Millennial Lithium Announces Approximately 100 percent Increase to 4,200,000 Tonnes in Measured and Indicated Lithium Resources at Pastos Grandes
(PresseBox) - Millennial Lithium Corp. (the "Company") (TSX-V:ML - https://www.commodity-tv.net/c/search_adv/?v=298888), is pleased to report an updated& Associates in its previous report titled Measured, Indicated and Inferred Lithium and Potassium Resource Estimate Pastos Grandes Project Salta Province, Argentina and dated December 22, 2017, the updated resources represent an almost 100% increase in the Measured and Indicated LCE tonnage (2017 value of 2,131,000 tonnes LCE).
Farhad Abasov, President and CEO of Millennial Lithium, commented on the updated resources for the Pastos Grandes Project, ?We are very excited to see from calculations by our hydrogeological consultants Montgomery & Associates, an approximately 100% increase in the Measured and Indicated lithium resources estimate over the 2017 Measured and Indicated Li resources. This sizable increase in our resource positions Millennial as one of the most prospective lithium brine projects in the world with the potential for a significant lithium operation. The Company now has significant Measured and Indicated lithium resources which, on the completion of ongoing studies, have the potential to be converted to Probable and Possible reserves in support of our Feasibility Study on the Company?s planned lithium carbonate processing operation.
The resource estimate was prepared in accordance with the guidelines of National Instrument 43-101 and uses best practice methods specific to brine resources, including a reliance on core drilling and sampling methods that yield depth-specific chemistry and effective (drainable) porosity measurements. The resource estimation was completed by independent qualified person Mr. Michael Rosko, M.Sc., C.P.G. of the international hydrogeology firm E.L. Montgomery and Associates (M&A).
The resource is defined over a 45 square kilometer footprint using results from rotary and core drilling and depth-specific packer sampling. In addition, the brine was also sampled during long-term (21 days) and short-term pumping (72 hours) tests. The new measured, indicated, and inferred resource was derived from geological and grade/width block models derived from 15,135 metres of core and rotary drilling. The average spacing between core holes is less than 1 km.
The chemistry of the Pastos Grandes brine is judged to be very favourable.
Density of the brine ranges between 1.20 and 1.22 g/cm3
Average Magnesium/Lithium ratio: 2
Average Sulphate/Lithium ratio: 3
Based on the geologic model, approximately 76% of the brine volume in this resource is hosted by predominantly silty and sandy units and 21% by mixed halite.
The total contained lithium and potassium values are based on measurements of effective (drainable) porosity distributed throughout the aquifer volume that defines this resource. This method of porosity determination is designed to estimate the portion of the total porosity that can theoretically be drained by pumping; however, these in situ estimates may
differ from total extractable quantities.
Portions of the resource located in the clastic sediments at the margins of the salar have been demonstrated to have fresh and brackish water overlying brine.
Resource Estimation Methodology
A total of 15,135 metres of drilling from 33 holes was evaluated for this resource estimate calculation.
The consultants chose to estimate the updated resource using Leapfrog Edge, a well-known 3-dimensional block modeling software tool. Hydrostratigraphic units have variable thickness and were determined by the consultants based on observed lithology and anticipated similar hydraulic properties.
The values for drainable porosity and grade (lithium and potassium values) for each hydrostratigraphic unit were derived from direct measured values from the well. The unit thicknesses combined with the areas yield a volume. The volumes combined with the drainable porosity values, representing the amount of fluid available from the formation yield the volume of brine. Applying the grade, represented as lithium carbonate and potassium chloride equivalents reported as weights by volume of brine then provides the estimated resource for each block, which are then summed.
The primary analytical laboratories for the data used in this resource are NORLAB in Jujuy, Argentina and SGS Laboratory in Buenos Aires, Argentina.
The porosity determinations were made by Core Laboratories of Houston, Texas and Geosystems Analysis (GSA) of Tucson, Arizona.roviding state of the art petrophysical and geological analysis and interpretation of core samples from rock.
Qualified Person
The resource evaluation work was completed by Mr. Michael Rosko, M.Sc., C.P.G. of Montgomery and Associates Consultores Limitada (?M&A?).&A have been on site multiple times during the various phases of drilling and sampling operations.&A are completely independent of Millennial Lithium.
Program design and exploration support was provided by Mr. Iain Scarr, (B.Sc. - Geology, MBA, CPG) of Millennial Lithium.thium projects at other lithium bearing salars.
A Technical Report prepared under the guidelines of NI 43-101 standards describing the resource estimation will be filed on SEDAR within 45 days of this release.
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info(at)millenniallithium.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This document may contain ?forward-looking information? within the meaning of Canadian securities legislation (hereinafter referred to as "forward-looking statements"). All statements, other than statements of historical fact, included herein including, without limitation statements relating to the Preliminary Economic Assessment, estimated capital and operating costs, productions rates, cash flows, rates of return, mine life or mineral resources, securing of debt for future project construction, purchase of future mine production, the timing for completion of an Feasibility Study and other matters related to the exploration and development of the Project, are forward-looking statements.n, unanticipated changes in key management personnel and general economic conditions, title disputes as well as those factors detailed from time to time in the Company?s interim and annual financial statements and management?s discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com.s or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual resul
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Datum: 18.04.2019 - 02:00 Uhr
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