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A Clean Tech Strategic Asset

Through our Falchani lithium project, our goal is to develop a large, long life project capable of producing a low impurity battery grade lithium chemical, that we believe will be well positioned to help meet the world’s shift to sustainability through electric mobility and battery storage.
Falchani has been scoped to incorporate many environmentally responsible initiatives, including the use of filtered tailings ,enabling the recycling of up to 90% of process water, and a self-sufficient, high efficiency green energy on-site acid plant with additional areas identified for future "green" improvements.

Project Highlights

Robust PEA* Base Case Economics

  • NPV(8%) = US$1.55 billion; IRR = 19.7% (after-tax using US$12,000/t Li2CO3 selling price)
  • Low second quartile operating costs(per Benchmark Mineral Intelligence)
  • Scalable, 33-year mine life producing battery-grade lithium carbonate (“Li2CO3”)

Growth Potential

  • Estimated to be 6th largest hard rock lithium deposit globally1
  • Resource estimate** based on only ~30% of target area


  • Robust metallurgical testing indicates conventional processing will produce a high purity battery grade (>99.5%) lithium carbonate

Excellent Infrastructure

  • Easy transport
  • Low cost power
  • Labour
  • Water

Supply Security (Peru)

  • Mining supportive jurisdiction
  • Responsible mining practices

1 Based on the Company's review of publicly available information as at March 2019

Falchani PEA*


PEA Summary


PEA Summary

Alternative Case scenario presented represents only the Falchani concession to demonstrate the economic value as if the Falchani concession were a standalone or phase 1 project in light of the current dispute with regards to the ownership of the Ocacasa 4 concession. See Footnote at the bottom of this page.

  • 1. After tax, average annual at steady state throughput of 6mtpa, based on a selling price of $12,000/t Li2CO3.
  • 2. See news release for OPEX breakdown
  • 3. See news release for CAPEX breakdown.
  • 4. Steady State – battery grade Li2CO3.

The PEA* is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty the results of the PEA* will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Additional work is required to upgrade the mineral resources to mineral reserves. In addition, the mineral resource estimates could be materially affected by environmental, geotechnical, permitting, legal, title, taxation, socio-political, marketing or other relevant factors.

Falchani NI 43-101 PEA Technical Report effective February 4, 2020

Large, High Grade Resource*

High Grade Lithium-Rich Tuff

Indicated*: ~42.5 Mt at 3,500 ppm Li (0.79Mt Li₂CO₃) (equiv.)


Inferred*: ~123.6 Mt at 3243 ppm Li (2.13Mt Li₂CO₃) (equiv.)

Lithium-rich Tuff + Upper & Lower Breccia

Indicated*: ~60.9Mt at 2,954 ppm Li (0.96Mt Li₂CO₃) (equiv.)


Inferred*: ~260.1Mt at 2,706 ppm Li (3.75Mt Li₂CO₃) (equiv.)

Resource estimate for Falchani

In March 2019, Plateau released an updated resource estimate ** (refer to March 4, 2019 news release and listen to Alex Holmes, CEO, discuss the news) that increased the resource by more than 90 percent.

Minor discrepancies due to rounding may occur. Cut-off 1,000 ppm Li Tonnes are Metric Li Conversion Factors as follows: Li:Li2O=2.153; Li:Li2CO3=5.323; Li2O:Li2CO3=2.473 Geological losses of 5% or 10% have been applied, based on geological structure and data density. The average geological loss is 6%.

Exploration Upside***

Quelcaya Target

  • Outcrop mapping and sampling ~6 km west of Falchani deposit
  • 1.5 km mapped extent; sampling average grade of 2,986 ppm Li

Tres Hermanas

  • Three ridges of outcropping Li-rich tuff, interpreted as tilted upright compared to relatively horizontal at Falchani East and West
  • Each ridge estimated at ~80m high x ~750m long east-west
  • Surface samples up to 4,452 ppm Li, trenching in progress

Regional Targeting

  • 6 km by 5 km interpreted collapsed caldera setting as target for future exploration
  • ~ 20 km West, multiple surface samples up to 5,100 ppm Li from large Li-rich tuff outcrop

Our Advisors

Plateau Energy Metals' experienced management team will also be guided on the Falchani Lithium project by our advisors who have a deep project, lithium and country knowledge

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M.Plan International

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David Laing


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* John Joseph Riordan, BSc, CEng, FAuslMM, MIChemE, RPEQ, of DRA Global, is the Falchani PEA Independent Qualified Person as defined by NI 43-101 Standards of Disclosure for Mineral Projects. In accordance with NI 43-101, the Falchani Lithium Project Preliminary Economic Assessment will be filed on SEDAR on or before March 19, 2020. The Alternative Case presented represents only the Falchani concession to demonstrate the economic value as if the Falchani concession were a standalone or phase 1 project.

** For further details on the Falchani resource estimates please review the technical report entitled “Mineral Resource Estimates for the Falchani Lithium Project in the Puno District of Peru", with an effective date of March 1, 2019, prepared by Mr. Stewart Nupen, of The Mineral Corporation, an Independent Qualified Person as defined by NI 43-101. Mineral resources that are not mineral reserves do not have demonstrated economic viability.See note below regarding "Title to Concession".

*** The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource for the targets disclosed. It is uncertain if further exploration will result in these targets being defined as a mineral resource. Refer to Refer to Plateau news release from June 3, 2019 for Quelcaya results and the 2019 NI 43-101 Technical Report for Tres Hermanas including QA/QC and Data Verification information.

Title to Concession: The Ocacasa 4 concession, which forms part of the mineral resources considered in the Base Case of the Falchani Project PEA, is currently subject to Administrative and Judicial processes (together, the “Processes”) in Peru to overturn resolutions issued by INGEMMET and the Mining Council of MINEM in February 2019 and July 2019, respectively, which declared Macusani’s title to the Ocacasa 4 concession invalid. As announced by the Company on February 3, 2020, Macusani is awaiting a decision for its application for injunctive relief (a Precautionary Measure) which will restore the rights, validity and ownership of Ocacasa 4 to Macusani for the duration of the Processes. If the Company does not obtain a successful resolution of Processes, Macusani’s title to the Ocacasa 4 concession could be revoked and the Falchani Project would proceed as presented in the Alternative Case.