Millennial Commissions renewable energy-powered On-Site Development Park at their flagship Pastos Grandes Lithium project; Caution regarding recent online article concerning the Company
March 4, 2019
Millennial Lithium Corp. (ML: TSX.V) (“Millennial” or the “Company”) is pleased to announce the inauguration of its on-site permanent Project Center, including a 60-100 person camp, an on site laboratory, and a process pilot plant under construction which is to be commissioned in the second quarter. In line with the Company’s commitment to sustainability, the Project Center is to be powered by a state-of-the-art hybrid solar power system that will reduce CO2 output and costs for fuel.
Millennial President and CEO, Farhad Abasov, commented: “We at Millennial are excited to be on the leading edge of the green revolution in commissioning our renewables-powered project development park at our Pastos Grandes Salar lithium brine project in Argentina. This follows through on our personal commitment to the environment while preserving shareholder value, and our goal of producing lithium products with a low CO2 footprint. The hybrid solar power system for the Project Center is the first of its type in the Puna region of Northern Argentina. In addition to its primary benefits of minimizing CO2 output while significantly reducing operating costs, the camp energy system will help us to quantify and maximize the benefit of renewable energy saturation in our commercial operations engineering and commissioning.”
The Puna region of Northern Argentina has one of the highest levels of solar loading in the world, making it very attractive for sustainable technologies that minimize emissions of greenhouse gases. During the design and engineering phase of the Project Center, Millennial solicited proposals for renewable energy systems. Argentina and the province of Salta have implemented regulations and incentives to promote the adoption and use of renewable energy, thus there were a number of highly qualified providers. After careful consideration of a number of excellent proposals, Millennial selected an experienced local Salta company, Ergy Solar, to install and commission an integrated solar photovoltaic, battery and backup conventional power generation system. Utilizing 540 (1,050 square meters) photovoltaic (PV) panels of 330 Wp each totaling 178.2 KWp of solar power, a 500 kwh maximum storage bank of batteries and two low emissions diesel generators. The hybrid solar system is managed by a “smart” central controller that constantly reads loads and optimizes power output to the Project Center and the batteries to take full advantage of the high levels of solar resources in the Puna region. The system always prioritizes sustainable energy over traditional fossil fuels, resulting in major savings. The PV panel and battery system can provide power at maximum capacity for more than 18 hours throughout the daily 24-hour cycle, with diesel generator back-up only for some peak energy consumption times and infrequent non-sun events. At nominal energy use levels, the system will reduce fuel consumption costs by more than US$250,000 per year, and CO2 output by 147 tonnes annually.
The, turn-key, modern energy system has been completely engineered and built by Ergy Solar on-schedule, using the latest technology from tier-one manufacturers, including GCL solar panels, Hoppecke batteries, SMA inverters, chargers and control systems incorporating ABB components, and low-fuel-consumption Cummings 100 and 132kVA diesel generators. Final warranty inspection by ABB and commissioning will be completed by March 7. Photographs of the solar installation and camp are available for viewing on the Millennial Lithium website www.millenniallithium.com
The permanent camp, designed to house between 60-100 personnel includes comfortable dormitory units with private rooms and bathrooms, a full kitchen, dining room, recreation center, site offices and infirmary.
An on-site laboratory has been installed and is being commissioned. The lab, featuring an Agilent Technologies model 5110 2-axis ICP-OES analyzer will allow for quick turnaround of analyses for the ongoing pilot ponds system and the pilot plant.
The pilot plant has been designed for a 3 tonne per month output of battery quality lithium carbonate. The plant will be commissioned in the second quarter, and in the third quarter is anticipated to be producing battery quality lithium carbonate for optimization testing and customer trials.
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.
Caution regarding recent online article concerning the Company
On February 26, 2019, a third party service provider to the Company posted, online, an article recommending securities of the Company. The article has been removed from posting and public access at the Company’s request.
The article compared the Company to certain other companies in the lithium industry in Argentina. Those persons who viewed the article are cautioned that the performance of other companies, positive or negative, is not indicative of the Company’s future performance and that each company in the lithium space, and its projects, is unique.
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email email@example.com.
MILLENNIAL LITHIUM CORP.
President and CEO, Director
NEITHER THE 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.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.