Lithium Power International Ltd: Quarterly Activities Report, September 2019
During the quarter Lithium Power International Ltd. (ASX:LPI) (FRA:24L) (OTCMKTS:LTHHF) announced a Memorandum of Understanding (MOU) with the Chilean Government mining company, CODELCO, which has been given the responsibility for advancing lithium joint ventures in Chile. CODELCO is the world's largest copper producer and has well established relationships with all Chilean Government agencies.Highlights:
- The MOU sets out the basic terms of co-development of the Maricunga salar, with details of the agreement currently under negotiation.
- The Maricunga project's Environmental Impact Assessment (EIA) continues through the assessment process by Chilean government agencies, with a resolution expected in Q1 2020.
- The Company continues to hold discussions with a number of well-established companies regarding future product off-take agreements and project finance for the construction of the project.
- The EPC bidding process of the project continues and is expected to be finalised in Q1 2020.
- The approvals process for sampling and drilling activities on the Greenbushes project in south west Western Australia continues to advance. The Company's Greenbushes properties are adjacent to the world's largest hard rock lithium mines at Greenbushes, operated by Albemarle and Tianqui.
- Drilling was conducted on the Tabba Tabba project in the Pilbara region of Western Australia during August. The program consisted of 31 holes for 3081 m, targeting mapped pegmatites in greenstone belts on the property. Drilling returned maximum values of 0.47% Li2O, with several areas within the project not drill tested in the program.
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About Lithium Power International Ltd:
Lithium Power International Ltd. (ASX:LPI) 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 focused on are:
1. Maricunga JV (Chile) – Located within the "Lithium Triangle", Maricunga is Chile's highest grade and most advanced lithium project outside the Salar de Atacama. The project lies 170 km northeast of Copiapo and 250 km from the port of Caldera.
2. Pilbara (Western Australia) – LPI has three granted exploration tenements covering 203 km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is the Pilgangoora tenement which is 2-3 km west of the Pilbara Minerals (ASX:PLS) and Altura Mining (ASX:AJM) lithium deposits.
3. Greenbushes (Western Australia) – LPI has two granted exploration tenements covering 400 km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world's largest hard rock lithium mine owned and operated by Tianqi/Talison.
4. Centenario (Argentina) – Through its Argentinian subsidiary, Lithium Power holds a total of seven granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the seven granted tenements cover an area of 68.46 km2.
With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenements).
Source: Lithium Power International Ltd.
Contact:
Cristobal Garcia-Huidobro - CEO; or Andrew Phillips - CFO Lithium Power International E: info@lithiumpowerinternational.com Ph: +61 2 9089 8723 www.lithiumpowerinternational.com @LithiumPowerLPI