International Lithium Announces Raleigh Lake PEA Report Results
International Lithium Corp. (TSXV: ILC) (OTCQB: ILHMF) (FSE: IAH) has announced the findings from the Preliminary Economic Assessment (PEA) for the Raleigh Lake Lithium Project. According to the report, the project boasts a highly favorable after-tax net present value (NPV) of CAD$342.9 million and an internal rate of return (IRR) of 44.3% per annum when discounted at 8%. The project, situated 25 kilometers west of Ignace, Ontario, is in a convenient location near existing service infrastructure, further enhancing its economic and logistical prospects.
PEA Methodology and Results
The technical report, adherent to the National Instrument 43-101 standards, outlines the PEA’s Basis. Using recent metallurgical test work, the report confirms the viability of producing spodumene concentrate with a 6% Li2O content. The proposed traditional open pit mining method, followed by drilling, blasting, and load and haul strategies, is expected to process 540,000 tonnes per year. Over the anticipated nine-year mine life, the project aims to deliver a total of 414,904 tonnes of spodumene concentrate.
Economic Advantage and Infrastructure Proximity
The Raleigh Lake project benefits from its nearness to major infrastructure such as the Trans-Canada Highway, offering significant logistical and economic advantages. Considering only lithium revenue initially, the company continues to assess the potential value of rubidium extraction. This multifaceted approach underscores the project’s ability to support Canada’s Critical Mineral Strategy.
Environmental Impact and Community Engagement
The company is committed to establishing a low-impact, small-scale mining operation that aligns with sustainability goals and benefits local communities. Forward planning includes environmental assessments and continuous engagement with First Nations and Metis communities.
Company Strategy and Mission
International Lithium Corp.’s mission focuses on shareholder value through responsible lithium and rare metals resource development. Their vision includes optimizing existing projects and exploring new opportunities, particularly in North America and Zimbabwe.
Qualified Persons Statement
Patrick McLaughlin, P. Geo., and Garth Liukko P.Eng., have both reviewed and approved the contents of this news release as Qualified Persons.
The company’s shares trade under the ticker symbols TSXV: ILC, OTCQB: ILHMF, and FSE: IAH.
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