Court grants Millennial Lithium mining licenses in Argentina

Pastos Grandes project. (Image courtesy of Millennial Lithium).

The Mining Court of Salta, Argentina, granted Millennial Lithium’s (TSXV: ML) subsidiary, Proyecto Pastos Grandes, four of the five mining licenses that comprised the properties owned by state company Remsa. The land tenements are located within the Pastos Grandes project.

In a media statement, Farhad Abasov, Millenial’s president and CEO, said the licenses granted total approximately 6,447 hectares and that his company expects the fifth license to be granted in the near future.

Pastos Grandes has measured and indicated resources estimated at 774,000 tonnes of in situ Li; 4,120,000 equivalent tonnes of Li2CO3; 8,045,000 tonnes of in situ K; and 15,342,000 KCI equivalent tonnes

In terms of the development of the project, Abasov said Millennial continues to advance its 3 tonne-per-month lithium carbonate plant and pilot evaporation ponds in addition to completion of the community water well construction and sustainable business development and indoor recreation centre at Pastos Grandes.

“On corporate matters, Millennial continues to advance financing, offtake and other strategic talks with large industry players,” Abasov said.

To date, the Canadian miner has invested over C$40 million in exploration and development work, which includes 22 completed exploration/monitoring wells, four pumping test production wells, pilot ponds, the pilot plant as well as a year-round camp supported by a hybrid solar power system.

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