NI 43-101 report
- AGM 2018
Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is an 18% interest in the Maricunga lithium brine project in Chile. The Maricunga project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over US$30 million has been invested in the project to date and all expenditures through 2018, including the delivery of a Definitive Feasibility Study in Q4/2018, have been fully-funded by the earn-in joint-venture partner.
The Maricunga project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Chile is host to some of the most prolific lithium brine deposits in the world, namely the Salar de Atacama which is the highest grade and lowest cost operation, and accounts for over 40% of lithium production globally. The Maricunga is located in Region III of Atacama in northern Chile with good access to infrastructure. It is located along International Highway 31 which connects Chile and Argentina, approximately 170 kilometres northeast of the mining town of Copiapó, and has multiple avenues to access power from an underutilized grid. The project is host to a NI 43-101 M&I resource of 1.7million tonnes of lithium carbonate equivalent (“LCE”) at a grade of 1,143 mg/L lithium (Li) plus an Inferred resource of 0.4 million tonnes of LCE at a grade of 1,289 mg/L Li. The project is comprised of a number of tenements totaling 4,463 hectares, of which some are grandfathered under a previous mining code which may allow for the exploitation of lithium.
Under the terms of the joint-venture agreement, Bearing Lithium has a free-carry on project expenditures through 2018 which includes
the delivery of a Definitive Feasibility Study (DFS) in Q4/2018. The Maricunga JV is an agreement between Bearing Lithium Corp.
(TSX:BRZ), Minera Salar Blanco (private company) and Lithium Power International (ASX:LPI), whereby Lithium Power International
is earning into the project by funding all expenditures.
Vancouver, British Columbia - Bearing Lithium Corp. ("Bearing" or the "Company") (TSX Venture: BRZ)(FRANKFURT: B6K2) is pleased to announce the closing of the first tranche (the "First Tranche") of the non-brokered p..Read more
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