VANCOUVER, BC, Oct. 24,
2024 /CNW/ - Century Lithium Corp.
(TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z)
("Century Lithium" or the "Company") is pleased to report on
progress at its wholly owned Angel Island lithium project
("Project") located in Esmeralda County,
Nevada, USA. Since the completion of a Feasibility Study on
Angel Island in April 2024, the
Company continues to focus on critical steps for the Project's
development. Primary attention is on process optimization to drive
reductions in the Project's estimated capital and operating costs,
environmental studies and permitting, and Project funding. Among
these actions, testing has continued at the Company's Lithium
Extraction Facility ("Pilot Plant") in Amargosa Valley, Nevada, with emphasis on
producing lithium carbonate samples for evaluation by domestic
end-users and interested parties.
"Century Lithium is focused on delivering results that will
position the Company as one of the most advanced opportunities for
a new domestic supply of this important and strategic commodity for
the EV and battery storage industry" said Bill Willoughby, President, and CEO of Century
Lithium. "The State of Nevada has
expressed the desire to play a critical role in the clean energy
transition, specifically through Nevada's Lithium Loop initiative focusing on
local resources to products to recycling. We are working with
Century's resources and technology to position us at the forefront
of this effort."
Pilot Plant Testing and Engineering
- Review of the Feasibility Study with emphasis on pursuing
several avenues to reduce the estimated capital and operating costs
and achieve significant improvement of the Project's economics
- Achieved onsite production of battery quality lithium carbonate
samples for evaluation and to demonstrate Angel Island's capability
as an end-to-end process for taking lithium claystone to a
battery-quality product
- Conducted initial tests with third parties on alternate
reagents and media for the Pilot Plant
- Currently installing equipment at the Pilot Plant based on
results from the above
- Initiated materials testing program to optimize and potentially
reduce the estimated costs of the tailings storage facility
Environmental Studies and Permitting
- Completed draft hydrologic model and addressing comments from
federal regulators
- Completed a draft plan of operations
- Modeled alternate locations for water supply to potentially
source process water closer to the Project within the scope of the
Company's water rights permit
- Engaged consultants to prepare key state permits with emphasis
on water pollution control and air quality
Angel Island Funding
- Communicating with potential strategic partners and end-users
of lithium carbonate for testing of our product samples
- Pursuing parties interested in marketing or obtaining a future
supply of sodium hydroxide; Century Lithium's process will produce
a surplus of sodium hydroxide, the sales of which are estimated to
result in a low net production cost for lithium carbonate
- Compiling Project information to support applications for
government funding opportunities available through the U.S.
Department of Energy and U.S. Department of Defense
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced stage lithium company,
focused on developing its wholly owned Angel Island project in
Esmeralda County, Nevada, which
hosts one of the largest sedimentary lithium deposits in
the United States. The Company has
utilized its patent-pending process for chloride leaching combined
with Direct Lithium Extraction to make battery quality lithium
carbonate samples from Angel Island lithium-bearing claystone
on-site at its Lithium Extraction Facility in Amargosa Valley, Nevada.
Angel Island is one of the few advanced lithium projects in
development in the United States
to provide an end-to-end process to produce battery grade lithium
carbonate for the growing electric vehicle and battery storage
market. Angel Island is currently in the permitting stage for a
three-phase feasibility-level production plan expected to yield an
average of 34,000 tonnes per year of battery grade lithium
carbonate over a 40-year mine-life.
Century Lithium trades on both the TSX Venture Exchange under
the symbol "LCE" and the OTCQX under the symbol "CYDVF"; and on the
Frankfurt Stock Exchange under the symbol "C1Z". To learn more,
please visit centurylithium.com.
ON BEHALF OF CENTURY LITHIUM CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE
CONTENT OF THIS NEWS RELEASE.
Cautionary Note Regarding Forward-Looking
Statements
This release contains certain forward-looking statements
within the meaning of applicable Canadian securities legislation.
In certain cases, forward-looking statements can be identified by
the use of words such as "plans", "expects" or "does not
anticipate", or "believes", or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" and similar expressions suggesting future outcomes or
statements regarding an outlook.
Forward-looking statements relate to any matters that are not
historical facts and statements of our beliefs, intentions and
expectations about developments, results and events which will or
may occur in the future, without limitation, statements with
respect to the potential development and value of the Project and
benefits associated therewith, statements with respect to the
expected project economics for the Project, such as estimates of
life of mine, lithium prices, production and recoveries, capital
and operating costs, IRR, NPV and cash flows, any projections
outlined in the Feasibility Study in respect of the Project, the
permitting status of the Project and the Company's future
development plans.
These and other forward-looking statements and information
are subject to various known and unknown risks and uncertainties,
many of which are beyond the ability of the Company to control or
predict, that may cause their actual results, performance or
achievements to be materially different from those expressed or
implied thereby, and are developed based on assumptions about such
risks, uncertainties and other factors set out
herein. These risks include those described under the
heading "Risk Factors" in the Company's most recent annual
information form and its other public filings, copies of which can
be under the Company's profile at www.sedarplus.com. The
Company expressly disclaims any obligation to
update-forward-looking information except as required by applicable
law. No forward-looking statement can be guaranteed and actual
future results may vary materially. Accordingly, readers are
advised not to place reliance on forward-looking statements or
information. Furthermore, Mineral Resources that are not Mineral
Reserves do not have demonstrated economic viability.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/century-lithium-reports-progress-on-angel-island-302285693.html
SOURCE Century Lithium Corp.