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A Clean Tech Strategic Asset

Through our Falchani lithium project, our goal is to develop a large, long life project capable of producing a low impurity battery grade lithium chemical, that we believe will be well positioned to help meet the world’s shift to sustainability through electric mobility and battery storage.
Falchani has been scoped to incorporate many environmentally responsible initiatives, including the use of filtered tailings ,enabling the recycling of up to 90% of process water, and a self-sufficient, high efficiency green energy on-site acid plant with additional areas identified for future "green" improvements.

Project Highlights

Robust PEA* Base Case Economics

  • NPV(8%) = US$1.55 billion; IRR = 19.7% (after-tax using US$12,000/t Li2CO3 selling price)
  • Low second quartile operating costs(per Benchmark Mineral Intelligence)
  • Scalable, 33-year mine life producing battery-grade lithium carbonate (“Li2CO3”)

Growth Potential

  • Estimated to be 6th largest hard rock lithium deposit globally1
  • Resource estimate** based on only ~30% of target area

Quality

  • Robust metallurgical testing indicates conventional processing will produce a high purity battery grade (>99.5%) lithium carbonate

Excellent Infrastructure

  • Easy transport
  • Low cost power
  • Labour
  • Water

Supply Security (Peru)

  • Mining supportive jurisdiction
  • Responsible mining practices

1 Based on the Company's review of publicly available information as at March 2019

*NI 43-101 report titled the “Falchani Lithium Project NI 43-101 Technical Report – Preliminary Economic Assessment” prepared by John Joseph Riordan, David Thompson, Valentine Cotzee of DRA Pacific and Mr. Stewart Nupen of The Mineral Corporation

American Lithium has acquired Plateau Energy Metals as of May 11, 2021.

Falchani PEA*

BASE CASE - KEY HIGHLIGHTS

PEA Summary

ALTERNATIVE CASE - KEY HIGHLIGHTS

PEA Summary

Alternative Case scenario presented represents only the Falchani concession to demonstrate the economic value as if the Falchani concession were a standalone or phase 1 project in light of the current dispute with regards to the ownership of the Ocacasa 4 concession. See Footnote at the bottom of this page.

  • 1. After tax, average annual at steady state throughput of 6mtpa, based on a selling price of $12,000/t Li2CO3.
  • 2. See news release for OPEX breakdown
  • 3. See news release for CAPEX breakdown.
  • 4. Steady State – battery grade Li2CO3.

The PEA* is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty the results of the PEA* will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Additional work is required to upgrade the mineral resources to mineral reserves. In addition, the mineral resource estimates could be materially affected by environmental, geotechnical, permitting, legal, title, taxation, socio-political, marketing or other relevant factors.

*NI 43-101 report titled the “Falchani Lithium Project NI 43-101 Technical Report – Preliminary Economic Assessment” prepared by John Joseph Riordan, David Thompson, Valentine Cotzee of DRA Pacific and Mr. Stewart Nupen of The Mineral Corporation

Large, High Grade Resource1

High Grade Lithium-Rich Tuff
42Mt

Indicated*: ~42.5 Mt at 3,500 ppm Li (0.79Mt Li₂CO₃) (equiv.)

123Mt

Inferred*: ~123.6 Mt at 3243 ppm Li (2.13Mt Li₂CO₃) (equiv.)

Lithium-rich Tuff + Upper & Lower Breccia
60Mt

Indicated*: ~60.9Mt at 2,954 ppm Li (0.96Mt Li₂CO₃) (equiv.)

260Mt

Inferred*: ~260.1Mt at 2,706 ppm Li (3.75Mt Li₂CO₃) (equiv.)

American Lithium has acquired Plateau Energy Metals as of May 11, 2021.

Resource estimate for Falchani

In March 2019, American Lithium released an updated resource estimate that increased the resource by more than 90 percent.

Minor discrepancies due to rounding may occur. Cut-off 1,000 ppm Li Tonnes are Metric Li Conversion Factors as follows: Li:Li2O=2.153; Li:Li2CO3=5.323; Li2O:Li2CO3=2.473 Geological losses of 5% or 10% have been applied, based on geological structure and data density. The average geological loss is 6%.

1 NI 43-101 report titled “Mineral Resource Estimates for the Falchani Lithium Project in the Puno District of Peru" prepared by Mr. Stewart Nupen, of The Mineral Corporation dated April 18, 2019

Exploration Upside

Quelcaya Target

  • Outcrop mapping and sampling ~6 km west of Falchani deposit
  • 1.5 km mapped extent; sampling average grade of 2,986 ppm Li

Tres Hermanas

  • Three ridges of outcropping Li-rich tuff, interpreted as tilted upright compared to relatively horizontal at Falchani East and West
  • Each ridge estimated at ~80m high x ~750m long east-west
  • Surface samples up to 4,452 ppm Li, trenching in progress

Regional Targeting

  • 6 km by 5 km interpreted collapsed caldera setting as target for future exploration
  • ~ 20 km West, multiple surface samples up to 5,100 ppm Li from large Li-rich tuff outcrop