Firm Substantially Increases Lithium Resource in Argentina

April 25, 2019

The Energy Report

Source: Streetwise Reports   04/20/2019

The firm released the results of an independently prepared updated estimate.

Millennial Lithium Corp. (ML:TSX.V; MLNLF:OTCMKTS) increased the Measured and Indicated (M&I) lithium resources at its Pastos Grandes project nearly 100%, it announced in a news release.

The updated, NI 43-101 lithium and potassium resource at this brine project in Argentina now encompasses 4.12 million tons (4.12 Mt) of lithium carbonate equivalent (LCE) and 15.342 Mt of potash in the M&I category. This reflects a near doubling of the previous M&I resource estimate in 2017, which was 2.131 Mt of LCE.

Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

“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,” President and CEO Farhad Abasov said in the release.

Additionally, in the Inferred category, there are 798,000 tons of LCE and 2.973 Mt of potassium chloride at Pastos Grandes.

E.L. Montgomery and Associates prepared the updated estimate of the resource that was defined over a 45 square kilometer area.

Millennial Lithium is continuing to work on a feasibility study for Pastos Grandes and construction of a pilot plant. Both are expected to be completed in Q2/19.

Sign up for our FREE newsletter at:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

( Companies Mentioned: ML:TSX.V; MLNLF:OTCMKTS,