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Millennial Lithium Corp.
Summary
| Project: | Pastos Grandes | |
|---|---|---|
| Deposit: | Pastos Grandes | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 3/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-3-2018: Millennial Lithium Corp. announces a PEA report for its Pastos Grandes deposit at the Pastos Grandes project. Clarrified Report contiaing changes as requested by BCSC. Millennial Lithium Corp. (ML: TSX.V) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) (“Mi | |
| Resources: | (Resource, M+I): 400Kt @ 445mg/l Li at Pastos Grandes | |
| CP/QP: | [Overall Report]: Marek Dworzanowski, Michael J. Rosko (WorleyParsons;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 Preliminary Economic Assessment ("PEA") for the production of lithium carbonate from its Pastos Grandes Project in the province of Salta, Argentina. The PEA was prepared by WorleyParsons Chile S.A. ("WP"), a leading integrated independent engineering services firm with 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, CEO and President commented "We are very pleased that we have been able to advance our Pastos Grandes Project from exploration through to a completed PEA in just a year. The results of the PEA indicate that, even using the most conservative assumptions, Pastos Grandes has the potential to be a robust lithium carbonate project among the lower quartile of LCE costs. We intend to continue advancing the project through the next phases of development, and continue driving further value improvements. The economic analysis is based upon brine grades across the company’s Measured, Indicated and Inferred Mineral Resources only. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There is no certainty that the Pastos Grandes Project envisioned by the PEA will be realized. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. | |
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