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Plateau Energy Metals Inc
Symbol C : PLU
Shares Issued 76,892,314
Close 2019-01-10 C$ 0.63
Recent Sedar Documents

Plateau Energy appoints DRA as lead PEA consultant

2019-01-11 08:22 ET - News Release

Mr. Alex Holmes reports

DRA GLOBAL APPOINTED AS THE FALCHANI LITHIUM PROJECT PEA LEAD

Plateau Energy Metals Inc. has advanced its Falchani lithium project with the appointment of lead engineer and consultants for the Falchani preliminary economic assessment (the PEA).

Highlights

  • DRA Global, appointed lead consultant for the PEA, is actively developing and constructing lithium projects globally and, as the lead engineering, procurement and construction management (EPCM) firm, brings significant depth in lithium process engineering to the project.
  • Wardell Armstrong, appointed as lead for mine planning, scheduling and optimization for the PEA.
  • The Mineral Corp., appointed as independent mineral resource estimator, having completed the maiden Falchani mineral resource estimate and leading the updated mineral resource estimate planned for later in Q1 2019.

"DRA Global, Wardell Armstrong and The Mineral Corp., working alongside our internal team, bring some very current lithium project experience and processing depth," Alex Holmes, chief executive officer of Plateau, commented. "We have discovered, delineated and metallurgically advanced a significant new lithium project in a short period of time, and it is now critical to support our project advancement with a project team that has lithium processing bench strength and the know-how to scope out a robust project that can meet the stringent battery grade lithium product specifications of end-users."

The PEA is estimated to take approximately six months from initiation. DRA Global, as part of the PEA process, will work with ANSTO Minerals, Plateau's metallurgical consultant, in completing a techno-economic concept level trade-off study of alternative processing routes prior to determining the most viable route(s) to be utilized in the PEA. It is anticipated preliminary results from ANSTO's work will be completed in February, 2019, followed by a series of optimization programs working in collaboration with Plateau and its project team.

Falchani PEA project team

Plateau is pleased to announce the following appointments to the PEA project team.

DRA Global, as the lead consultant, is a diversified global engineering, project delivery and operations management group, with an impressive record spanning more than three decades. The organization is known for its collaborative approach and extensive experience in project origination and delivery, as well as turnkey operations and maintenance services. DRA, through its wholly owned subsidiary DRA Met-Chem, based in Montreal, as well as its regional offices in Perth and Cape Town, possess significant lithium process and metallurgical experts who are able to identify and develop the process requirements, through flowsheet development to the selection of process equipment, in order to minimize costs and ensure overall plant efficiency.

DRA has recently been involved in a number of lithium projects from preliminary economic assessment to feasibility study and EPCM for in-construction/expansion projects, including the recent feasibility study for Nemaska Lithium's Whabouchi mine and Hydromet plant in Shawinigan, and is currently EPCM for the concentrator at Whabouchi.

Wardell Armstrong, as lead on mine planning, scheduling and optimization, is a full-service technical mining consultancy with global expertise in the whole mine life cycle. Mr. Armstrong has been at the forefront of several strategic metals mining projects that are part of the electric vehicle revolution. Mr. Armstrong has professionally qualified and experienced industry specialists including mining engineering, rock mechanics and financial evaluation with a proven record of delivering scoping, preliminary economic assessments and feasibility level studies.

Mr. Armstrong has been involved in multiple LSE main board and AIM listings as well as National Instrument 43-101 technical reports in line with the TSX and competent person's reports in line with the ASX. Mr. Armstrong has acted on behalf of numerous lithium exploration and producing companies in geological, mining and mineral processing activities.

The Mineral Corp., as lead independent mineral resource estimator, was established in Johannesburg, South Africa, in 1997 and is home to a well-informed, globally focused corporate and technical advisory team of mining sector professionals. It has expertise in mineral exploration, geology, mineral resource estimation, mining engineering and development, mineral processing, mining infrastructure, sustainability, statutory compliance, mineral asset valuation, and techno-economic modelling.

Corporate update

In connection with the appointment of Alex Holmes as the company's chief executive officer (announced Aug. 17, 2018), the board of directors has approved a subsequent grant of incentive stock options to Mr. Holmes to purchase an aggregate of 400,000 common shares of Plateau exercisable at a price of 81 cents per share for a period of five years in accordance with the company's stock option plan.

The company has also awarded a one-time bonus amounting to $875,000 to the Falchani discovery team for the November, 2017, discovery and delineation of the maiden lithium resource. The bonus will be paid by the issuance of 633,333 common shares at a deemed value of 75 cents per share, and the remainder as $400,000 in cash. The grant and share award remain subject to the approval of the TSX Venture Exchange.

About Plateau Energy Metals Inc.

Plateau Energy Metals, a Canadian exploration and development company, is enabling the new energy paradigm through exploring and developing its Falchani lithium project and Macusani uranium project in southeastern Peru. The company, with mineral concessions covering over 93,000 hectares (930 square kilometres), controls all reported uranium mineral resources known in Peru and has significant and growing lithium mineral resources, all of which are situated near significant infrastructure.

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