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LiCo Energy Metals - Announces Clarification of January 3rd, 2018 News Release
(via TheNewswire) January 4 th , 2018 / TheNewswire / Vancouver, British Colum...
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[{"type":"text","content":"LiCo Energy Metals - Announces Clarification of January 3rd, 2018 News Release(via TheNewswire)\n \n \n\n\n\n \nJanuary 4th, 2018 / TheNewswire / Vancouver, British Columbia; - LiCo Energy Metals Inc. (\"the Company\" or LiCo\") TSX-V: LIC, OTCQB: WCTXF announces that at request of IIROC, wishes to clarify disclosures made in its January 3rd, 2018 news release. Specifically, LiCo wishes to clarify or retract the following:\n\n\n \nIn the title, the Company has retracted \"Commercial Grade\" as no technical report supporting an economic study by either a PEA, PFS of FS has been filed on SEDAR. Any additional references to \"commercial grade\" are similarly retracted for the same reason.\n\n \n \nOn the Teledyne Cobalt Property, the Company completed a total of 11 diamond drill holes totaling 2,200 m in the fall of 2017. Drilling intersected cobalt mineralization on the Property which is consistent with historical grades but given that previously reported Intervals represent core lengths and not true widths, LiCo is unable to determine if the cobalt mineralization on the Property is consistent with historic widths.\n\n\n \n\n\n\n \nFurther clarification of LiCo's Exploration Property Descriptions:\n\n\n \nChile Purickuta Lithium Project: \n\n\n \n\n\n1.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 and Chile itself holds 53% of the world's known lithium reserves (Source: Bloomberg Markets - June 23, 2017, \"Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says\"). As reported in The Economist (June 15, 2017 - A battle for supremacy in the lithium triangle), the Salar de Atacama has the largest and highest quality proven reserves of lithium. The combination of the desert's hot sun, scarce rainfall, and the mineral-rich brines make Chile's production costs the world's lowest. This together with a favourable investment climate, low levels of corruption, and the quality of its bureaucracy and courts makes Chile a favourable place to conduct business. \n\n\n\n\n \nThe Company notes that wishes to retract its statement regarding its small size being a contributing factor to taking this project into production. Although the Company has received a legal opinion from a respected mining law f...