GEMC Eyes Stake in Alberta Lithium Project

Global Energy Metals Corporation

Global Energy Metals Moves to Acquire 19.9% Interest in Peace River Lithium Project

Global Energy Metals Corporation (GEMC), a Canadian critical mineral exploration and development company, has taken a significant step toward expanding its lithium portfolio. The company recently signed a non-binding letter of intent with NeoLithica to acquire a stake in the Peace River lithium project in Alberta, Canada.

Details of the Agreement and the Peace River Project

The agreement gives GEMC an 18-month option to purchase a 19.9% interest in the Peace River lithium project for C$1.5 million, a combination of cash and shares. This potential acquisition marks a significant move by GEMC as it seeks to secure a stake in one of Canada’s promising lithium projects.

Located approximately 500 km northwest of Edmonton, the Peace River lithium project is a lithium brine deposit. The project has an inferred resource estimate of 10 million metric tonnes (mt) of lithium carbonate equivalent. The deposit is seen as a significant resource in Canada’s growing lithium sector, essential for the production of battery-grade lithium compounds used in electric vehicle (EV) batteries.

Future Plans for the Peace River Lithium Project

NeoLithica, the project’s developer, is planning to commission a preliminary assessment following the completion of demonstration pilots in early 2025. The aim is to convert the extracted lithium concentrate into battery-grade lithium compounds, which is key to meeting the growing demand for lithium in the energy transition and EV industries.

With the global push for cleaner energy and the demand for EVs, lithium projects like the Peace River lithium deposit are increasingly seen as crucial to the future of energy storage and transportation. GEMC’s involvement in the project could strengthen its position in the critical minerals sector, particularly as lithium remains in high demand due to its role in battery technologies.