Millennial Lithium Corp. on Nov. 27 posted an initial resource estimate for its Pastos Grandes lithium brine project in northwestern Argentina's Salta province.
The project hosts measured and indicated resources containing 2.1 million tonnes of lithium carbonate equivalent at an average grade of 445 milligrams per liter of lithium and 8.1 million tonnes of potassium chloride equivalent at an average 4,747 milligrams per liter of potassium.
Inferred resources are estimated to contain 878,000 tonnes of lithium carbonate equivalent averaging 469 milligrams per liter of lithium and 3.3 million tonnes of potassium chloride equivalent averaging 4,871 milligrams per liter.
The resource is defined over a 22.1-square-kilometer footprint and was derived from seven polygons surrounding deep holes, totaling 4,010 meters of core drilling.
Millennial Lithium recently raised C$30 million to develop lithium brine projects in Argentina, after outlining plans earlier in the month to complete a preliminary economic assessment on Pastos Grandes. The study is expected to be completed in the first quarter of 2018.
