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Bearing’s primary asset is a 17.14% interest in the Maricunga lithium project in Chile. The Maricunga project is the most advanced, high-grade undeveloped lithium salar in the Americas. Over US$67 million has been invested in the project to date.
The Maricunga project represents the highest-grade, pre-production lithium brine project in the world and the only potential new 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 40% of lithium production globally. The Maricunga is located in Region III of Atacama in northern Chile with excellent infrastructure. It is located along International Highway 31 which connects Chile and Argentina, approximately 170 kilometers northeast of the mining town of Copiapó, and has authorization access the underutilized national power grid as well has having secured ample water rights.
The project is host to a NI 43-101 M&I resource of 2.9 million tonnes of lithium carbonate equivalent (“LCE”). Stage One Project of 15,000 mt pa 20 year life boasts a 1.9 million tonnes of LCE with a Measured Reserve of 822,000 mt at an average grade of 953 mg/L lithium (Li) and is Environmentally Approved. The Stage Two Development has 1.0 million tonnes of LCE with a high Exploration Potential of another 1.0 million tonnes.
The final approvals for construction and operation and discussions with key strategic partners for offtake and construction financing are underway. The Environmental Impact Assessment (EIA) was submitted to the Chilean Environmental Review Agency (SEA) and was approved in February 2020. A key regulatory export license from the Chilean Nuclear Commission (CCHEN) was awarded in 2018 which allows for the extraction, production and marketing of lithium products.
The information provided through this website is intended solely for the general knowledge of visitors to the website and does not constitute an offer or a solicitation of an offer for the purchase or sale of any securities of Bearing Lithium Corp. or any affiliated companies.