That compared with a previous combined measured and indicated resource of 6.6 million tonnes grading 1.16% lithium oxide and an inferred resource of 6.7 million tonnes grading 1.16% lithium oxide in a preliminary economic assessment (PEA) released last year.
Georgia Lake, planned as an open-pit and underground mining project, is located 160 km northeast of Thunder Bay.
The Vancouver-based explorer’s new study projected an after-tax net present value of $146 million with a discount rate of 8% compared with $230 million at the same discount rate estimated in the PEA. However, the new study forecast an after-tax internal rate of return of 36% (based on a spodumene concentrate price of $1,500 per tonne) versus 20% in the PEA.
The new study supported the construction and operation of a 1-million-tonne-per-year concentrator at Georgia Lake. The project would cost $192.2 million to build, with sustaining capital costs of $98.5 million…
