Advantage Lithium Corp. confirmed positive progress with its Pre-Feasibility Study (“PFS”) on the Cauchari JV project in Jujuy province (75% Advantage Lithium, 25% Orocobre Ltd.). The PFS remains on schedule for completion in early September with release of the NI43-101 Independent Technical Report within 45 days.
Following the successful 2018 drill campaign and substantial increase in contained mineral resource to 4.8Mt LCEi in Measured and Indicated categories and 1.5Mt LCE in Inferred category, the PFS was commissioned in May 2019 to assess the optimal production and processing profile to deliver maximum value from the expanded mineral resource. The PFS will include a mineral reserve, Opex and Capex within +/-25% accuracy, and financial analysis based on realistic and reasonable economic and engineering inputs.
The Company is also confident that the final PFS document will provide a solid basis for on-going funding discussions. Over the past few months the Company has engaged with several companies interested in the Cauchari JV project. These parties have completed their due diligence including site visits and technical review. With the completed PFS in hand by September, discussions with these and other interested parties will continue.
“Completion of the PFS will mark a significant milestone for the Company”,commented Callum Grant, Interim CEO. “It has provided the opportunity to assess alternative production and processing options to an improved level of technical accuracy compared to the 2018 PEA with the objective of unlocking maximum value from the asset”.