TA Perspective, page-934

Don't forget this our close peer has made a remarkable run yesterday on the back of the company announcing some updates to the market. This sector is getting ready for a strong and long lasting reversal. I am now bullish LPI.


Millennial Provides Update of Ongoing Feasibility Study and Pilot Testwork at its Pastos Grandes Lithium Project, Argentina

Aug 21, 2018
Millennial Lithium Corp. (ML: TSX.V) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) (“Millennial” or the “Company” is pleased to announce that there has been significant progress on its flagship Pastos Grandes Project in Salta, Argentina. Millennial has initiated numerous studies in support of its ongoing basic engineering and Feasibility Study recently initiated by WorleyParsons Chile.
Farhad Abasov, Millennial President and CEO, commented “We are very pleased with the progress at our Pastos Grandes Project. WorleyParsons is advancing the Pastos Grandes Feasibility Study which remains on schedule for completion in Q1 2019. Technical studies in support of the Feasibility Study, including exploration drilling, pumping well tests and geophysics are well underway on the REMSA license that comprises part of the Pastos Grandes Project. The pilot pond earthworks have been completed and lining will begin shortly followed by filling the ponds with brine from our pumping well PGPW18-4. The pilot plant design is advancing and construction of the 3 tonne-per-month lithium carbonate plant is expected to begin in Q4 2018 ”
Drilling
Exploration drilling has been initiated in the recently acquired REMSA license. Thirteen additional holes are programmed in the new area; this work is expected expand the lithium resources at the project and, with pumping tests, establish reserves for the project. First drill results from the current program are expected in September, 2018.
Pumping Well Testwork
A minimum three pumping wells are planned. The first is near previous hole PGMW17-4b which intersected an aquifer approximately 381.5m thick yielding 535 mg/l lithium. The pumping test work is scheduled to begin in early September 2018; the brine will be captured in the pilot ponds located adjacent to the well to be used for pilot-scale processing. The additional pumping wells are planned for the REMSA license and will be located once analytical data is received.
Pilot Pond Testwork
Pilot pond earthworks with internal baffles has been completed and lining of the ponds with geotextile followed by HDPE liner to commence by month end. The main pond set, consisting of four segments, is 150m by 150m and a second pond set measures 100m by 100m. These ponds are expected to provide plant grade brine via solar evaporation for a pilot plant that is planned produce lithium carbonate production data to be utilized in the detailed engineering for the commercial plant. Construction of the ponds is documented in recent photos located on the Company’s web-site (www.millenniallithium.com).
Geophysical Studies
Ground geophysical studies are also underway at Millennial’s Pastos Grandes Project including a seismic survey and a TEM survey, both designed to delineate the extension of the brine bearing horizon on the Pastos Grandes core licenses onto the contiguous REMSA license to the south. The surveys are in progress with estimated completion and interpretation delivery in September 2018.
Pilot Plant
An on-site laboratory and a pilot plant capable of producing 3 tonnes per month of lithium carbonate are in the design and procurements stages with construction to commence early in Q4 2018. The plant is to be operated at the project site near the pilot pond operation and is expected to include impurity removal via solvent extraction and, carbonation and ion exchange to produce high purity lithium carbonate. The plant will provide valuable data for the detailed engineering of the commercial plant, important operational experience for the Millennial team, and tonne-lot quantities of lithium carbonate for customer trials.
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 [email protected].
MILLENNIAL LITHIUM CORP.
“Farhad Abasov”