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Lithium Power International Ltd.
Summary
| Project: | Maricunga | |
|---|---|---|
| Deposit: | Maricunga | |
| Location: | Chile | |
| Commodities: | Lithium-Potassium | |
| Date: | 1/21/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 21-1-2019: Lithium Power International Ltd. announces a Resource Estimation report for its Maricunga deposit at the Maricunga project. Initial reserves & updated mineral resources in the project. Lithium Power International Limited (ASX: LPI) (LPI or the | |
| Resources: | (Reserve, total): 125Mm3 containing 139kt Li metal | |
| CP/QP: | [Resources]: Murray Brooker (Hydrominex Geoscience Pty Ltd.) | |
| ABSTRACT: | Lithium Power International Limited (ASX: LPI) (LPI or the Company) through its Joint Venture (JV) Company, Minera Salar Blanco S.A. (MSB), is pleased to provide details of the maiden Ore Reserve and Mineral Resource update for its Maricunga lithium brine project in northern Chile (Figure 1). Lithium Power International’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented: “Producing the maiden Reserve and updated Resource, is an important step forward for the company and a key part of the project Definitive Feasibility Study, to be released in the coming days. The Reserve more than supports 20 years of production, with an average input grade of brine pumped from aquifers to the ponds of between 1,050 and 1,200 mg/l lithium, highlighting the exceptional grade of the Maricunga project. An optimized well field design supports brine extraction over the life of project from within the MSB properties.” The Mineral Resource estimate consists of 100% Indicated and Measured Resources, with the previous 20% Inferred Resources converted to Indicated Resources following the drilling of two additional sonic holes to 200 m in 2H18 for a revised Resource of 2.07 Mt of lithium Resources (Tables 1 and 2). The estimated Mineral Resources used in the Definitive Feasibility Study has been prepared by competent persons and reported in accordance with requirements of the 2012 JORC code. A hydrogeological model was developed to define a maiden brine Reserve for the project, taking into account brine recovery from the aquifers in the salar. An overall mining Reserve of 742,000 tonnes of LCE has been defined, for brine extracted from the aquifer and pumped to the ponds, of which 203,000 is classified as Proved and 539,000 as Probable (Table 3). | |
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