Lithium Mine Feasibility Update Investment Opportunities in Cornish - - PowerPoint PPT Presentation

Lithium Mine Feasibility Update

Investment Opportunities in Cornish Mining -Falmouth

17th June 2019

Presentation Overview

• MétAmpère - past projects
• MétAmpère’s objectives in Cornwall
• Challenges of unique Cornish lithium mica

– Risk factors – Zinnwaldite vs Spodumene

• MétAmpère achievements in Cornwall

– Extensive metallurgical testwork completed 2017- 2019 – First drilling completed 2019

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Who We Are

• MétAmpère Limited aims to develop battery metal

projects in a friendly jurisdiction

• The founders have considerable experience delivering

resource projects. We specialise in extractive metallurgy and plant development

• Our past projects:

– Windiummura Vanadium ($500m commissioning) – Hinda Phosphate ($67m –Start of construction) – Cinovec Lithium ($13m Spent to PFS)

3 www.metampere.com

Founding Shareholder and Project Manager

Past projects

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Strategic Context

• UK Government has ambitious plans for EVs and energy

storage and has invested heavily in EV battery research & development

• UK Car sales down 45%, investing in EVs to cost £billions
• Commercial battery production requires lithium
• No battery lithium is produced in UK or Europe
• Lithium production UK would give a strategic advantage
• ver EU
• In 2019 MétAmpère drilled the first lithium exploration

holes in British history !

• Will finish prelim economic evaluation by Q4 2019

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Lithium in Cornwall Granite

• The occurrence of lithium in Cornwall and Devon granites has

been known for decades, with many academic studies completed

• All granites contain feldspar, quartz & mica
• Some Cornish mica is enriched in a lithium-ferrous mineral

“Polylithionite-1M” (XRD Analysis) – This mineralisation is similar to, but subtly different to the micas of the Zinnwald region

• Hydrothermal decomposition of some feldspar forms kaolinite

clay

• Clay is mined by monitors and purified by removing quartz

sands and mica using physical separation

• Quartz sands and micas are commonly dumped separately
• Un-kaolinised granite (“stent”) is dumped in surface tips

6 www.metampere.com

MétAmpère’s Goal

Build a quarry & integrated processing facility to produce +20 ktpa of battery grade lithium carbonate (Li2CO3 or LCE)

• This scale is required to ensure:

– Significant market presence – Economies of scale – Engagement with off-takers (battery makers) – Government, community interest and support

• Resource Requirement

– Enough for +20 year mine life – Quarry and concentrate @ 2 Mtpa of Ore & – Minable Reserve of +40 Mt required

This output would help secure UK strategic lithium requirements, satisfying requirements for 350,000 electric cars per year

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Risk Factors

• No detailed records on composition of mining wastes
• Finding a large enough deposit with high enough

grade

• Large footprint required
• New lithium mineral “Polylithionite-1M”

– Extensive Research & Development required

• Developing a metallurgical process that economically

produces saleable battery-grade product

• Securing product offtake agreements – pilot plant

required for certification

• Permitting & development finance

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Zinnwaldite Vs Spodumene

Spodumene Zinnwaldite Current mining Only hard-rock lithium production source Not currently processed. Cinovec/Zinnwald only proposed projects Li Mineral LiAl(Si2O3)2 KLiFe2+Al2Si3O10F1.5(OH)0.5 Structure TOT Composed of tetrahedral and

• ctahedral nets C 2/m

Lithium grade Li2O 8.03% (pure mineral) 3.42% (pure mineral) Typical ROM grade Li2O ppm 12,000 6,500 (Cinovec Reserve statement) Leach extraction low temp acid roast high temp neutral roast Impurities low High, due to composition and high temp roast Potential By Product Tantalum, Tin Tin, Tungsten & Potash Flowsheet Proven, operational Theoretical Capex/Opex More expensive then brines Highest Sale to refining plant Existing refining plants take spodumene concentrate Bespoke dedicated refining plant required

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MétAmpère's Progress

• Unravelling 300 years of mining and exploration in Cornwall

– Identifying source of residues in dozens of sand-dumps / mica-dams – Revalidating old academic data – Developing detailed understanding of lithium genesis

• Mineral Tenure Review

– Mineral tenure review by Cornwall lawyers – MétAmpère has digitising title plans to produce detailed mineral ownership maps

• GIS (3D Mapping)

– British Geological Society – MétAmpère re-assayed historical BGS samples, revalidating mapping – Digitised historical survey maps, production records, lidar data – Calculating mined volumes, backfilled pits, stent, sand and mica dumps

• Metallurgical Test work

– Beneficiation testwork completed on dozens of samples – Mineral characterisation, SEM –INCA, XRD & QEM – Roast and leach of Lithium Mica Concentrate

• Field Work

– Field mapping and channel and grab sample collection – Residue collection & analysis of current china clay waste streams – CSM -Masters projects

• Drilling Program

– 6 Reverse Circulation holes completed April/May 2019 – Targeting Maiden JORC Resource Statement

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MétAmpère’s Cornwall Base

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Cornish Granite Beneficiation Tests

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MétAmpère's Pilot Plant

Lithium Mica Testwork

Mica requires a novel process flowsheet for two stages

• 1. Concentrating lithium-mica (+38,700ppm Li20)

using novel beneficiation of Run of Mine material

• Understanding variations in mineralogy, metallurgical

response and deleterious minerals

• 2. Lithium extraction and refining to produce

battery grade lithium carbonate

• Metallurgy, Quantitative-XRD, roasting optimisation
• MétAmpère has extracted lithium into solution. Now

a refining problem

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Pilot Sample Testwork

A 500 kg bulk sample (collected– Q3 2018) Phase One: Size-by-Assay, Desliming, Milling, Size-by-assay, Full- ICP, XRF, Fluorine, LOI. (Completed Q1 2019)

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Bulk Sample Sub Clay removal Lock-cycle milling QEM Liberation Phase 2 Beneficiation Mill Discharge

Phase Two - Beneficiation

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Lithium Concentrate Phase 3 - Roasting Quantitative XRD Analysis Completed Q2 2019

Scalping Rougher Stage Scavenger Cleaner

Lithium Extraction IP

12/Mar/2019 Confidential - MétAmpère Limited 17

2Theta (Coupled TwoTheta/Theta) Cornish Lithium Mica Concentrate (Polythionite-1M) Zinnwaldite Lithium Mica Concentrate MétAmpère is applying for Patents for the beneficiation, extraction and purification of Cornish Lithium Mica Granite

MétAmpère's Drilling (2019)

MétAmpère has just completed the first lithium exploration drilling program in the UK Six reverse circulation holes drilled Now working on Maiden JORC Resource Statement

12/Mar/2019 Confidential - MétAmpère Limited 18

4 Sonic holes Planned for Q4 2019

Clear Development Pathway

Preliminary Economic Assessment

• Scout Drilling

Program

• 6 RC Granite
• 4 Sonic/Diamond
• Target Definition
• GIS Modelling
• Tenure review
• Metallurgical

Testwork

• CSM-QEM

Prefeasibility study (PFS)

• Drilling Program
• JORC Resource

Statement

• Mine Design &

Schedule

• ESIA Baseline

Assessment

• Metallurgical

Testwork Development Definitive Feasibility Study (DFS)

• Infill Drilling

Program

• Pilot Scale

Metallurgical Testing

• World Bank ESIA
• Permitting and

legal

• 3D Engineering

Design

• CAPEX & OPEX +-

15% Capital Raising And Execution

• Finalise

Permitting

• Front End

Engineering Design

• Award EPC

/EPCM Contact

• Construction

18months

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info@metampere.com

Unit 6, Victoria Trading Estate Roche, Cornwall, PL26 8LX +44 1726 339345 https://www.linkedin.com/ company/metampere-limited/

BVI Company No 1921245