Millennial Lithium’s (ML.V) focus still is on the Pastos Grandes lithium project where it has completed a PEA earlier this year, but this doesn’t mean the company isn’t interested in figuring out if its other projects also contain lithium brines.
Millennial has now received the environmental permit for a geophysics and drill program at Cauchari East, allowing it to drill up to 6 wells. It took the company well in excess of a year to get these permits, as the application had to be submitted to and approved by the mining court and mining secretariat, as well as the communities, a stakeholder panel and a regional administrative office. A lot of hoops to jump through (including six community meetings), but Millennial was finally able to secure all the nods needed to start drilling Cauchari East.
Now the permits have been received and considering Millennial has in excess of C$50M in the bank, it will immediately get started on designing the six drill holes. The first step will be to run a TEM geophysics survey, where after an initial three reconnaissance will be drilled. Should these initial holes yield the desired results, Millennial will very likely immediately drill an additional three holes as well.
Go to Millennial’s website
The author has a long position in Millennial Lithium. Millennial Lithium is a sponsor of the website. Please read the disclaimer
