MONTREAL, QUEBEC--(Marketwired - Oct. 20, 2017) - Critical Elements Corporation (the "Company" or "Critical Elements") (TSX VENTURE:CRE) (OTCQX:CRECF) (FRANKFURT:F12) is pleased to announce the filing on SEDAR of a National Instrument ("NI") 43-101 technical report representing the qualifying report for the recently-announced Feasibility Study at the Rose Lithium-Tantalum Project located in James Bay, Québec. Highlights of the Feasibility Study, previously reported by Critical Elements on September 6, 2017, are as follows:
- Average annual production of 186,327 tonnes of chemical grade lithium concentrate
- Average annual production of 50,205 tonnes of technical grade lithium concentrate
- Average annual production of 429 tonnes of tantalum concentrate
- Expected life of mine of 17 years
- Average operating costs of $66.56 per tonne milled, $458 (US$344) per tonne of concentrate (all concentrate production combined)
- Estimated initial capital cost $341.2 million before working capital
- 100% equity basis for project
- Average gross margin 63.6%
- After-tax NPV of $726 million (at 8% discount rate), after-tax IRR of 34.9% and price assumption of US$1,500 per tonne technical grade lithium concentrate, US$750 per tonne chemical grade lithium concentrate, US$130 per kg tantalum pentoxide
- Anticipated construction time to start of production of 21 months
A copy of the technical report, which was filed on October 20, 2017, will be available on the Critical Elements' website at https://www.cecorp.ca/en/rose-43-101/.
Qualified Persons for NI 43-101 compliant report
The feasibility study was prepared in accordance to 43-101 standards by WSP, Bumigeme Inc, InnovExplo Inc., and MRB & Associés. InnovExplo Inc. was responsible for the resource estimate and the mine plan, Bumigeme Inc was responsible for the mineral processing, WSP was responsible for the environmental study, the project infrastructure, the market study, the financial modelling, and the report intergration, MRB & Associés was responsible for adjacent properties.
The qualified persons for the study are:
InnoExplo Inc ;
- Pierre-Luc Richard, P.Geo, geologist
- Patrick Frenette, Eng, mining engineer
Bumigeme;
- Florent Baril, Eng, metallurgical engineer
WSP;
- Eric Poirier, Eng, electrical engineer
- Olivier Joyal, geologist
- Philippe Rio Roberge, Eng, civil engineer
Others;
- Vincent Jourdain, PhD Eng, geology engineer
