- Major resource upgrade at the Maricunga lithium brine project in Chile with a 3.7 fold increase of high grade Measured, Indicated and Inferred resource to 2.15 million tonnes (Mt) of lithium carbonate equivalent (LCE) and 5.7 Mt potassium chloride (KCl) to a depth of 200m in accordance with JORC Code (2012) - an outstanding result for the company.
- High quality resource, with one of the highest average resource concentrations globally of 1,160 mg/l lithium and 8,500 mg/l potassium, with very favourable porosity and permeability - which are essential for resource extraction.
- Process test work advancing, with preliminary engineering and design underway and a pre-feasibility study targeted for release in 4Q CY17.
- Ratification of issue of shares and options at the Annual General Meeting.
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About Lithium Power International Ltd
Lithium Power International Limited (ASX:LPI) (FRA:24L) is a pure-play lithium explorer and developer, focusing on developing and fast-tracking to production the high-grade Maricunga lithium brine project in Chile.
LPI has a well known performing technical team with the experience to take the Maricunga project all the way through the development stages to production.
The regions that LPI is currently focussed on are:
1. Maricunga JV (Chile) – On 13th September 2016, Lithium Power announced the creation of a new JV to develop the world-class Maricunga lithium brine deposit in northern Chile.
2. Pilbara (Western Australia) – LPI has one granted exploration tenement and two pending exploration applications covering 203km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is at Pilgangoora-Houston Creek is 2-3km west of the Pilbara Minerals (ASX:PLS) and Altura Mining (ASX:AJM) lithium deposits.
3. Greenbushes (Western Australia) – LPI has two granted exploration tenements covering 400km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world’s largest hard rock lithium mine owned & operated by Tianqi/Talison.
4. Centenario (Argentina) –Through its Argentinian subsidiary, Lithium Power holds a total of 6 granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the 6 granted tenements cover an area of 61.52km2. In addition, there is 1 further tenement in the grant review stage.
With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenement which is the subject of review by the Argentinian mining authorities).
Lithium Power International Ltd