Advantage Lithium Corp. (the "Company" or "Advantage Lithium") (TSX V: AAL) (OTCQX: AVLIF) is pleased to announce that it will immediately undertake a Pre-Feasibility Study ("PFS") on its Cauchari JV following the doubling of its mineral resource and successful conversion to Measured and Indicated categories announced on March 7th 2019.
Given such a significant resource increase, the PFS will now examine various alternatives to unlock additional value compared to the results from the 2018 Preliminary Economic Evaluation (“PEA”). A key outcome of the PFS will be delivery of a mineral reserve backed by an economic analysis demonstrating the viability of the project.
Callum Grant, P.Eng, Interim CEO of Advantage Lithium commented: “Having achieved such a significant increase in the mineral resource and before continuing with the Feasibility Study (“FS”), we believe that the prudent next step is to consider all the positive production alternatives now open to us. The PFS will select an optimal development path to follow based on a thorough examination of all production and processing options. The PFS will provide a mineral reserve and an economic analysis within a +/-25% accuracy based on realistic and reasonable economic and engineering inputs. We are also confident that the final PFS document will provide a solid basis for on-going discussions we are having with potential strategic partners.”
The PFS will be completed to CIMM best practices and definitions as adopted in the NI43-101 Standards of Disclosure.
The Company expects to complete the PFS which is fully funded in Q3 2019. Final proposals from independent qualified consultants are currently being reviewed with kick-off study date expected shortly.
Source: Company Press Release