Force Energy Corp. (FORC) is “One to Watch”

By @ibtimes on

Force Energy Corp., based in Denver, Colorado, is one of a handful of intelligent companies getting into lithium production in North America and is also a developer of hydrocarbons.

The cornerstone of the emerging hybrid and electric vehicle market, which stands to be huge globally, and much of the personal and portable technology modern civilization runs on, requires lithium for the lithium-ion (Li-ion) batteries that sustain or supply power. Other end markets like ceramics, especially industrial process ceramics and the like, as well as glass, lubricating greases and other products, make lithium an extremely hot commodity when one considers the global resource distribution and accessibilities.

Force Energy recognizes the strategic importance of domestic lithium production signified by the 2009 American Recovery and Reinvestment Act DOE allocation of $2.4B in grants to fund domestic Li-ion infrastructure development and is rapidly advancing its current project base.

The primary project currently under development is the 128-acre, Zoro 1 Lithium Property near the eastern shore of Wekusko Lake in west-central Manitoba, Canada where the Company maintains a 100% working interest (WI). The site hosts a series of seven prominent pegmatite dykes, the westerly most of which is some 6 meters high and 27 m wide, stretching for a length of 183 m. Collectively the resource represents a reserve estimate of some 1.728M undiluted tons at 0.945% Li20 (lithium oxide) based on extant and more recent drill and trenching data.

The other project under development is the Hayter Well, in which the Company maintains a 50% WI. The well was spudded back in January of 2007 and has produced well log data indicating a 4-5 meter thick gas zone and 2 meter pay zone of oil in the Dina Sand. Recent work by County Line, a 3D seismic program that cost some $650k and which was based on a geological model generated from data on the previous 16k-barrel producing well, has validated a much larger, multi-well anomaly. The nature of the large anomaly indentified in the 3D seismic program suggests that the previously tapped anomaly exists to a much larger extent on the property than previously thought.

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