Bearing Lithium Joint Venture Secures Key Infrastructure for Maricunga Project
30 10월 2018 - 9:02PM
Bearing Lithium Corp. ("
Bearing" or the
"
Company") (TSX Venture: BRZ) (OTCQB:BLILF)
(FRANKFURT: B6K2) is pleased to announce that the joint-venture
company, Minera Salar Blanco (“MSB”), has secured water rights and
is in final negotiations for key electricity infrastructure for the
Maricunga Lithium Project (the “Maricunga Project”) in Chile.
Bearing holds an 18% interest in the Maricunga Project through its
corresponding 18% ownership in MSB.
Project infrastructure
MSB has negotiated and secured rights to process
water capable of supplying ample water for the planned industrial
operation as outlined in the December 2017 Preliminary Economic
Assessment (“PEA”). As outlined in the PEA, the industrial water
requirements for the 20,000 tpa of lithium carbonate production
plus potash requires approximately 100 m3/h. Long-term pump tests
demonstrated sustainable flow rates in excess of 125 m3/h. The
20-year agreement was finalized on October 9th, 2018.
The Chilean electricity regulator, Coordinador
Nacional Electrico, has authorized MSB to use the existing
transmission infrastructure for the project. Negotiations regarding
final conditions are ongoing with the owner of the power line and
will be finalized within the next quarter (Q1/2019).
Project Definitive Feasibility Study
(DFS)
The Maricunga Definitive Feasibility Study,
which is being prepared by Worley Parsons, remains on-track for
completion in December 2018. Remaining activities include the
finalization of the reserve model and the engineering for the
production plants, which is being further developed by GEA Messo in
Germany, are all nearing completion.
Strategic Objectives for Joint-Venture
in 2019
In the recent months, the joint-venture (“JV”)
has received approaches from third-parties offering project
finance, acquisition of equity in the company and/or off-take
relationships. It has been the JV’s agreed strategy not to progress
with potential off-take partnerships or project financing until the
completion of the Definitive Feasibility Study (DFS) in December
2018. The focus of 2019 will be on securing the long-term funding
and/or off-take agreements required for developing the project.
Jeremy Poirier, Bearing’s CEO and President
commented: “We are excited to have de-risked the project further,
having secured long term agreements on critical infrastructure. We
look forward to receipt of the Definitive Feasibility Study in
December and further advancements on securing project funding in
2019.”
About Bearing Lithium Corp.
Bearing Lithium Corp. is a lithium-focused
mineral exploration and development company. Its primary asset is
an 18% interest in the Maricunga lithium brine project in Chile.
The Maricunga Project represents one of the highest-grade lithium
brine salars globally and the only pre-production project in Chile.
Over US$30 million has been invested in the Maricunga Project to
date and all expenditures through 2018, including the delivery of a
Definitive Feasibility Study in Q4/2018, have been fully-funded by
the earn-in joint-venture partner.
ON BEHALF OF THE BOARD Signed "Jeremy Poirier"
Jeremy Poirier, President and CEO FOR FURTHER INFORMATION PLEASE
CONTACT: Jeremy Poirier-- President and CEO Bearing Lithium -
Telephone: 1-604-262-8835 Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Cautionary Statements
Regarding Forward Looking Information
This press release includes certain
"forward-looking information” and "forward-looking statements”
(collectively "forward-looking statements”) within the meaning of
applicable Canadian and United States securities legislation
including the United States Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical
fact, included herein, without limitation, statements relating the
future operating or financial performance of the Company, are
forward-looking statements.
Forward-looking statements are frequently, but
not always, identified by words such as "expects”, "anticipates”,
"believes”, "intends”, "estimates”, "potential”, "possible”, and
similar expressions, or statements that events, conditions, or
results "will”, "may”, "could”, or "should” occur or be achieved.
Forward-looking statements in this press release relate to, among
other things, completion of a Definitive Feasibility Study, project
financing and the future prospects of the Maricunga Project. Actual
future results may differ materially. There can be no assurance
that such statements will prove to be accurate, and actual results
and future events could differ materially from those anticipated in
such statements. Forward-looking statements reflect the beliefs,
opinions and projections on the date the statements are made and
are 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
uncertainties and contingencies. Many factors, both known and
unknown, could cause actual 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 and the parties have made assumptions
and estimates based on or related to many of these factors. Such
factors include, without limitation: the occurrence of unexpected
financial obligations, fluctuations in the price of lithium or
certain other commodities; fluctuations in the currency markets;
changes in national and local government, legislation, taxation,
controls, regulations and political or economic developments; risks
and hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial
accidents, unusual or unexpected formations, pressures, cave-ins
and flooding); the presence of laws and regulations that may impose
restrictions on mining and employee relations. Readers should not
place undue reliance on the forward-looking statements and
information contained in this news release concerning these times.
Except as required by law, the Company does not assume any
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except
as required by law.
Bearing Lithium (TSXV:BRZ)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024
Bearing Lithium (TSXV:BRZ)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024