News Release
Carmakers Accelerate Push to Secure Raw Battery Materials
MarketJar
As the demand for electric vehicles (EVs) continues rising around the world, carmarkers are working harder to find the raw materials required to make EV batteries. Tesla has signed a number of supply contracts to ensure a steady supply of nickel and lithium, including agreements with the BHP Group and Core Lithium of Australia and Ganfeng Lithium of China. Panasonic Holdings, a supplier to Tesla, has also started construction on a new lithium battery factory in Kansas, which is expected to cost $4 billion. Mercedes recently reached an agreement with Rock Tech Lithium to secure a supply of high-grade lithium hydroxide that will allow the company to manufacture 150,000 electric vehicles. The partnership is an integral part of Mercedes' effort to vertically integrate and localize its electric vehicle supply chain. General Motors has also made a move for the mining space, announcing a $650 million investment into Lithium Americas Corp. to accelerate the development of the Thacker Pass project in Nevada, which has the potential to be North America’s largest lithium source. Lithium Americas began construction at Thacker Pass in March and is targeting first production in H2 2026. Of course, it isn’t just EV makers that require lithium. According to the International Energy Agency (IEA), global demand could increase over 40 times by 2040 if countries stick to their Paris agreement targets to reduce planet-heating emissions. In order to boost domestic supply chains and increase the number of producing lithium properties in North America, both the US and Canadian government are investing billions. The US Department of Energy is investing $2.8 billion in grants to expand domestic manufacturing of batteries for EVs and the electrical grid, while Canada’s 2022 federal budget has set aside $3.8 billion in funding for critical minerals development. A Mining Company Well-Positioned to Capitalize on North America's Growing Demand for Lithium Despite the fact that the US only supplies 1% of the world's lithium supply, the most of which comes from Albemarle's Silver Peak mine, more projects are advancing thanks to government efforts to boost supply. Pan American Energy Corp. ( CSE:PNRG ) ( OTC:PAANF ) is a North American mining exploration company focused on expanding the lithium supply chain by buying, exploring, and developing lithium properties. The company has three promising assets in top mining jurisdictions that are located in close proximity to some of the most exciting lithium discoveries in recent years, including its Horizon Lithium Project, which adjoins American Battery Technology’s Tonopah Flats project, one of the largest known lithium deposits in the US with an estimated 15.8 million tons (Mt) of LCE, and its Big Whopper Project, which is adjacent to Avalon Advanced Materials’ Big Whopper project in Ontario, a deposit with pegmatite reserves of 8.4 Mt grading 1.408% lithium oxide (Li 2 O). On April 25, Pan American announced that five of the eleven fully-funded drill holes have been completed and has begun preparing for the Phase Two Program. Pan American Energy also provided an update on the fully funded Phase 1 drill program at its Horizon Lithium project in Nevada. The first five drill holes revealed broad zones of mineralization with values exceeding 2,040 ppm. The Company completed the eleven hole Phase One drilling program on April 20, 2023, and is now ready to begin the eleven hole Phase Two drilling program. Horizon Lithium, which borders American Battery Technology's Tonopah Flats Project (15.8 million tonnes inferred lithium carbonate equivalent), has lithium-bearing horizons and the potential for a significant lithium deposit in the Siebert Formation. With each drill hole, Pan American is seeing increasing thicknesses of potential lithium-bearing claystone as drilling approaches the anticipated center of the basin. Not to mention, the base of the Siebert Formation hasn’t been encountered yet meaning tremendous opportunity for program expansion in future exploration. The Horizon Project consists of 839 claims spanning 7,015 hectares and is located just 7.5 km from Tonopah, Nevada. The project is prospective for near-surface claystone lithium based on regional peer analysis which indicates lithium is weakly bound to the clays, unlocking conventional mining methods including open pit. Pan American Energy and Avalon Advanced Materials Inc. also recently completed a collaborative magnetic survey partnership project at the Big Mack and Big Whopper Project near Kenora, Ontario. EarthEx Geophysical Solutions completed the project on schedule and on budget. The magnetic survey is expected to have 725 line-km with a line spacing of 25 m and a tie line spacing of 250 m. Pan American and Avalon will benefit from a better understanding of the structural characteristics and stress/strain of the emplaced pegmatites in the Separation Rapids area as a result of the partnership between industry and academia on this project. Pan American plans to partner with EarthEx in the future to conduct drone-borne gamma-ray spectrometry, LiDAR, and high-resolution air photography. For more information on Pan American Energy Corp. ( CSE:PNRG ) ( OTC:PAANF ) and its projects, please visit this link or the company’s website. Disclaimer 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Pan American Energy Corp. Market Jar Media Inc. has or expects to receive from Pan American Energy Corp.’s Digital Marketing Agency of Record (Native Ads Inc.) one hundred and ninety-one thousand, eight hundred Canadian dollars for 26 days (20 business days). 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. 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Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Pan American Energy Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. 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These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Pan American Energy Corp.’s industry; (b) market opportunity; (c) Pan American Energy Corp.’s business plans and strategies; (d) services that Pan American Energy Corp. intends to offer; (e) Pan American Energy Corp.’s milestone projections and targets; (f) Pan American Energy Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Pan American Energy Corp.s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Pan American Energy Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Pan American Energy Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Pan American Energy Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Pan American Energy Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Pan American Energy Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Pan American Energy Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Pan American Energy Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Pan American Energy Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Pan American Energy Corp.’s business operations (e) Pan American Energy Corp. may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, Pan American Energy Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Pan American Energy Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Pan American Energy Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Pan American Energy Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Pan American Energy Corp. or such entities and are not necessarily indicative of future performance of Pan American Energy Corp. or such entities. Contact Details James Young +1 800-340-9767 campaigns@pressreach.com Company Website https://pressreach.com
April 25, 2023 09:00 AM Eastern Daylight Time
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