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Millennial Lithium Corp.
Summary
| Project: | Pastos Grandes | |
|---|---|---|
| Deposit: | Pastos Grandes | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 9/21/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-9-2016: Millennial Lithium Corp. announces a Supporting Acquisition report for its Pastos Grandes deposit at the Pastos Grandes project. Summary of property in support of acquisition. The present technical report (the “Report”) was requested by Millenn | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Nivaldo Rojas (Rojas & Asociados) | |
| ABSTRACT: | The present technical report (the “Report”) was requested by Millennial Lithium Corp. (“Millennial”) to support its application for a set of 4 mining leases identified as Jorge Eduardo; Neftalí II; El Milagro and Norte Argentino (the “Property”) in the process of acquisition by Millennial through an option to purchase agreement (“Purchase Agreement”) with a local Salta entity known as the Moreno Group (the “Vendor”). The Property is centered in the Salar de Pastos Grandes basin and covers 1219.4 hectares. Argentinean law provides for the granting of two types of mining rights: exploration permits which are limited in duration and which allow for the exploration of a mineral property, and mining permits, which allow for the exploitation of the minerals in the subject property. The designations of the permits in respect of the Property are mining permits. Mining permits are unlimited in duration and remain the holder’s property as long as the holder meets its obligations under the Argentinean National Mining Code, as amended, including biannual canon payments and minimum investment commitments. Millennial can acquire a 100% interest in the Property in consideration of making the following payments and share issuances to the Vendor. The Property exhibits anomalous lithium and potassium brines and have been tested by surface geochemical sampling, Magnetolluric (MT) surveying, CSAMT, vertical electrical sounding (VES) geophysical surveying and by 4 pumping wells testing and measuring brine flows in aquifers with significant lithium and potassium assays. | |
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