VANCOUVER, BC, Dec. 6, 2023
/CNW/ - Century Lithium Corp. (TSXV: LCE)
(OTCQX: CYDVF) (Frankfurt: C1Z) ("Century Lithium" or "the
Company") is pleased to provide an update on its ongoing
Feasibility Study for its Clayton Valley Lithium Project
("Project") in Clayton Valley, Nevada, and has commenced a market study on
sodium hydroxide as a soluble by-product.
Highlights
- Feasibility Study continues with work on options for a phased
approach to production
- Market study on sodium hydroxide as salable by-product to be
included in the Feasibility Study
Throughout the year, Century Lithium remained focused on the
development of its Clayton Valley Lithium Project. The work
included ongoing testing of lithium extraction at the Pilot Plant
and continuing work on the Feasibility Study for the Project, with
reviews of capital and operating cost estimates with consultants
Wood PLC, Global Resource Engineers, thyssenkrupp nucera
USA, Saltworks Technologies Inc.,
and WSP USA Environment &
Infrastructure Inc. This comprehensive study covers all areas of
the lithium extraction process from shallow surface mining of
lithium-bearing clay to on-site production of battery-grade lithium
carbonate. Target production for the study follows that of the
project's earlier Pre-Feasibility Study, which was based on a mill
feed of 15,000 tonnes per day and average annual output of 27,000
tonnes per year of lithium carbonate equivalent.
To date, the Company has worked with its Feasibility Study team
to revise and update estimates based on optimization. Given
volatility in the lithium market, the Company is examining a phased
approach to full scale production to provide prospective parties
with a lower risk alternative in financing. The Company is working
with its consultants to determine viable phases and underlying
schedules.
The scope of the Project is multi-faceted in its approach to
processing, and includes clay leaching and filtration, ion-exchange
based direct lithium extraction ("DLE") from leach solutions, and
the production of battery-grade lithium carbonate from the DLE
product solutions via concentration, purification, and
precipitation. The process is driven by locally sourced sodium
chloride brine (salt solution) which is treated by electrolysis in
a chlor-alkali plant to produce all the leaching and neutralization
reagents required for the process on-site.
In the operation of the chlor-alkali plant, the neutralizing
reagent generated is sodium hydroxide, also commonly known as lye,
caustic soda, or simply caustic. In the plant, sodium hydroxide is
produced as a by-product of the generation of the leaching reagent,
hydrochloric acid, in an amount that is slightly greater than the
production of hydrochloric acid. The acid and base are both
produced in liquid form at concentrations in the range of 30-37%,
The hydrochloric acid is fully utilized in the leaching process.
Sodium hydroxide is used at various points in the operation for
neutralization and removal of impurities.
Pilot plant testing has shown a significant amount of the sodium
hydroxide will be surplus to the production process and therefore
available as a by-product for potential sale. The western
United States is largely dependent
on imports of this essential chemical for water treatment and other
industrial uses. A market study, to be incorporated in the
Feasibility Study, recognizes the potential for revenue from sodium
hydroxide sales, tapping into the need for a domestic supply of
sodium hydroxide.
In order to properly evaluate the alternatives and incorporate
economic benefits of by-product sales, described above, the Company
anticipates completion of the Feasibility Study in Q1 2024.
Qualified Person
Todd Fayram, MMSA-QP and Senior
Vice President, Metallurgy of Century Lithium is the qualified
person as defined by National Instrument 43-101 and has approved
the technical information in this release.
About Century Lithium Corp.
Century Lithium Corp.
(formerly Cypress Development Corp.) is an advanced stage lithium
company, focused on developing its 100%-owned Clayton Valley
Lithium Project in west-central Nevada, USA. Century Lithium is currently in
the pilot stage of testing on material from its lithium-bearing
claystone deposit at its Lithium Extraction Facility in
Amargosa Valley, Nevada and
progressing towards completing a Feasibility Study and permitting,
with the goal of becoming a domestic producer of lithium for the
growing electric vehicle and battery storage market.
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 includes certain statements that may be deemed
to be "forward-looking statements". Forward-looking statements
are subject to risks, uncertainties and assumptions and are
identified by words such as "expects," "estimates,"
"projects," "anticipates," "believes," "could," "scheduled," and
other similar words. All statements in this release, other
than statements of historical facts, that address events or
developments that management of the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration, and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further
information.
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SOURCE Century Lithium Corp.