11 Jul American Lithium commences EIA at Falchani project in Peru
TSXV-listed American Lithium has today announced the commencement of an Environmental Impact Assessment (EIA) at its Falchani project in Peru, paving the way for an eventual pre-feasibility study (PFS).
The EIA process will be run in parallel with work to update an existing Preliminary Economic Assessment (PEA) on Falchani, the company said in a press release.
American Lithium believes that both of these steps will position it to fast-track a PFS on the project, located in Southeastern Peru.
SRK Peru will lead the environmental assessment at Falchani, which is the sixth largest hard rock lithium deposit in the world, with a total indicated resource of 60.9 million tonnes of lithium that is based on only 30% of the project’s target area.
In the interim, American Lithium remains focused on launching planned infill and extension drilling in and around the Falchani deposit. The drilling will commence once hydrological/hydrogeological studies have been completed over next few weeks.
The existing Falchani PEA will be updated by year-end for anticipated resource expansion following the aforementioned drilling campaign. It will also include potential by-product production, the company said.
“We believe, the EIA work being undertaken combined with the work we are doing to update the existing PEA on Falchani, will further demonstrate the quality and scale of this high purity lithium deposit and will position the company to fast-track a PFS on Falchani,” said American Lithium’s CEO Simon Clarke.