Firm Substantially Increases Lithium Resource in Argentina

Source: Streetwise Reports   04/20/2019

The firm released the results of an independently prepared updated estimate.

Millennial Lithium Corp. (ML:TSX.V; MLNLF:OTCMKTS) increased the Measured and Indicated (M&I) lithium resources at its Pastos Grandes project nearly 100%, it announced in a news release.

The updated, NI 43-101 lithium and potassium resource at this brine project in Argentina now encompasses 4.12 million tons (4.12 Mt) of lithium carbonate equivalent (LCE) and 15.342 Mt of potash in the M&I category. This reflects a near doubling of the previous M&I resource estimate in 2017, which was 2.131 Mt of LCE.

“This sizable increase in our resource positions Millennial as one of the most prospective lithium brine projects in the world with the potential for a significant lithium operation,” President and CEO Farhad Abasov said in the release.

Additionally, in the Inferred category, there are 798,000 tons of LCE and 2.973 Mt of potassium chloride at Pastos Grandes.

E.L. Montgomery and Associates prepared the updated estimate of the resource that was defined over a 45 square kilometer area.

Millennial Lithium is continuing to work on a feasibility study for Pastos Grandes and construction of a pilot plant. Both are expected to be completed in Q2/19.

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( Companies Mentioned: ML:TSX.V; MLNLF:OTCMKTS, )