Lithium Power International Limited (ASX:LPI) (“LPI” or “the Company”) is pleased to submit its quarterly Activity Report for the period ended 31 March 2018.
HIGHLIGHTS
- Lithium carbonate pilot plant results produced from Salar de Maricunga brine achieved a purity level of 99.9% from experienced process company Veolia. The samples had significantly fewer impurities than the targeted impurity levels. These results are in addition to the previous announcement of 19 February 2018, where initial lithium carbonate pilot plant results had a purity of 99.4%, by recognised chemical company GEA.
- The production results exceed battery grade lithium carbonate requirements and demonstrate a viable, cost-effective process. Work to optimise this process, as an input to the project’s definitive feasibility study (DFS), is continuing.
- The Maricunga JV received a Chilean Nuclear Energy Commission (CCHEN) permit for the production and export of lithium from the grandfathered, old mining code properties of Cocina, San Francisco, Salamina and Despreciada. It is important to understand that this permit covers part of the resource, applying to the old mining code properties only.
- The permit lasts 30 years and allows the extraction of 472,000 tonnes of lithium carbonate equivalent (LCE) to the base of the current drilling to 200 m. The CCHEN permit can be increased to approve an additional quota based on future deeper drilling if additional resources are identified.
- A special lithium operations permit (CEOL) is in the application process for the exploitation of lithium from the Litio properties, which are covered under the new mining code.
- LPI brought forward its final three Maricunga JV earn-in payments of US$7.53m, completing its earn in for 50% of the project. Funds invested by the Company now total US$27.2m.
- The JV is finalising the Environmental Impact Assessment due for submission in 2Q 2018. Infrastructure and engineering studies are continuing for the DFS due in 4Q 2018.
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