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As Lithium Is Seen Reaching Higher Prices In 2021, First Energy Metals Limited (OTC: ASKDF) Will Begin Phase 1 Exploration Work Next Week On Its Recently Acquired Augustus Lithium Exploration Property In Quebec

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As analysts see lithium gaining-in-demand competition by EV vehicle makers and a 10% price hike in 2021, First Energy Metals Limited (OTC:ASKDF) announces today (February 2, 2021) that it will begin Phase 1 exploration work next week on its recently acquired Augustus Lithium Exploration Property in the red hot mining market of Quebec near Val-d'Or. Phase 1 includes prospecting, mapping and sampling of known lithium prospects on the property.

stockmarketpress.com features specialized coverage of related stocks in the lithium metals mining industry such as First Energy Metals Limited (OTC:ASKDF), Piedmont Lithium Limited (NASDAQ:PLL), Lithium Americas (NYSE:LAC), Livent (NYSE:LTHM), Pilbara (OTC:PILPF), American Battery Metals (OTC:ABML), Tesla (NASDAQ:TSLA), Albemarle (NYSE:ALB), Sociedad Quimica y Minera (NYSE:SQM) and Power Metals (OTC:PWRMF).

As Lithium Is Seen Reaching Higher Prices In 2021, First Energy Metals Limited (OTC:ASKDF) Will Begin Phase 1 Exploration Work Next Week On Its Recently Acquired Augustus Lithium Exploration Property In Quebec.

First Energy Metals Limited’s (OTC:ASKDF) Phase 1 scope of work at the Augustus Lithium Property in Quebec it recently acquired includes historical surface sampling results on three known historical lithium and silver prospects, to develop future exploration projects and to confirm the location of historical drill holes. The Company has already acquired data for 62 drill holes with over 10,000 meters drilling carried out on the property since the early 1950's. As Lithium Is Seen Reaching Higher Prices In 2021, First Energy Metals Limited (OTC:ASKDF) Will Begin Phase 1 Exploration Work Next Week On Its Recently Acquired Augustus Lithium Exploration Property In Quebec.

Lithium Heightened Demand By EV Vehicle Makers Spurs Mining Flurry In Quebec

First Energy Metals Limited's (OTC:ASKDF), a Canadian minerals exploration company, announcement today of its Phase 1 exploration work at the Augustus Lithium Property it recently acquired comes amidst peak activity of lithium mining in the Quebec area and a rebound seen by analysts in lithium pricing — as it is an essential ingredient in lithium-ion rechargeable batteries in electric vehicles. Car markers such as Tesla Inc. (NASDAQ:TSLA) see the urgency in finding more lithium sources as electric cars win more market share. UBS believes that electric vehicles will represent up to 40% of all new car sales by 2030. As a result, lithium demand is expected to skyrocket.

Against that bright background, First Energy Metals Limited (OTC:ASKDF) is now moving aggressively to begin next week Phase 1 exploration work on the Augustus Lithium Property it acquired. The goal of the company is to acquire a technology and precious metals portfolio by identifying, acquiring and exploring North American mineral deposits.

Its strategy is also to source joint venture partners to finance future exploration, create shareholder value and advance projects through prospecting and early-stage exploration. As Lithium Is Seen Reaching Higher Prices In 2021, First Energy Metals Limited (OTC:ASKDF) Will Begin Phase 1 Exploration Work Next Week On Its Recently Acquired Augustus Lithium Exploration Property In Quebec.

First Energy Metals Limited (OTC:ASKTF) entered into the option agreement to acquire a lithium exploration property in Landrienne & Lacorme-Townships in Quebec. It consists of three non-contiguous claim groups located some 40 kilometers northwest of Val D'Or in Quebec. It says that the geology and mineralization of the site is similar to the Quebec Lithium mine, the Company said. There are also several mines nearby, including the Mine Quebec Lithium and Authier Lithium, owned by Sayona Mining of Australia, and others.

Lithium-Ion Battery Market Seen Reaching $129.3 Billion By 2027

Allied Market Research sees the lithium ion battery market reaching $129.3 billion by 2027, growing at a CAGR of some 18% from 2020-2027. Lithium ion batteries are rechargeable with high-energy density and are used in portable equipment. They are critical for electric EV cars, electronics, smartphones, PC computers and commercial construction equipment, according to the Allied Market Research report.

Quebec Emerges As Center Of Lithium Mining

Quebec is emerging as a center of lithium mining, given its abundant mineral resources. It is also located close to major U.S. and European electric vehicle markets. Quebec is also home to major mining concerns and to first class infrastructure. In this region, ASKDF said, there are more than 50 million tons of at 1% lithium oxide. As Lithium Is Seen Reaching Higher Prices In 2021, First Energy Metals Limited (OTC:ASKDF) Will Begin Phase 1 Exploration Work Next Week On Its Recently Acquired Augustus Lithium Exploration Property In Quebec.

Source: Stock Market Press

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