Lithium Power International Ltd: Quarterly Activities Report ended 31 March 2018
Sydney - Lithium Power International Ltd. (ASX:LPI) (OTCMKTS:LTHHF) ("LPI" or "the Company") is pleased to submit its quarterly Activity Report for the period ended 31 March 2018.HIGHLIGHTS
- Lithium carbonate pilot plant results produced from Salar de Maricunga brine achieved a purity level of 99.9% from experienced process company Veolia. The samples had significantly fewer impurities than the targeted impurity levels. These results are in addition to the previous announcement of 19 February 2018, where initial lithium carbonate pilot plant results had a purity of 99.4%, by recognised chemical company GEA.
- The production results exceed battery grade lithium carbonate requirements and demonstrate a viable, cost-effective process. Work to optimise this process, as an input to the project's definitive feasibility study (DFS), is continuing.
- The Maricunga JV received a Chilean Nuclear Energy Commission (CCHEN) permit for the production and export of lithium from the grandfathered, old mining code properties of Cocina, San Francisco, Salamina and Despreciada. It is important to understand that this permit covers part of the resource, applying to the old mining code properties only.
- The permit lasts 30 years and allows the extraction of 472,000 tonnes of lithium carbonate equivalent (LCE) to the base of the current drilling to 200 m. The CCHEN permit can be increased to approve an additional quota based on future deeper drilling if additional resources are identified.
- A special lithium operations permit (CEOL) is in the application process for the exploitation of lithium from the Litio properties, which are covered under the new mining code.
- LPI brought forward its final three Maricunga JV earn-in payments of US$7.53m, completing its earn in for 50% of the project. Funds invested by the Company now total US$27.2m.
- The JV is finalising the Environmental Impact Assessment due for submission in 2Q 2018. Infrastructure and engineering studies are continuing for the DFS due in 4Q 2018.
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http://abnnewswire.net/lnk/0ZXJYB46
About Lithium Power International Ltd:
Lithium Power International Ltd. (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).
Source: Lithium Power International Ltd.
Contact:
Martin C Holland - CEO Lithium Power International
E: info@lithiumpowerinternational.com
T: +61-2-9276-1245
www.lithiumpowerinternational.com
Twitter: @LithiumPowerLPI
