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The Fuel Behind The Li-Ion Battery Revolution

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Weekapaug Lithium
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Lithium Demand to Gain $42 Billion By 2030

May 16, 2022 (Bloomberg) — The global lithium industry needs as much as $42 billion of investment by the end of the decade in order to meet demand for the crucial battery-making material, with attempts to build supply chains outside of China subject to much higher costs, according to a data and market-intelligence provider.

91% of Canada’s Lithium is imported by four countries, and over-reliance on foreign Lithium supplies represents an existential threat to North America’s energy strategies. 

Canada has an estimated 2.9 million tonnes of underexploited Lithium resources, and Weekapaug Lithium Limited, currently preparing first-stage exploration, is well-positioned to capitalize on the rising global demand.

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The demand for lithium is expected to increase significantly in the coming years, driven by the growth of the electric vehicle (EV) market and the expansion of renewable energy storage systems. According to a report by BloombergNEF, the global demand for lithium is expected to increase from 300,000 metric tons per year in 2020 to 1.5 million metric tons per year in 2030.

Nakina Property Overview

The Nakina Lithium project is road accessible via the seasonal Maun Lake forest access road. The project is located approximately 90km north of the town of Geraldton and 300km northeast of Thunder Bay.

The Nakina Property covers 7,390 hectares over 360 mineral tenures within the Northern Thunder Bay Mining Division of the western Archean Superior Province.

The Property is underlain by a 10 by 13km granitic body (the Maytham-Queenston lakes pegmatitic pluton) noted to contain lithium-bearing pegmatites in historical bedrock mapping and minerology reports. The project is located within the highly advanced Green Technology Metals “Seymore Project” area and directly adjacent to their Superb Lake Lithium prospect.

To date, there has been no industry or systematic exploration coverage over the claim area, making for a highly prospective grassroots discovery project.

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