LiCo Energy Metals – Recent Assay Results Have LiCo Intersect 0.55% Cobalt Over an Impressive
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone : (236) 521-0207
LiCoEnergyMetals.com
PRESS RELEASE
LiCo Energy Metals – Recent Assay Results Have LiCo Intersect 0.55% Cobalt Over an Impressive
5.00 m on its Glencore Bucke Property
December 6th, 2017: Vancouver, British Columbia; - LiCo Energy Metals Inc. (“the Company” or
“LiCo”) TSX-V: LIC, OTCQB: WCTXF is pleased to report assay results for diamond drill holes GB17-08 to
GB17-10 from the recently completed drill program on the Glencore Bucke Property located 6 km
northeast of Cobalt, Ontario. The Company would also like to provide an update on the recently
completed drilling program and a brief analysis of what has been determined to date by the Company.
A summary of the most significant results of the recent drill core assays are:
• GB17-10 0.55% Co over 5.00 m from 28.00 to 33.00 m.
• GB17-10 0.11% Co, 17.6 ppm Ag, 0.53% Cu from over 2.30 m from 81.0 to 83.3 m
As reported on the Company’s November 30th, 2017 news release, LiCo has recently completed its 2017
diamond drilling program on its Teledyne and Glencore Bucke Properties completing a total of 32 diamond
drill holes, drilling 4,100 m of core. This exploration work satisfies both its flow-through financing
obligations and the contractual obligations outlined in the recently acquired Glencore Bucke Property
from Glencore plc of Baar Switzerland (LSE: GLEN). The overall drilling program has confirmed and
extended the cobalt mineralization on each property and these results are consistent with historical
grades and widths in the overall Cobalt Camp. As reported previously, visual cobalt camp style
mineralization has been noted in every drill hole that the Company has logged to date.
On the Glencore Bucke Property, the Company has completed a total of 21 diamond drill holes totaling
1,900 m, testing the Main and Northwest zones. Additional base metal mineralization within and proximal
to the cobalt mineralization has also been intersected throughout the drill program. On the Company’s
adjoining Teledyne Property, a total of 2,200 m has been completed in 11 diamond drill holes and the drill
program is now complete. The analytical results for the Teledyne program have started to be received
and reported by the Company.
Tim Fernback, President & CEO of LiCo states that, “We have been extremely pleased with our results to
date and the exceptional work of our drilling team in Ontario. In this industry, it is very rare to design an
exploration program and to find exactly what you are looking for at depth. So far, the results we are
getting back from the assay lab are confirming the historic drill results and fit the model that we are
predicting to be at depth. We are excited about getting the remaining results back from the lab, and to
design our follow-up exploration program for 2018. With any luck, we will be closer to realizing our
corporate goal of putting this property into production with a great JV partner like Glencore.”
2
Additional base metal mineralization within and proximal to the cobalt mineralization has also been
intersected throughout the drill program at the Glencore Bucke property, which LiCo finds encouraging
as it has not been properly evaluated in the past for its full potential as accessory mineralization. “It is
very encouraging that the Glencore Bucke Property has continued to provide good grades and width of
cobalt mineralization based on the results that have been released to date” commented Dwayne Melrose,
Director and Technical Advisor of LiCo. Mr. Melrose further explains, “Conceptually, having strong copper
results could be significant to the overall economics of any potential mining operation. Copper is often
associated with cobalt deposits globally. If you combine the additional value that copper mineralization
may add to the value of the cobalt mineralization, it could increase the overall attractiveness of this group
of properties which is important to both LiCo and any future strategic partner.”
The results for diamond drill holes GB17-08 through to GB17-10 are summarized in Table 1 below.
Table 1: Summary of Diamond Drill Results
DDH From
(m)
To
(m)
Core
Length
(m)
Co
(%)
Ag
(ppm)
Cu
(ppm)
Zn
(ppm)
Pb
(ppm)
GB17-08 48.40 53.25 4.85 0.01 1.7 1547 122 5
Incl. 48.40 50.50 2.10 0.02 1.9 2345 206 2
GB17-09 60.50 61.75 1.25 0.13 5.4 4758 151 134
GB17-10 27.00 33.00 6.00 0.47 1.2 52 43 6
Incl. 28.00 33.00 5.00 0.55 0.8 7 32 2
81.00 88.60 7.60 0.04 5.9 1957 242 80
Incl. 81.00 83.30 2.30 0.11 17.6 5334 696 208
Incl. 82.3 83.3 1 0.25 13.8 4788 363 232
Incl. 88.40 88.60 0.2 0.13 18.1 11400 220 285
Note: Intervals reported in Table 1 represent core lengths and not true widths.
Qualified Person
The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck, P.Geo., (LiCo’s QP), and
supervised by Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo.
The overall drilling program will be conducted as part of LiCo’s flow through financing and work
commitments for the Glencore Bucke and Teledyne Properties.
3
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a Canadian based exploration company whose 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.
Glencore Bucke Cobalt Project, Cobalt, Ontario: The Company has entered into a property purchase
agreement to acquire a 100% interest from Glencore Canada Corporation (subsidiary of Glencore plc) in
the Glencore Bucke Property, situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario, subject
to a back-in provision, production royalty and off-take agreement. Strategically, the Glencore Bucke
Property consists of 16.2 hectares and sits along the west boundary of LiCo’s Teledyne Cobalt Project. The
Property covers the southern extension of the #3 vein that was historically mined on the neighbouring
Cobalt Contact Property located to the north of the Glencore Bucke Property. Diamond drilling in 1981
on the Glencore Bucke Property delineated two zones of mineralization measuring 150 m and 70 m in
length.
Ontario Teledyne Cobalt Project:
4
The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne Project located
near Cobalt. Ontario. The Property adjoins the south and west boundaries of claims that hosted the
Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of
cobalt and 980,000 oz. of silver. A significant portion of the cobalt that was produced at the Agaunico
Mine located along structures that extended southward onto property currently under option to LiCo
Energy Metals.
Chile Purickuta Lithium Project:
The Purickuta Project is located within Salar de Atacama, a salt flat encompassing 3,000 km2, being about
100 km long, 80 km wide and home to approximately 37% of the worlds Lithium pr oduction. The salar
possesses a very high grade of both Lithium (1,840mg/l) and Potassium (22,630mg/l and is close to power,
labour, communications, transportation and other infrastructure. The property of 160 hectares is
enveloped by a concession owned by Sociedad Quimica y Minera (“SQM”) and lies, significantly, within a
few kilometers of the property of CORFO (the Chilean Economic Development Agency) where its leases to
both SQM and Albermarle’s Rockwood Lithium Corp Together these two companies have combined
production of over 62,000 tonnes of LCE (Lithium Carbonate Equivalent) annually making up 100% of
Chile’s current lithium output. The unique characteristics of Salar de Atacama make finished lithium
carbonate easier and cheaper to produce than any of its peer group globally.
Purickuta is a smaller exploitation concession rather than a large exploration concession thereby
accelerating the task of taking the project to production once a measured reserve can be established.
Currently, the Chilean government retains ownership of lithium separate from other minerals and thus
production can only proceed upon receipt of a special lithium operation contract know as a “CEOL”. In
the future, it will be necessary for LiCo and partner to negotiate a production contract with CORFO
concurrently with completing any positive feasibility study. “Chile, which has one of the world's most
plentiful supplies of lithium, is pushing ahead with new policies to develop those reserves”. (Reuters Jan
2, 2017).
Nevada Dixie Valley Lithium Project:
The Company has an option to acquire a 100% interest, subject to a 3% NSR, on a large lithium exploration
project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The geologic setting and presence of lithium
in active geothermal fluids and surface salts in Dixie Valley match characteristics of producing lithium
brine deposits at Clayton Valley, Nevada and in South America.
Nevada Black Rock Desert Lithium Project:
The Company has entered into an option agreement whereby the Company may earn an undivided 100%
interest, subject to a 3% NSR, in the Black Rock Desert Lithium Project in southwest Black Rock Desert,
Washoe County, Nevada.
The Company is planning an exploration programs on a number of its properties over the next several
months. The technical content of this news release has been reviewed and approved Joerg Kleinboeck,
P.Geo., an independent consulting geologist and a qualified person as defined in NI 43-101.
On Behalf of the Board of Directors
Tim Fernback, President & CEO
5
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to,
comments that involve future events and conditions, which are subject to various risks and uncertainties.
Except for statements of historical facts, comments that address resource potential, upcoming work
programs, geological interpretations, receipt and security of mineral property titles, availability of funds,
and others are forward-looking. Forward-looking statements are not guarantees of future performance
and actual results may vary materially from those statements. General business conditions are factors that
could cause actual results to vary materially from forward-looking statements.