TORONTO, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Plateau Energy Metals Inc. (“Plateau” or the “Company”) (TSX VENTURE: PLU | OTCQB: PLUUF | FRANKFURT: QG1A) is pleased to announce the advancement of the Company’s Falchani lithium project (“Falchani”) with the appointment of lead engineer and consultants for the Falchani Preliminary Economic Assessment (the “PEA”).
- DRA Global, appointed lead consultant for the PEA, is actively developing and constructing lithium projects globally and, as the lead Engineering, Procurement and Construction Management (EPCM) firm, brings significant depth in lithium process engineering to the project.
- Wardell Armstrong, appointed as lead for mine planning, scheduling and optimization for the PEA.
- The Mineral Corporation, appointed as independent mineral resource estimator, having completed the maiden Falchani mineral resource estimate and leading the updated mineral resource estimate planned for later in Q1 2019.
“DRA Global, Wardell Armstrong and The Mineral Corporation, working alongside our internal team, bring some very current lithium project experience and processing depth,” Alex Holmes, CEO of Plateau, commented. “We have discovered, delineated and metallurgically advanced a significant new lithium project in a short period of time, and it is now critical to support our project advancement with a project team that has lithium processing bench strength and the know-how to scope out a robust project that can meet the stringent battery grade lithium product specifications of end-users.”
The PEA is estimated to take approximately six months from initiation. DRA Global, as part of the PEA process, will work with ANSTO Minerals, Plateau’s metallurgical consultant, in completing a techno-economic concept level trade-off study of alternative processing routes prior to determining the most viable route(s) to be utilized in the PEA. It is anticipated preliminary results from ANSTO’s work will be completed in February 2019, followed by a series of optimization programs working in collaboration with Plateau and its project team.
Falchani PEA Project Team
Plateau is pleased to announce the following appointments to the PEA project team:
DRA Global (“DRA”), as the lead consultant, is a diversified global engineering, project delivery and operations management group, with an impressive track record spanning more than three decades. The organisation is known for its collaborative approach and extensive experience in project origination and delivery, as well as turnkey operations and maintenance services. DRA, through its wholly owned subsidiary DRA Met-Chem, based in Montreal, as well as their regional offices in Perth and Cape Town, possess significant lithium process and metallurgical experts who are able to identify and develop the process requirements, through flowsheet development to the selection of process equipment, in order to minimize costs and ensure overall plant efficiency.
DRA has recently been involved in a number of lithium projects from Preliminary Economic Assessment to Feasibility Study and EPCM for in-construction/expansion projects, including the recent Feasibility Study for Nemaska Lithium’s Whabouchi Mine and Hydromet plant in Shawinigan and is currently EPCM for the concentrator at Whabouchi.
Wardell Armstrong, as lead on mine planning, scheduling and optimization, is a full-service technical mining consultancy with global expertise in the whole mine life cycle. Wardell Armstrong has been at the forefront of several strategic metals mining projects that are part of the electric vehicle revolution. Wardell Armstrong has professionally qualified and experienced industry specialists including mining engineering, rock mechanics, and financial evaluation with a proven record of delivering scoping, Preliminary Economic Assessments and feasibility level studies.
Wardell Armstrong has been involved in multiple LSE main board and AIM listings as well as NI 43-101 Technical Reports in line with the TSX and Competent Person’s Reports in line with the ASX. Wardell Armstrong has acted on behalf of numerous lithium exploration and producing companies in geological, mining, and mineral processing activities.
The Mineral Corporation, as lead independent mineral resource estimator, was established in Johannesburg, South Africa in 1997 and is home to a well-informed, globally-focused corporate and technical advisory team of mining sector professionals. They have expertise in mineral exploration, geology, mineral resource estimation, mining engineering and development, mineral processing, mining infrastructure, sustainability, statutory compliance, mineral asset valuation and techno-economic modelling.
In connection with the appointment of Alex Holmes as the Company’s CEO (announced August 17, 2018), the board of directors has approved a subsequent grant of incentive stock options to Mr. Holmes to purchase an aggregate of 400,000 common shares of Plateau exercisable at a price of $0.81 per share for a period of five years in accordance with the Company’s stock option plan.
The Company has also awarded a one-time bonus amounting to C$875,000 to the Falchani discovery team for the November 2017 discovery and delineation of the maiden lithium resource. The bonus will be paid by the issuance of 633,333 common shares at a deemed value of $0.75 per share, and the remainder as C$400,000 in cash. The grant and share award remain subject to the approval of the TSX Venture Exchange.
About Plateau Energy Metals
Plateau Energy Metals Inc., a Canadian exploration and development company, is enabling the new energy paradigm through exploring and developing its Falchani lithium project and Macusani uranium project in southeastern Peru. The Company, with mineral concessions covering over 93,000 hectares (930 km2), controls all reported uranium mineral resources known in Peru and has significant and growing lithium mineral resources, all of which are situated near significant infrastructure.
For further information, please contact:
|Plateau Energy Metals Inc.|| || |
|Alex Holmes, CEO & Director ||Facebook: ||www.facebook.com/pluenergy/|
|+1-416-628-9600 ||Twitter: ||www.twitter.com/pluenergy/|
|IR@PlateauEnergyMetals.com ||Website: ||www.PlateauEnergyMetals.com|
Forward Looking Information
This press release includes certain forward-looking statements concerning the Company’s plans and expectations related to its properties, including, but not limited to, expected exploration drilling, anticipated completion and timing of the PEA and other technical work, an updated resource estimate, metallurgical test programs and a maiden PEA at Falchani Li; expected optimization work programs, an updated PEA and exploration drilling at Macusani U; and the timing and expected results related to the foregoing. Forward-looking statements are frequently identified by such words as "may", “can”, "will", "plan", "expect", "anticipate", "estimate", "intend", “indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. Although the Company believes that the opinions and expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements since the Company can provide no assurance that such opinions and expectations will prove to be correct. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; the possibility that any future exploration, development or mining results will not be consistent with our expectations; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities; risks related to commodity price and foreign exchange rate fluctuations; risks related to foreign operations; the cyclical nature of the industry in which we operate; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the certainty of title to our properties; risks related to the uncertain global economic environment; and other risks and uncertainties related to our prospects, properties and business strategy, as described in more detail in Plateau Energy Metals’ recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Plateau cautions against placing undue reliance thereon. Except as required by applicable securities laws, neither Plateau nor its management assume any obligation to revise or update these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Plateau Energy Metals Inc.
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