LSC Lithium Corporation announced that it has advanced exploration and preliminary engineering study activities on its lead project, the Pozuelos-Pastos Grandes Project (the “PPGProject”) and is continuing its strategic review process with BMO Capital Markets.
Pozuelos Highlights:
- Five hole pump test program ongoing
- Access preparation underway for three Mineral Resource upgrade holes
- Seismic survey nearing completion
- New camp build progressing
- Upgraded NI 43-101 Mineral Resource due Q4 2018
Pastos Grandes Highlights:
- Resource drilling ongoing with first of two 500m holes near completion
- Seismic survey completed with results pending
- Maiden NI 43-101 Mineral Resource due Q4 2018
LSC’s President and CEO Ian Stalker, noted, “LSC’s strategy is to pursue the current development program at its combined Pozuelos-Pastos Grandes project. This project offers substantial synergies from brine chemistry combinations as well as the potential size of resource. The project development program is on track with the planned delivery of the upgraded NI 43-101 Mineral Resource estimate on the Pozuelos section and the maiden NI 43-101 Mineral Resource estimate on the Pastos Grandes section of the PPG Project later this year, as well as delivery of the PEA on this project by year end. BMO Capital Market’s strategic input is strongly welcomed and progress is being made in a range of key alternatives.”
Engineering work on the PPG Project has commenced with process development and discussions with energy suppliers. The Environmental Impact Statement baseline studies are nearing completion and submission to the regulator is planned for Q4 2018.
As announced recently, LSC has completed its engineering company selection process and selected GHD Limited as the lead engineer for the PEA and subsequent studies. The PEA on the PPG Project is expected to be completed in Q4 2018, followed by a PFS in mid-2019. The studies will focus on leveraging the promising results from the pump tests by pursuing selective extraction of the resource and optimizing the feed grade in the evaporation ponds.
