Toronto-based Kingswood Explorations (TSE) has signed an option with a private company to acquire a 22-claim lithium property in Lacorne and Lamotte twps., about 40 km northwest of Val d’Or, Que. Kingswood is interested in the property because it lies west of the past-producing Quebec Lithium mine which started production in 1956. Lithium, the lightest metal on earth, is known for its high electrochemical potential and has applications ranging from aluminum refining to battery manufacturing.
Last year, Hydro Quebec and Yuasa Battery of Japan formed a joint venture to develop a lithium replacement for the traditional lead vehicle battery. The latter represents a $65-billion annual market.
In the mid-1950s, diamond drilling on the optioned property outlined three partially developed zones of economic interest with one zone assaying 1.29% lithium oxide over 45 ft. A $300,000 program of stripping, blasting and diamond drilling has been recommended for the claims.
Be the first to comment on "Kingswood options Lithium property"