Millennial Lithium Corp. Granted REMSA Licenses at its Pastos Grandes Project, Salta, Argentina
January 13, 2020
Millennial Lithium Corp. (ML: TSX.V) (A3N2:GR: Frankfurt) (MLNLF: OTCQB) (“Millennial” or the “Company”) is pleased to announce that the Mining Court of Salta has granted Millennial’s Argentine subsidiary, Proyecto Pastos Grandes S.A., four of the five mining licenses that comprised the original REMSA Properties.
Farhad Abasov, President and CEO commented "Millennial is pleased to have received four of the mining licenses which comprise approximately 97% of the REMSA Properties area of our Pastos Grandes Project. The licenses granted total approximately 6,447 hectares (ha). Millennial expects the fifth license to be granted in the near future. The Company continues to advance its 3 tonne-per-month lithium carbonate plant and pilot evaporation ponds in addition to completion of the community water well construction and sustainable business development and indoor recreation centre in Pastos Grandes. On corporate matters, Millennial continues to advance financing, offtake and other strategic talks with large industry players.”
Late in 2019 the Mining Court of Salta granted Millennial’s Argentine subsidiary, Proyecto Pastos Grandes S.A., four mining licenses (Ignacio, Ignacio IV, Daniel Ramon, and Aguamarga 10) which comprise 6,447 ha and the majority of the REMSA Properties. This area is a significant increase from the original REMSA Property (2,492 ha) as Millennial was granted the full areas of vacant licenses to which Millennial had the right to claim within and extending beyond the original REMSA investigation area. Millennial previously was granted the right to earn 100% of the REMSA Properties by making cash payments to REMSA and meeting a work commitment (see News Release dated August 24, 2017). REMSA has reviewed and approved these expenditures and subsequently the Mining Court approved the transfer of the mining licenses to Millennial´s wholly-owned subsidiary in Argentina, Proyecto Pastos Grandes S.A. A fifth license, Nueva Sijesyta at 204 ha is located at the far eastern limit of the Company’s land position at Pastos Grandes. Approval for this license is expected in the near future.
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.
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email firstname.lastname@example.org.
MILLENNIAL LITHIUM CORP.
President, CEO and Director
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