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Millennial Lithium Corp.
Summary
| Project: | Pastos Grandes | |
|---|---|---|
| Deposit: | Pastos Grandes | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 7/29/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-7-2019: Millennial Lithium Corp. announces a Feasibility Study report for its Pastos Grandes deposit at the Pastos Grandes project. Feasibility study results incl. post-tax NPV (8%) of $1,030M, IRR of 24.2%. Millennial Lithium Corp. (ML: TSX.V) (A3N2:G | |
| Resources: | (Reserve, P+P): 177,000t Li | |
| CP/QP: | [Overall Report]: Marek Dworzanowski, Mike Rosko (WorleyParsons Chile S.A.;Montgomery & Associates) | |
| ABSTRACT: | Millennial Lithium Corp. (ML: TSX.V) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) (“Millennial” or the “Company”) is pleased to announce the results of its Feasibility Study (the "FS") for the production of Battery Grade lithium carbonate (>99.5% Li2CO3) from its Pastos Grandes Project in the province of Salta, Argentina. The FS was prepared by WorleyParsons Chile S.A. (Worley) and Montgomery & Associates Consultores Limitada ("Montgomery") based in Santiago, Chile, a subsidiary of international hydrogeology firm E.L. Montgomery & Associates Inc. In April 2019, WorleyParsons and Jacobs' Energy, Chemicals and Resources division, two global leaders in engineering, technical and professional services, came together as a new brand – Worley. Worley has extensive experience in the design and construction of lithium brine projects in Argentina and Chile. All figures are quoted in U.S. dollars. Farhad Abasov, President and CEO commented "We are very pleased that we have been able to advance our Pastos Grandes Project from exploration through to a completed Feasibility Study in just over two years. The results of the FS indicate that Pastos Grandes has the potential to be a robust lithium carbonate producer and be among the lower quartile of LCE costs. Millennial continues to advance the project with product development and a pilot plant is being assembled at site. Inventory is being built by increasing the volume of concentrated lithium brine in the pilot evaporation ponds. The pilot plant, engineered to produce 3 tonnes per month of LCE, will provide pilot studies to support detailed engineering estimates and product sample material for potential customers. With a strong cash position Millennial is now confidently moving the project into the next development stage, including seeking full funding for construction.” | |
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