Updated Maricunga Feasibility Study
(TheNewswire)
December 20, 2021 – TheNewswire - Vancouver, British Columbia - Bearing Lithium Corp. (“Bearing” or the “Company”) (TSXV:BRZ) (OTC:BLILF) announces that the release of the updated Definitive Feasibility Study (DFS) for the Maricunga Project Stage One development previously announced for mid-December 2021 has been moved to mid-January 2022.
The dynamics and positive performance of the lithium market during the last 12 months have had a positive impact on expected market conditions. Wood Mackenzie (previously Roskill), MSB’s market advisor, has recommended updating the market chapter in the DFS to correctly reflect new perspectives that have emerged during the last six months. The report is now undergoing an internal approval process within Worley Parsons (DFS Author), for its signature, before it can be released. When coupled with the Christmas/New Year break and the requirement for a NI 43-101 sign-off, the release of the updated DFS should be no later than the end of January 2022.
Minera Salar Blanco (“MSB”) of the Maricunga Project CEO Cristobal Garcia - Huidobro commented:
“We understand that the market expected the DFS to be released in mid-December 2021. However, the impact of new perspectives for the lithium market, and the effect they have on the supply/demand balance included on the financial model, led us to delay the release of the report. Notwithstanding this minor delay, we expect that the market will be satisfied with its technical quality and the project economics.”
Bearing Lithium Corp. is a lithium-focused mineral exploration and development company. Its primary asset is a 17.14% interest in the Maricunga Lithium Brine Project in Chile. The Maricunga Project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over $US 67 million has been invested in the Maricunga Project to date.
ON BEHALF OF THE BOARD
Signed "Gil
Playford”
Gil Playford, Chairman
gplayford@bearinglithium.com
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