Millennial Lithium (TSXV: ML; US-OTC: MLNLF) has doubled the measured and indicated resource at its Pastos Grandes lithium project in Salta, Argentina.
The project now contains 18 billion measured and indicated cubic metres brine grading 427 milligrams per litre lithium and 4,440 milligrams per litre potassium for 4.12 million tonnes lithium carbonate-equivalent and 15.3 million tonnes potassium chloride-equivalent.
The project also contains 350 million inferred cubic metres brine at 428 milligrams per litre lithium, and 4,457 milligrams per litre potassium for 798,000 tonnes lithium carbonate-equivalent and 2.97 million tonnes potassium chloride-equivalent.
The company defined the resource over 45 sq. km by drilling more than 15,000 metres across 33 holes. Brine generally occurs within a depth of 1 metre, and has been drilled by the company to a maximum depth of 641 metres.
The company expects to table a feasibility study and build a pilot processing plant at the project by the end of 2019's second quarter.
Millennial Lithium shares are trading at $1.83 in a 52-week range of $1.04 to $3.05. The company has a $153-million market capitalization.