-- Recent drill results drive decision to increase
proposed plant capacity by 25% to 50,000 tpa
As a result of the Company’s recent drilling program that included record drilling results (see
Alpha has prepared an internal financial model that will form the basis of the PEA, with all inputs, processes and results being confirmed by Ausenco as part of its engagement.
The Company continues to drill in Tolillar salar and expects to complete an updated 43-101 Resource Report in the coming weeks.
Ausenco is based across 26 offices in 14 countries, with projects in over 80 locations worldwide. The firm encompasses deep technical expertise with a 30-year track record, to deliver innovative, value-add consulting studies, project delivery, asset operations and maintenance solutions to the mining & metals, oil & gas and industrial sectors. Ausenco has successfully completed studies for clients all around the world, including initial concept studies, pre-feasibility studies, and definitive studies used for assisting in the procurement of project financing. From hot, wet, tropical locations to dry, cold, high-altitude sites, Ausenco has designed efficient plants around the world and in the most challenging climates, including in the renowned Lithium Triangle.
The plant is being designed in two 25,000 tonne/year modules, the second module to be constructed after the plant has reached reliable, steady-state production, presumably several months after the initial module is operational. Ausenco will require approximately six months to complete the PEA, with final results of the study expected to be published in Q3 2023.
All operations and assets of the Company are in
ON BEHALF OF THE BOARD OF ALPHA LITHIUM CORPORATION
“Brad Nichol”
President, CEO and Director
For more information:
Alpha Lithium Investor Relations
Tel: +1 844 592 6337
relations@alphalithium.com
www.alphalithium.com
About
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the results of further brine process testing and exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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