Vision Lithium Files Preliminary Economic Assessment Technical Report FOR the Sirmac Lithium Project
VISION LITHIUM FILES PRELIMINARY
ECONOMIC ASSESSMENT TECHNICAL
REPORT FOR THE SIRMAC LITHIUM
PROJECT
VAL-D'OR, QC
,
March 27, 2023
/CNW/ - Vision Lithium Inc. (TSXV: VLI) (OTCQB: ABEPF) (FSE:
1AJ2) (the "
Company
" or "
Vision Lithium
") reports that it has filed the technical report supporting
the Preliminary Economic Assessment ("
PEA
") for the Company's 100%-owned Sirmac Lithium
Project, located within the Frotet-Evans Greenstone Belt of northern
Quebec
(the "
Technical
Report
"). The Technical Report, titled "NI 43-101 Technical Report: Preliminary Economic
Assessment on Pegmatite Dike #5 Lithium-Tantalum Deposit; Sirmac Property, Québec" dated
February 15, 2023
, was prepared in accordance with National Instrument 43-101 – Standards of
Disclosure for Mineral Projects ("
NI 43-101
") by Mr.
Claude Duplessis
, P. Eng. Senior Engineer,
GoldMinds Geoservices ("
GMG
") and Mr.
Daniel Dufort
, P. Eng. Engineer, GMG.
The positive PEA, announced
February 21, 2023
, demonstrates the potential for Vision Lithium to
develop the Sirmac deposit as a Direct Shipping operation (DSO) with potential very high returns.
Preliminary Economic Assessment Highlights (all results are reported in Canadian Dollars unless
otherwise specified):
Pre-Tax net present value ("
NPV
") (discount rate 5%) of
C$183.6M
, internal rate of return
("
IRR
") of 839% and payback less than 1 year
After-Tax NPV (discount rate 5%) of
C$104.8M
, IRR of 484% and payback less than 1 year
Assumed DSO selling price of
US$591
per tonne /
C$797
per tonne based on US
$4,100
/t
concentrate pricing
4 years of mine life with 321,000 tonnes of DSO at 1.33 % Li
2
O
Revenue of
C$253.4M
Life of Mine capital of
C$3.1M
Operation cost per tonne of DSO at
C$142
The PEA is preliminary in nature. Although 85% of the resources used for the PEA are Measured &
Indicated, the report does include Inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that would enable them to be
categorized as mineral reserves. There is no certainty that the PEA in the Technical Report will be
realized. Mineral resources that are not mineral reserves have not demonstrated economic viability.
Additional work will be required to convert Inferred mineral resources to Indicated or Measured
mineral resources.
The Technical Report can be found on the Company's website at
www.visionlithium.com
and under
the Company's profile on SEDAR at
www.sedar.com
.
Qualified Person
The technical content of this news release has been reviewed and approved by
Claude Duplessis
,
P.Eng., and
Daniel Dufort
, P.Eng., both of GoldMinds Geoservices Inc. and qualified persons as
defined by NI 43-101.
About Vision Lithium Inc.
Vision Lithium Inc. is a junior exploration company focused on exploring and developing high quality
mineral assets including lithium and copper in
Canada
. The Company is led by skilled and qualified
mineral exploration experts and business professionals with a deep understanding of the battery
materials market, which is driven by lithium-ion batteries. Vision Lithium is committed to discovering
new, world-class assets and bringing these assets to production, starting with its advanced Sirmac
lithium property in
Quebec
and Godslith lithium property located in
Manitoba
; its greenfield Cadillac
lithium and Decelles lithium properties in
Quebec
, and a group of base metal rich Ni-Cu-Co and/or
Cu-Zn-Ag-Au properties in
Eastern Quebec
and
New Brunswick
.
For further information on the Company, please visit our website at
www.visionlithium.com
or contact
us at
.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies
of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: All statements,
other than statements of historical fact, contained in this press release including, but not limited to
those describing the impact of the foregoing on the Sirmac Project economics, PEA results (as such
results are set out in the various tables featured above, and are commented in the text of this press
release), including CAPEX, OPEX, NPV and IRR, the estimated value of the Sirmac Project,
operations development scenarios for the Sirmac Project, commercial and technical parameters, the
attractive economics for the Sirmac Project, life-of-mine plans, market trends, future lithium prices,
the impact of the Sirmac Project on the local communities, including job creation, the timelines and
costs related to the various initiatives, deliverables and milestones described in this news release
and their expected results, the Company's expected financial and operational performance, the
nature of relationships with stakeholders such as the local community including the Mistissini Cree
First Nation, mineral resource estimates (including assumptions and estimates used in preparing the
mineral resource estimates), the general business and operational outlook of the Company, the
Company's future growth and business prospects, the Company's initiatives and goals, and those
statements which are discussed under the "About Vision Lithium Inc." paragraph and elsewhere in
the news release which essentially describe the Company's outlook and objectives, constitute
"forward-looking information" or "forward-looking statements" (collectively, "
forward-looking
statements
") within the meaning of applicable Canadian securities laws, and are based on
expectations, estimates and projections as of the time of this news release. Forward-looking
statements are necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Company as of the time of such statements, are inherently subject to
significant business, economic and competitive uncertainties and contingencies. These estimates and
assumptions may prove to be incorrect. Moreover, these forward-looking statements were based
upon various underlying factors and assumptions, including the current technological trends, the
business relationship between the Company and its stakeholders, the ability to operate in a safe and
effective manner, the timely delivery and installation at estimated prices of the equipment supporting
the production, assumed sale prices for DSO, the accuracy of any mineral resource estimates,
future currency exchange rates and interest rates, political and regulatory stability, prices of
commodity and production costs, the receipt of governmental, regulatory and third party approvals,
licenses and permits on favorable terms, sustained labor stability, stability in financial and capital
markets, availability of equipment and critical supplies, spare parts and consumables, the various tax
assumptions, CAPEX and OPEX estimates, the Sirmac Project permits' status, all economic and
operational projections relating to the project, local infrastructures, the Company's business
prospects and opportunities and estimates of the operational performance of the equipment, and are
not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause
actual results to differ materially from those anticipated or implied in the forward-looking statements.
Risk factors that could cause actual results or events to differ materially from current expectations
include, among others, delays in the scheduled delivery times of equipment, the ability of the
Company to successfully implement its strategic initiatives and whether such strategic initiatives will
yield the expected benefits, the availability of financing or financing on favorable terms for the
Company, the dependence on commodity prices, the impact of inflation on costs, the risks of
obtaining the necessary permits, the operating performance of the Company's assets and
businesses, competitive factors in the lithium mining and production industry, changes in laws and
regulations affecting the Company's businesses, political and social acceptability risk, environmental
regulation risk, currency and exchange rate risk, technological developments, the impacts of the
global COVID-19 pandemic and the governments' responses thereto, and general economic
conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general
business risks. Unpredictable or unknown factors not discussed in this cautionary statement could
also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause,
actual results to differ materially from those expressed or implied in any forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Forward-
looking statements are provided for the purpose of providing information about management's
expectations and plans relating to the future. The Company disclaims any intention or obligation to
update or revise any forward-looking statements or to explain any material difference between
subsequent actual events and such forward-looking statements, except to the extent required by
applicable law.
SOURCE
Vision Lithium Inc.
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%SEDAR: 00003760E
For further information:
Please contact: Victor Cantore, Executive Chairman, Tel: 514-831-3809,
Email: [email protected]; Yves Rougerie, President and Chief Executive Officer, Tel: 819-
316-0474, Email: [email protected]
CO: Vision Lithium Inc.
CNW 07:30e 27-MAR-23