The company has identified a significant number of lithium occurrences in Quebec and is continuing to look for more opportunities in the area. Additionally, the company has also made a historic copper discovery in British Columbia. These acquisitions demonstrate GOAT Industries' commitment to investing in valuable resources that will drive the growth of the electric vehicle and battery metal industries.
Copper Project in British Columbia
Electric vehicles rely heavily on copper, the metal that powers their engines and keeps them going. From the winding of electric motors, the wiring that connects all the systems, to the charging infrastructure, copper is a fundamental element in the functioning of electric vehicles. The amount of copper used in an electric car is more than 4 times that of a traditional gasoline vehicle, making it a vital component in the shift towards a more sustainable future.
40+ Lithium Occurrences in Quebec
In Proximity: Patriot Battery Metals
Direct Lithium Extraction
GOAT has a Canadian license for a lithium solvent extraction technology from Ekosolve, a company based in Australia. The technology is a result of four years of research and development by the University of Melbourne's Chemical Engineering Department.
The technology is more cost-effective and efficient than other extraction methods, with high lithium yield rates and reduced operating costs. It also does not require evaporation ponds, making it more environmentally friendly.
Lithium, like copper, is a crucial component in the functioning of electric vehicles. It is the key element in the batteries that power the electric motors and store energy for the vehicle to use. The amount of lithium used in an electric car's battery is substantial, making it a vital component in the shift towards a more sustainable future.
Lithium-ion batteries are also used in other electronic devices like smartphones, laptops and power tools. The increasing demand for electric vehicles is driving an increased demand for lithium, making it an important commodity in the market.