An emerging North American lithium operation is about to get bigger

Everyone knows the lithium market is growing, but new figures estimate that it will more than double in value in a decade’s time. [Open in your browser]( [Stockhouse.com]( [Investor Alert] [An emerging North American lithium operation is about to get bigger] An emerging North American lithium operation is about to get bigger --------------------------------------------------------------- [Visit the company website]( [Facebook]( [Twitter]( emerging North American lithium operation is about to get bigger) [LinkedIn]( [Email](mailto:?subject=An emerging North American lithium operation is about to get bigger&body= Jon Brown | The Market Herald Everyone knows the lithium market is growing, but new figures estimate that it will more than double in value in a decade's time. Lithium had a value of US$5.2 billion in 2022, and it is projected to increase by US$12 billion from 2023 to 2032, with an anticipated compound annual growth rate (CAGR) of 8.9 per cent. This comes via a report from research firm Market.us released in late April. The report went on to say that the market is expected to record the highest CAGR among other markets. The rising number of electric vehicles and the electrification of vehicles is resulting in the rising demand for lithium-ion batteries and thus eventually driving the growth of the market globally. For many investors, news like this puts eyes on a junior mining company that is busy developing critical mineral and precious metal projects in both Canada and the United States. That company is [Rover Metals Corp. (TSXV:ROVR)]( whose team just announced that it had it received an exploration drill permit from the Bureau of Land Management to further exploration at its Let's Go Lithium project in Nevada. [SEE COMPANY PROFILE]( The [Let's Go Lithium claystone property]( is 24 sq. km. in size. The company has verified high-grade lithium surface samples at the project. The BLM permit allows for up to 30 drill holes to a depth of up to 90 metres per hole. The reverse circulation (RC) drill program will follow up on high-grade lithium surface samples taken on the project in 2022. Highlights of these surface grab samples (ALS Laboratories) include: 710 ppm Li, 780 ppm Li, and 910 ppm Li. Rover's additional surface grab samples analyzed with a handheld laser induced breakdown spectroscopy include 1,218 ppm Li, 778 ppm Li, 724 ppm Li, and 707 ppm Li. Management believes Let's Go Lithium is a well-timed, low-cost exploration development project in an optimal area code. It is currently reviewing proposals from drilling companies for Let's Go Lithium's maiden drill program. Source: Rover Metals Corp. Located 12 km from the historic Franklin Wells hectorite (a rare lithium smectite mineral) deposit, the property sits in a large basin of clay-rich Tertiary lakebed sediments, the major host rock for the other lithium claystone deposits in the southwest Nevada lithium jurisdiction. Mining at Franklin Wells dates to the 1920s. The project includes green energy infrastructure of hydro power lines on site, direct road access, and a nearby town with a readily available work force. The regional geology of the Amargosa Valley is a basin-and-range structure with the Greenwater Range and Funeral Mountains to the west and the Amargosa Desert to the east. The Greenwater / Funeral mountains are fault-controlled with narrow interior valleys and are bounded by broad, coalescing alluvial fans. The Greenwater/Funeral mountains are composed of lower Paleozoic marine and metamorphic rocks. LGL is located in a large basin of clay rich Tertiary lakebed sediments, the major host rock for the other lithium claystone deposits in the southwest Nevada lithium jurisdiction. In a media release on this news, the company's CEO, Judson Culter stated that the year has started off well for Nevada claystone lithium projects. [INVESTOR UPDATES]( "In Jan-2023, the Rhyolite Ridge project received a USD700MM conditional loan from U.S. Department of Energy Loan Programs Office. In Jan-2023, American Lithium announced a successful pilot plant processing of Lithium Carbonate from its TLC project. In Feb-2023, General Motors announced its intent to invest US65MM into the Thacker Pass project. Reno, NV, also happens to be home to the Tesla battery factory. Management at Rover Metals believes that the LGL project is a well-timed, low cost exploration development project in the right area code. Management is currently reviewing proposals from drilling companies as we plan on embarking on our maiden drill program at the LGL project, now that we have our permit. Exact start dates will be the subject of a future news release." Last year, the Asia-Pacific region dominated the market with the highest revenue share of 38.8 per cent. This provides an impetus for operators in North America (such as Rover Metals) to deliver results from domestic projects. North America held the second position in revenue share last year. Add to this the recent news that Chile, the world’s second largest producer of lithium, and country with the largest lithium reserves [announced its intention to nationalize its lithium industry](. A savvy investor will look at the knock-on effects. For example, Albemarle (owner of the Silver Peak Lithium Brine Mine in southwest Nevada) is one of the largest stakeholders in Chilean lithium production. Is it logical to think Albemarle may start looking in their backyard in Nevada for future expansion opportunities? As if investors need reminding, the continuous increase in the advancement and development of rechargeable batteries for mobile phones, laptops, and EVs has in turn, driven demand for more lithium-ion products, which leads to further growth in the lithium-ion battery market. This all spells good news for companies such as Rover Metals Corp. as it advances its projects in this hot sector. To keep up with regular updates, visit [rovermetals.com](. [VIEW COMPANY WEBSITE]( Disclaimer | The Information contained here is a paid advertisement and is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Prior to making any investment decision, it is recommended that readers consult directly with the public company and seek advice from a qualified investment advisor. The corporate information included in this was provided by Rover Metals Corp.in order to help investors learn more about their company. The information provided is purely and solely the responsibility of Rover Metals Corp. who has reviewed and approved all material for accuracy. Stockhouse does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. Investing in securities is speculative and carries risk. Persons who wish to buy or sell securities should only do so at their own risk and in consultation with their registered securities advisers. Stockhouse does not own stock in Rover Metals Corp.For full disclaimer information, please click [here](. The Information in a Stockhouse Publishing Ltd. Stockhouse Alert is a paid advertisement and is for the viewers information only. 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