Brunswick Exploration Inc. (TSX-V:BRW) is pleased to announce that it is launching a major, long-term, grassroots lithium exploration program in Quebec and the Maritime provinces, with initial staking of several prospective claim blocks throughout the Southern Abitibi region of Quebec. A total of 618 claims, separated into 12 blocks and totaling 35,440 hectares, were acquired and are collectively known as the Pontiac Lithium Project. The claims cover known pegmatite intrusions, which is the host rock to spodumene, the most common and commercially valuable hard-rock ore of lithium. All claim are located in the Pontiac geological province, south of the Cadillac-Larder Lake break, and are accessible by road from Rouyn-Noranda, Malartic or Val d’Or.
Mr. Killian Charles, President of BRW, commented: “This newly announced claims acquisition is the start of Brunswick Exploration’s push into grassroot exploration for critical metals such as lithium, nickel and tin, building on our recently announced tin portfolio in New Brunswick. Tin and lithium fundamentals are incredibly strong and were the best performing metals in 2021, and we do not expect demand nor spot price for these valuable commodities to drop any time soon.”
“Few companies are actively searching for new discoveries in the lithium space with most of the current exploration effort focused around historical deposits and showings. Leveraging our exploration expertise, we have been able to stake many areas with sound geology and favorable rock geochemistry, with no historical lithium exploration. We believe that there is excellent potential for discovery of new spodumene pegmatites in Eastern Canada, and are extremely excited to kick-off a very busy field season starting in Q2 2022. We have begun to outline multiple new, highly prospective lithium targets elsewhere in Quebec and further afield into the Maritime provinces.”
Lithium Market Fundamentals
The lithium market is rapidly growing as lithium-ion batteries, used predominantly in vehicle as well as small electronics, are creating demand that has already outstripped global supply. The sharp rise in demand is largely attributed to western governments pushing for decarbonization as they seek to transition their economies to sustainable energy sources.
In 2021, market consultant Adamas Intelligence estimated an increase of 89% year-over-year in electric vehicle purchases with no sign of market exhaustion. This significant demand increases in global EV has spurned massive investments from the auto industry to develop and advance the nascent market with planned investment in excess $200B in 2020 alone.
Importantly, the mining industry has been largely unable to meet current and expected demand. Lithium carbonate, the most common lithium battery component, has seen prices rising nearly ten-fold over the previous decade. Prices rose over 500% since 2020 and continue to trade near all-time highs.
Global lithium production is currently sourced from three separate deposit types:
Other significant lithium deposits include Rio Tinto’s Jadar deposit located in Serbia, a world-class lithium resource. The main ore mineral is known as jadarite, an unusual boron-lithium mineral. It is the only known deposit of its kind in the world and is not currently in production.
The scientific and technical information contained in this press release has been reviewed and approved by Mr. Robert Wares, P. Geo, CEO and Chairman of Brunswick Exploration.
About Brunswick Exploration
The Company is a Montreal-based mineral exploration venture listed on the TSX-V. The Company is focused on grassroot exploration for metals necessary to decarbonization and energy transition with a particular focus on lithium, tin, nickel and copper. The company is focused on rapidly advancing the most extensive grassroot lithium exploration claim package in Eastern Canada.
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We acknowledge the [financial] support of the Government of Canada.