This image is randomly selected and doesn’t necessarily represent the company or the news below.


American Lithium (AMLI) has announced a near six-fold (476%) increase in its Falchani M+I resource. The new MRE contains 5.53 million tonnes of lithium carbonate equivalent (LCE) in the measured and indicated category. It also includes 3.99 million tonnes LCE of inferred resources.

The base case cut-off grade has been lowered to 600 ppm Li from 1,000 ppm. This change is based on updated operating costs and a $20,000/tonne lithium carbonate selling price. Even with the old cut-off, the updated resource totals 5.32 million tonnes LCE, a 455% increase from the previous MRE.

The new MRE for Falchani incorporates 3,075 metres of additional drilling from 15 drill holes from 2022 to 2023. The resource now includes data for 12,317 metres of drilling in 67 drill holes since 2017.

Simon Clarke, CEO of American Lithium, expressed satisfaction with the EIA drill program results and the significant increase in resources at Falchani. Falchani is now one of the largest hard rock lithium projects globally, capable of producing high-purity battery-grade lithium carbonate.

Falchani, located in Puno, southwestern Peru, is the sixth-largest hard-rock lithium deposit globally. A preliminary economic assessment based on the 2019 resource outlined a potential 33-year operation producing 23,000 tonnes of battery-grade lithium carbonate annually for the first seven years, then increasing to 44,000 tonnes a year.

The project has an after-tax net present value of $1.55 billion (at an 8% discount) with a 19.7% internal rate of return. Its initial capital expenditure is estimated at $587 million.

With the updated resource and the inclusion of potassium, cesium and rubidium in the new resource block model, American Lithium has started mine plan modelling and updating capital and operating costs for the PEA, expected in the coming weeks.

Shares of American Lithium rose 9.6% by 12:25 p.m. EDT on the updated Falchani MRE. The company’s market capitalization is approximately C$340.2 million ($245m).

Company Website: https://www.americanlithiumcorp.com

Source

Disclaimer:
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

Click here for more Company News