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Reserves and production plan derived from an Indicated Mineral Resource of 1,304 million tonnes averaging 905 ppm Li (6.28 Mt LCE) based on cut-off grade of 400 ppm Li.Ĭypress CEO Dr.Production based on Probable Mineral Reserve of 213 million tonnes averaging 1,129 ppm Li (1.28 Mt LCE) based on a cut-off grade of 900 ppm Li.After-tax net present value (NPV-8%) of US$1.03 billion at 8% discount rate and 25.8% internal rate of return (IRR).Capital cost estimate of US$493 million, pre-production and operating cost estimate averaging US$3,387 per tonne LCE.Lithium Carbonate price of $9,500 per tonne.Average production rate of 15,000 tonnes per day to produce 27,400 tonnes lithium carbonate equivalent (LCE) annually over a 40-year mine life.Prefeasibility Study for Clayton Valley Lithium Project, Nevada - August 2020 Highlights of Prefeasibility Study: Brown, SME-RM (GRE). The Report has an Effective Date of Augand was amended March 15, 2021. Todd Fayram, MMSA-QP (CMS), Terre Lane, MMSA-QP (GRE) and J.J. Positive Prefeasibility StudyĪ positive Prefeasibility Study (PFS) for the Company's Clayton Valley Lithium Project in Nevada was prepared by Continental Metallurgical Services (CMS) and Global Resource Engineering (GRE). A sulfate-based approach, as detailed in the project’s August 2020 Prefeasibility Study below, remains a viable alternative. Results from an internal scoping study demonstrated several benefits utilizing chloride-based leaching to liberate the lithium from the claystone in the areas of economy, process, and the environment. The Company will be using a chloride-based approach for the initial configuration of the pilot plant. The operation of the pilot plant will provide essential data for a planned Feasibility Study and enable Cypress to produce marketing samples to support negotiations with potential offtake and strategic partners.ĭel Sol Refining & Extraction Facility, Nevadaĭel Sol Refining Inhouse Assay Lab, Nevada
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In March 2021, Cypress announced the development of a lithium extraction pilot plant at del Sol Refining & extraction facility, south of Beatty, Nevada. Self-generated power from a 2,500 tpd sulfuric acid plant is included in the project’s Prefeasibility Study costs. Metallurgical testing indicates low-cost processing can be achieved by leaching with low acid consumption (126 kg/t) and high lithium recovery over 85%. Surface mining will require no drilling or blasting in excavation. These features allow mining with a low strip ratio (0.29:1) due to minimal overburden and no interbedded waste. The key features of the Clayton Valley Project include the large flat-lying nature of the lithium claystone deposit.
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Lithium enriched claystone at Clayton Valley Project in Nevada Low Cost Opportunity Metallurgical testing indicates low cost processing can be achieved by leaching with low acid consumption (126 kg/t) and high lithium recovery over 85% Li. These high extractions prove the dominant lithium-bearing minerals present are not hectorite, a refractory clay mineral which requires roasting and/or high acid consumption to liberate the lithium. Lithium mineralization occurs within montmorillonite clays throughout the sediments to a depth of at least 150 meters. Exploration and development by Cypress lead to the discovery of a world-class resource of lithium-bearing claystone adjacent to the brine field to the east and south of Angel Island, an outcrop of Paleozoic carbonates protruding up through the lakebed sediments. The Company is working towards a Feasibility Study and permitting of a mine and metallurgical facility for its large deposit of lithium-bearing claystone.Ĭlayton Valley Lithium Project, Nevada claims map Bill Willoughby of Clayton Valley Project in NevadaĬlayton Valley Lithium Project, Nevada location mapĬypress owns 100% of the Clayton Valley Lithium Project totalling 5,430 acres in southwest Nevada, USA. The Clayton Valley Project is located immediately east of Albemarle’s Silver Peak mine, North America’s only lithium brine operation, which has been in continuous operation since 1966.