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Critical Elements Lithium Corporation (CRECF) is a leading supplier of lithium to the electric vehicle and energy storage industries. Their flagship project, the Rose Lithium-Tantalum project in Quebec, has shown promising results with high-grade lithium mineralization. The company aims to secure project financing for further development while maintaining shareholder value. With strategic partnerships and a focus on sustainable practices, Critical Elements is poised for growth in the global lithium market.
Critical Elements Lithium Corporation has appointed Maysa Habelrih and Vanessa Laplante to its Board of Directors. Ms. Habelrih brings extensive experience in operational excellence and joint ventures management, previously with Alcan, achieving significant revenue growth. Ms. Laplante, a specialist in mining taxation, has over 30 years of experience, including leadership roles in the mining industry. Each director has received 200,000 stock options at an exercise price of $1.35 per share. Executive Chair Eric Zaunscherb noted the board's enhanced skill set is pivotal as the corporation prepares to advance its high-purity Rose lithium-tantalum project.
Critical Elements Lithium Corporation (CRECF) has launched a summer exploration program covering 700 km², focusing on the Rose Lithium-Tantalum Project. The program includes surface exploration and resource expansion drilling, with a target of drilling up to 25,000 metres. Key goals include expanding the mine life of the Rose project and estimating resources at the Lemare zone. The project has shown strong feasibility with an 82.4% IRR and a US$1.9 B NPV. The corporation aims to solidify its position as a lithium supplier for electric vehicles.
Power Nickel and Critical Elements Lithium Corporation announced the initial NI 43-101 compliant Mineral Resource Estimate for the Nisk Nickel Sulphide project in Quebec. The estimate includes more than 2.5 million indicated tonnes at 1.20% NiEq and 1.4 million inferred tonnes at 1.29% NiEq. Power Nickel plans to conduct infill drilling to enhance this estimate, with drilling expected to start in August 2022. This project indicates significant commercial potential, amid a backdrop of growing nickel demand in the electric vehicle market.
Critical Elements Lithium Corporation announced the results of a new Feasibility Study on its Rose Lithium-Tantalum project in Quebec. The study indicates an average production of 173,317 tonnes of chemical grade spodumene concentrate over a 17-year mine life with a gross margin of 68.3%. The estimated initial capital cost is US$357 million, with an after-tax NPV of US$1,915 million and an IRR of 82.4%. The project is positioned to meet growing lithium demand for electric vehicles and energy storage, with favorable environmental assessments completed.
Critical Elements Lithium Corporation (CRECF) announced successful results from its pilot plant program at Metso Outotec, optimizing the conversion of spodumene concentrate from the Rose Project into battery-grade lithium hydroxide. The pilot demonstrated exceptional extraction rates of 92%, with nearly complete conversion efficiencies of 98% from alpha to beta spodumene. The company is now finalizing its feasibility study for a chemical plant to produce lithium hydroxide, though implementation remains uncertain. This process positions Critical Elements as a potential key supplier for the electric vehicle market.
Critical Elements Lithium Corporation (CRECF) has received approval for the rehabilitation and restoration plan of its Rose Lithium-Tantalum Project from the Québec Minister of Energy and Natural Resources. This approval is crucial for securing the mining lease required to advance the project. The plan outlines necessary rehabilitation work and associated costs. The company is progressing in the overall approval process, having previously received a favorable decision from the Federal Minister of Environment and Climate Change. The provincial permitting process is ongoing, with positive expectations from the company.
Critical Elements Lithium Corporation has announced an aggressive exploration program for 2022, targeting a total of 25,000 meters of drilling across its lithium projects. The main objectives include expanding the Rose Lithium-Tantalum deposit, conducting tests on satellite locations, and enhancing the Lemare Lithium project to establish initial resource estimates. The company aims to use advanced AI technology for exploration and is working to secure permission from environmental authorities. The results from engineering studies are expected in the second quarter of 2022, which may support a Final Investment Decision for the Rose Project.
Power Nickel Inc. (OTCQB: CMETF) and Critical Elements Lithium Corporation (OTCQX: CRECF) report promising initial drill results from the Nisk Nickel Sulphate project. The results indicate high-grade nickel mineralization extending 150m deeper and to the northeast. Key highlights include a drilling result of 19.9m at 0.7% Ni, 0.61% Cu, with additional metals detected. The company plans to establish a new NI 43-101 compliant resource and expand its high-grade nickel-copper mineralization. The full impact of these results will be evaluated as further drilling continues.
Critical Elements Lithium Corporation has engaged Bumigeme Inc., WSP, and Golder Associates Ltd for front-end engineering design for its Rose Lithium-Tantalum project. This includes optimization of the process plant and infrastructure with updated capital cost estimates. The company also plans an Updated Feasibility Study to reassess costs and market pricing. The provincial permitting process is advanced, with confidence in a positive outcome. Additionally, a 2022 exploration program aims to expand deposits and confirm potential in known zones.
Critical Elements Lithium Corporation (TSX-V:CRE) has announced the receipt for a final short-form prospectus for its recently announced bought deal underwritten offering, set to close on December 3, 2021. The company aims to become a significant supplier of lithium for the electric vehicle and energy storage sectors, advancing the Rose lithium project in Quebec. The project boasts an internal rate of return of 34.9% and a net present value of C$726 million. Quebec's infrastructure supports the operation with low-cost hydropower.
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