Lithium Americas Provides Cauchari-Olaroz Development Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2017) - Lithium Americas Corp. ("Lithium Americas" or the "Company") (TSX:LAC)(OTCQX:LACDF) is pleased to provide an update on the Cauchari-Olaroz lithium project ("Cauchari-Olaroz" or the "Project") in the Province of Jujuy, Argentina. Cauchari-Olaroz is 100%-owned by Minera Exar S.A. ("Minera Exar"), a 50/50 joint venture company between Lithium Americas and Sociedad Quimica y Minera de Chile S.A. ("SQM").
- Increased activity at site. Development activity currently ongoing includes: the campsite construction, additional hydrological tests, drilling campaigns and testing pond liner materials at site.
- Engineering and procurement on-going. We are developing the detailed design as well as working with the evaluation of the first construction packages.
- Development schedule remains on track. The construction of the first stage of 25,000 tonnes per annum of lithium carbonate production capacity is expected to be completed in 2019.
- Strong support from Argentine government. The Environmental Impacts Report for Exploitation ("EIS") issued in 2012 is in the process of being updated. In March 2017, the provincial government of Jujuy reaffirmed in a letter that the EIS issued in 2012 is still valid and states that "…construction may commence on the necessary infrastructure approved in this permit, without prejudice to future adaptations and updates that the mining operator performs with respect to the mining project, which are subject to the analysis of this authority."
- Over 100 employees in Argentina. Minera Exar currently employs over 100 personnel in Argentina with recruiting for additional staff and executives ongoing. Total direct employment during the two-year construction period is expected to total over 1,000 people.