International Lithium reports positive PEA for Raleigh Lake in Ontario

International Lithium (TSXV: ILC; OTCQB: ILHMF) completed a positive economic assessment for its 100%-owned Raleigh Lake project, 25 km west of Ignace, Ont. The PEA assumes that a spodumene concentrate containing 6% lithium oxide (Li₂O) can be made using a crushing circuit and heavy liquid separation techniques. In phase one metallurgical tests, recoveries were above 81% and iron oxide content was within acceptable limits.

The project carries an after-tax cash flow estimate of $634 million with a net present value at an 8% discount of $342.9 million and an internal rate of return of 44.3%.

Total pre-production capital costs are pegged at $111.9 million, followed by $17.5 million sustaining costs. The total life of mine operating costs will be $381 million, including concentrate transport. The life of the mining operation will be nine years followed by two years of continuing plant operation. The PEA assumes a price of $3,139 (US$2,325) per tonne of concentrate.

The Raleigh Lake mine will be a traditional open pit at an annual rate of 54,000 tonnes of feed to the mill. The mill will be designed to crush 1,500 t/d and will have a dense media separation circuit with matching capacity. Annual output will be 56,000 t/y of 6% Li₂O concentrate.

International Lithium’s goal is to create a low-risk, low-impact, small scale mining operation to provide a domestic supply of critical minerals.

The Raleigh Lake deposit has open pit and underground measured and indicated resources of 2.3 million tonnes grading 0.64% Li₂O and containing 5,824 tonnes of lithium metal. The inferred portion is 3.9 million tonnes at 0.58% Li₂O and containing 10,499 tonnes of lithium metal. There is also potential to recover rubidium from the microcline zone within the spodumene deposit.

Learn more at www.InternationalLithium.ca.