Lithium Power International Ltd: Maricunga Lithium Brine JV Updated DFS Completion Date
Sydney, Australia - Lithium Power International Ltd. (ASX:LPI) (OTCMKTS:LTHHF) (LPI or the Company) confirms that the project Definitive Feasibility Study (DFS) is in the final stages of completion awaiting the final independent written report from WorleyParsons.It is anticipated that WorleyParsons will have the final documentation completed for a detailed release of the DFS outcomes early in the New Year. This will meet AACE 18R-97, Class 2 estimation standards with a +/-15% accuracy.
WorleyParsons is a global engineering company with headquarters in Australia and is listed on the ASX. The company has extensive expertise in engineering, procurement and construction and working across the infrastructure, mining, chemicals and hydrocarbon sectors. WorleyParsons undertook engineering design for the Definitive Feasibility Study on the Cauchari lithium brine project in Argentina. The company has also undertaken extensive engineering and feasibility works at the largest producing lithium brine project at the Salar de Atacama in Chile. The company brings a wealth of infrastructure design, geotechnical, chemical, mechanical and electrical skills to the project.
Lithium Power International's Chief Executive Officer, Cristobal Garcia-Huidobro, commented:
"We look forward to providing the results to shareholders early in the New Year. We wish all our shareholders well for the festive season and thank them for their support during 2018. For the Company, 2019 promises to be an exciting year, with completion of the feasibility study and the project advancing to approval of the project Environmental Impact Assessment (EIA). The lithium market continues to have a very positive outlook and we look forward to moving the project towards development."
Maricunga JV Background
The Maricunga JV is 51%-owned by LPI. The project is regarded as one of the highest quality undeveloped pre-production lithium brine projects globally, with a very high lithium grade and strong flow rates. Details of the project DFS will be provided early in 2019, with the project EIA under review pending approval.
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:
Andrew Phillips - Company Secretary Lithium Power International E: info@lithiumpowerinternational.com Ph: +61-2-9276-1245 www.lithiumpowerinternational.com Twitter: @LithiumPowerLPI
