DGAP-News: Millennial Lithium Corp. / Key word(s): Miscellaneous
Vancouver, British Columbia--(Newsfile Corp. - January 7, 2019) - Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) ('Millennial' or the 'Company') is pleased to provide an update on all its technical programs at its Pastos Grandes Project in Salta, Argentina. The Company is currently engaged in a comprehensive development plan which includes completion of a Definitive Feasibility Study, expansion drilling for an updated resource estimate, operating pilot ponds to provide concentrated lithium-rich brines pumped from the salar, development of a Pilot and Training Lithium Processing Plant designed to produce 3 Tonnes Per Month of Lithium Carbonate Equivalent (LCE), adding additional pumping test wells, and completing various technical studies and infrastructure improvements designed to expedite the Company's ongoing Feasibility Study.
Millennial President and CEO, Farhad Abasov, commented: 'We are very pleased with the progress in all facets of our development plan at Pastos Grandes. Our expansion drilling program continues to enlarge and optimize the footprint of the lithium-bearing brine and we expect an updated Resource Estimate in early Q1 2019; the pilot ponds are concentrating the lithium brine via solar evaporation and the design and implementation of the Pilot Processing Plant are well underway. WorleyParsons is progressing well with the Company's Definitive Feasibility Study which remains on target for completion in Q2, 2019. Millennial remains fully funded to complete all its initiatives and looks forward to a productive 2019.'
Resource Expansion Drill Program and Resource Update
Two drill rigs are currently active on the Remsa license, a portion of the Pastos Grandes Project, testing the extensions of the lithium-bearing brine aquifer. Drilling has been completed at PGMW18-20B and sample results are awaited. Due to the promising results from exploration wells PGMW18-15 and PGMW18-17 (236m @ 500 mg/l Li and 545m @ 444 mg/l Li respectively; see News Releases Sept. 10, 2018 and Oct. 15, 2018 respectively) Millennial undertook additional geophysical surveys to determine the potential extension of the lithium-bearing brine to the west of the Remsa license. Preliminary results from the geophysical survey indicate potential for additional brine further into the Remsa license portion of the Pastos Grandes Project. A drill rig will be mobilized to collar PGMW19-21 on the western edge of the Remsa license and drilling will begin early in 2019.
The updated Resource Estimate by Montgomery & Associates, which is required to complete the Definitive Feasibility Study, is in progress with data from the geophysical surveys providing additional geological information and enhancing interpretations of the continuity of geological units west of the current drilling. Completion of an updated Resource Estimate will await the results of exploration well PGMW19-21 which will be completed early in Q1, 2019.
Pilot Ponds filled with brine from pumping well PGPW17-4 in late September, 2018 are concentrating lithium in preparation for lime treatment to reduce magnesium content in the brine. Colour changes are noticeable now in the ponds as halite and sylvite begin to precipitate (see website photos; ). Brine levels in the ponds continue to drop as the contained water evaporates, with levels indicating nearly 50% volume reduction since the ponds were filled. Brine is being transferred to isolated smaller ponds as part of the evaporation concentration and purification process, preparing the concentrate feed to the Pilot Processing Plant.
The pilot liming plant construction has been completed and will be commissioned early in Q1, 2019. This will allow for the liming of the brine, eliminating the majority of the contained magnesium in preparation for feeding the Processing Plant.
Pilot Processing Plant
Millennial is developing a Pilot Processing Plant designed to produce 3 Tonnes Per Month of lithium carbonate utilizing concentrated brine from the pilot ponds on the salar. Plant engineering and design work as well as installation and commissioning of the plant is being completed by WorleyParsons Chile. The timeline for the design and construction of the plant is approximately 4 months with training extending for an additional month. Design of the building to house the plant is complete and a local contractor has been engaged to construct the building over a 2 month period.
Pumping Test Wells
Long term pumping tests were completed at production well PGPW17-4 over a 23 day period from Sept. 7-30th, 2018. Data and results of this program are currently being compiled and the final report is scheduled for release in Q1, 2019.
Drilling and development of production and test wells PGPW18-17 and PGPW18-15 are underway. ML has contracted a second drilling company to increase productivity. Both pumping wells are scheduled for completion to 500m-600m in Q1, 2019, to be immediately followed by pumping tests in preparation for the well field model and production pumping.
Additional ground geophysics (seismic tomography) is in progress on the western portion of the Remsa license and extending west onto the adjacent license held by Millennial. Preliminary interpretations indicate continuity of brine-bearing sediments on the western edge of the Remsa license and further west into a contiguous Millennial license. An exploration well (PGMW19-21) is planned in early 2019 to test the potential for lithium-bearing brine in this region at the western edge of the basin.
Environmental Impact Assessment-Exploitation
Ausenco-Vector has been engaged to complete the Environmental Impact Assessment for the Exploitation stage of the project. Millennial and WorleyParsons are in the process of providing data and project information to Ausenco to allow completion of the report. Ausenco indicates that the report will be ready for submission to government officials in Q1, 2019 for approval in Q2-Q3, 2019.
Infrastructure improvements at the site are ongoing with the residence camp construction recently completed. The all-weather camp consists of modules to house 40-60 people, supporting infrastructure for the on-site laboratory and Training Plant. Energy engineering firm ERGY Solar has been engaged to construct a 250 KVa hybrid power plant at the camp site which will provide power for the camp as well as the Training Plant and laboratory. Construction of the solar field is in progress. The solar panel supports have been fabricated and are mostly installed, and most major components have been received in Salta. The ICP lab equipment has been received and a specialized container is being prepared to house the entire lab set-up. Having an on-site lab will allow quick turn-around for basic daily sampling of brine from the ponds, as well as quick indicative results for the resource expansion drilling and pumping tests.
Millennial has broken ground on the Pastos Grandes community centre/warehouse and all-purpose building. This work is central to our community relations and engagement with the people of Pastos Grandes and is being well received.
Definitive Feasibility Study
WorleyParsons Chile is progressing with the Company's Pastos Grandes Definitive Feasibility Study. Basic engineering and design work as well as pond layout and mass balance calculations are approaching completion. These will form the basis for earth movement estimates and determination of the required equipment and sizing of equipment for the proposed 25,000 Tonne Per Year LCE operation target. The Feasibility Study remains on schedule for completion in Q2, 2019.
Sampling was conducted in accordance with CIM guidelines for brine resource evaluation, with an appropriate chain of custody and QA/QC program in place for ensuring veracity, accuracy and precision of the analytical results.
The primary analytical laboratory for the data used in this program is the SGS Laboratory in Buenos Aires, Argentina. SGS is accredited to ISO 9001:2008 and ISO14001:2004 for their geochemical and environmental labs for the preparation and analysis of numerous sample types, including brines.
This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a Qualified Person as that term is defined in National Instrument 43-101.
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email .
MILLENNIAL LITHIUM CORP.
President and CEO, Director
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain 'Forward-Looking Statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target, 'plan', 'forecast', 'may', 'schedule' and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily 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 risks, contingencies and uncertainties. Many factors, both known and unknown, could cause 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
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08.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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