Welcome!

News Feed Item

Zone Enters Agreement for "La Corne Lithium Project"

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/17/14 -- Zone Resources Inc. (TSX VENTURE:ZNR) (FRANKFURT:7ZR) (the "Company') is pleased to announce that it has entered into an option agreement (the "Option Agreement") dated March 17th, 2014 (the "Effective Date") whereby Zone may earn a 100% interest in the 233 Hectare "La Corne Lithium Property" (the "Property").

The Property is located in La Corne county approximately 60 kilometres north of the renowned mining region of Val D'or, Quebec. The claims are adjacent to RB Energy's Quebec Lithium project, which completed the construction of their mine and processing plant in 2013 and is currently in the latter stages of commissioning before it enters the first stage of production. RB Energy's hard-rock lithium project has a planned production rate of 20,000 tonnes per annum and a proven reserve of over 6 million tonnes grading 0.92% Li2O.

About The Lithium Market

While much of the production of lithium in the past went into the processing of silica, the advent of modern electronics and specifically of lithium-ion battery technology has transformed the metal into one of the most sought after elements in the development of the technology industry. The glamour of products like laptops, tablets and cell phones has vaulted the production of lithium to the forefront of the mineral exploration industry - especially in the eyes of younger consumers. Lithium-ion batteries are not limited to use in technology however, as products such as portable drills and other cordless tools have also begun to utilize the technology to their advantage.

The emergence of power grid storage for technologies such as wind farms, hydro-electric, solar power and other mass power storage facilities, will also lead to an increase in Lithium demand. Excess power can be developed at these facilities and stored in massive lithium-ion batteries to be sold into the grid as demand increases or if there is an unforeseen disruption in production.

With the recent announcement from Tesla about the development of a "gigafactory" for power storage, the power-grid industry has received a major boost from one of the biggest players in the electromobilty industry. According to Adam Jones of Morgan Stanley, "by lowering the cost of energy-storage with its lithium-ion batteries, Tesla could accelerate the disruption of the electric utility business as it doubles its share of the global car market to about 1 percent." As consumers become less reliant on the local power supply companies, the demand for lithium-ion battery storage will increase and that will benefit not only the development of the electric car but also the whole of the battery industry.

President Charles Desjardins commented: "As a result of the increase in demand for lithium, management views this as a great opportunity for the Company and its shareholders."

Terms of the Agreement

Under terms of the Option Agreement, subject to TSX Venture Exchange (the "Exchange") approval, the Company has the option to earn a 100% interest in the Property by making $60,000 in cash payments to the Vendor and issuing 1,900,000 common shares over the next three years as follows:


----------------------------------------------------------------------------
Date                                   Cash Payment           Share Issuance
----------------------------------------------------------------------------
On the Effective Date                       $15,000                      Nil
----------------------------------------------------------------------------
On Exchange approval of the Option                                          
 Agreement                                      Nil    500,000 common shares
----------------------------------------------------------------------------
On or before the date which is One Year                                     
 from Exchange Approval                     $20,000    600,000 common shares
----------------------------------------------------------------------------
On or before the date which is Two                                          
 years from Exchange Approval               $25,000    800,000 common shares
----------------------------------------------------------------------------
Total:                                      $60,000  1,900,000 common shares
----------------------------------------------------------------------------

The Vendor will retain a 2% Net Smelter Royalty on the property upon completion of the terms of the Option Agreement.

About Zone Resources Inc.

Zone Resources Inc. is a Canadian mineral exploration and development company with projects in Canada.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary note:

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of pati...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...