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Lithium Ionic LTH.V has announced a 196% increase in tonnes for Bandeira’s mineral resource estimate, with 13.72Mt at 1.40% Li20 (474,892t LCE). This is a significant increase from the June 2023 MRE of 4.63Mt at 1.35% Li20 (154,198t LCE).
CEO Blake Hylands, P.Geo, commends the team for advancing the project in a short time span. The company’s focus is on becoming a significant Brazilian lithium producer. The approach includes starting with an attractive underground project, resulting in less surface disturbance. The company’s experienced team in Brazil has successfully taken numerous projects through the permitting and development process.
Hylands continues, stating the PEA results mark a major de-risking milestone. The goal is to become a near-term supplier of high-quality spodumene concentrate to the global lithium and electric vehicle supply chains. The Bandeira deposit’s technical simplicity and economic viability place it among the lowest-cost spodumene concentrate producers globally. The PEA showcases a 20-year mine life from just one deposit. The Bandeira project will serve as a foundation for further growth. The company is rapidly advancing Bandeira through the next phases of development, with a Definitive Feasibility and Environmental Impact Assessment expected by the end of 2023.
Company Website: https://lithiumionic.com
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