Falchani Lithium Project - Advanced Exploration Stage

Discovery → Maiden Resource in 9 Months → 2X Resource in another 6 Months
High-grade Volcanic-hosted Lithium Deposit
Unique ‘Hard Rock’ Deposit
Large Mineralized Footprint ~30% drilled to date
Broader Target Area 6km x 5km

Starter Resource

High Grade
Lithium-rich Tuff

0
Mt
Indicated*: ~42.5 Mt at 3,500 ppm Li (0.79Mt Li₂CO₃) (equiv.)
0
Mt
Inferred*: ~123.6 Mt at 3243 ppm Li (2.13Mt Li₂CO₃) (equiv.)

Lithium-rich Tuff
+ Upper & Lower Breccia

50
Mt
Indicated*: ~60.9Mt at 2,954 ppm Li (0.96Mt Li₂CO₃) (equiv.)
200
Mt
Inferred*: ~260.1Mt at 2,706 ppm Li (3.75Mt Li₂CO₃) (equiv.)

* Refer to NI 43-101 technical report filed on SEDAR on April 18, 2019.

Growth
  • Mapped and surface sampled Lithium target area extends up to 1.7 km (N-S) and 2.2 km (E-W)
  • The maiden resource estimate is based on drilling that covers ~30% of the target area
Metallurgy
  • Early metallurgical test work on sulphuric acid leach identifies potential for battery grade Lithium Carbonate 99.74%
  • Ongoing metallurgical test work to evaluate multiple processing flow sheet options and advance work to determine ideal route(s)
Potential for Development
  • Scalable | Bulk Tonnage | Near Surface
  • Lithium zones located from surface to ~200 m
  • Lithium zone average ~75 m (up to ~150 m)
  • Advancing to PEA, expected late Q2 2019
Falchani "East" Expansion
Drilling extensions to deposit to East, North and South.
Falchani "West" Expansion
Outcrop mapping and sampling extends target ~1km West. Lithium units at surface targeted for drilling.
Regional Targeting
6 km by 5 km interpreted collapsed caldera setting as target for future exploration.