- The Chilean Joint Venture Company, Minera Salar Blanco S.A. (MSB), submitted the Maricunga lithium brine project's (the Project) Environmental Impact Assessment (EIA) to the Chilean Environmental Authority, Servicio de Evaluación Ambiental (SEA) to be reviewed for approval. This is the culmination of in-depth work during more than two years by MSB employees and consultants and was completed to the highest possible standard. An update on the extensive EIA approval process will be provided as information is received from SEA.
- The Project's Definitive Feasibility Study (DFS) is expected to be finalised and released by the end of December 2018.
- Results from the Preliminary Economic Assessment (PEA) which was released in December 2017, including CAPEX, OPEX, price forecasts and revenues, will be updated in the DFS.
Full reserve calculations will also be included for the first time.
- Work by process consultants GEA in Germany, fine tuning the flow circuit and equipment requirements are progressing extremely well.
- MSB is nearing the completion of contractually securing all key infrastructure needed to support the Project with water supply secured for the Project through a long-term lease for the next 20 years.
- The Chilean electricity regulator authorised MSB to use its existing transmission infrastructure for the Project. Negotiations regarding final conditions are ongoing with the owner of the power lines.
- Permits for drilling has been obtained and plans are underway to drill several holes at the Centenario lithium project in Salta province, Argentina. This program will evaluate the potential for significant volumes of brine within LPI's properties indicated by a recent electrical geophysical survey.
- In Western Australia, the Company is undertaking an extensive soil sampling program over its Tabba Tabba property. This covers a greenstone belt, which has known tantalum and lithium mineralisation along strike from the property. Areas of elevated geochemistry will be followed up with rock chip sampling and drilling.
- LPI increased its ownership in MSB by 1% after paying AU$1.5 million from existing cash reserves.
The Company now owns 51% of MSB.
- On 3 September 2018, the Company appointed Mr Cristobal Garcia-Huidobro and Mr Martin Borda as Non-Executive Directors to further enhance its relationship with MSB. As part of this change, Dr Luis Ignacio Silva resigned from the Board on the same date.
- Mr Cristobal Garcia-Huidobro was subsequently promoted to Chief Executive Officer and Managing Director of LPI on 16 October 2018.
- To further strengthen its Board, Mr Richard Crookes will be appointed Executive Director - Corporate Finance on 1 November 2018.
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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 (PLS.ASX) and Altura Mining (AJM.ASX) 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).
ContactDavid Hannon - Chairman or
Andrew Phillips - CFO / Company Secretary
Lithium Power International
Lithium Power International Ltd (ASX:LPI) Increases Investment in Maricunga Lithium Brine Project in Chile