Lithium Americas Corp. (TSX:
LAC)
(NYSE:
LAC) ("
Lithium Americas"
or the "
Company") is pleased to announce that the
Draft Environmental Impact Statement (“
Draft EIS”)
for the Thacker Pass lithium project (“
Thacker
Pass” or the “
Project”) is available for
public comment as published by the U.S. Bureau of Land Management
(“
BLM”) in the federal register on July 29, 2020.
Thacker Pass, located north of Winnemucca, Nevada, USA, is 100%
owned by Lithium Nevada Corp. (“
Lithium Nevada”),
a US corporation and wholly-owned subsidiary of Lithium Americas.
“With over 10 years of development and over
US$100 million invested by Lithium Americas in Nevada, the release
of the Draft EIS marks a major step in advancing Thacker Pass
towards production,” commented Jon Evans, President and CEO of the
Company. “As the largest and highest grade known sedimentary
lithium resource in the United States, Thacker Pass has the
potential to provide environmentally responsible and high-quality
lithium products for the growing electric vehicle market.”
“The milestone of filing the Draft EIS for the
low-impact Thacker Pass lithium mine and processing facility, is a
testament to the hard work of our team and the support of numerous
organizations,” said Alexi Zawadzki, President of North American
Operations. “Thacker Pass is expected to provide employment to
approximately 1,000 workers and once in operations, to 300
permanent workers, with training and skills development programs
aimed at maximizing local employment in northern Nevada.”
Permitting ProcessUnder the
National Environmental Policy Act (“NEPA”),
publication of the Draft EIS commences a 45-day public comment
period. The BLM will then consider comments submitted by the
public and regulatory agencies, update the Draft EIS as
appropriate, and issue a Final Environmental Impact Statement
(“Final EIS”). Upon publication of the Final
EIS, a 30-day availability period is expected to follow before the
BLM issues its Record of Decision (“ROD”) on the
proposed Project and exploration plan. The ROD will state the BLM’s
decision, describe alternatives that were considered, identify the
preferred alternative and rationale for selection, and set forth
any stipulations and environmental protection measures required by
the agency. A positive final decision, along with BLM’s Plan
of Operations Permit approval, if granted, would represent BLM’s
authorization for construction and operations to proceed upon
posting financial assurance for reclamation. Consistent with
the NEPA time schedule, Lithium Nevada is also applying for various
Federal, State and local permits to secure other necessary
approvals for construction, operations, and reclamation.
For more information on the Thacker Pass Draft
EIS please visit the BLM website
at https://www.blm.gov/press-release/bureau-land-management-seeks-public-input-proposed-lithium-nevada-corporation-thacker.
Feasibility StudyThe Company’s
technical team and consultants continue to advance work on the
Thacker Pass definitive feasibility study (“DFS”).
Completion of the DFS is proceeding in parallel with the permitting
process and sets out the design and layout of the Project. In
response to the COVID-19 pandemic, Lithium Americas implemented
strict health and safety measures which included temporarily
closing its research testing facility in Reno, Nevada, and
modifications on work required to complete the DFS. With
significant progress to date, the Company expects to release
results of the DFS in Q4 2020.
The BLM permitting process is based on proposed
production of 60,000 tonnes per annum of lithium carbonate
equivalent (“LCE”) for Thacker Pass at full
capacity. The Company, based on feedback from potential partners
and customers, is evaluating a phased development approach with the
production of lithium carbonate in addition to battery-quality
lithium hydroxide.
Qualified PersonScientific and
technical information provided in this news release has been
reviewed and approved by Dr. Rene LeBlanc, a Qualified Person for
purposes of National Instrument 43-101 Standard of Disclosure for
Mineral Projects by virtue of his experience, education and
professional association. Dr. LeBlanc is the Chief Technical
Officer of the Company. Information on the Company’s data
verification and QA / QC procedures is contained in Lithium
Americas’ current technical reports for the Caucharí-Olaroz lithium
project and Thacker Pass, available at www.sedar.com.
About Lithium Americas:In
addition to the Company’s 100%-owned Thacker Pass, Lithium Americas
is developing the Caucharí-Olaroz lithium brine project in Jujuy,
Argentina with 50/50 joint venture partner, Ganfeng Lithium Co. Ltd
(“Ganfeng Lithium”). The Company previously
announced a transaction whereby Ganfeng Lithium will increase its
interest to 51% with Lithium Americas holding the remaining 49%.
The transaction remains on track to close in Q3 2020. The Company
trades on both the Toronto Stock Exchange and on the New York Stock
Exchange, under the ticker symbol “LAC”.
For further information contact:
Lithium Americas
Corp. Investor Relations Suite 300 – 900 West
Hastings Street Vancouver, BC, V6C 1E5Telephone:
778-656-5820 Email:
ir@lithiumamericas.comWebsite: www.lithiumamericas.com
Forward-Looking StatementsThis
news release contains “forward-looking information” and
“forward-looking statements” (which we refer to collectively as
forward-looking information) under the provisions of applicable
securities legislation. All statements, other than statements of
historical fact, are forward-looking information. Examples of
forward-looking information in this news release include, among
other things, statements related to: development of the Thacker
Pass and Caucharí-Olaroz projects, including expected timing and
completion of permitting processes and regulatory approvals;
anticipated production levels and quality; a phased development
approach for production; the expected timing for completion of the
DFS; the ability to produce high quality battery grade lithium
carbonate and hydroxide; the anticipated impacts of successful
completion of the Thacker Pass project; and the employment
opportunities to be available if the project proceeds along with
their impact on the Northern Nevada region; the expected timing for
completion of the previously announced transaction with Ganfeng in
respect of the Caucharí-Olaroz project; and the effect of current
or any additional regulations on the Company’s operations.
Forward-looking information is based upon a
number of factors and assumptions that, if untrue, could cause the
actual results, performances or achievements of the Company to be
materially different from future results, performances or
achievements expressed or implied by such information. Such
information reflects the Company’s current views with respect to
future events and is necessarily based upon a number of assumptions
that, while considered reasonable by the Company today, are
inherently subject to significant uncertainties and contingencies.
These assumptions include, among others, forecasted demand for
lithium products, including pricing thereof, the Company’s ability
to fund, advance and develop the Caucharí-Olaroz project and the
Thacker Pass project into production, including results therefrom
and timing thereof, the impacts of COVID-19 globally and in the
jurisdictions in which we operate, and on the availability and
movement of personnel, supplies and equipment, timing of regulatory
approvals and permits, and on third parties we are in a contractual
relationship with regarding the preparation of the DFS and with
respect to permitting activities at the Thacker Pass project and
construction activities at the Caucharí-Olaroz project, accuracy of
mineral resources, including whether such mineral resources can
ever be converted into reserves, reliability of technical data,
accuracy of current budget and construction estimates, that pending
patents will be approved, ability to achieve commercial production,
general economic conditions, maintenance of a positive business
relationship with Ganfeng, timely responses from governmental
agencies responsible for reviewing and considering the Company’s
permitting activities, the Company position in a competitive
environment, and a stable and supportive legislative, regulatory
and community environment.
Forward-looking information also involves known
and unknown risks that may cause actual results to differ
materially, these risks include, among others, inherent risks in
development of capital intensive mineral projects (including as
co-owners), variations in mineral resources and mineral reserves,
global demand for lithium, recovery rates and lithium pricing,
risks associated with successfully securing adequate financing,
changes in project parameters and funding thereof, risks related to
growth of lithium markets and pricing for products thereof, changes
in legislation, governmental or community policy, political risk
associated with foreign operations, permitting risk, including
receipt of new permits and maintenance of existing permits, title
and access risk, cost overruns, unpredictable weather and
maintenance of natural resources, unanticipated delays,
intellectual property risks, currency and interest rate
fluctuations, operational risks, health and safety risks, and
general market and industry conditions. Additional risks,
assumptions and other factors are set out in the Company’s
management discussion and analysis and most recent annual
information form, copies of which are available on SEDAR at
www.sedar.com. Although the Company has attempted to identify
important risks and assumptions, given the inherent uncertainties
in such forward-looking information, there may be other factors
that cause results to differ materially. Forward-looking
information is made as of the date hereof and the Company does not
intend, and expressly disclaims any obligation to, update or revise
the forward-looking information contained in this news release,
except as required by law. Accordingly, readers are cautioned not
to place undue reliance on forward-looking information.
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