Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) (“Millennial” or the “Company”) is pleased to announce that is has engaged WorleyParsons Chile S.A. to complete a Feasibility Study (FS) on its flagship Pastos Grandes Project in Salta, Argentina.
WorleyParsons is a leading global provider of professional services to the resource and energy sectors, and the complex processing industries. With approximately 25,700 personnel in 112 offices in 42 countries around the globe (including 150 employees in Chile), WorleyParsons has a significant and respected global footprint in the engineering and resources fields. WorleyParsons has over 22 years’ experience in the lithium industry including engineering development for lithium production from brines. Past clients in the lithium sector include Millennial Lithium for the Pastos Grandes Preliminary Economic Assessment.
Millennial has engaged WorleyParsons to complete an AACE Class 3 Feasibility Study A on its flagship lithium project, Pastos Grandes, in Salta, Argentina with a projected accuracy for CAPEX and OPEX of +/- 15%. The FS is based on production of 25,000 Tonnes Per Year (TPY) of lithium carbonate equivalent (LCE) and is scheduled for completion in Q1 2019. The Agreement to engage WorleyParsons is subject to the completion, on or before July 31, 2018, of a definitive agreement between the parties.
Farhad Abasov, Millennial President and CEO, commented, “We are very pleased to once again be working with WorleyParsons who bring a wealth of lithium knowledge and experience to our Pastos Grandes Project. WorleyParsons is a leading global engineering firm and has been involved in all aspects of lithium brine operations in Argentina and Chile.”
This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the Company and a qualified person as that term is defined in National Instrument 43-101.
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.
MILLENNIAL LITHIUM CORP.
“Farhad Abasov”
CEO, Director
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This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.