Lithium Power International Limited: Announces the Acquisition of Water Rights for its Maricunga Lithium Brine Project
Sydney, Australia - Lithium Power International Ltd. (ASX:LPI) (FRA:24L) (OTCMKTS:LTHHF) is pleased to announce that it has completed the acquisition of water rights covering its Maricunga lithium project in Chile.With this acquisition of the 62 litres/second CAN 6 rights, the company can replace a long-term lease that it previously held for part of its water requirements.1This will secure the supply for future needs of both its Stage One project and any future expansions. Owning the water rights allows LPI to control its future water consumption without the risk of external interference from third parties.
The Stage One project will produce an average of 15,200 tonnes per year of highly pure, battery grade lithium carbonate and will have a low, freshwater consumption, of just 8 l/s.
Lithium Power International's Chief Executive Officer, Cristobal Garcia-Huidobro, commented:
"Water rights are critical to the operation and development of lithium brine projects. Owning all of the CAN 6 water rights, allow us not only to secure the future needs of water for the Stage One project and future expansions at Maricunga, but improves LPI's position looking forward."
About Lithium Power International Ltd:
Lithium Power International Ltd. (ASX:LPI) is a pure play lithium company with three distinct project regions to provide diversification. One is located in South America's brine region and three are in Australia's spodumene hard rock areas of Western Australia.
The primary focus is to develop of Chile's next high-grade lithium mine on the Maricunga Salar in an area known as the Lithium Triangle. The Company has also expanded its tenement holdings of lithium exploration prospects in Western Australia.
Source:
Lithium Power International Ltd.
Contact:
Andrew Phillips CFO or, Cristobal Garcia-Huidobro - CEO E: info@lithiumpowerinternational.com Ph: +61-2-9276-1245 www.lithiumpowerinternational.com @LithiumPowerLPI