VANCOUVER, BC, April 25,
2022 /CNW/ - Monumental Minerals Corp.
("Monumental" or the "Company") (TSXV: MNRL) (FSE:
BE5) (OTCQB: MNMRF) is pleased to provide an update on management's
recent visit to its Salar De Laguna Blanca Cesium-Lithium Brine
Salar Project (the "Laguna Project") (see Monumental
Minerals news release dated April 21,
2022).
Members of Monumental's management team and board of directors
(Fig. 1) visited a portfolio of Lithium Chile assets, including the
Laguna Project, with representatives of Lithium Chile Inc. (TSXV:
LITH). The Laguna Project was accessed by travelling 80
kilometres west from the town of San
Pedro de Atacama via the paved road 27CH to the north end of
Salar de Aguas Calientes, then along a truck - accessible trail
heading north to the property (Fig. 2).
The long axis of the Laguna Blanca Salar is controlled by a
major northwest-southeast trending fault that was observed during
the site visit. This fault is interpreted to provide a structural
conduit promoting brine interaction with felsic volcanics,
including thick sequences of ignimbrites (volcanic ash), from which
lithium and cesium were leached, transported, and subsequently
concentrated in brines and sediments within the Laguna Blanca Salar
(Fig. 3). Other salars in the area, including Salar De Helados
(100% owned by Lithium Chile) were also visited by the Company
during the site visit that related to this same fault structure.
Brine-saturated and unsaturated sediment samples collected by
Lithium Chile from the Laguna Project returned values of 0.145% and
0.069% lithium and cesium, respectively, and the highest
concentrations form a trend parallel with the NW-SE structural
trend (Fig. 4a and b). Brine samples collected from shallow augered
holes within the brine pool (approximately 1.5 m depth) returned values of 1,230 mg/L Li;
and 40 mg/L Cs (see Monumental Minerals' news release dated
March 9, 2022).
While on-site at the Laguna Project, the Company examined ease
of access, potential seasonal and weather constraints, and
proximity to infrastructure in order to plan an exploration work
program. The work program going forward will also be coordinated
with Lithium Chile, local communities, and stakeholders.
In addition, Monumental's management met with Summit Nanotech
("Summit") in Antofagasta, Chile
to discuss their direct lithium extraction (DLE) technology,
including their pilot plant. A bulk brine sample from the Laguna
Project will be submitted to Summit for preliminary testing using
their pilot plant upon completion of the Company's first borehole
at the Laguna Project. Summit is developing 1000 m3/day modular units designed to
increase yield, reduce climate pollution, minimize the use of
chemicals and freshwater, and reduce waste by 90% compared to
traditional evaporation lithium extraction methods.
Dr. Jamil Sader, Monumental's CEO
and Director comments:
"Seeing the Laguna Blanca Project site gave us a true
appreciation of the size, scope, and quality of this important
asset within the prolific Lithium Triangle. We appreciate the deep
technical, social, and environmental knowledge that Lithium Chile
contributes and we are thrilled to be partnered with them on this
Project."
The company would also like to congratulate Lithium Chile on the
recent 19.9% purchase investment by Chengixin Lithium Corp., a
publicly listed company in China
with a market capitalization of 45.6 billion
yuan (CAD $9 billion).
Chengxin is primarily engaged in the new energy materials business
including production from spodumene and brines as well as
manufacturing of lithium products including lithium hydroxide and
lithium carbonate. Following the recent transaction of Laguna
Blanca (subject to TSX approval), Lithium Chile will become
Monumental Minerals largest shareholder, owning 9.9% of the
company.
Maximilian Sali, Founder and
Director of the Company comments:
"Following a tremendous site visit with Lithium Chile I want
thank Steve, Al and Terrance for the invaluable experience that
Monumental has gained. We look forward to working with them on
Laguna Blanca as a valued partner."
The Laguna Project is an early exploration stage project located
within the prolific lithium triangle, a zone within the central
Andes high desert that includes Chile, Argentina, and Bolivia. This zone is estimated to contain
more than half of the world's lithium supply beneath the many salt
flats, also known as salars, that are common to the region. The
Laguna Blanca property consists of 23 exploration concessions
totaling 5,200 hectares, 100% owned by Lithium Chile through its
wholly-owned Chilean subsidiary Minera Kairos Chile Limitada
("Minera Kairos"). The Laguna
Project is within 120 km of Salar de
Atacama, the largest producing salar in the world, which is
operated by SQM and Albemarle.
Qualified Person
The scientific and technical
information contained in this news release has been reviewed and
approved by Kristopher J. Raffle, P.Geo. (BC)
Principal and Consultant of APEX Geoscience Ltd. of
Edmonton, AB, a Director of the
Company and a "Qualified Person" as defined in National Instrument
43-101 – Standards of Disclosure for Mineral
Projects. Mr. Raffle verified the data disclosed which
includes a review of the sampling, analytical and test data
underlying the information and opinions contained therein.
About Monumental Minerals Corp.
Monumental Minerals
Corp. is a mineral exploration company focused on the acquisition,
exploration, and development of mineral resource properties in the
critical and electric metals sector. The Company's flagship asset
is the Jemi HREE project located in Coahuila, Mexico near the Texas, USA border which the Company has an
option to acquire 100% of the 3,650-hectare project. The Company
has an option to acquire a 75% interest and title to the Laguna
project located in Chile. The
Company has an option to acquire a 100% interest and title to the
Weyman property located in the Kamloops and Nicola Mining Divisions and in
the Thompson Nicola Regional District, British Columbia.
On behalf of the Board of Directors,
/s/ "Jamil Sader"
Jamil
Sader, Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward Looking Information
This news release
contains "forward–looking information or statements" within the
meaning of applicable securities laws, which may include, without
limitation, the plan to submit a bulk brine sample from the Laguna
Project to Summit for testing, potential plans for the Company's
projects, other statements relating to the technical, financial and
business prospects of the Company, its projects and other matters.
All statements in this news release, other than statements of
historical facts, that address events or developments that the
Company expects to occur, are forward-looking statements. Although
the Company 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 may differ materially from those in the forward-looking
statements. Such statements are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of metals, the ability to achieve its goals,
that general business and economic conditions will not change in a
material adverse manner and that financing will be available if and
when needed and on reasonable terms. Such forward-looking
information reflects the Company's views with respect to future
events and is subject to risks, uncertainties and assumptions,
including the risks and uncertainties relating to the
interpretation of exploration results, risks related to the
inherent uncertainty of exploration and cost estimates and the
potential for unexpected costs and expenses and those other risks
filed under the Company's profile on SEDAR at www.sedar.com. While
such estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory
uncertainties and risks. Factors that could cause actual results to
differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and
financing and general economic, market or business conditions,
failure to secure personnel and equipment for work programs,
adverse weather and climate conditions, risks relating to
unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters), risks relating to inaccurate geological assumptions,
failure to maintain all necessary government permits, approvals and
authorizations, fluctuation in exchange rates, the impact of
Covid-19 or other viruses and diseases on the Company's ability to
operate, an inability to predict and counteract the effects of
COVID-19 on the business of the Company, including but not limited
to, the effects of COVID-19 on the price of commodities, capital
market conditions, restriction on labour and international travel
and supply chains, decrease in the price of rare earth elements,
lithium, cesium and other metals, loss of key employees,
consultants, or directors, failure to maintain community
acceptance, increase in costs, litigation, and failure of
counterparties to perform their contractual obligations. The
Company does not undertake to update forward–looking statements or
forward–looking information, except as required by law.
SOURCE Monumental Minerals Corp.