Please confirm your editon.
Want to change your edition?Go to your My INN page.
Lithium Anomalies Defined at Mt Dove in Pilbara Western Australia
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce results from its in-fill soil sampling program at its 100% owned Mt Dove lithium-gold project in Western Australia. The program was designed to evaluate multiple lithium and gold anomalies outlined from the Company’s 2022 Ultra-fine fraction (UFF) soil sampling program.1
- Seven high priority lithium anomalies confirmed and enhanced by in-fill soil sampling at the Mt Dove Project in the Pilbara region of Western Australia
- Coherent lithium anomalies extend up to 3,100m length within predominantly shallow sand covered eastern part of licence area
- Outcropping pegmatite samples, with high rubidium (max 0.14% Rb) identified within the highest priority lithium anomaly
- Project located near world class Pilgangoora (ASX:PLS) and Wodgina (ASX:MIN) lithium mines and Hemi gold deposit (ASX:DEG)
- Mt Dove Project also near recent lithium pegmatite discoveries at Tabba Tabba (ASX:WC8) and Pippingarra (ASX:IND)
- Planning underway for design and permitting of a first pass aircore drilling program to cover high-priority targets
The Mt Dove project is located approximately 25km NNW of Mineral Resources’ (ASX: MIN) Wodgina Lithium Mine, 34km WNW of Pilbara Minerals’ (ASX: PLS) Pilgangoora Lithium Mine, 12km SE of De Grey Mining’s (ASX: DEG) Hemi gold deposit, 45km SW of Wildcat Resources’ (ASX: WC8) Tabba Tabba lithium deposit and 41km SSW of Industrial Metals’ (ASX: IND) Pippingarra lithium prospect in the Pilbara region (see Figure 1).
Managing Director and CEO, Neil Marston commented,
“The Mt Dove in-fill soil sampling program has confirmed seven broad areas of lithium and associated pathfinder element anomalism, highlighting the exciting lithium potential of the project.
“Flynn has recently commenced an accelerated work program on its Mt Dove, Lake Johnston and Forrestania lithium projects in Western Australia.”
“The projects are located close to world class lithium deposits and some exciting new discoveries including the Tabba Tabba and Pippingarra projects in the Pilbara and the Burmeister, Jaegermeister and Mt Gordon prospects in the Lake Johnston region.
“The aim of our fieldwork has been to identify pegmatite bodies across our tenements from mapping, sampling and target generation for drill testing. We look forward to providing updates to shareholders on our exploration progress including the plans for our first drill program.”
Figure 1: Flynn Gold Limited’s Mt Dove project location plan.
Soil Sampling Program
The results from an in-fill soil sampling program at the Mt Dove project (E45/5055) have been received and have outlined seven high priority coherent lithium anomalies with associated pathfinder geochemistry and eleven lower priority, less coherent lithium anomalies (Figure 2). The program has been successful in confirming and enhancing the seven high priority lithium geochemical anomalies and in providing further detail of the pathfinder zonation trends (refer to Table 1 and Appendix 1 for further details).
The seven high priority anomalies reveal broad areas of lithium soil anomalism extending between 600m and 3,100m in length and between 200m and 1,000m in width. The soil anomalies have been defined by clusters of samples which are greater than 75ppm Li (+160ppm Li2O) for the original UFF samples and greater than 21ppm Li (+45ppm Li2O) for the recent -2mm soil samples. These are considered significant anomalies particularly when taking into account the supporting associated pathfinder anomalism and trends (Figures 5 - 9).
This article includes content from Flynn Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Balkan Mining and MineralsLtd (ASX: BMM; "BMM" or "the Company") is pleased to announce that Phase 1 of the diamond drill program undertaken by Major Drilling Group International Inc (“Major Drilling”) has been successfully completed at the Gorge Lithium Project located in Ontario, Canada (the "Gorge Lithium Project" or the "Project").
- ~1,500 metres of planned 2,500 metre drill program completed by Major Drilling.
- Koshman pegmatite outcrop among several pegmatite occurrences targeted at Gorge.
- All core has been logged and samples have been submitted to ALS laboratory with assays pending in coming weeks.
- BMM moves to 50% ownership of the Gorge project.
More than half of the planed 2,500m drilling program has been completed to date with a focus on testing the Koshman spodumene bearing pegmatite outcrop.
The company will analyse the assays over the coming weeks and 3D model the Koshman occurrence, with a plan to extend the 2,500 metre program once further targets have been identified
Assays are pending and the Company expects to release the first batch in the coming weeks, with the balance of results expected over the next 3 – 6 weeks.
“The drilling completed by Major has substantially increased drill rate efficiency with initial drill testing of the Koshman spodumene bearing pegmatite occurrence representing an extremely encouraging start to the campaign. We look forward to receiving assay results which we hope will validate our theory that Gorge has the potential to become a substantial lithium deposit.
With the last completed hole reaching some 250 metres in depth, we are hoping that the best of this program is yet ahead of us. We look forward to revealing more as soon as the information comes to hand.”
-Ross Cotton, Managing Director.Corporate
The Company advises that is has met obligations to move to 50% ownership of the Gorge Lithium Project and has also met obligations to make certain payments to vendors of the Tango Lithium Project (“Tango”). The projects are in Ontario, Canada and BMM retains the option to move to 100% ownership of both assets.
Under the terms of the Gorge Lithium Project exclusive option agreement, BMM has made the payment of AUD$60,000 cash and AUD$100,000 in BMM shares to the vendor of the Gorge Lithium Project to move to 50% beneficial ownership of the project (for full details see ASX announcement dated 4 July 2022). Shares will be issued based on the higher of a $0.15 per share floor price and the 10-day volume weighted average closing price for BMM shares prior to issue date.
Under the terms of the Tango Lithium Project exclusive option agreement, BMM has made the payment of CAD$25,000 in cash and CAD$75,000 in BMM shares at the first anniversary on the exclusive option agreement (for full details see ASX announcement dated 31 October 2022). Shares will issued will be issued based on the 20-day volume weighted average closing price for BMM shares prior to issue date.
This article includes content from Balkan Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
The securities of Winsome Resources Limited (‘WR1’) will be placed in trading halt at the request of WR1, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 11 December 2023 or when the announcement is released to the market.
This article includes content from Winsome Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) ("Century Lithium" or "the Company") is pleased to provide an update on its ongoing Feasibility Study for its Clayton Valley Lithium Project ("Project") in Clayton Valley, Nevada, and has commenced a market study on sodium hydroxide as a soluble by-product.
- Feasibility Study continues with work on options for a phased approach to production
- Market study on sodium hydroxide as salable by-product to be included in the Feasibility Study
Throughout the year, Century Lithium remained focused on the development of its Clayton Valley Lithium Project. The work included ongoing testing of lithium extraction at the Pilot Plant and continuing work on the Feasibility Study for the Project, with reviews of capital and operating cost estimates with consultants Wood PLC, Global Resource Engineers, thyssenkrupp nucera USA, Saltworks Technologies Inc., and WSP USA Environment & Infrastructure Inc. This comprehensive study covers all areas of the lithium extraction process from shallow surface mining of lithium-bearing clay to on-site production of battery-grade lithium carbonate. Target production for the study follows that of the project's earlier Pre-Feasibility Study, which was based on a mill feed of 15,000 tonnes per day and average annual output of 27,000 tonnes per year of lithium carbonate equivalent.
To date, the Company has worked with its Feasibility Study team to revise and update estimates based on optimization. Given volatility in the lithium market, the Company is examining a phased approach to full scale production to provide prospective parties with a lower risk alternative in financing. The Company is working with its consultants to determine viable phases and underlying schedules.
The scope of the Project is multi-faceted in its approach to processing, and includes clay leaching and filtration, ion-exchange based direct lithium extraction ("DLE") from leach solutions, and the production of battery-grade lithium carbonate from the DLE product solutions via concentration, purification, and precipitation. The process is driven by locally sourced sodium chloride brine (salt solution) which is treated by electrolysis in a chlor-alkali plant to produce all the leaching and neutralization reagents required for the process on-site.
In the operation of the chlor-alkali plant, the neutralizing reagent generated is sodium hydroxide, also commonly known as lye, caustic soda, or simply caustic. In the plant, sodium hydroxide is produced as a by-product of the generation of the leaching reagent, hydrochloric acid, in an amount that is slightly greater than the production of hydrochloric acid. The acid and base are both produced in liquid form at Suite 1610 - 777 Dunsmuir Street, Vancouver, BC V7Y 1K4 Canada concentrations in the range of 30-37%, The hydrochloric acid is fully utilized in the leaching process. Sodium hydroxide is used at various points in the operation for neutralization and removal of impurities. Pilot plant testing has shown a significant amount of the sodium hydroxide will be surplus to the production process and therefore available as a by-product for potential sale. The western United States is largely dependent on imports of this essential chemical for water treatment and other industrial uses. A market study, to be incorporated in the Feasibility Study, recognizes the potential for revenue from sodium hydroxide sales, tapping into the need for a domestic supply of sodium hydroxide.
In order to properly evaluate the alternatives and incorporate economic benefits of by-product sales, described above, the Company anticipates completion of the Feasibility Study in Q1 2024.
Todd Fayram, MMSA-QP and Senior Vice President, Metallurgy of Century Lithium is the qualified person as defined by National Instrument 43-101 and has approved the technical information in this release.
About Century Lithium Corp.
Century Lithium Corp. (formerly Cypress Development Corp.) is an advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in west-central Nevada, USA. Century Lithium is currently in the pilot stage of testing on material from its lithium-bearing claystone deposit at its Lithium Extraction Facility in Amargosa Valley, Nevada and progressing towards completing a Feasibility Study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.
ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
For further information, please contact:
Spiros Cacos | Vice President,
Investor Relations Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. Suite 1610 - 777 Dunsmuir Street, Vancouver, BC V7Y 1K4 Canada 2
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration, and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Demand for lithium is expected to reach 3.8 million tons by 2035, driven by increased demand in batteries for electric vehicles (EVs). This renewed focus on lithium is also shining a spotlight on the famed Lithium Triangle, where about 60 percent of the world’s lithium reserves are located. The Lithium Triangle spans portions of Chile, Bolivia and Argentina. With its rich lithium resource base and a stable, mining-friendly regulatory environment, Argentina has the perfect formula to become a leader in lithium production.Argentina Lithium and Energy (TSXV:LIT, OTC:PNXLF, FWB:OAY3) is a mineral exploration company focused on developing a portfolio of highly prospective lithium projects in Argentina. The company is a member of the Grosso Group, a resource management firm that has pioneered exploration in Argentina since 1993.
Argentina Lithium has a strong land position and extensive mining track record in Argentina with nearly 67,000 hectares in four key projects located in the Salta and Catamarca provinces. The company’s properties are strategically located next to some of the world’s leading lithium producers and near key infrastructure.In September 2023, Argentina Lithium announced that it had secured an important strategic investor. Peugeot Citroen Argentina S.A., a subsidiary of global automaker Stellantis, invested the equivalent of US$90-million in Argentina pesos to acquire a 19.9% interest in Argentina Lithium’s subsidiary Argentina Litio y Energia S.A. The two companies also negotiated a seven-year offtake agreement, in which Stellantis will buy up to 15,000 tonnes per year of lithium produced by Argentina Lithium.
The company’s flagship Rincon West Lithium Project includes over 5000 hectares of concessions next door to the west and north of the Rincon Project owned by Rio Tinto Plc (RIO.L). Rincon West is also across the salar from Argosy Minerals’ (ASX:AGY) Rincon Lithium Project, which hosts a JORC resource of 245,000 tons of lithium carbonate equivalent grading 325 mg/L and has moved from test plant production to finalizing 2,000 tpa plant operations1. Argentina Lithium’s discovery at Rincon West includes multiple long intervals of brines with promising lithium grades from its first drill program. The Company has an aggressive program underway to continue to test for brines across its large property and move towards completing its first mineral resource estimate.
The company’s second highly-prospective project, Antofalla North, covers more than 10,000 hectares of the Antofalla Salar, starting just 500 metres north of the lithium project controlled by Albemarle Inc., (NYSE: ALB) one of the world’s largest lithium producers1. The Antofalla North project is also located approximately 25 kilometers west of Argentina's largest lithium-producing operations at Salar de Hombre Muerto. The company anticipates an accelerated program at Antofalla North once permits are received.
Argentina Lithium’s other properties include 25,000 hectares in the Incahuasi Salar and more than 26,000 hectares in the Pocitos Salar.
Following the major financing deal with Stellantis, Argentina Lithium accelerated its exploration plans for 2024, which includes the completion of up to 30 drill holes in two phases at the Antofalla North project, with a goal of bringing it to a resource delineation stage shortly on the heels of the company’s flagship Rincon West project if results are positive. The company has also expanded its exploration plans for Pocitos and Incahuasi, beginning with a reconnaissance program of 170 line-kilometer of transient electromagnetic survey at Pocitos.Argentina Lithium is led by Grosso Group’s management team which has a history of major mineral discoveries in Argentina, specifically the Chinchillas silver-lead-zinc deposit now owned and being mined by SSR Mining (TSX:SSRM) and Blue Sky Uranium’s (TSXV:BSK) Amarillo Grande uranium and vanadium project. Plus the team was involved with early work at the properties hosting the Gualcamayo gold mine, now owned by Mineros S.A. (TSX:MSA), and Pan American Silver’s (TSX:PAAS) very large Navidad silver-lead deposit.
- Argentina Lithium discovered lithium in brine at its Rincon West project, reporting strong lithium values in multiple holes.
- In Q4 2023 the Company closed a strategic investment and partnership with global automaker Stellantis, including a US$90-million (in ARS$ equivalent) investment into Argentina Lithium’s subsidiary, and a seven-year, 15,000-tonne-per-annum lithium offtake agreement.
- Drilling at Rincon West continues, with pump testing also planned for 2024, to advance Rincon West towards a potential first mineral resource estimate
- The Company also intends to fast-track exploration in 2024 at Antofalla North - its second highly prospective project.
- The company is backed by Grosso Group Management Ltd., which has already been involved with multiple significant mineral discoveries in Argentina.
Rincon West is a prospective lithium project covering more than 5000 hectares of concessions located in Salta province, Argentina. The project is primarily located along western side of the Rincon Salar, which hosts two significant resource development projects: Rio Tinto’s Rincon Project, and Argosy Minerals’ Rincon lithium project.
The property is situated in the Lithium Triangle with access to an international highway, pacific ports and a major electrical power corridor.
The first drill program at Rincon West included 9 holes and was completed in 2023. The program returned multiple long intervals of brine with strong lithium grades on its Villanoveño II concession. These were highlighted by a 258-metre interval starting at just 83 metres depth with lithium grades ranging from 287 to 402 mg/l lithium (including 2 internal intervals not sampled of 42m & 33m). In late 2023, the company commenced its second drill program at Rincon West, on the adjacent Rinconcita II concession. This is expected to be followed by up to six holes on the project’s third concession, as well as pump testing to provide detailed information to support a mineral resource estimate for the project.
Argentina Lithium’s Antofalla North project is the company’s second star project and is also considered to be highly prospective. It covers over 10,000 hectares spanning the border of the provinces of Salta and Catamarca, situated less than 20 kilometers from Argentina’s largest lithium-producing operations at Salar de Hombre Muerto. The project is accessed via a provincial highway and unpaved roads. Antofalla North is also located just north of Albemarle Corporation’s Salar de Antofalla project.
Argentina Lithium has conducted a geophysical survey at the project, which identified high-conductivity targets in the upper 100 meters and additional targets at depths of up to 500 metres. The company is planning an expanded 2024 exploration program, pending permitting, which includes detailed geophysics to delineate the basin and drill targets, the completion of six exploration drill holes and, if warranted, up to 24 infill holes.
Argentina Lithium’s Pocitos project controls approximately 20 percent of the Pocitos salar. The project area covers more than 26,000 hectares located in the Salta province, with access to an international railway connecting to Pacific ports, a provincial highway and a major gas pipeline.
The Pocitos project has had limited historical exploration, including geophysics, surface sampling and limited drilling. As part of its expanded 2024 exploration program, Argentina Lithium initiated a reconnaissance program of 170 line-kilometers of transient electromagnetic surveying on the properties to identify future drill targets. This program at Pocitos is an increase of approximately 40 percent from the previous plans.
IncahuasiArgentina Lithium’s 25,000-hectare Incahuasi project is located in the Incahuasi Salar and basin, north of Lake Resources’ (ASX:LKE) pre-production Kachi project.
In a 2017 exploration program, Argentina Lithium reported a maximum lithium value of 409 mg/L lithium and 1.56 percent potassium in near-surface sampling to an 8-meter depth. The company also conducted four drill holes which confirmed lithium-bearing brines with average grades of 109 mg/L of lithium and 6,718 mg/L of potassium.
Argentina Lithium believes the project is underexplored and may have the potential to host quality lithium brine at depth. In 2024, the company plans to conduct a 90-kilometer-line transient electromagnetic sounding survey covering the entire property to detect and delineate brine aquifers for testing.
Nikolaos Cacos - President, CEO and Director
Nikolaos Cacos has over 30 years of management and advisory expertise in the mineral exploration industry. He has worked with Grosso Group since its inception and serves as a senior-level executive for all of its member companies. Cacos’ career includes administration and strategic planning for public companies. He currently serves as an officer and director of several TSX Venture Exchange-listed companies. He holds a master’s degree in international management from Heidelberg, Germany, and a Bachelor of Science degree from the University of British Columbia.
Miles Rideout - Vice-president of Exploration
Miles Rideout has 34 years of experience in advanced exploration practice, responsible business management, scientific team building and mining integration with local communities and indigenous peoples. Rideout has directly managed the acquisition and exploration of dozens of lithium properties in northern Argentina. He served as CEO of Latin American Minerals (TSX:LAT) for 5 years, during which he advanced gold and diamond projects in Paraguay. Rideout also spent 23 years with Quantec Geoscience Inc. where he initiated operations in South America and managed subsidiaries in several countries. He has experience in mine permitting, financing, construction and operations, including implementing the first operating mine in Paraguay. He participated in the discovery of several world-class deposits including the Collahuasi and Ujina copper-porphyry deposits, Veladero epithermal gold deposit and Navidad VMS/epithermal silver deposit. Rideout received a Bachelor of Science with Honors Certificate in Geophysics from Western University in 1987. Rideout is fluent in English and Spanish and has lived in Mendoza, Argentina for more than 20 years.
Darren Urquhart - CFO
Darren Urquhart is a chartered professional accountant with twenty years of experience working in public practice and industry. Urquhart operates his public practice accounting firm offering chief financial officer and accounting services to TSX Venture Exchange-listed companies in Vancouver. He has also served as director for some of his corporate clients. Urquhart began his career working as an audit accountant with Grant Thornton LLP, then later worked as a senior tax accountant with Lohn Caulder Chartered Accountants. He obtained his chartered accountant designation in 2001 and is a member of the Chartered Professional Accountants of British Columbia. In 1995, Urquhart graduated from the University of British Columbia with a Bachelor of Applied Science in Electrical Engineering.
Joseph Grosso - Chairman of the Board and Director
Joseph Grosso became one of the early pioneers of the mining sector in Argentina in 1993 when mining was opened to foreign investment. He was named Argentina's 'Mining Man of The Year' in 2005. His knowledge of Argentina was instrumental in attracting a premier team that led to the acquisition of key properties in Golden Arrow's portfolio. He has successfully formed strategic alliances and negotiated with mining industry majors such as Barrick, Teck, Newmont, Viceroy (now Yamana Gold) and Vale SA and government officials at all levels. Grosso's specialty is financing, negotiations, corporate and marketing strategy. He was an early and passionate adopter of best practices in environmental protection and socio-economic development through mineral exploration. He is the founder and president of Grosso Group Management Ltd.
John Gammon - Director
John Gammon has 40 years of experience in mineral exploration and management. His experience includes international positions with Falconbridge, assistant deputy minister mines and minerals with the Government of Ontario and, since his retirement, as ADM as a consultant working with industry, governments and universities. Gammon also spent a significant amount of time on the Aboriginal community and environmental issues. His knowledge of the Spanish language, South American culture and local societies coupled with his industry experience can assist the company with the advancement of its projects in Argentina.
Martin Burian - Director
Martin Burian holds ICD.D (Institute of Corporate Directors) and Chartered Professional Accountant designations. He has a 30-year career in investment banking in the mining sector, is currently Managing Director at RCI Capital Group and held similar senior positions at Haywood Securities, Bolder Investment Partners and Canaccord Capital. Burian is an independent member of several other public company boards where his roles include chairman, lead independent director and audit committee chair, as well as privately-held Heffel Gallery Limited where he is also part-time CFO. Burian’s early career was with KPMG where he obtained his CPA and CBV designations.
David Terry – Director
Dr. Terry is a professional economic geologist, senior executive and corporate director with more than 30 years' of international experience in the mineral resources sector. Dr. Terry holds a B.Sc. and Ph.D. in geology from Western University in Ontario and is a member of the Association of Professional Engineers and Geoscientists of British Columbia. Dr. Terry has played key roles in the successful acquisition, exploration and development of a number of precious and base metal deposits, primarily in North and South America, and has expertise in advanced project evaluation, M&A, corporate finance, and design and execution of effective exploration programs. In the course of his career he has held executive positions and directorships with a number of publicly-listed and private mineral resource companies; he currently serves as a director of Blue Sky Uranium Corp., Golden Arrow Resources Corporation, and Aftermath Silver Ltd..
Argentina Lithium is a well-funded exploration company with a global automaker strategic partner, making discoveries in the Lithium Triangle. For exploration results offering leverage to the new battery supply chain, learn more about this company.
1[Argentina Lithium cautions that proximity to a discovery, mineral resource, or mining operation does not indicate that mineralization will occur on the Company’s property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario.]
Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to provide an update on the progress of construction activities at the 100% owned Hombre Muerto West (HMW) Phase 1 lithium brine project, with the aim of delivering lithium chloride production in H1, 2025.
- Pond 1 construction progressing to schedule; advance rate now at 65% completion
- Liners on-site; installation scheduled to commence late December 2023
- Fill of pond 1 expected in Q1, 2024; evaporation process to commence this summer
- Preparation works for Ponds 2 and 3 underway, including topsoil removal
- New camp and infrastructure progressing well with all final modules materially in place
- Glencore technical due diligence has commenced
As previously announced, the HMW project was separated into four production phases. The initial Phase 1 DFS focused on the production of 5.4ktpa LCE of a lithium chloride concentrate by H1,2025, as governed by the approved production permits. The Phase 2 DFS targets 21ktpa LCE of a lithium chloride concentrate in 2026, followed by Phase 3 production of 40ktpa LCE by 2028 and finally a Phase 4 production target of 60ktpa LCE by 2030. Phase 4 will include lithium brine being sourced from HMW and Galan’s other 100% owned project in Argentina, Candelas.
Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, commented:
“I arrived on site this week and am very pleased with the significant progress being made on site and most impressed with the dedicated personnel we have in place. Galan has assembled a cohesive team of highly competent people, with the necessary specialist experience and knowledge to build the ponds and infrastructure required to successfully deliver the first production phase of the HMW project. Pond 1 construction works have been progressing well and in accordance with expectations. We are sharply focused on our objective to commence brine evaporation this summer. We also remain enthusiastic and confident about development of Phase 1 HMW and achieving first production H1, 2025.”
Below are a selection of recent photos evidencing the progress being made on site.
Figure 1: Pond 1 construction progress and Ponds 2 & 3 preparation works underway
Figure 2: Pond design and location
This article includes content from Galan Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) (“Battery” or “BMR” or the “Company”) is very pleased to provide an operational, permit and community relations update.
The Punitaqui copper mining complex (“Punitaqui”) includes the copper concentrator or “plant”, tailings storage facility, electrical, instrumentation and mechanical maintenance facilities, administration offices, assay laboratories, cafeterias, copper concentrate storage and loadout facilities, and the Cinabrio, San Andres and Dalmacia mines and includes the soon-to-be established Cinabrio Norte mine (see Figures 1 and 2).
The Company is pleased to report that personnel hiring for the resumption of full operations at Punitaqui is on schedule. Furthermore, final mine maintenance at the San Andres mine including rehabilitation of ground support, re-activation of compressed air, ventilation, power, and water in preparation for resumption of full mining operations, commenced in late November. A contract for the final stages of Punitaqui plant maintenance and rehabilitation has been executed and activities commenced December 4th with the aim of full operational commissioning of the plant in March and plant start-up in April of 2024.
Environmental and Operational Permitting
Permits have been granted allowing for thickened tailings deposition into the tailing’s storage facility of up to 1,500,000 tonnes - representing approximately 20 months of mine and plant operations during the first phase of operations at Punitaqui.
The company expects to receive a permit for “dry stack” or filtered tailings deposition in late 2024. Filtered tailings deposition has many benefits over thickened tailings deposition including much lower water consumption in plant operations and far greater capacity for tailings storage over the same physical footprint. Construction and commissioning of the tailings filter plant will take nine months and thereafter, filtered tailings are to be deposited. Deposition of filtered tailings will allow for an additional eight-plus years of tailings storage at our permitted mining rate. This will be accomplished over nearly the same footprint the current tailings storage facility occupies.
A permit for the San Andres mine has been granted which allows for BMR to commence drifting, ramp construction and mine development on two different elevation levels and allows for establishment of new underground exploration drilling platforms. This mine development will establish access to new zones of copper mineralization for the forthcoming mine production. Other activities at the San Andres mine include final achievement of equipment, supplies and personnel arrangements.
VAT Recovery Extension Approval
As in many developed countries, Chile has a Value Added Tax (“VAT”) on goods and services. Following BMR’s acquisition of the Punitaqui Mining Complex, it filed an application with, and received approval from, the Chilean Ministry of Economy, Development and Tourism (the “Ministry of Economy”) to participate in a VAT-recovery program set in place by the Chilean government to incentivize Chilean exports (the “VAT Program”). The VAT Program allows BMR to recover the VAT paid on goods and services purchase, once it submits verified documentation, in advance of achieving agreed-upon amounts of to-be-exported mineral concentrates. This VAT-recovery program provides BMR with a source of cash that it reinvests in its assets in Chile. On November 29, 2023, the Ministry of Economy issued a resolution to extend the VAT-recovery program for BMR until December 2025, which is a welcomed positive result. The new cap for total VAT recovery for the Company is US$7.0 million. As of today, Minera BMR has recovered a total of US$3.1 million in VAT recovery since it began to operate in Chile, with the remaining US$3.9 million expected to be recovered prior to December 2025. The remaining US$3.9 million allowed to be recovered by BMR will more than suffice until such time that the Punitaqui Mining Complex begins to generate revenue and cash flow from operations.
As previously disclosed, an agreement that will grant BMR surface rights for exploration of “blue sky” areas on BMR mineral claims has been signed with the local community of Potrerillos. BMR geologists have since defined the drill target locations within the “blue sky” areas. The company’s next step, expected in the next few weeks, is to formalize easement agreements with the Potrerillos community. Conversations with members of the community of Punitaqui to establish easement agreements for the Dalmacia mine road are well advanced.
BMR’s social and community relations consultant, Integratio Mediação Social e Sustentabilidade (“Integratio”) has completed the community relationship policies and consultation manuals that will support and guide the Company’s social engagement strategy for the future. The Company is currently proactively engaging with both of our local communities of Potrerillos and Punitaqui as well as the local and regional authorities on the status of the project in terms of social impact and employment opportunities.
Additionally, the Ministry of Public Workings (MOP) is currently enhancing part of the existing road that connects the Punitaqui Plant to the Dalmacia mine, and Battery has reached an agreement to contribute to the widening of the road and an increase of the asphaltic pavement to support trucking of ore from Dalmacia to the Punitaqui Plant. MOP field work for this began early November and is expected to be completed in Q1 2024.
The Company is also proud to update its activities with the regional association of mining companies, CORMINCO. In the past three months BMR has participated in several meetings organized by CORMINCO, with regional authorities which have included one of the senators of the region as well as the presidential delegate of the Limari Province. These meetings have been extremely useful as an introduction to local mining suppliers and contractors and has aided in accelerating our overall permitting process. BMR has also been participating in meetings with the Chilean national miner’s association, SONAMI, and have enjoyed their support and begun participating in their specialized committees.
The Company looks forward to providing additional updates to the market in the coming weeks as we move Punitaqui back into sustainable, profitable production for all stakeholders.
About Battery Mineral Resources Corp.
Battery Mineral Resources is a battery minerals company providing shareholders exposure to the global mega-trend of electrification while being focused on growth through cash-flow, exploration, and acquisitions in favourable mining jurisdictions. Battery Mineral’s mission is the discovery, acquisition, and development of battery metals (namely cobalt, lithium, graphite, and copper), in North America, South America and South Korea and to become a premier and responsible supplier of battery minerals to the electrification marketplace. BMR is currently pursuing a near-term resumption of operations of the Punitaqui Mining Complex, a past copper-gold-silver producer, in the Coquimbo region of Chile. BMR is the largest mineral claim holder in the historic Gowganda Cobalt-Silver Camp in Ontario, Canada, and continues to pursue a focused program to build on the recently announced, +1-million-pound high-grade cobalt resource at McAra. In addition, Battery Mineral owns 100% of ESI Energy Services, Inc. (including ESI’s wholly owned USA operating subsidiary, Ozzie’s, Inc.), a profitable mainline pipeline and renewable energy equipment rental and sales company with operations in Alberta, Canada and Arizona, USA. Battery Mineral Resources is based in Canada and its shares are listed on the Toronto Venture Exchange under the symbol “BMR” and on the OTCQB under the symbol “BTRMF”. Further information about BMR and its projects can be found on www.bmrcorp.com.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections of the Company on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to obtain sufficient financing to complete exploration and development activities, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the ability of the Company to meet its anticipated development schedule, government regulation and fluctuating metal prices. Accordingly, readers should not place undue reliance on forward-looking statements. Battery undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein, whether as a result of new information or future events or otherwise, except as may be required by law.
Battery Mineral Resources Corp.
Martin Kostuik, CEO
Corporate Communications, IBN (InvestorBrandNetwork)