International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) has announced the filing of a technical report for its Preliminary Economic Assessment (PEA) on the Raleigh Lake Lithium Project. The report outlines a favorable after-tax net present value (NPV) of CAD$342.9 million and an internal rate of return (IRR) of 44.3% p.a.

The lithium project, situated 25 kilometers west of Ignace, Ontario, has demonstrated economic potential based on spodumene concentrate production. Recent metallurgical testing indicates over 81% lithium recovery using straightforward separation techniques. The project benefits significantly from its proximity to existing infrastructure, including the Trans-Canada Highway.

The Raleigh Lake Project exclusively considers revenue from spodumene concentrate. The company is also exploring the potential value of extracting rubidium from the deposit.

Highlights include a pre-tax cash flow of CAD$709.4 million and an after-tax cash flow of CAD$634.0 million. The project’s mining method involves conventional open-pit drilling and blasting with a proposed annual production rate of 540,000 tonnes. The planned open-pit life spans nine years, forecasting a total of 414,904 tonnes of 6% Li2O spodumene concentrate.

The process plant aims for a crushing capacity of 1,500 tonnes per day, and the PEA has been filed on SEDAR as of January 18, 2024.

John Wisbey, Chairman and CEO of ILC, expressed confidence in the project’s potential, highlighting the strategic relevance of critical minerals like lithium and rubidium for North America. The company’s mission aligns with the global transition to sustainable energy sources.

ILC envisions the Raleigh Lake Project to be a low-impact, small-scale operation capable of quickly supplying critical minerals. As the demand for green technologies and electric vehicles continues to rise, ILC’s focus on developing its lithium and rare metals resource portfolio remains a top priority.

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