POCITOS NORTH – CRUZ PROJECT
The Cruz Project covers over 2,500 hectares of the northern portion of the Pocitos Salar. The project lies 11km south of ADY Resources Ltd’s lithium brine resource in the Salar del.
Global demand for lithium carbonate to rise to more than 500,000 mT by 2025 from 163,000 mT in 2015, with larger spikes anticipated post-2025.
Millennial has a world class technical team which is supported by a team of industry professionals with strong political and business relationships within Argentina.
The 2,500 hectare Cruz Property lies at the north end of the Pocitos salar basin in Salta province, Argentina.
The Cruz property is at the junction of a large north-south fault system and a northwest southeast mega structure, along which lies the Rincon volcano, the possible source of the Rincon Salar lithium brine.
In the 1970s, a government agency drilled a single shallow hole and subsequent surface sampling encountered lithium values as high as 400 mg/L south of the property.
More recent sampling campaigns tend to show higher lithium concentrations along the deep faults, supporting the conclusion that these faults are conduits for lithium bearing fluids emitted by the volcanic center just north of the property.
DRILLING TO COMMENCE IN Q1 2017.
The scientific and technical information relating to the The Cruz Project contained herein has been prepared and verified by Iain Scarr, AIPG CPG., Chief Operating Officer of the and a Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.
The project is largely de-risked by it low-tech, low-cost production profile.
The Company is scheduled to publish a preliminary economic assessment (PEA) as early as the summer.
Cost-cutting synergies can be achieved by sharing power, rails, roads, and other logistical requirements with other operators.