Plateau Energy Metals Inc. takes great pleasure in announcing a new discovery region near the Falchani Lithium project and commencement of work with the community of Quelcaya for future exploration.
The discovery region is located to the west of Falchani West/Tres Hermanas and holds potential for additional lithium-rich mineralization. Outcrop sampling of lithium-rich mineralization is situated around 6 km west of Tres Hermanas with grades ranging from 2,841 ppm to 3,096 ppm Li, and an average grade of 2,986 ppm Li. Mapping so far has recognized the potential for this new zone of lithium mineralization to expand over a minimum distance of 1.5 km north-south.
Furthermore, the Company has started the “semi-detailed exploration” environmental impact assessment (EEIA) in the Quelcaya area as part of a broader Comprehensive Environmental Impact Assessment (CEIA).
While future drilling will ultimately illuminate the full potential, this new area of outcrop discovery supports our view of the potential scale of Plateau’s lithium project. We are pleased to be working closely with the community of Quelcaya in this prospective area, as it exemplifies our team’s collaborative work with communities in the Macusani plateau region during the past 12 years. Socially responsible exploration, development and mining are paramount to success in any natural resource jurisdiction. I am pleased to be working with yet another of our host communities in an effort to bring economic development to the region.
Alex Holmes, CEO, Plateau Energy Metals Inc
After receiving social acceptance and support from the community of Quelcaya, the Ministry of Energy and Mines (MINEM) offered the Company approval to continue with the process of completing the EEIA in the Quelcaya region. The initiation of the exploration program will follow completion of the EEIA and MINEM’s final approval.
The EEIA will constitute part of a CEIA, an environmental impact research based on a geographical region, in contrast to the one based on restricted drill sites. It eventually offers maximal flexibility to the Company to continue exploration efforts and project development work programs including the first ever drill program in the area west of Tres Hermanas. The CEIA will continue over the next months as part of ongoing Falchani project development.
Plateau has appointed Anddes Asociados SAC (Anddes) to complete both investigations. Anddes, an environmental and project development consulting firm set up throughout South America, consults to exploration, development, and production stage natural resource companies. Furthermore, Anddes is working with Plateau for the environmental, geotechnical, and tailings management facility related to the ongoing Preliminary Economic Assessment (PEA) for the Company’s Falchani Lithium project.
The Company has also been awarded exercise proceeds of $952,207 from 1,904,413 warrants that expired on May 8th, 2019. The current basic issued and unsettled common shares are 79,542,385.