Resource World Magazine

D E C E M B E R / J A N U A R Y 2 0 1 9 www.resourceworld.com 29 TSXV; CYDVF-OTC] is focused on advancing its 100%-owned Clayton Valley, Nevada lithium project located adja- cent to the producing Albemarle Corp. [ALB-NYSE] Silver Peak lithium mine. In September 2018, Cypress announced positive results from a PEA. Indicated resources are 3.835 million tonnes of lith- ium carbonate equivalent (LCE) contained in 831 million tonnes averaging 867 ppm Li and an inferred resource of 5.126 million tonnes of LCE contained in 1.12 billion tonnes averaging 860 ppm Li. Cypress' lithium deposit remains open at depth, with 21 of 23 drill holes ending in lithium mineralization. Net present value is $1.45 billion at 8% discount rate and 32.7% internal rate of return on after-tax cash flow at a lithium carbonate price of $13,000/tonne; average annual production rate of 24,042 tonnes of lithium carbonate over a 40-year life. Capital cost estimate is $482 million with pre-production and operating cost esti- mate averaging $3,983/tonne of lithium carbonate. Payback period is 2.7 years. Dajin Resources Corp. [DJI-TSXV; DJIFF-OTC; C2U-FSE] holds concessions or concession applications totalling over 93,000 hectares in Jujuy Province, Argentina that were acquired in regions prospective for brines containing lithium, potassium and boron. They are primarily in the Salinas Grandes and Guayatayoc salt lake basins. Dajin is partnered with LSC Lithium Corp. [LSC-TSXV], as operator, who must spend $2,000,000 to earn a 51% interest in the properties. Exploration of the 4,400 hect- ares (10,873 acres) in San Jose/Navidad minas has commenced where 25 shallow brine samples were taken returning con- centrations ranging from 281 mg/l to 1,353 mg/l averaging 591 mg/l lithium. Dajin has a 100% interest in 403 placer claims covering 3,202 hectares in the Teels Marsh valley of Mineral County, Nevada. These claims are known to contain lithium and boron values and are adjacent to the birth place of US Borax's first borax mine. Dajin also holds a 100% interest in 145 placer claims covering 1,182 hectares in the Alkali Spring valley (also known as Alkali Lake valley), Esmeralda County, Nevada 11 km northeast of Albemarle's Silver Peak lithium mine. Lithium Americas Corp. [LAC-TSX, NYSE] has completed transactions with subsidiaries of Jiangxi Ganfeng Lithium Co. Ltd. and SQM with respect to the Cauchari-Olaroz lithium project in Jujuy, Argentina. Under the transaction, Ganfeng acquired a 37.5% interest in Minera Exar S.A., the holding company for Cauchari- Olaroz, from SQM. Lithium Americas holds the remaining 62.5% interest. Ganfeng provided Lithium Americas with a US $100 million loan to fully finance Lithium Americas' increased share of Cauchari- Olaroz's Capex. Nemaska Lithium Inc. [NMX-TSX; NMKEF-OTCQX] reports project con- struction at both sites – the Whabouchi Mine and the electrochemical plant in Shawinigan, Québec – are on track with timeline and budget. Concentrate pro- duction is expected to start in H2 2019 with lithium salts production expected in H2 2020. A total of $272.4 million or 31% of the total project budget has been committed. Neo Lithium Corp. [NLC-TSXV] has completed an independent comprehensive environmental base study and has submit- ted it to the authorities of the Catamarca province, while also making significant progress in other critical technical aspects at its Tres Quebradas lithium brine project in Catamarca province, Argentina. The pilot ponds have been operating for over 18 months and are now producing high-grade concentrated brine of approxi- mately 4% lithium to feed the pilot plant. Plateau Uranium Inc. [PLU-TSXV] is focused on lithium and uranium explora- tion and development on its properties on the Macusani Plateau, southeast Peru. The company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 93,000 hect- ares. Drilling at Falchani West returned 65 metres of 3,374 ppm Li (0.73% Li 2 O) from 9-74 metres in a Li-rich tuff unit within broader interval of 172 metres of 2,908 ppm Li (0.63% L 2 O) from 7-179 metres (end of hole). Rock Tech Lithium Inc. [RCK-TSXV; RCKTF-OTC; RJIA FSE] is trenching the McVittie area on its 100%-owned Georgia Lake lithium property in the Thunder Bay mining district of northwest Ontario. Martin Stephan, CEO, said, "We are excited to begin the trenching program following up on the positive results from our Preliminary Economic Assessment announced October 2, 2018. The program is aimed at developing drill targets for future resource definition drilling to increase our resource tonnage further and to build up the McVittie area as a second main resource zone of our property." The McVittie pegmatite, located south of the Nama Creek pegmatite, hosts the majority of the NI 43-101 resource esti- mate. Results of the PEA include a pre-tax NPV of $312 million at a discount rate of 8% and a pre-tax IRR of 62.2%. Vision Lithium Inc. [VLI-TSXV; ABEPF- OTC] has received encouraging assays from its Sirmac lithium property, acquired from the company's largest shareholder, Nemaska Lithium. The project is about 180 road-km northwest of Chibougamau, Québec. Channel sampling on the East Zone returned 13.5 metres of 1.85% Li 2 O and 11.70 metres of 1.58% Li 2 O. Drilling on the East Zone returned 5.6 metres of 1.36% Li 2 O. Drilling on the Main Dike returned 19.8 metres of 1.62% Li 2 O and 59.7 ppm Ta 2 O 5 . COBALT COMPANIES Bankers Cobalt Corp. [BANC-TSXV; BC2- FSE] has 12 concessions in the DRC. The 100%-owned Kankutu Project is com- prised of four contiguous concessions near the operating Kimpe copper-cobalt mine. Work to date includes 8 km of access roads, 1,108 soil samples, 139 pits, 11 trenches, 60 RAB holes (2,474 m) and 26 RC holes LEFT: Drilling at the Belmont Resources Kibby Basin lithium prospect located 65 km north of the Clayton Valley, western Nevada. MGX Minerals is earning a 50% interest in the project. Photo courtesy Belmont Resources Inc. BATTERY MINERALS

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