Champion Electric Applauds Rio Tinto Acquisition of Arcadium Lithium
Champion Electric Metals (CSE: LTHM, OTCQB: CHELF, FSE: 1QB0) applauds Rio Tinto's $6.7 billion acquisition of Arcadium Lithium, emphasizing Rio's commitment to future lithium demand. Champion Electric's President and CEO, Jonathan Buick, noted the acquisition positions Rio as a top-three EV metals producer and highlights Quebec's key role in the energy transition. Champion Electric expects sustained investment interest and value creation in Quebec. The company is advancing its exploration program in James Bay, Quebec, focusing on the Quebec Lithium Project near significant lithium occurrences. Recent trenching revealed substantial lithium content, including widths of up to 10.5 meters with 0.96% Li₂O, and 8.5 meters with 1.17% Li₂O. Analytical results from Phase II drilling and spodumene grain counts are anticipated soon, with renewed trenching and drill target definition planned for the 2025 field season.
Champion Electric Metals (CSE: LTHM, OTCQB: CHELF, FSE: 1QB0) applaude l'acquisizione da 6,7 miliardi di dollari di Arcadium Lithium da parte di Rio Tinto, sottolineando l'impegno di Rio verso la domanda futura di litio. Il presidente e CEO di Champion Electric, Jonathan Buick, ha osservato che l'acquisizione posiziona Rio tra i primi tre produttori di metalli per veicoli elettrici e evidenzia il ruolo chiave del Quebec nella transizione energetica. Champion Electric si aspetta un costante interesse per gli investimenti e una creazione di valore in Quebec. L'azienda sta avanzando nel suo programma di esplorazione a James Bay, Quebec, concentrandosi sul Quebec Lithium Project vicino a significative occorrenze di litio. Recenti scavi hanno rivelato un sostanzioso contenuto di litio, inclusi larghezze fino a 10,5 metri con lo 0,96% di Li₂O e 8,5 metri con l'1,17% di Li₂O. I risultati analitici della Fase II di trivellazione e il conteggio dei grani di spodumene sono attesi a breve, con un rinnovato scavo e la definizione degli obiettivi di trivellazione pianificati per la stagione di campagna del 2025.
Champion Electric Metals (CSE: LTHM, OTCQB: CHELF, FSE: 1QB0) aplaude la adquisición de Arcadium Lithium por parte de Rio Tinto por $6.7 mil millones, enfatizando el compromiso de Rio con la futura demanda de litio. El presidente y CEO de Champion Electric, Jonathan Buick, comentó que la adquisición posiciona a Rio como uno de los tres principales productores de metales para vehículos eléctricos y destaca el papel clave de Quebec en la transición energética. Champion Electric espera un interés sostenido en inversiones y creación de valor en Quebec. La compañía está avanzando en su programa de exploración en James Bay, Quebec, enfocándose en el Proyecto de Litio de Quebec cerca de importantes ocurrencias de litio. Excavaciones recientes revelaron un contenido sustancial de litio, incluyendo anchos de hasta 10.5 metros con 0.96% de Li₂O y 8.5 metros con 1.17% de Li₂O. Se anticipan pronto resultados analíticos de la Fase II de perforación y conteos de granos de espodumena, con excavaciones renovadas y definición de objetivos de perforación programadas para la temporada de campo de 2025.
Champion Electric Metals (CSE: LTHM, OTCQB: CHELF, FSE: 1QB0)는 Rio Tinto가 Arcadium Lithium을 67억 달러에 인수한 것을 환영하며, Rio의 향후 리튬 수요에 대한 의지를 강조합니다. Champion Electric의 대통령이자 CEO인 Jonathan Buick는 이번 인수가 Rio를 전기차 금속 생산 상위 3위로 위치시킨다고 언급하며, 에너지 전환에서 퀘벡의 중요한 역할을 강조했습니다. Champion Electric은 퀘벡에서 지속적인 투자 관심과 가치 창출을 기대하고 있습니다. 이 회사는 퀘벡의 중요한 리튬 발생지 인근에 있는 퀘벡 리튬 프로젝트에 초점을 맞춰 James Bay에서 탐사 프로그램을 진행하고 있습니다. 최근의 트렌칭 결과는 최대 10.5미터에서 0.96% Li₂O, 8.5미터에서 1.17% Li₂O와 같은 상당한 리튬 함량을 밝혀냈습니다. Ⅱ단계 드릴링 및 스포듐 곡물 수에 대한 분석 결과는 곧 발표될 예정이며, 2025년 야외 시즌을 위해 새로운 트렌칭 및 드릴 목표 정의가 계획되어 있습니다.
Champion Electric Metals (CSE: LTHM, OTCQB: CHELF, FSE: 1QB0) salue l'acquisition d'Arcadium Lithium par Rio Tinto pour 6,7 milliards de dollars, soulignant l'engagement de Rio envers la demande future de lithium. Le président et CEO de Champion Electric, Jonathan Buick, a noté que cette acquisition place Rio parmi les trois principaux producteurs de métaux pour véhicules électriques et met en avant le rôle clé du Québec dans la transition énergétique. Champion Electric s'attend à un intérêt d'investissement soutenu et à une création de valeur au Québec. L'entreprise fait avancer son programme d'exploration à James Bay, au Québec, en se concentrant sur le projet de lithium du Québec, près de significatives occurrences de lithium. Des fouilles récentes ont révélé un contenu substantiel en lithium, y compris des largeurs allant jusqu'à 10,5 mètres avec 0,96 % de Li₂O et 8,5 mètres avec 1,17 % de Li₂O. Les résultats analytiques de la phase II de forage et les comptages de grains de spodumène sont attendus prochainement, avec une relance des fouilles et la définition des cibles de forage prévues pour la saison de campagne de 2025.
Champion Electric Metals (CSE: LTHM, OTCQB: CHELF, FSE: 1QB0) begrüßt die Übernahme von Arcadium Lithium durch Rio Tinto im Wert von 6,7 Milliarden Dollar und betont Rios Engagement für die zukünftige Nachfrage nach Lithium. Der Präsident und CEO von Champion Electric, Jonathan Buick, bemerkte, dass die Übernahme Rio als einen der drei größten Produzenten von EV-Metallen positioniert und hebt die Schlüsselrolle von Quebec im Energiewandel hervor. Champion Electric erwartet nachhaltiges Investitionsinteresse und Wertschöpfung in Quebec. Das Unternehmen treibt sein Explorationsprogramm in James Bay, Quebec, voran und konzentriert sich auf das Quebec Lithium-Projekt in der Nähe bedeutender Lithiumvorkommen. Jüngste Grabungen haben erheblichen Lithiumgehalt offenbart, einschließlich Breiten von bis zu 10,5 Metern mit 0,96% Li₂O und 8,5 Metern mit 1,17% Li₂O. Analytische Ergebnisse aus der Phase-II-Bohrung und Spodumen-Kornzähler werden bald erwartet, mit erneuten Grabungen und der Definition von Bohrzielen, die für die Feldsaison 2025 geplant sind.
- Rio Tinto's $6.7 billion acquisition of Arcadium Lithium signals strong future lithium demand.
- Positions Rio Tinto as a top-three producer of EV metals.
- Highlights Quebec as a key jurisdiction for energy transition.
- Significant investment interest and value creation expected in Quebec.
- Recent trenching results show significant lithium content: up to 10.5 meters with 0.96% Li₂O, and 8.5 meters with 1.17% Li₂O.
- Pending analytical results from Phase II drilling, which could impact future projections.
Toronto, Ontario--(Newsfile Corp. - October 14, 2024) - Champion Electric Metals Inc. (CSE: LTHM) (OTCQB: CHELF) (FSE: 1QB0) ("Champion Electric" or the "Company") applauds the recently announced
This acquisition demonstrates that Rio Tinto is fully committed to the future demand for lithium, and Champion Electric expects continued value creation and investment interest in Quebec.
Jonathan Buick, President and CEO, commented: "The Rio acquisition of Arcadium positions Rio as a top-three producer of EV metals and highlights Quebec as a key jurisdiction for the energy transition. We believe that investment interest in Quebec will remain strong, and that value creation will stay attractive among exploration companies that have made significant discoveries. We continue to advance our exploration and drilling efforts and are confident in delivering rewards to our shareholders."
Exploration in James Bay, Quebec
Champion Electric has made excellent progress throughout phase two of its exploration program along the western prospect of the Quebec Lithium Project, located in the heart of the Eeyou Istchee James Bay territory.
The Company's Quebec Lithium Project is situated near notable lithium occurrences, including Patriot Battery Metals' Shaakichiuwaanaan Project (formerly known as the Corvette Project) and Winsome Resources' Cancet Discovery. Fieldwork for 2024 began northeast of the recent mineralized pegmatite discovery and quickly progressed to identify a source for the spodumene found in till samples and boulders. The program included fill-in till sampling (with closer spacing), boulder prospecting, mapping, trenching, and channel sampling, with overburden clearing at the newly identified boulder field.
Recent work with an excavator has uncovered large areas of pegmatite dikes beneath the overburden. The most recent trenching results revealed significant lithium content, with widths of up to 10.5 meters, including
The company looks forward to receiving analytical results from Phase II drilling at the Western Prospect in the coming weeks along with spodumene grain counts for the full complement of 692 till samples collected in 2024. Renewed trenching and drill target definition will commence in preparation of the 2025 field season.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that is committed to advancing its highly prospective lithium properties in Quebec, Canada and cobalt properties in Idaho, United States. In addition, the Company owns the Baner gold project in Idaho County (optioned to Prestwick Capital Corporation) and the Champagne polymetallic project in Butte County near Arco. The Company's shares trade on the CSE under the trading symbol "LTHM", on the OTCQB under the trading symbol "CHELF", and on the Frankfurt Stock Exchange under the symbol "1QB0". Champion Electric strives to be a responsible environmental steward, stakeholder, and contributing citizen to the local communities where it operates, taking its social license seriously, employing local community members and service providers at its operations whenever possible.
ON BEHALF OF THE BOARD OF CHAMPION ELECTRIC
"Jonathan Buick"
Jonathan Buick, President, and CEO
To learn more, please visit the Company's SEDAR profile at www.sedarplus.ca or the Company's corporate website at www.champem.com.
For further information, please contact:
Investor Relations and Communications
Phone: (+1) 416-567-9087
Email: nkonkin@champem.com
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release. This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by management of the Company, including closing of the Transactions and the prospectivity of the Projects for lithium. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226563
FAQ
What is the value of Rio Tinto's acquisition of Arcadium Lithium?
How does Rio Tinto's acquisition affect Champion Electric Metals?
What recent exploration progress has Champion Electric made in James Bay, Quebec?
What are the recent trenching results from Champion Electric's Quebec Lithium Project?
When will Champion Electric release analytical results from Phase II drilling?
