Vancouver, British Columbia – Bearing Lithium Corp. (“Bearing” or the “Company“) (TSX Venture: BRZ) (OTCQB:BLILF) (FRANKFURT: B6K2) is pleased to announce that the Definitive Feasibility Study (“DFS”) for the Maricunga Lithium Project (the “Maricunga Project”) is in the final stages of completion awaiting the final independent written report from WorleyParsons. The Maricunga Project is wholly owned and operated by the joint-venture company, Minera Salar Blanco (“MSB”) and Bearing holds an 18% interest in MSB.
It is anticipated that WorleyParsons will have the final documentation completed for a detailed release of the DFS outcomes in January 2019. This report will meet AACE 18R-97, Class 2 estimation standards with a +/-15% accuracy.
WorleyParsons is a global engineering company with headquarters in Australia and is listed on the ASX. The company has extensive expertise in engineering, procurement and construction and working across the infrastructure, mining, chemicals and hydrocarbon sectors. WorleyParsons undertook engineering design for the definitive feasibility study on the Cauchari lithium brine project in Argentina. The company has also undertaken extensive engineering and feasibility works at the largest producing lithium brine project at the Salar de Atacama in Chile. The company brings a wealth of infrastructure design, geotechnical, chemical, mechanical and electrical skills to the project.
Minera Salar Blanco’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:
“We look forward to providing the results to shareholders early in the New Year. We wish all our shareholders well for the festive season and thank them for their support during 2018. For the Company, 2019 promises to be an exciting year, with completion of the feasibility study and the project advancing to approval of the project Environmental Impact Assessment (“EIA”). The lithium market continues to have a very positive outlook and we look forward to moving the project towards development.”