TORONTO, July 17, 2018 /CNW/ - Namibian lithium developer
and emerging lithium concentrate producer Desert Lion Energy Inc.
(TSXV: DLI) (OTCQB: DSLEF) ("Desert Lion" or the
"Company") is pleased to announce that the Company's
off-take partner, Jiangxi Jinhui Lithium Co. Limited
("Jinhui"), has cleared the first 30,000 tonne (t) shipment
of lithium concentrate and will shortly begin processing the
product at their facility in China.
Desert Lion expects to deliver an additional 60,000 tonnes of
lithium concentrate from its sorting operations by the end of Q3
2018, ahead of the anticipated start of production from the
floatation plant in Q4 2018.
"The first 30,000t shipment has been accepted and we look
forward to processing this material and receiving the next
shipment," commented Mr. Lee, Company Secretary, Jiangxi Jinhui
Lithium Co. Limited.
Mineral Resource Estimate and Preliminary Economic Assessment
Timeline
The Company is currently completing work on its
Mineral Resource Estimate (MRE) and Preliminary Economic Assessment
(PEA), which is expected to be complete in the second half of
August.
The MRE will focus on exploration work conducted at the historic
Rubicon and Helikon mines, including the 20,000-metre drill program
concluded earlier this year, and the PEA will contain economics on
all of the proposed phases of Desert Lion's production plan. For
more information on Desert Lion's three-phase production plan,
please refer to the Company's July
2018 investor presentation at
www.desertlionenergy.com/investors.
About Desert Lion Energy
Desert Lion Energy is an
emerging lithium development company focused on building
Namibia's first large-scale
lithium mine to be located approximately 210km from the nation's
capital of Windhoek and 220km from
the Port of Walvis Bay. The Company's Rubicon and Helikon mines are
located within a 301km2 prospective land package, with
known lithium bearing pegmatitic mineralization and the Company is
currently in Phase 1 of its production plan, producing and
exporting lithium concentrate from stockpiled material. The project
site is accessible year-round by road and has access to power,
water, rail, port, airport and communication infrastructure.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws. Generally, any
statements that are not historical facts may contain
forward-looking information, and forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget"
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or indicates that certain actions, events or results
"may", "could", "would", "might" or "will be" taken, "occur" or "be
achieved." Forward-looking information includes, but is not limited
to: statements and expectations regarding the targeted additional
tonnage of lithium concentrate production from Phase 1 operations;
the timing for the completion and commencement of production from
the floatation plant; the timing for the completion of the MRE and
PEA; and the Company's planned work program for the Project and its
exploration and development schedule and timetable. Forward-looking
information is based on certain factors and assumptions management
believes to be reasonable at the time such statements are
made, including but not limited to, continued exploration
activities, lithium and other metal prices, the estimation of
initial and sustaining capital requirements, the estimation of
labour and production costs, the estimation of mineral reserves and
resources, assumptions with respect to currency fluctuations, the
timing and amount of future exploration and development
expenditures, receipt of required regulatory approvals, the
availability of necessary financing for the Project, permitting and
such other assumptions and factors as set out herein.
Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied
by such forward-looking information, including but not limited to:
risks related to changes in lithium prices; sources and cost of
power and water for the Project; the estimation of initial capital
requirements; the lack of historical operations; the estimation of
labour and operating costs; general global markets and economic
conditions; risks associated with exploration, development and
operations of mineral deposits; the estimation of initial targeted
mineral resource tonnage and grade for the Project; risks
associated with uninsurable risks arising during the course of
exploration, development and production; risks associated with the
estimation of targeted production tonnages from Phase 1 operations;
risks associated with currency fluctuations; environmental risks;
competition faced in securing experienced personnel; access to
adequate infrastructure to support exploration activities; risks
associated with changes in the mining regulatory regime governing
the Company and the Project; completion of the environmental
assessment process; risks related to regulatory and permitting
delays; risks related to potential conflicts of interest; the
reliance on key personnel; financing, capitalization and liquidity
risks including the risk that the financing necessary to fund
continued exploration and development activities at the Project may
not be available on satisfactory terms, or at all; the risk of
potential dilution through the issuance of additional common shares
of the Company; the risk of litigation.
Although the Company has attempted to identify important
factors that cause results not to be as anticipated, estimated or
intended, there can be no assurance that such forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance
on forward-looking information. Forward-looking information is made
as of the date of this presentation and the Company does not
undertake to update or revise any forward-looking information this
is included herein, except in accordance with applicable securities
laws.
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REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
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THE ADEQUACY OR ACCURACY OF THIS RELEASE
SOURCE Desert Lion Energy