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Desert Lion Energy Inc.
Summary
| Project: | Rubicon Lithium | |
|---|---|---|
| Deposit: | Rubicon Lithium | |
| Location: | Namibia | |
| Commodities: | Lithium | |
| Date: | 11/1/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-11-2018: Desert Lion Energy Inc. announces a PEA report for its Rubicon Lithium deposit at the Rubicon Lithium project. PEA results incl. pre-tax NPV of US $144M (8%), IRR of 29%. TORONTO, Canada, November 1, 2018 – Desert Lion Energy Inc. (TSXV: DLI) ( | |
| Resources: | (Resource): 3006.9Kt @ 0.63% Li2O (Ind.), 5830.4Kt @ 0.53% Li2O (Inf.) | |
| CP/QP: | [Overall Report]: Robert Duinker, Marianne Utiger, Gary Fowler (MSA Group Pty Ltd.) | |
| ABSTRACT: | TORONTO, Canada, November 1, 2018 – Desert Lion Energy Inc. (TSXV: DLI) (OTCQB: DSLEF) (“Desert Lion” or the “Company”) is pleased to report the results of the Company’s Preliminary Economic Assessment (“PEA”) for its Namibian Lithium project (“Project”). The PEA covers mining, concentrate and lithium carbonate production. The PEA was prepared by independent consultants, Hatch Ltd (“Hatch”) and The MSA Group (Pty) Ltd. (“MSA”). Tim Johnston, CEO of Desert Lion commented, “We are very pleased with the results of the Preliminary Economic Assessment which confirm management’s belief in the benefits associated Page 2 with the Project’s at or near surface mineralization, proximity to high quality existing infrastructure and the low-cost operating environment in Namibia. The Preliminary Economic Assessment demonstrates the compelling economics of the Project, highlighted by low capital costs, low operating costs and high earnings.” The Preliminary Economic Assessment details the production of lepidolite (lithium) concentrate at the mine site with final processing of such concentrate into battery grade lithium carbonate near the Port of Walvis Bay. The mine site is located approximately 20 km from the town of Karibib and approximately 220 km from the major Port of Walvis Bay connected via the national highway and state-owned railway. The vertically integrated plant encompasses the development of a mine, concentrator and lithium carbonate plant capable of producing 20,000 tonnes per year of battery grade lithium carbonate. By-products include 35,250 tonnes of petalite concentrate per year and 290 tonnes of tantalum concentrate per year. The development plan will continue to be assessed during the next stage of work to be completed by the Company which is planned to include further exploration results and an assessment of the lithium market conditions. | |
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