Millennial Expands Lithium Brine Horizon at Pastos Grandes
Suite 2000 – 1177 West Hastings Street
Vancouver, BC Canada V6E 2K3
Tel: 604-662-8184 Fax: 604-602-1606
www.millenniallithium.com
October 15, 2018
Millennial Expands Lithium Brine Horizon
at Pastos Grandes
Millennial Lithium Corp. (ML: TSX.V) (A3N2:GR: Frankfurt) (MLNLF: OTCQB)
(“Millennial” or the “Company”) is pleased to report positive drilling and analytical results
from the latest exploration wells at its Pastos Grandes Project in Salta, Argentina. Two new
exploration holes (PGMW18-16 and 17) have intersected, and bottomed in, lithium-bearing
brine zones, with PGMW18-17 intersecting po sitive lithium grades in a 545 meter thick
lithium-bearing horizon, including a high grade of 701 mg/L Li . A 40 person camp is being
installed at the site, including a state of the art solar-hybrid power system as work advances
at the site on a pilot plant to produce battery grade lithium carbonate.
Millennial is also pleased to announce that it has engaged Credit Suisse to act as a lead
financial advisor to assist th e Company with respect to potential future project financing
alternatives and ongoing strategic discussions.
Millennial CEO, Farhad Abasov, commented: "We are very encouraged to see that drilling on
the REMSA license at Pastos Grandes salar co ntinues to encounter lithium-rich brine,
significantly extending the area of known lithium-rich brine further west toward the edge of
the salar. Millennial has already started a full feasibility study on its lithium brine project in
Pastos Grandes, Salta, which is scheduled to be completed in Q2 2019. Millennial is fully
funded to complete the feasibility study as well as all other programs with a very strong cash
balance of C$56 million. The Co mpany is embarking on a proce ss of securing construction
financing which is planned to be concluded in 2019.”
Exploration holes PGMW18-16 and PGMW18-17 were drilled to depths of 641 metres (m), and
605m respectively and both wells terminated in brine-bearing sand. These holes confirm the
extension of the brine on to the contiguous REMSA license southeast and southwest of the
original core Pastos Grandes licenses suggesting additional potential to expand the currently
calculated resource beyond the initial Pastos Grandes licenses.
Exploration well PGMW18-16, drilled to a final depth of 641m close to the southern margin of
the basin, was sampled using a double packer system which is designed to isolate sample
intervals. Thirteen brine samples were collected from between depths of 75m to 641m (566m
interval). This area was found to be dominated by halite with minor sand and clay seams. A
zone of halite with sand and minor clay fr om 306m to 374m (68 m thickness) yielded an
average of 499 mg/L Li with an Mg:Li of 7.1 and an SO 4:Li of 21.2. The well bottomed in a
halite-sand unit which yielded 495 mg/L Li, an Mg/Li of 6.5 and an SO4/Li of 22.9 from 624m
to 641m (see Table 1) indicating the lithium zone remains open at depth. Exploration well
PGMW18-16 is located approximately 2 km southeast of well PGMW18-12 and the significant
halite section in this well suggests it may occupy the depocenter of the basin.
Table 1 Summary of Current drill results.
HOLE ID FROM (m) TO (m) THICKNESS (m) Li (mg/l) Mg/Li SO4/Li
PGMW18-16 306 374 68 499 7.1 21.2
PGMW18-16 624 641 17 495 6.5 22.9
PGMW18-17 60 605 545 444 6.0 pending
Well PGMW18-17 is located approximately 1500m southwest of PGMW18-12 and was drilled
to a depth of 605m. Twenty-nine brine samples were taken by packer sampling with the well
dominated by halite from surface to 194m and then by fine- to medium-grained sand to the
bottom of the well. The entire section in well PGMW18-17 is enriched in lithium returning 444
mg/L Li from 60m to 605m (545m thickness) and an Mg/Li of 6.0. The maximum Li value
obtained was 701 mg/L Li at a depth of 135 m. Well PGMW18-17 bottomed in lithium brine
rich sands (last sample returned 519 mg/L Li) as the hole was terminated at 605m due to
limitations of the drilling machine.
Exploration drilling is ongoin g with a rig currently at PG MW18-18, located approximately
2000m south of PGMW18-15 in the southwest co rner of the REMSA lic ense. Drilling is
currently at a depth of 389m; the second drilling machine is mobilizing to PGMW18-19 located
about 1,000m northeast of PGMW18-12. In addition, the 21 day pumping test at PGPW17-
04 has been completed and data compilation is underway. Two pumping well drill machines
have been mobilized to site to expedite addi tional pumping tests. Pi lot evaporation ponds,
approximately 3.25 ha in size, have now been f illed with brine to provide concentrated Li
plant-grade feed for the Company’s pilot plant. The Company has posted a recent time-lapse
video of the construction of the pilot ponds and the reader is encouraged to visit the
Company’s website, www.millenniallithium.com, and view the ongoing progress at its Pastos
Grandes Project.
Sampling was conducted in accordance with CIM guidelines for brine resource evaluation, with
an appropriate QA/QC program in place for ensuring accuracy and precision of the analytical
results.
The primary analytical laboratory for the data used in this program is the SGS Laboratory in
Buenos Aires, Argentina. SGS is accredited to ISO 9001:2008 and ISO14001:2004 for their
geochemical and environmental labs for the pr eparation and analysis of numerous sample
types, including brines.
This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the
Company and a Qualified Person as that term is defined in National Instrument 43-101.
To find out more about Millenni al Lithium Corp. please contac t Investor Relations at (604)
662-8184 or email [email protected].
MILLENNIAL LITHIUM CORP.
“Farhad Abasov”
President and CEO, Director
Suite 2000 – 1177 West Hastings Street
Vancouver, BC Canada V6E 2K3
Tel: 604-662-8184 Fax: 604-602-1606
www.millenniallithium.com
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