(15-12-2023) American Lithium Corp. (TSX-V: LI; Nasdaq: AMLI; Frankfurt: 5LA1), Vancouver, an exploration company focused on lithium in Peru and Nevada (USA), announced the submission of an updated NI 43-101 technical report on the Mineral Resource Estimate (MRE) for the Falchani lithium project located in Puno, showing a significantly larger lithium resource base.
Measured and indicated resources increased by 476% compared to the previous 2019 estimate. The increased size and quality of the resource support long-term production potential at Falchani.
The MRE will serve as the foundation for an updated preliminary economic assessment (PEA) on Falchani and has been incorporated into the Mine Plan within the PEA, which is currently being finalized and will be announced shortly.
Key highlights of the technical report:
Measured Resource: 1.01 Mt of lithium carbonate equivalent (LCE) (69 Mt @ 2792 ppm Li);
Indicated Resource: 4.52 Mt LCE (378 Mt @ 2251 ppm Li);
Measured + Indicated (M&I) Resource increases by 476% compared to the previous 2019 MRE; M&I Resources: 5.53 Mt LCE (447 Mt @ 2327 ppm Li).
Inferred Resource: 3.99 Mt LCE (506 Mt @ 1481 ppm Li).
The base cut-off case has been reduced to 600 ppm Li from the previous 1000 ppm based on the robust project economics, specifically updated operating costs, and the lithium carbonate selling price of $20,000 per ton.