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Infinity Lithium Corporation Ltd.
Summary
| Project: | San Jose | |
|---|---|---|
| Deposit: | San Jose | |
| Location: | Spain | |
| Commodities: | Lithium | |
| Date: | 11/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 29-11-2018: Infinity Lithium Corporation Ltd. announces a Scoping Study report for its San Jose deposit at the San Jose project. Scoping Study results incl. post-tax NPV of US $631M, IRR of 37%, 24yr LOM at the project. The Study referred to in this annou | |
| Resources: | (Resource, I+I): 111.3Mt @ 0.61% Li2O, 206ppm Sn | |
| CP/QP: | [Resources]: Patrick Adams (Cube Consulting Pty Ltd.) | |
| ABSTRACT: | The Study referred to in this announcement is a preliminary technical and economic investigation of the potential viability of the San Jose Lithium-Tin Project. It is based on low accuracy technical and economic assessments, (+/- 35% accuracy) and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage; or to provide certainty that the conclusions of the Study will be realised. Infinity is in Joint Venture with Valoriza Mineria SA, a subsidiary of SACYR SA. Infinity have independently engaged the services of Wave International Pty Ltd (‘Wave’) to assess the technical and economic viability with regards to producing battery grade lithium hydroxide under the San Jose Project. Whilst the Scoping Study has yielded robust outcomes and provided independent perspective on the opportunity to produce battery grade lithium hydroxide, there is no guarantee that the JV will choose to adopt the outcomes of the study. The Production Target referred to in this presentation is based on 91% Indicated Resources and 9% Inferred Resources for the life of mine life covered under the Study. In accordance with the twenty four (24) year mine plan incorporated into the Study, the first three (3) years of production (covering payback period) will come 96% from Indicated Resources. The Study is based on the material assumptions outlined below. These include assumptions about the availability of funding. While the Company considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Study will be achieved. To achieve the potential mine development outcomes indicated in the Study, additional funding will be required. Investors should note that there is no certainty that the Company will be able to raise funding when needed however the Company has concluded it has a reasonable basis for providing the forward looking statements included in this announcement and believes that it has a “reasonable basis” to expect it will be able to fund the development of the San Jose lithium deposit. | |
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