Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) is focused on capturing the Lithium market and has four projects currently on the go.
Equitorial has two brine projects in the United States and two hard rock projects located in Canada.
Their North West Territories project is a large pegmatite dyke, one of the largest in Canada, noted CEO Jack Bal.
That location has produced Tantalum, which is a type of hard rock called LCT. It is rich in Lithium, Tantalum and Caesium. The company conducted some exploration work in 2016/17 and plan to do a small drill program on that property later in August/September, 2018.
Their second property is located in Southern Manitoba and is home to their Cat Tail Lithium project.
“We did an exploration drill program and were very successful. We feel we’ve hit probably one of the largest, thickets, pegmatite dykes anywhere in that area. We hit almost 20-40 metres of continuous pegmatite,” said Bal.
They are also in the process of announcing another drill program, which could commence this summer (August 2018) in Manitoba.
“Lithium is one of the major components for Lithium Ion batteries and those are the batteries that are going into electric vehicles. It’s a battery that can generate a lot of voltage and horsepower and charge in a short period of time,” he said.
Bal predicts that as the number of electric vehicles hit the market, the amount of Lithium that is required to build the batteries will see an exponential increase in demand.
“The price of Lithium has gone up by almost 400 per cent in the last three years and we expect it to go higher,” said Bal. “There’s a lot of demand for Lithium and if you can find a project where you can find a large resource and very high grade, it’s a good chance it will get financed and become a mine, so that’s our real focus, is to capture the Lithium market.”
Equitorial’s Manitoba property is the closest to something like that at the present time.
That property had a historical mine on it already and based on their initial results from their first drill program they are extremely encouraged.
More info about Equitorial Exploration can be found at equitorialexploration.com