Let's talk about lithium, a vital component used in the production of lithium batteries. Did you know that lithium batteries make up the largest share of the global lithium market, which was valued at $4.6 billion in 2021? And the market is expected to grow at a compound annual growth rate of 19% from 2023 to 2028. That's a significant increase!

Northern Ontario mining industry set to play an important role in the province's critical minerals strategy as a supplier of nickel, cobalt, and lithium to southern Ontario's auto industry. Historically, Northern Ontario has not seen much mining of lithium, but recently, several exploration companies have set their sights on long-ignored deposits of lithium-bearing pegmatites in the northwest. In fact, LG Energy Solution, a South Korean lithium-ion battery maker, is looking at Northern Ontario to secure its raw material supply chain.

Patriot Battery Metals: Big on Lithium

One of the companies that's big on lithium is Patriot Battery Metals Inc. (TSX-V: PMET) (ASX: PMT) (OTCQX: PMETF). It's an exploration and development company working to advance its Corvette lithium property, which covers over 200 square kilometers in Quebec's James Bay region. The company began trading on the TSXV in July 2022, and its year-to-date performance is an amazing 86.43 percent with a market valuation of C$1.136 billion and a share price of C$ 2.36.

Patriot has been busy exploring the Corvette project and building out its team. In fact, it recently announced its winter 2023 drill program, which is planned to cover at least 20,000 meters using five drill rigs. Additionally, Patriot has added two ESG professionals to its management team, showing a commitment to environmental, social, and governance practices. In January, the company shared assays that included the highest-grade lithium intercept so far at Corvette: 156.9 meters at 2.12 percent lithium oxide, including 25 meters at 5.04 percent and 5 meters at 6.36 percent.

Rock Edge Resources gears up.

Rock Edge Resources Ltd. (CSE: REDG), a company that's making waves in the lithium industry. They're focused on exploring and developing lithium deposits in Canada to meet the increasing demand for electric vehicles and energy storage systems. Their growing portfolio includes three projects in Ontario, one of which is the Superb Lake property. It covers over 2,000 hectares of land and has favorable geological settings that suggest it may contain valuable minerals like lithium, gold, and rare metals. Rock Edge plans to conduct geophysical and geochemical surveys, prospecting, trenching, and sampling to explore the area further, followed by a detailed drilling program if the initial results are promising. As of April 5, 2023, Rock Edge Resources Ltd. (CSE: REDG) stock is trading at around $0.08, and the company has 14,250,001 shares outstanding.

Rock Edge Resources Ltd. has two more lithium projects, Maun and Terrier Lithium Projects, alongside the Superb Lake project. The Maun Lithium Property, located near Superb Lake, has high concentrations of lithium recorded in a surface channel. The Terrier Lithium Property has several pegmatite occurrences suggesting fractionation from a fertile parental granite, making both properties promising for rare-element pegmatites.

In exciting news, Rock Edge Resources has signed a letter of intent to acquire all or substantially all of the assets of 1403437 BC LTD, including the Val-d’Or East Mineral Claims in Quebec, Canada. The Property covers an area of approximately 5,292 hectares, adjacent to other significant lithium properties. With Quebec expected to become a significant lithium production hub, this acquisition further solidifies Rock Edge's position in the lithium space.

In conclusion, the lithium market is expected to grow rapidly in the coming years due to the increasing demand for EVs and energy storage systems. Rock Edge Resources Ltd. is a company that is well-positioned to take advantage of this growth, with promising exploration results and a focus on developing its lithium deposits.

Disclaimer: Please be aware that this is not financial advice and that you should conduct due diligence before investing. Rock Edge Resources Ltd is a paid marketing client of Machai Capital (thegoldstocks.com).

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Written By: Thegoldstocks.com

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