobalt, a vital component in the manufacture of the latest generation of lithium ion batteries.

The Gochager Lake Copper-Cobalt-Nickel project has reported grades of up to 3.92% Nickel, 0.70% Copper and 2.86% Cobalt as reported by the Saskatchewan government (Mineral Deposit  Index #0880). Historical resource estimates (non-NI43-101 compliant) were generated in 1968 and 1990. The 1968 historic resource for the Gochager Lake deposit calculated 4.3 million tons grading 0.30% Ni and 0.08% Cu. J.S. Steel, reported in 1990, that vertical and longitudinal sections were constructed from the existing data and a historic resource with reasonably well-defined limits was defined containing 1,770,000 tonnes at 0.735% nickel-equivalent."

Katanga Mining Limited (OTC: KATFF) operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. Katanga Mining Limited operates a large-scale copper-cobalt mine complex in the Democratic Republic of Congo (DRC) through two joint ventures, Kamoto Copper Company (KCC) and DRC Copper and Cobalt Project (DCP). On January 31, 2018, the company announced its 2017 fourth quarter and year end production results. During Q1, 2018, KTC (including KITD), and Luilu are expected to ramp-up the operations to produce copper and cobalt in accordance with the ramp-up plan; Execution of the acid plant, cobalt dryers and cobalt de-bottlenecking projects are expected to continue to ensure the completion of the planned project schedules.

Orocobre Limited (OTC: OROCF) is a dynamic global lithium carbonate supplier and an established producer of boron. On March 6, 2018, the company provided an update on the results of the pumping test conducted on CAU07 in the NW Sector of the Cauchari JV properties located in Jujuy Province, Argentina. The exploration program is being managed by JV partner Advantage Lithium Corp. who hold 75% of Cauchari. CAU07 was drilled to a depth of 343 m in the north of the NW Sector of the property. This drill hole intersected some clay units and material thicknesses of sand and gravel dominated units with favourable porosity and permeability characteristics. A variable flow rate pumping test (step test) was conducted on the well at flow rates from 3.5 to 17 l/s, limited by the capacity of the pump used in the pumping test (Figure 1). The well has a high specific capacity and the test suggests that a flow rate of approximately 36 l/s may be feasible. The pumping test results confirm the excellent hydraulic characteristics in the NW Sector which are favorable for future brine extraction. The constant rate pumping test was conducted at a flow rate of 17 l/s -20 l/s over a period of 48 hours. 19 brine samples were taken during the pumping test with the average concentration of 601 mg/l Lithium and 4,853 mg/l Potassium and a low Mg/Li ratio of 2.6:1. The Mg/Li ratio is very similar to that in the producing Olaroz lithium project.

Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC, is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. Recently, the company announced that as expected, it has received approval from Chile's Economic Development Agency(CORFO) for an increase in the company's lithium quota to sustainably increase Albemarle's lithium production in Chile to as much as 145,000 metric tons of lithium carbonate equivalent (LCE) annually through 2043.  As previously announced, this quota increase will be enabled by the company's deployment of innovative technology to extract more lithium without the need for additional brine pumping at the Salar de Atacama. Albemarle's new brine yield technology coupled with the terms of this CORFO quota increase will result in similar cost and margin structure to what Albemarle has with its current production processes.

Ardea Resources Limited (OTC: ARRRF) is a focused developer and explorer, focusing on advanced-stage development projects cobalt and zinc-gold. Recently, the company announced updated resources to support the Pre-Feasibility Study (PFS) on its prime development project, the Goongarrie Nickel Cobalt Project (GNCP). The resources are significant upgrades and represent the initial cobalt and nickel mining inventory that the Company intends to develop at Goongarrie. A new, substantially larger resource for the KNP Cobalt Zone is presented here as 108.3 Mt at 0.10 % cobalt and 0.79 % nickel. In total the KNP Cobalt Zone contains over 108,000 tonnes of cobalt metal and over 856,000 tonnes of nickel metal. The updated resource for the Cobalt Zone at Goongarrie (blue areas, Figure 1) defines 83.1 Mt at 0.10 % cobalt and 0.81 % nickel. The corresponding contained metal estimates are 81,700 t cobalt metal and 672,300 t nickel metal.

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