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Lepidico Ltd.

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Summary

Project:

Phase 1 L-Max

Deposit:Phase 1 L-Max
Location:Canada
Commodities:Lithium-Mica
Date:2/27/2017
Report Code:JORC
Report Type:Pre-Feasibility Study
Project Stage:Pursuing Resources Definition
Report details:27-2-2017: Lepidico Ltd. announces a Pre-Feasibility Study report for its Phase 1 L-Max deposit at the Phase 1 L-Max project. Pre-Feasibility study for lithium-mica L-Max processing plant. Lepidico Ltd (ASX:LPD) (“Lepidico” or “the Company”) is pleased to
Resources:x
CP/QP:[Overall Report]: n/a (n/a)
ABSTRACT:Lepidico Ltd (ASX:LPD) (“Lepidico” or “the Company”) is pleased to announce that it has received the results of the Phase 1 Plant Pre-Feasibility Study (“PFS”) from lead consultant MinMet Services Pty Ltd. The Study is based on a small scale commercial L-Max® plant processing a lithium-mica concentrate feed at a rate of 3.6 tonnes per hour (tph) to produce approximately 3,000 tonnes per annum of battery grade lithium carbonate and a suite of valuable by-products. The PFS has confirmed the viability of constructing a strategically located Phase 1 L-Max® Plant at Kenora, Canada, processing lithium-mica concentrates purchased from third party suppliers. The positive PFS results have provided the confidence to commit to a Definitive Feasibility Study (DFS) once finance is secured. The PFS results have enabled planning parameters for the DFS to be further developed. Lepidico’s Managing Director, Joe Walsh said, “The PFS results are a huge endorsement of L-Max® and demonstrate a clear pathway for Lepidico to become a low cost lithium carbonate producer in a relatively short period of time. The lithium-micas represent an opportunity to develop high quality assets with only limited competition, due to Lepidico owning the process technology.” Joe Walsh said, “Planning parameters for the Phase 1 L-Max® Plant Definitive Feasibility Study that include C1 costs after by-product credits at the low end of the global cost curve, suggest compelling project fundamentals, which have provided Lepidico with the confidence to commit to the DFS subject to securing funding.” “Lepidico is uniquely well positioned to benefit from the significant demand growth for lithium chemicals via a differentiated business model that is based on the highest sustainability and ethical standards.”

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