WorldWide Drilling Resource

50 JUNE 2013 WorldWide Drilling Resource ® Lithium Project in Argentina has Potential Adapted from a Press Release by Galaxy Resources, Inc. Galaxy Resources, Ltd., based in Perth, Australia, recently announced the Definitive Feasibility Study (DFS) on its Sal de Vida lithium-potash brine project in Argentina, has confirmed the poten- tial for a low-cost, long-life operation. A recently announced reserve esti- mate states the project could hold over 1.2 million tons of retrievable lithium car- bonate equivalent and 4.6 million tons of potassium chloride (potash or KCI) equivalent. This would support an annu- al production of over 27,500 tons of bat- tery-grade lithium carbonate and over 100,000 tons of potash over a 40-year period. Galaxy acquired the Sal de Vida project in July 2012, from a merger with Lithium One, Inc. At that time, the pre- feasibility study (PFS) had been com- pleted. The company has since funded the completion of the DFS, which includ- ed hydrology work and modeling, drilling, pump tests, resource development, pilot plant test work, flow sheet development and engineering, and logistics, in addition to market and financial modeling. The company has spent around $13 million on bankable feasibility study work head- ed by Argentinean engineering company, Taging S.A. Ingenieria Inteligente. Addi- tional engineering and process work was provided by Galaxy, Calder Maloney Pty Ltd., and Hatch Engineering. The DFS supports development of the project, which will include evaporation ponds, a battery-grade lithium carbonate plant, and a potash plant. The board will reserve making a final investment deci- sion on Sal de Vida until after its Jiangsu Lithium Carbonate Plant in China reach- es a sustained cash flow positive status, and Galaxy has received funding from its Sal de Vida joint venture partners. Galaxy Managing Director, Iggy Tan said, “The DFS confirms Sal de Vida has excellent promise as a future low-cost brine mine and lithium carbonate and potash processing facility. We have the potential to add reserves and mine life to this project and maintain belief it will become our flagship asset. It also vindi- cates our decision last year to merge with LithiumOne...to gain access to this world- class asset.” Sal de Vida is situated in the re- nowned ‘lithium triangle’ at the junction of Argentina, Chile, and Bolivia. It is locat- ed adjacent to FMC Lithium’s El Fenix lithium operation in the Salar del Hombre Muerto, which has been in operation for the last 15 years and in 2011, produced 16% of global lithium supply. Galaxy has advanced the develop- ment of Sal de Vida, employing some of the same processes and technolo- gies which have proven successful at the Jiangsu Plant. Proyecto Litio en Argentina Tiene Potencial Adaptado de un Comunicado de Prensa por Galaxy Resources, Inc. Galaxy Resources, Ltd., con sede en Perth, Australia, recientemente anuncio el Estudio de Viabilidad Definitiva (siglas en Ingles DFS) en su proyecto de litio Sal de Vida en Argentina, ha confirmado el potencial de operación de larga vida de bajo costo. Una reserva recién anunciada estima que el proyecto pueda tener mas de 1.2 millones de toneladas de carbonato de litio recuperable y 4.6 millones de tone- ladas de cloruro de potasio (KCI) equiva- lente. Esto apoyaría una producción anual de mas de 27,500 toneladas de carbonato de litio de grado de batería y mas de 100,000 toneladas de potasio sobre un periodo de los próximos 40 años. Galaxy obtuvo el proyecto Sal de Vida en Julio del 2012, de una unión con Lithium One, Inc. En ese momento, el estudio de pre-viabilidad (PFS) se ha completado. La empresa desde entonces ha fundado la terminación de DFS, que incluye trabajo de hidrología y moldeado, perforación, prueba de bombas, desar- rollo de recursos, trabajo piloto de prueba de plantas, desarrollo e ingeniería de apunte de flujo, y logística, además de modelamiento de mercado y financiero. L empresa ha invertido cerca de $13 mi- llones en el estudio de viabilidad a cargo de la empresa de ingeniería Argentina, Taging S.A. Ingeniería Intel igente. Ingeniería adicional y trabajo de proceso fue proveído por Galaxy, Calder Maloney Pty Ltd., y Hatch Enginiering. El DFS apoya el desarrollo del pro- yecto, cual incluye estanques de eva- poración, planta de carbonato de litio de grado de batería y planta de potasio. La mesa directiva reservara hacer una de- Hector Leos Translator Because of your excellent info in your monthly issues, we are going to make a tour in Illinois, Minnesota, and Kentucky to upgrade our level in water well drilling! Greetings from Colombia! 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