Lithium Mine Feasibility Update Investment Opportunities in Cornish Mining -Falmouth 17 th 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 2
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 Vanadiu m ($500m commissioning) – Hinda Phosphat e ($67m –Start of construction) – Cinovec Lithium ( $13m Spent to PFS) Founding Shareholder and Project Manager www.metampere.com 3
Past projects 4
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 over EU • In 2019 MétAmpère drilled the first lithium exploration holes in British history ! • Will finish prelim economic evaluation by Q4 2019 5
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 www.metampere.com 6
MétAmpère’s Goal Build a quarry & integrated processing facility to produce +20 ktpa of battery grade lithium carbonate (Li 2 CO 3 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 7
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 8
Zinnwaldite Vs Spodumene Spodumene Zinnwaldite Not currently processed. Only hard-rock lithium production Cinovec/Zinnwald only proposed Current mining source projects Li Mineral LiAl(Si 2 O 3 ) 2 KLiFe 2+ Al 2 Si 3 O 10 F 1.5 (OH) 0.5 Composed of tetrahedral and Structure TOT octahedral nets C 2/m Lithium grade Li 2 O 8.03% (pure mineral) 3.42% (pure mineral) Typical ROM grade Li 2 O 6,500 (Cinovec Reserve 12,000 ppm statement) Leach extraction low temp acid roast high temp neutral roast High, due to composition and Impurities low high temp roast Potential By Product Tantalum, Tin Tin, Tungsten & Potash Flowsheet Proven, operational Theoretical Capex/Opex More expensive then brines Highest Existing refining plants take Bespoke dedicated refining plant Sale to refining plant spodumene concentrate required 10
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 11
MétAmpère’s Cornwall Base 12
Cornish Granite Beneficiation Tests MétAmpère's Pilot Plant 13
Lithium Mica Testwork Mica requires a novel process flowsheet for two stages 1. Concentrating lithium-mica (+38,700ppm Li 2 0) 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 14
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) Lock-cycle milling Bulk Sample Mill Discharge Sub Clay removal Phase 2 Beneficiation QEM Liberation 15
Phase Two - Beneficiation Scalping Quantitative XRD Analysis Rougher Stage Cleaner Scavenger Lithium Concentrate Phase 3 - Roasting Completed Q2 2019 16
Lithium Extraction IP 2Theta (Coupled TwoTheta/Theta) Cornish Lithium Mica Concentrate (Polythionite-1M) MétAmpère is applying for Patents for the beneficiation, extraction and purification of Cornish Lithium Mica Granite Zinnwaldite Lithium Mica Concentrate Confidential - MétAmpère Limited 17 12/Mar/2019
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 4 Sonic holes Planned for Q4 2019 Confidential - MétAmpère Limited 18 12/Mar/2019
Clear Development Pathway Preliminary Definitive Capital Prefeasibility Economic Feasibility Raising And study (PFS) Assessment Study (DFS) Execution • Scout Drilling • Drilling Program • Infill Drilling • Finalise Program Program Permitting • JORC Resource • 6 RC Granite Statement • Pilot Scale • Front End Metallurgical Engineering • 4 Sonic/Diamond • Mine Design & Testing Design Schedule • Target Definition • World Bank ESIA • Award EPC • ESIA Baseline • GIS Modelling /EPCM Contact Assessment • Permitting and • Tenure review legal • Construction • Metallurgical • Metallurgical 18months Testwork • 3D Engineering Testwork Development Design • CSM-QEM • CAPEX & OPEX +- 15% 19
Unit 6, Victoria Trading Estate https://www.linkedin.com/ info@metampere.com Roche, Cornwall, PL26 8LX company/metampere-limited/ +44 1726 339345 BVI Company No 1921245
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