LiCo Energy Metals ‐ Second Drill Rig Planned ‐ Drilling Its Two Cobalt Properties (Teledyne and Glencore Bucke) Near Cobalt Ontario.
1220‐789 West Pender St
Vancouver BC V6C 1H2
Phone : (236) 521‐0207
LiCoEnergyMetals.com
PRESS RELEASE
LiCo Energy Metals ‐ Second Drill Rig Planned ‐ Drilling Its Two Cobalt Properties
(Teledyne and Glencore Bucke) Near Cobalt Ontario.
October 18, 2017: Vancouver, British Columbia; ‐ LiCo Energy Metals Inc. (“the Company“ or “LiCo”) TSX‐
V: LIC; OTCQB: WCTXF is pleased to update its shareholders on the current diamond drilling program for
its Teledyne and Glencore Bucke Cobalt Properties situated in Bucke and Lorrain Townships, 6 km east‐
northeast of Cobalt, Ontario, as originally announced on September 12th, 2017.
The Company has completed a total of 10 holes for 775 metres testing the Main and Northwest zones
on the Glencore Bucke property. Cobalt camp style mineralization has visually been noted in every drill
hole that the Company has completed. The historical drilling program outlined two separate vein
systems hosting significant cobalt and silver values. The Main Zone, currently is 152 m in length, and the
Northwest Zone, measuring 70 m in length. The Main Zone had a north‐south strike, which is
hypothesized as the southern extension of the #3 vein from the Cobalt Contact Mine located
immediately to the north of the Property (Bresee, 1982).
The Company is adding additional meterage to the diamond drilling programs than what was originally
planned for the Glencore Bucke and Teledyne Properties. LiCo is expecting the drilling contractor to
provide a second diamond drill rig later this week. The current drill rig will remain drilling on the
Glencore Bucke property, while the second drill rig will be used to test the drill targets identified by
management on the Teledyne property.
Tim Fernback, President & CEO of LiCo, states “We are encouraged with the visual results that have
been noted in the drill core to date. Based on the visual results, LiCo has decided to increase the overall
planned drill program in the area. The samples from the initial drill holes have recently been sent to the
laboratory for analysis and LiCo is anxiously waiting to receive the results.”
The Teledyne and Glencore Bucke Properties are managed by Joerg Kleinboeck, P.Geo. (LiCo’s QP), and
supervised by Mr. Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo. “The
goal of this current drilling program will be to confirm the results of historical drilling on the properties
and to further expand the resource potential up and down dip and along strike.” states Mr. Melrose.
Historically, Teledyne Canada Ltd. completed 36 diamond drill holes totaling 3,323.3 m on the Glencore
Bucke Property, and a combined 28 surface and underground diamond drill holes totaling 3,160.8 m on
the Teledyne Property.
Diamond drilling completed by Teledyne Canada Ltd. on the Glencore Bucke Property delineated two
zones of mineralization measuring approximately 150 m and 70 m in length. The most significant results
include 2.12% Co over 1.01 m in diamond drill hole T‐18, 0.62% Co over 2.74 m in diamond drill hole T‐
23, 0.66% Co over 0.73 m, 1.68% Co over 0.46 m in diamond drill hole T‐30, and 0.36% Co, 41 oz/t Ag
over 0.58 m in diamond drill hole T‐37 (Bresee, 1982).
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Diamond drilling by Teledyne Canada Ltd. on the Teledyne Property encountered two zones of
cobalt/silver mineralization extending onto the Property from the Agaunico Mine located to the north.
Historically, the Agaunico Mine produced 4,350,000 lbs. of cobalt and 980,000 oz. of silver during the
mining boom of the early 1900’s (Cunningham‐Dunlop, 1979). A total of 6 surface drill holes followed by
22 underground diamond drill holes totaling 1,879.7 m was completed by Teledyne Canada Ltd. Both
the surface and underground drilling programs indicated the presence of significant cobalt
mineralization extending from the past‐producing Agaunico Mine onto the Teledyne Cobalt Property for
a strike length of 152.4 m. In addition, the drill program encountered a second zone with a strike length
of 137.2 m. The most significant results included 0.644% Co over 16.9 m in diamond drill hole UT‐2,
0.74% Co over 8.7 m in diamond drill hole UT‐3, and 2.59% Co over 2.4 m in diamond drill hole UT‐18
(Bresee, 1981). The historical reported intersections represent core lengths, and not true widths.
The drilling will be conducted as part of LiCo’s flow thru financing and work commitments for the
Glencore Bucke Property.
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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:
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 production. 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).
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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
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.