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Vancouver, British Columbia – (Newsfile Corp.- August 25, 2020) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) (“Millennial” or the “Company”) is pleased to provide an update on its operations on its flagship Big Lithium Pasture assignment in Salta, Argentina. Despite restrictions in the country for COVID-19, Millennial has complex pilot ponds and its pilot plant at the assignment site. In addition, Millennial continues to paint with the local networked paintings of Big Pastures and has more complex paintings in the networked paint/shared warehouse center in the village, as well as the commissioning of the freshwater well and pumping system.
Farhad Abasov, president and chief executive, said: “Millennial is pleased to announce that it continues to operate in the Puna region and advances its Large Pastures assignment with very little delay due to COVID-19. The feed brine in the pilot ponds concentrates lithium as expected and we have reached 2% Li in several of the feeding basins. In addition, tests at the pilot plant involve any leakage in the formula and initial SX testing shows that all appliances are in intelligent operating order. Testing of the other stages of the procedure is underway and we plan to fully put the plant into service in the coming weeks. Millennial remains well funded and continues its fundraising efforts to advance the progression of the Big Pasture allocation. Despite COVID-19’s restrictions and slowdown, the company continued to progress in its discussions and documentation with a number of strategic buyers and investors. We are on the right track with all our commercial programs.”
Pilot paints in the Large Pastures pond continue to concentrate lithium on the brine that will be used to force the pilot plant once the target content of 2.5% -3% li is achieved. Currently, the content of several of the smallest feeding basins is 2% Li and it is expected that with the arrival of the maximum evaporation season, the brine will reach the nominal content of the plant of 2.5% -3% li during the coming months. The brin chemistry, i.e. the concentrations of B, Ca, Mg and SO4, is consistent with the plant design parameters.
The pilot plant, designed to produce 3 tons consistent with one month of lithium carbonate, underwent waterproofing and final optimization tests for strength brine preparation. Leak testing and solvent extraction formula (SX) testing have been a success with only small adjustments to the device. Further testing of carbonation reactors, the main carbonation stage reactor, ion exchange (IX) and CO2 purification formula are underway. All reagents are on site and are not expected to stop due to lack of appliances once the brine has the quality of the plant and the plant is put into service.
Millennial continues to paint with local netpaintings in Santa Rosa de los Pastos Grandes and the painting design is underway to start Phase 2 of the netpaintings center structure, mainly offices and paint spaces for small local businesses. In addition, the electrical connection of the freshwater well and the pumping station is complete and fresh, you must have blank water for the population of Big Pastes.
This press has been reviewed through Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and qualified user in the sense explained in Regulation 43-101.
For more information about Millennial Lithium Corp., contact Investor Relations at (604) 662-8184 or email [email protected].
MILLENNIAL LITHIUM CORP.
“Farhad Abasov”
President, CEO and Director
Neither TSX Venture Exchange nor its regulatory service provider (as explained in TSX Venture Exchange policies) assumes the duty of the relevance or accuracy of this release.
This press release would likely involve certain “forward-looking statements” within the meaning of the U.S. Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “objective,” “plan,” “anticipate,” “possibly,” “plan,” and similar words or words identify forward-looking statements or words. These forward-looking statements or data would possibly relate to long-term commodity prices, the accuracy of resource exploration or mining activities, reserves or resources, regulatory or governmental needs or approvals, adding name approvals and the availability of third-party data, continued access to housing or mining infrastructure, adjustments to laws, regulations and regulations in Argentina that would possibly have an effect on the Company or its homes or its home or of those homes. Fix exchange risks by adding the exchange rate from $a C$, fluctuations in the lithium market, adjustments in government exploration and royalties prices, export or tax policies in Argentina and other points or data. Existing plans, expectations and intentions for the progression of your Big Pastures business and allocation would possibly be affected by economic insecurities arising from the Covid-19 pandemic or by having an effect on existing monetary situations and other market situations on their ability to discharge additional financing or financing from the large pastures. Such statements constitute the Company’s existing prospects related to long-term occasions and are necessarily based on a number of assumptions and estimates that, although considered moderate through the Company, are inherently subject to risks, contingencies and insecurities. Many known and unknown points may also result in results, functionality, or accomplishments, particularly different from the results, functionality, or achievements that are expressed or possibly expressed or implied through such forward-looking statements. The Company has no intention, and assumes no obligation, to update such forward-looking statements or data to reflect adjustments to assumptions or adjustments in cases or any other occasion affecting such statements and data other than those required by laws, regulations and regulations.
To view the original edition of this press release, https://www.newsfilecorp.com/release/62465