CHARTS: EV battery metals bill sets new low as lithium, nickel, cobalt price slump continues
The raw materials bill for the average EV is now down to $510 compared to a peak of more than $1,900 at the beginning of last year.
Toronto-based Orefinders Resources is making plans to resample and compile 31,900 metres of historical drill core for its Knight gold project 70 km southwest of Kirkland Lake, in the Shining Tree district. The project includes several contiguous zones of mineralization which have now been consolidated into a single property by Orefinders.
Orefinders is making a $500,000 non-brokered financing to support its compilation work and further exploration at the property.
Orefinders CEO Stephen Stewart said if the company had to drill 31,900 metres on the property, the cost would be in the neighbourhood of $5 million. There are considerable savings to be had by compiling historical data.
Additional drilling will be done to validate assays from promising core. The company also plans some surface mapping.
(This article first appeared in the Canadian Mining Journal)
