Century Lithium Corp. (TSXV: LCE | OTCQX: CYDVF | Frankfurt: C1Z) has announced the results of its feasibility study (NI 43-101) completed on its 100% owned Clayton Valley Lithium Project in Nevada, USA. The feasibility study was prepared by Wood Group USA, Inc. and Global Resource Engineering, Ltd. (GRE).
“Century Lithium is proud to present our feasibility study. The study indicates our project has robust economics, made possible with our unique chlor-alkali and DLE processes” commented Bill Willoughby, president, and CEO. “Completion of the study marks a major milestone for the company and is the result of the dedicated work and efforts of our team of employees and consultants.”
Highlights of the feasibility study include:
- Large-scale Nevada-based lithium project: three-phase production plan will generate a life-of-mine average of 34,000tpa of battery-quality lithium carbonate
- Innovative approach in processing: patent-pending chloride leaching process combined with Direct lithium extraction (DLE), the feasibility study is supported by over two years of testing at the company’s pilot plant
- Measured and indicated resources totaling 1,207.33Mt at an average grade of 957ppm lithium (Li) containing 1.155Mt of Li or 6.148Mt of lithium carbonate equivalent (LCE)
- Proven and probable mineral reserve estimate totaling 287.65Mt at an average grade of 1,149ppm Li containing 0.330Mt of lithium or 1.759Mt of LCE
- Phase 1 capital cost US$1.537B for production capacity of 13,000tpa LCE
- Average operating cost US$8,223/t of Li2CO3 produced, or US$2,766/t after sales of surplus sodium hydroxide (NaOH)
- After-tax IRR of 17.1% at US$24,000/t Li2CO3: US$3.01B after-tax net present value (NPV) at 8% discount rate and a 17.1% after-tax internal rate of return (IRR), using price assumptions of US$24,000/t for Li2CO3 and US$600/dry metric tonne (dmt) for NaOH
“Our process technology was developed by way of many trials and successes at our pilot plant in Amargosa Valley. As one of the few lithium-focused pilot plants in North America, we continue to operate safely and recently passed two years of testing. The data generated to date supports the feasibility study, and we continue to test various conditions and ideas to improve our process flow sheet,” added Mr. Willoughby.
Further, the company will now focus on engineering and permitting. The company is concurrently advancing discussions with government agencies, strategic partners, and other interested parties to provide funding to advance the project and maximize the value to the company’s shareholders that is reflected in the feasibility study.
To find out more, please visit www.centurylithium.com
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