TORONTO, May 29, 2018 (GLOBE
NEWSWIRE) -- Plateau Energy Metals Inc. ("Plateau" "PLU" or
the "Company") (TSX VENTURE:PLU)
(FRANKFURT:QG1) (OTCQB:PLUUF), a lithium and uranium exploration
and development company, is pleased to announce results from
initial metallurgical test work undertaken at the Australian
Nuclear Science and Technology Organisation ("ANSTO Minerals") mineral processing laboratories
in Sydney, Australia. The test work was completed on representative
lithium-rich tuff samples collected from outcrop trenches at the
Falchani discovery on the Company's Macusani Plateau
lithium/uranium project in southeastern Peru.
The test work forms part of the
Company's continuing efforts to unlock value from the Falchani
high-grade lithium discovery and aims to demonstrate 'proof of
concept' precipitation of lithium carbonate product employing an
approach which involves simple atmospheric acid leaching of the
lithium-rich tuff material followed by conventional lithium
processing steps. Other process options for the up-front extraction
of lithium continue to be examined by ANSTO Minerals in parallel
with the current program.
ANSTO
Minerals Test Work Results
- The leach test work was conducted on bulk trench
outcrop samples of the lithium-rich tuff from the Falchani
discovery.
- The sample contained 3,336 ppm Li and was milled
to a P80 150 micron
(µm), with a slurry density of 30 wt%, and leached with a 48 hour
residence time at 90-95 °C (similar conditions to the leach test
work reported previously completed by TECMMINE in Peru).
- 90% of contained lithium was extracted to leach
solution, which compares favourably and improves on the 80% Li
extraction from the earlier TECMMINE test work.
- Lithium extraction was reported steady at ~90%
recovery level as early as 12 hours into the leach test, indicating
shorter leach times should be considered.
- Acid consumption was 153 kg/t of the material
processed.
- A preliminary lithium carbonate production
flow-sheet using a 'simple' up-front sulfuric acid leach has been
proposed by ANSTO Minerals (Figure 1 - Preliminary Acid Leach
Lithium Carbonate (LC) Flow Sheet for Falchani.jpg, attached) and
consists of well understood, conventional lithium processing
steps.
- The next phase of the ANSTO Minerals test work
will be to produce a battery grade lithium carbonate product via
this proposed flow sheet from a larger (15 kg) sample of
lithium-rich tuff material. This work should be completed in the
next 5-6 weeks.
Ted
O'Connor, CEO of Plateau Energy Metals, commented: "These
are truly exciting times for Plateau Energy Metals. The recent test
work completed at the well-known, and highly respected
'Lithium-dedicated' Laboratories at ANSTO Minerals confirms and
enhances our previous lithium leaching results. The higher, 90% Li
extraction with lower acid consumption reported at 153 kg/t bodes
well for future work on this unique lithium mineralization.
Sulfuric acid reagent costs represent the main consumable in our
proposed lithium carbonate production process, and carries an
estimated cost equivalent of US$15/tonne processed based on locally
sourced Peruvian acid (<US$100/t, delivered). Acid consumption
is expected to reduce during the locked cycle test work phase of
planned work that will more accurately reflect proposed operating
conditions.
It is also extremely encouraging
that the preliminary lithium carbonate production flow sheet
proposed by ANSTO Minerals, mirrors existing and conventional
'off-the-shelf' lithium processing methodology. We expect to see
the first laboratory based battery grade lithium carbonate product
being produced from Falchani lithium-rich tuff samples this
summer."
Qualified
Persons
Doug Collier (FAusIMM) of ANSTO Minerals, and a qualified person as
defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has
reviewed and approved the scientific and technical information
contained in this news release.
About ANSTO
Minerals
ANSTO Minerals is an international mining consultancy group located
in Sydney, Australia, with an experienced team of 60+ engineers,
metallurgists, chemists, and scientists who have been providing
consulting services and process development services to the mining
and minerals processing industries for well over 35 years. ANSTO
Minerals has world-leading expertise in uranium ore processing,
rare earth processing, zirconium/niobium/hafnium processing, base
metals processing, lithium processing (brines and hardrock), and
radioactivity control and management.
About Plateau Energy
Metals
Plateau Energy Metals Inc. is a Canadian lithium and uranium
exploration and development company focused on its properties on
the Macusani Plateau in southeastern Peru. The Company controls all
reported uranium resources known in Peru, significant and growing
lithium resources and mineral concessions covering over 91,000
hectares (910 km2) situated
near significant infrastructure. Plateau Energy Metals is listed on
the TSX Venture Exchange under the symbol 'PLU', quoted on the
OTCQB under the symbol "PLUUF" and the Frankfurt Exchange under the
symbol 'QG1'. The Company has 69,496,054 shares issued and
outstanding.
Forward Looking Information
This news release includes certain
forward-looking statements concerning possible expected results of
exploration and future exploration activities. Forward-looking
statements are frequently identified by such words as "may",
"will", "plan", "expect", "anticipate", "estimate", "intend" and
similar words referring to future events and results.
Forward-looking statements are based on the current opinions and
expectations of management. 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's 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. Neither Plateau nor its management assume
any obligation to revise or update these forward-looking
statements.
For further information, please
contact: |
|
Plateau Energy Metals Inc.
Ted O'Connor, CEO
ted@plateauenergymetals.com
+1-416-628-9600
info@plateauenergymetals.com |
Website: www.plateauenergymetals.com
Facebook: www.facebook.com/pluenergy/
Twitter: www.twitter.com/pluenergy/
|
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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.