American Lithium Corp. (“
American Lithium” or the
“
Company”) (TSX-V:LI | Nasdaq:AMLI |
Frankfurt:5LA1) is pleased to provide an update on the optimization
of the Falchani processing flow-sheet. This update is based on
recently completed, and ongoing, test work at Australian Nuclear
Science and Technology Organization Laboratories in Sydney,
Australia (“ANSTO”) in conjunction with TECMMINE in Lima, Peru
(“TECMMINE”).
The unique volcanic style of lithium
mineralization at Falchani, combined with low impurity content
allows its flow-sheet to resemble more conventional mining /
processing flow-sheets versus most hardrock lithium projects where
concentrates are produced and then shipped elsewhere for further
refining into higher quality products. Falchani’s flow-sheet
utilizes warm sulfuric acid leaching and impurity removal steps to
produce a high purity lithium carbonate (“LC”) end product on site
with purity in excess of 99.5%, typically the threshold for battery
grade LC. This helps drive the robust economics, particularly the
low operating costs, highlighted in the Company’s original and
recently updated Preliminary Economic Assessments (“PEA’s”). There
is no need for additional refining steps offshore.
The Company believes it can further reduce acid
consumption and reagent costs and optimize the production of LC as
well as highly economic / strategic by-products by implementing a
number of additional tried and tested hydrometallurgical processing
steps into the core flow-sheet. This work has yielded strong
results, and the Company currently intends to commence piloting
work for its Falchani Project during H2, 2024.
HIGHLIGHTS FROM LATEST TEST WORK ON
FALCHANI FLOW-SHEET:
- Reduction of
sulfuric acid consumption by approximately 50% from 480-500 kg per
tonne (“kg/t”) (February 2024 PEA), down to 240 kg/t processed by
utilizing counter-current leaching and simple recycling of
acid-containing streams coupled with leach optimization.
- Reduced acid
consumption / recycling also has the implication of considerably
reducing reagent requirements during final waste neutralization,
which positively impacts the projected operating costs
further.
- Potential to
further simplify the flow-sheet by employing Solvent Extraction
(“SX”):
- Initial testing
with SX has demonstrated potential to separate even higher purity
lithium at an earlier stage with the rejection of key
impurities;
- SX may remove
several processing steps from the flow-sheet leading to reduced
capex and lower reagent consumption; and
- ANSTO continues
to refine / optimize the potential use of SX in the Falchani
flow-sheet.
- At $5,092/t LC,
current projected operating costs for Falchani (February 2024 PEA)
are already amongst the lowest globally
- Recent
improvements / optimization steps and the introduction of higher
quality by-products should materially reduce costs further.
- Continued improvement in the
specification of key by-products;
- Sulfate of Potash (“KSOP”) recovery
has been optimized and meets the parameters of producers and
traders of potassium (“K”)-based fertilizers;
- Approximately 40% of the K available
in Falchani’s Lithium mineralization can be recovered as
high-quality KSOP;
- Concentration of
Cesium Sulfate (“Cs”) has improved to approximately 20% Cs content,
the threshold at which it would become a commercially viable
by-product.
- TECMMINE has
recently run numerous additional full cycle tests on the existing
“lithium-only” flow-sheet and continues to produce high purity LC
with purities between 99.50% – 99.87% LC.
Simon Clarke, CEO of American Lithium stated:
“We are very excited about recent flow-sheet work in which we
continue to produce high purity LC exceeding battery grade
thresholds in repeated full-cycle tests giving us confidence to
start piloting later this year. Recent work focusing on
counter-current leaching and SX has been extremely positive not
only for producing high-quality by-products with strong strategic
and economic value but also for optimization and material cost
reduction. We will continue to refine these additions to the
flow-sheet with ANSTO and TECMMINE with the goal of also
introducing them into our pilot work at the appropriate time.”
Qualified PersonMr. Ted
O’Connor, P.Geo., a Director of American Lithium, and a Qualified
Person as defined by National Instrument 43-101 Standards of
Disclosure for Mineral Projects, has reviewed and approved the
scientific and technical information contained in this news
release.
About ANSTO MineralsANSTO
Minerals is an international mining consultancy group located in
Sydney, Australia, with an experienced team of 60+ engineers,
metallurgists, chemists, and scientists who have been providing
consulting services and process development services to the mining
and minerals processing industries for well over 35 years. ANSTO
Minerals has world-leading expertise in uranium ore processing,
rare earth processing, zirconium/niobium/hafnium processing, base
metals processing, lithium processing (brines and hardrock), and
radioactivity control and management.
About TECCMINETECMMINE E.I.R.L.
is a Peruvian metallurgical consulting company based in Lima, Peru
with mineral processing and metallurgical testing laboratory
facilities and experienced metallurgical personnel led by Eng. Jose
Malqui.
About American
LithiumAmerican Lithium is actively engaged in the
development of large-scale lithium projects within mining-friendly
jurisdictions throughout the Americas. The Company is currently
focused on enabling the shift to the new energy paradigm through
the continued development of its strategically located TLC lithium
project (“TLC”) in the richly mineralized Esmeralda lithium
district in Nevada, as well as continuing to advance its Falchani
lithium (“Falchani”) and Macusani uranium (“Macusani”)
development-stage projects in southeastern Peru. All three
projects, TLC, Falchani and Macusani have been through robust
preliminary economic assessments, exhibit strong significant
expansion potential and enjoy strong community support.
For more information, please contact the Company
at info@americanlithiumcorp.com or visit our website
at www.americanlithiumcorp.com.
Follow us
on Facebook, Twitter and LinkedIn.
On behalf of the Board of Directors of
American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
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 press release.
Cautionary Statement Regarding Forward
Looking Information
This news release contains certain
forward-looking information and forward-looking statements
(collectively “forward-looking statements”) within the meaning of
applicable securities legislation. All statements, other than
statements of historical fact, are forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements regarding the business plans,
expectations and objectives of American Lithium. Forward-looking
statements are frequently identified by such words as "may",
"will", "plan", "expect", "anticipate", "estimate", "intend",
“indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”,
“efforts”, “option” and similar words, or the negative connotations
thereof, referring to future events and results. Forward-looking
statements are based on the current opinions and expectations of
management and are not, and cannot be, a guarantee of future
results or events. Although American Lithium believes that the
current opinions and expectations reflected in such forward-looking
statements are reasonable based on information available at the
time, undue reliance should not be placed on forward-looking
statements since American Lithium can provide no assurance that
such opinions and expectations will prove to be correct. All
forward-looking statements are inherently uncertain and subject to
a variety of assumptions, risks and uncertainties, including risks,
uncertainties and assumptions related to: American Lithium’s
ability to achieve its stated goals;, which could have a material
adverse impact on many aspects of American Lithium’s businesses
including but not limited to: the ability to access mineral
properties for indeterminate amounts of time, the health of the
employees or consultants resulting in delays or diminished
capacity, social or political instability in Peru which in turn
could impact American Lithium’s ability to maintain the continuity
of its business operating requirements, may result in the reduced
availability or failures of various local administration and
critical infrastructure, reduced demand for the American Lithium’s
potential products, availability of materials, global travel
restrictions, and the availability of insurance and the associated
costs; the ongoing ability to work cooperatively with stakeholders,
including but not limited to local communities and all levels of
government; the potential for delays in exploration or development
activities; the interpretation of drill results, the geology, grade
and continuity of mineral deposits; the possibility that any future
exploration, development or mining results will not be consistent
with our expectations; risks that permits will not be obtained as
planned or delays in obtaining permits; mining and development
risks, including risks related to accidents, equipment breakdowns,
labour disputes (including work stoppages, strikes and loss of
personnel) or other unanticipated difficulties with or
interruptions in exploration and development; risks related to
commodity price and foreign exchange rate fluctuations; risks
related to foreign operations; the cyclical nature of the industry
in which American Lithium operates; risks related to failure to
obtain adequate financing on a timely basis and on acceptable terms
or delays in obtaining governmental approvals; risks related to
environmental regulation and liability; political and regulatory
risks associated with mining and exploration; risks related to the
uncertain global economic environment and the effects upon the
global market generally, any of which could continue to negatively
affect global financial markets, including the trading price of
American Lithium’s shares and could negatively affect American
Lithium’s ability to raise capital and may also result in
additional and unknown risks or liabilities to American Lithium.
Other risks and uncertainties related to prospects, properties and
business strategy of American Lithium are identified in the “Risk
Factors” section of American Lithium’s Management’s Discussion and
Analysis filed on May 29, 2024, and in recent securities filings
available at www.sedarplus.ca. Actual events or results may differ
materially from those projected in the forward-looking statements.
American Lithium undertakes no obligation to update forward-looking
statements except as required by applicable securities laws.
Investors should not place undue reliance on forward-looking
statements.
Cautionary Note Regarding 32
Concessions
Thirty-two of the one-hundred-seventy-four
concessions comprising the Falchani and Macusani Projects are
currently subject to Administrative and Judicial processes in Peru
to overturn resolutions issued by INGEMMET and the Mining Council
of MINEM in February 2019 and July 2019, respectively, which
declared title to thirty-two concessions invalid due to late
receipt of the annual validity payments. On November 2, 2021,
American Lithium was awarded a favorable ruling in regard to title
to the concessions, but on November 26, 2021, appeals of the
judicial ruling were lodged by INGEMMET and MINEM. A three-judge
tribunal of Peru’s Superior Court unanimously upheld the ruling in
a decision reported in November 2023. American Lithium was
subsequently notified that INGEMMET and MINEM have filed petitions
to the Supreme Court of Peru to assume jurisdiction in the
proceedings. Given the precedent of the original ruling it is hoped
that the Supreme Court will not assume jurisdiction; however, there
is no assurance of the outcome at this time.
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