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Project: | Pastos Grandes | |
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Deposit: | Pastos Grandes | |
Location: | Argentina | |
Commodities: | Lithium | |
Date: | 4/17/2019 | |
Report Code: | NI43-101 | |
Report Type: | Resource Estimation | |
Project Stage: | Pursuing Resource Increase/Upgrade | |
Report details: | 17-4-2019: Millennial Lithium Corp. announces a Resource Estimation report for its Pastos Grandes deposit at the Pastos Grandes project. Updated mineral resource estimate at the project. Millennial Lithium Corp. (the "Company") (TSX-V:ML), is pleased to r | |
Resources: | (Resource, M+I): 774Kt Li contained at the project | |
CP/QP: | [Resources]: Michael Rosko (Montgomery & Associates) | |
ABSTRACT: | Millennial Lithium Corp. (the "Company") (TSX-V:ML), is pleased to report an updated lithium (“Li”) and potassium (“K”) resource statement for its Pastos Grandes brine project in Salta province of Argentina. The NI 43-101 resource statement, detailed in Table 1 below, includes 4,120,000 tonnes of lithium carbonate (“Li2CO3”) equivalent (LCE) and 15,342,000 tonnes of potash (“KCl”) equivalent in the Measured and Indicated Resource categories, with an additional 798,000 tonnes of LCE and 2,973,000 tonnes KCl in the Inferred Resource category. Compared to resource estimates completed by Montgomery & Associates in its previous report titled Measured, Indicated and Inferred Lithium and Potassium Resource Estimate Pastos Grandes Project Salta Province, Argentina and dated December 22, 2017, the updated resources represent an almost 100% increase in the Measured and Indicated LCE tonnage (2017 value of 2,131,000 tonnes LCE). Farhad Abasov, President and CEO of Millennial Lithium, commented on the updated resources for the Pastos Grandes Project, “We are very excited to see from calculations by our hydrogeological consultants Montgomery & Associates, an approximately 100% increase in the Measured and Indicated lithium resources estimate over the 2017 Measured and Indicated Li resources. This sizable increase in our resource positions Millennial as one of the most prospective lithium brine projects in the world with the potential for a significant lithium operation. The Company now has significant Measured and Indicated lithium resources which, on the completion of ongoing studies, have the potential to be converted to Probable and Possible reserves in support of our Feasibility Study on the Company’s planned lithium carbonate processing operation. Our development work continues with the Feasibility Study and the construction of the pilot processing plant, both slated for completion in Q2. | |
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