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Millennial Lithium Corp.
Summary
| Project: | Pastos Grandes | |
|---|---|---|
| Deposit: | Pastos Grandes | |
| Location: | Argentina | |
| Commodities: | Lithium | |
| Date: | 7/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-7-2017: 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 Millenni | |
| Resources: | x | |
| CP/QP: | [Overall Report]: M Rosko, N Rojas (Montgomery & Associates;Royas y Asociados) | |
| ABSTRACT: | The present technical report (the “Report”) was requested by Millennial Lithium Corporation (“Millennial”) to document work to date on five mining leases identified as: Jorge Eduardo; Neptalí 2; El Milagro; Norte Argentino; Papadopoulos XXXII; (the “Property”). With the exception of Papadopoulos XXXII, the leases were obtained in 2016 by Millennial from a local Salta entity known as the Moreno Group (the “Vendor”) through an option to purchase agreement (“Purchase Agreement”). The previous owners of Papadopolous XXXII property dropped their claim and it was declared vacant by the mining court. It was subsequently released for filing and, with multiple claimants was awarded to Millennial, as the winner of a drawing. The Property package is centered in the Salar de Pastos Grandes basin and covers 1,519.4 hectares (ha). An additional 4,652.95 ha (Taba PG; Papadopoulos LXXIV, and; Aguamarca 15) are under application, awaiting concession agreements, and will bring the total ground under control of Millennial to 6,172.35 ha. 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 for 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. | |
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