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Millennial Lithium Corp.
Summary
| Project: | Pastos Grandes | |
|---|---|---|
| Deposit: | Pastos Grandes | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 11/27/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-11-2017: Millennial Lithium Corp. announces a Resource Estimation report for its Pastos Grandes deposit at the Pastos Grandes project. Initial Mineral Resource for the Pastos Grandes. Millennial Lithium Corp. (the "Company") (TSX-V:ML), is pleased to r | |
| Resources: | (Resource, M+I): 400Kt @ 445mg/l Li at Pastos Grandes | |
| CP/QP: | [Resources]: Micheal Rosko (Montgomery & Associates) | |
| ABSTRACT: | Millennial Lithium Corp. (the "Company") (TSX-V:ML), is pleased to report a maiden lithium (“Li”) and potassium (“K”) resource statement for its Pastos Grandes brine project in the Salta province of Argentina. The NI 43-101 resource statement, detailed in Table 1 below, includes 2,131,000 tonnes of lithium carbonate (“Li2CO3”) equivalent (LCE) and 8,141,000 tonnes of potash (“KCl”) equivalent in the Measured and Indicated Resource categories, with an additional 878,000 tonnes of Li2CO3 and 3,263,000 tonnes KCl in the Inferred Resource category. Farhad Abasov the President and CEO of Millennial Lithium, commented on the maiden resource for the Pastos Grandes Project, “We are very excited to see a robust 43-101 resource estimate from our hydrogeological consultants. The Company has now a strong defined resource estimate in place that will allow us to proceed with our planned Preliminary Economic Assessment. With the new REMSA mining concessions and recent strategic funding, we will confidently continue to advance Pastos Grandes to the next level”. The resource estimate was prepared in accordance with the guidelines of National Instrument 43-101 and uses best practice methods specific to brine resources, including a reliance on core drilling and sampling methods that yield depth-specific chemistry and effective (drainable) porosity measurements. The resource estimation was completed by independent qualified person Mr. Michael Rosko, M.Sc., C.P.G. of the international hydrogeology firm E.L. Montgomery & Associates (M&A). | |
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