Research Reports

NI 43-101: TECHNICAL REPORT (SEPTEMBER 2021)

Prepared by: Atacama Water
September 20, 2021

Highlights:

The Blanco Project (herein the “Project”) (previously known as the Maricunga Lithium Project) is owned and operated by Minera Salar Blanco S.A. (MSB). MSB is in turn owned by Lithium Power International (ASX:LPI) 51.55%; Minera Salar Blanco SpA (previously BBL) 31.31%; and Bearing Lithium Corp.(TSXV: BRZ) 17.14%. MSB retained Atacama Water to prepare this Technical Report for the Blanco Project in the III Region of Chile. The objective of this report is to prepare an updated estimate of lithium resources for the Project’s Stage One on the ‘Old Code’ mining concessions (OCC) based on exploration work carried out to 400 m depth during 2021. The OCC are constituted under the 1932 Chilean Mining Code and do not require a special license (Contrato Especial de Operacion del Litio – CEOL) for the production and sale of lithium products. Resource estimates are for lithium and potassium contained in brine.
The Blanco Project is located 170 km northeast of Copiapo in the III Region of northern Chile at an elevation of 3,750 masl. The property is more particularly described as being centered at approximately 492,000 mE, 7,025,000 mN (WGS 84 datum UTM Zone 19). The Project covers some 2,563 ha of mineralized ground in Salar de Maricunga; 100 ha just to the northeast of the Salar for camp and evaporation test facilities, and an additional 1,800 ha some eight km north of the Salar for the future construction of evaporation ponds, process and plant facilities.