VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 9, 2017) - Millennial Lithium Corp. (TSX VENTURE:ML)(FRANKFURT:A3N2)(OTCQB:MLNLF) ("Millennial" or the "Company") is pleased to announce that Mr. Iain Scarr has been promoted to Chief Operating Officer of the Company.
Since mid-2016, as Vice President of Development and Exploration, Mr. Scarr has overseen all aspects of development at Pastos Grandes and has helped spearhead recent acquisitions. Based in Salta, Argentina, he brings a much needed presence in dealing with local government and non-government agencies.
Since 1979, Mr. Scarr has worked primarily in the exploration and commercial development of industrial minerals. During his career with Rio Tinto, he was responsible for multiple discoveries in North America, South America and Africa. He worked on the commercial justification for the Jadar lithium-borate resource in Serbia. Mr. Scarr graduated with a BSc in geology from California State University and earned an MBA from the University of Southern California.
Following his 29 years with Rio Tinto, Mr. Scarr incorporated IMEx Consultants and, with a group of partners, formed IMEx Minerals Inc. He then joined Lithium One Inc., where he was responsible for bringing the Sal de Vida lithium brine project in Argentina through feasibility with Galaxy Resources and, more recently, the Rincon project with Enirgi.
Graham Harris, Chairman, comments, "After working with Iain over the past year, we can unequivocally state that we have the right person leading our exploration and development efforts in Argentina."
Iain Scarr comments, "Due to our early successes at Pastos Grandes and our recent acquisitions, I'm looking forward to building a bigger team here to keep our fast-track development on schedule, and increasing the scope of our activities in Argentina."
Pastos Grandes (option to acquire 100%)
The Pastos Grandes property is comprised of 6,361 hectares located in the Los Andes Department, in the Central portion of the Puna Block of Salta Province, Argentina. Millennial recently completed a phase 1 exploration program which extended the known lithium bearing brines to the depth of over 400 metres. Positive results (see news release of January 25th) have led the Company to proceed with a phase 2 drill program of definition drilling and accompanying engineering aimed at producing a NI 43-101 compliant resource and a preliminary economic assessment by the 3rd quarter of 2017.
Cauchari East (option to acquire 100%)
Millennial's Cauchari East property is comprised of 2,990 hectares on the eastern side of the Cauchari-Olaroz Salar, adjacent to Orocobre's producing Salar de Olaroz Project and Lithium Americas Corp.'s advanced stage Cauchari-Olaroz Project in Jujuy Province, Argentina. Extensive geophysical studies and subsequent drilling are scheduled to commence as soon as permitting is received.
Cruz Project (option to acquire 100%)
Millennial's Cruz Project is comprised of 2,500 hectares at the north end of the Pocitos salar basin in Salta Province, Argentina. The only known exploration near the Cruz property was a shallow 12-hole program by an Argentine government agency, Direccion General de Fabricaciones Militares in the 1970s. A hole near the southeast edge of the Cruz property boundary averaged 417 parts per million (These results are considered historical and cannot be confirmed under National Instrument 43-101 standards). The property is under option to Southern Lithium Corp., who have recently completed a geophysical exploration program of transient electromagnetics in anticipation of drilling at the end of the 1st quarter of 2017.
Pocitos West (option to acquire 100%)
Millennial's Pocitos West property is comprised of 15,857 hectares on western side of the Pocitos Salar in Salta Province, Argentina. Pocitos West is adjacent to and west of ground recently acquired by Pure Energy Minerals Ltd. and to the north of Lithium S Corp. The Pocitos Salar is strategically located in close proximately to known lithium resources including the Rincon Project, 32 kilometres (km) to the north, and the Sal De Vida Project, 90km to the south.
The four properties combined bring Millennial's total land position to over 25,000 hectares in Argentina's portion of the lithium triangle.
This news release has been reviewed by Iain Scarr, AIPG CPG., COO of the Company and a qualified person as that term is defined in National Instrument 43-101.
MILLENNIAL LITHIUM CORP.
Graham Harris, Chairman, Director
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.