Houston Luncheon set for Tuesday, Feb. 27

[dan_s]

Jeremy Poirier, President and CEO of Bearing Lithium (BRZ) is going to be our speaker on February 27 in Houston. I am bullish on the power storage / rechargeable batteries market. Lithium is one of the primary elements needed for power storage units in electric vehicles and numerous rechargeable battery applications. Plus, Bearing Lithium comes highly recommended by Scott Koyich, an EPG member based in Calgary who brought us TransGlobe Energy (TGA) and InPlay Oil Corp. (IPO), which is the newest addition to our Small-Cap Growth Portfolio.

Bearing Lithium recently put out this press release with an update on their primary project in South America. Note that BRZ is being carried 100% on this project.

Minera Salar Blanco (MSB) has provided an update on the ongoing advancements at the Maricunga lithium project in Chile. Minera Salar Blanco is a joint-venture company owned by Bearing Lithium (17.7%), Minera Salar Blanco SpA (32.3%) and Lithium Power International (50%). Under the terms of the JV, Lithium Power is funding all exploration and development costs with both Bearing and MSB having a free carry through to the completion of a definitive feasibility study.

Minera Salar Blanco reports that work with Veolia, GEA, Andritz, and FLSmith continue to advance with pilot plant testwork on lithium-rich brine from the Maricunga project. The first stage of the processing has been completed, as previously reported, with brine reaching a 5% lithium concentration. The second stage of processing, which involves the production of lithium carbonate and potash, is expected to be completed in Q1/2018. Process testwork is well advanced with optimizations to the brine polishing sequence anticipated in the coming months.

The Environmental Impact Assessment (EIA) is well advanced and is anticipated to be submitted by Q2/2018. The environmental baseline studies have been completed on site and information is being document for inclusion in the EIA. The hydrogeological model for the salar has advanced significantly, with the conceptual, numerical and two-dimensional models having been completed and the calibration of the three-dimensional model currently underway. The hydrogeological model, which will allow for the definition of a mineral reserve from the recently upgraded project brine resource, is anticipated to be completed in Q1/2018.

The joint-venture is well advanced regarding securing access to key infrastructure for the project, including existing grid electricity infrastructure and water supply options. The project is well supported with existing infrastructure, being located beside a well maintained international highway to Argentina and having cellular phone coverage. The project is three hours from the mining support centre of Copiapo, where a wide range of support services to the mining industry are available.

The joint-venture has identified the local community groups in the vicinity of the project and has been working with them throughout 2017. The local municipalities have also been engaged to make them aware of the possible outcomes of the project in their areas.

Jeremy Poirier, President and CEO of Bearing Lithium commented: “The Maricunga project has made significant advancements under the leadership of Minera Salar Blanco, the operating company of the joint-venture. The project remains on a de-risking pathway to develop the Maricunga project through the production of lithium carbonate and potash samples in Q1/2018, the finalization of the groundwater model and submission of the Environmental Impact Assessment (EIA) in Q2/2018, and the delivery of the Definitive Feasibility Study (DFS) in Q3/2018.”