Lithium Power International Ltd: Quarterly Activities Report ended 30 September 2017
Sydney - Lithium Power International Ltd. (ASX:LPI) (OTCMKTS:LTHHF) ('LPI' or 'the Company') is pleased to submit this Quarterly Activity Report for the period ended 30 September 2017.HIGHLIGHTS
- 5% lithium concentration successfully achieved in Maricunga stage 1 process test work with stage 2 test work well underway and first production of Li2CO3 and KCL (test samples) expected by the end of December 2017.
- The process flow sheet (see Appendix A in link below) is now subject to final optimisation.
- Advanced production testing of the lithium and potash extraction processes continues at the pilot plant stage, using tier-1 equipment suppliers Veolia, GEA, Andritz and FLSmidth and certified laboratories using brine and salts from the Maricunga project site pilot ponds.
- The production process utilizes conventional brine processing technology, consisting of evaporation ponds for brine concentration and proven processes on the concentrated brine, to minimise uncertainty over future operations. The process will produce lithium carbonate with potash (KCl) as an additional product once the lithium operation is established. Engineering and plant design is well advanced for the Maricunga lithium project feasibility study.
- Geotechnical site investigation testing (pits, drilling) has been completed on the plant and pond sites to provide information for construction engineering design. The layout design of the ponds for brine evaporation is also nearing completion.
- The company signed a term sheet with Albertson Resources Pty Ltd to sell the Centenario lithium project in Argentina for a total of A$3.75M, with a 1.5% gross royalty. The initial payment of A$150,000 has been received, with an A$850,000 cash payment due on entry into the long form agreement and A$2.75M in cash or a total of A$3M, a mixture of A$1.5M in cash and A$1.5M in shares, should the buyer opt for a cash/ shares settlement.
- NI43-101 report released providing additional details on the updated Maricunga resource estimate, that resulted in a 3.7 fold increase of high grade Measured, Indicated and Inferred resource to 2.15Mt of lithium carbonate equivalent (LCE) and 5.7Mt potassium chloride (KCl) to a depth of 200m (reported in accordance with JORC Code (2012) on 12 July 2017).
To view the full report, please visit:
http://abnnewswire.net/lnk/311IYMX4
To view Quarterly Cashflow Report, please visit:
http://abnnewswire.net/lnk/F9B1KE91
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).
Contact:
Lithium Power International Ltd.
Martin C Holland - CEO
E: info@lithiumpowerinternational.com
T: +61-2-9276-1245
www.lithiumpowerinternational.com
Twitter: @LithiumPowerLPI