CENTURY LITHIUM FILES TECHNICAL REPORT ON THE FEASIBILITY STUDY OF THE CLAYTON VALLEY LITHIUM PROJECT, NEVADA
"Century Lithium is pleased to file the report on the Feasibility Study of our
During the preparation of the Report, minor changes were made to the parameters used to determine the Mineral Resource and Reserve Estimates. The resulting economic analysis is effectively unchanged. Using a base case price of
The Mineral Resource and Reserve Estimates for the Project were updated for the Report and built using geologic data and 1,318 lithium assays from 45 core holes drilled between 2017 and 2022 and have an effective date of
Mineral Resource Estimate |
||||
Domain |
Tonnes Above |
|
Li Contained (million t) |
LCE (million t) |
Measured |
858.26 |
990 |
0.850 |
4.523 |
Indicated |
280.33 |
891 |
0.250 |
1.329 |
Measured & Indicated |
1,138.59 |
966 |
1.099 |
5.582 |
Inferred |
187.28 |
820 |
0.154 |
0.817 |
1.The effective date of the Mineral Resource Estimate is
2.The Mineral Resources are constrained by a pit shell with a 200 ppm Li cut-off and density of 1.505 g/cm3. The cut-off grade considers an operating cost of$20/t mill feed, process recovery of 78% and a long-term lithium carbonate price of 3.The Mineral Resource estimate was prepared in accordance with 2014 CIM Definition Standards and the 2019 CIM Best Practice Guidelines. 4.Mineral Resource figures have been rounded. 5.One tonne of lithium = 5.323 tonnes lithium carbonate. 6.Mineral Resources are inclusive of Mineral Reserves. |
Mineral Reserve Estimate |
||||
Domain |
Tonnes Above Cut- |
|
Li Contained (million t) |
LCE (million t) |
Proven |
266.39 |
1,147 |
0.306 |
1.626 |
Probable |
21.26 |
1,174 |
0.025 |
0.133 |
Proven & Probable |
287.65 |
1,149 |
0.330 |
1.759 |
1.The effective date of the Mineral Reserve Estimate is 2.The Mineral Reserve estimate was prepared in accordance with 2014 CIM Definition Standards and 2019 CIM Best Practice Guidelines.
3.Mineral Reserves are reported within the final pit design at a mining cut-off of 900 ppm. The mine operating cost is 4.The cut-off of 900 ppm is an elevated cut-off selected for the mine production schedule as the elevated cut-off is 4.5 times higher than the break-even cut-off grade. 5. Mineral Reserve figures have been rounded. 6.One tonne of lithium=5.323 tonnes lithium carbonate |
Mining is by mechanized surface excavation of claystone at production rates of 7,500 to 22,500 tonnes/day of mill feed, and 13,000 to 39,000 tonnes/year of lithium carbonate. Lithium recovery is through Century's patent-pending process that combines chloride leaching with direct lithium extraction to produce a marketable battery-quality product at the Project site.
The Report is available on SEDAR+ and on the Company's website.
Century Lithium Corp. is an advanced stage lithium company, focused on developing its 100%-owned
ON BEHALF OF CENTURY LITHIUM CORP.
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" and similar expressions suggesting future outcomes or statements regarding an outlook.
Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company's future development plans.
These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. These risks include those described under the heading "Risk Factors" in the Company's most recent annual information form and its other public filings, copies of which can be under the Company's profile at www.sedarplus.com . The Company expressly disclaims any obligation to update-forward-looking information except as required by applicable law. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place reliance on forward-looking statements or information. Furthermore, Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
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