17:05:05 EST Tue 28 Nov 2023
Enter Symbol
or Name

Tantalex Lithium Resources Corp
Symbol TTX
Shares Issued 522,785,256
Close 2023-06-07 C$ 0.125
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Tantalex's Titan construction activities 80% complete

2023-06-07 16:03 ET - News Release

Mr. Eric Allard reports


Tantalex Lithium Resources Corp.'s activities in the Democratic Republic of the Congo (DRC) are in full speed as the company is nearing completion of the Titan plant construction and finalizing the Manono lithium tailings preliminary economic assessment.

Eric Allard, chief executive officer of the company, commented: "These are exciting times for Tantalex Lithium as we are executing our strategy to become an operating mining company in the DRC. After a harsh rainy season which delayed the construction efforts, the Titan plant will now be commissioned in the next few weeks. It's a great accomplishment by the entire team working relentlessly on the ground.

"We are also progressing well with our additional objective of becoming the first lithium producer in the DRC as our PEA for the Manono lithium tailings project is in its final stages of preparation. We look forward to the results of the PEA which will guide our efforts towards the next phase of development of the feasibility study (FS). As we prepare for this next big milestone, we are currently in advanced discussions with strategic parties to ensure the financing of the development activities for both the Manono lithium tailings feasibility study and pegmatite corridor planned drilling campaign."

The company is pleased to announce Mr. Allard will be making a presentation at DRC Mining Week held in Lubumbashi from June 14 to 16 on Tantalex's vision and journey to transitioning from an exploration to a producing company in the DRC. The DRC Mining Week is the biggest mining event held in the DRC and assembles all the major companies and government entities working at progressing the mining sector in the DRC. The country has taken a leading role regarding the development of the battery metal industry in Africa.

Titan plant construction

The team is progressing with multiple activities on and around the Titan mine, with the goal of becoming the most modern tin and tantalum alluvial processing plant in the DRC. The construction activities are approximately 80 per cent complete with activities focused mainly on electrical connection of the various modules, building of offices and TSF excavations.

This week the company is receiving at the project site an important delegation of stakeholders who have come to witness the progress of the construction and mutually co-ordinate the various economic and social benefits to be derived from the production of the Titan plant. The delegation was composed of representatives from Cominiere SA, the National Mining cadastre (CAMI), province of Haut-Lomami, province of Tanganyika, territorial administration and village chiefs.

Pegmatite corridor exploration

Detailed mapping activities are continuing throughout the company's concessions 12448 and 12447 which encompass a total area of 800 square kilometres. Tantalex's geological team is making great progress in adding additional prospective drilling targets and identifying outcropping pegmatites throughout the concessions. The drilling of the first principal targets on the corridor is planned once the financing has been completed. A total of 20,000 metres are planned over the next nine months.

Corporate update

The company would like to announce that Klaus Eckhof has submitted his resignation as a non-executive director, and in light of this, Tantalex would also like to express its gratitude for his valuable contribution to its activities. The company will not be replacing Mr. Eckhof immediately as a board member.

About Tantalex Lithium Resources Corp.

Tantalex Lithium is an exploration and development-stage mining company engaged in the acquisition, exploration, development and distribution of lithium, tin, tantalum and other high-tech mineral properties in Africa.

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