Investor Presentaiton
MINERAL RESOURCE ESTIMATES
BANDEIRA MRE (JANUARY 2024)
Category
Measured
Indicated
Measured + Indicated
OUTRO LADO MRE (JUNE 2023)
Resource
(Million tonnes)
Grade
(% Li20)
Contained LCE
(kt)
Deposit /
Cut-Off Grade
Category
Resource
(tonnes)
Grade
Contained
(% Li20)
LCE (t)
3.32
1.38
113
20.36
1.33
667
23.68
1.34
783
Outro Lado
(Galvani)
Underground
Measured
Indicated
2,577,915
1.47
93,691
393,370
1.43
13,908
18.25
1.37
618
(0.8% Li20)
Measured + Indicated
Inferred
2,971,285
1.46
415,767
1.48
107,599
15,168
1.
2.
Inferred
3.
The spodumene pegmatite domains were modeled using composites with Li20
grades greater than 0.3%
The mineral resource estimates were prepared in accordance with the CIM
Standards, and the CIM Guidelines, using geostatistical and/or classical methods,
plus economic and mining parameters appropriate to the deposit.
Mineral Resources are not ore reserves and are not demonstrably economically
recoverable.
4. Grades reported using dry density.
5. The effective date of the MRE is January 10, 2024.
6.
The QP responsible for the MRE is the geologist Carlos Silva (MAIG #7868).
7.
The MRE numbers provided have been rounded to the estimate relative precision.
Values cannot be added due to rounding.
8.
The MRE is delimited by Lithium Ionic Bandeira Target Claims (ANM).
9.
The MRE was estimated using ordinary kriging in 12m x 12m x 4m blocks.
10. The MRE report table was produced in Leapfrog Geo software.
11. The reported MRE only contains fresh rock domains.
12. The MRE was restricted by RPEEE with grade shell using 0.5% Li20 cut-off.
For further detail, see press releases dated October 19, 2023 and April 12, 2024.
1.
2.
The results from the pit optimization are used solely for the purpose of testing the
"reasonable prospects for economic extraction" by an open pit and do not represent an
attempt to estimate mineral reserves. There are no mineral reserves on the Project. The
results are used as a guide to assist in the preparation of a Mineral Resource statement
and to select an appropriate resource reporting cut-off grade.
Mineral resources which are not mineral reserves do not have demonstrated economic
viability. An Inferred Mineral Resources has a lower level of confidence than that
applying to a Measured and Indicated Resources and must not be converted to Mineral
Reserves. It is reasonably expected that most of the Inferred Mineral Resources could
be upgraded to Indicated Mineral Resources with continued exploration.
3.
The estimate of Mineral Resources may be materially affected by environmental,
permitting, legal, title, taxation, socio-political, marketing or other relevant issues.
4.
The effective date of the MRE is June 24, 2023.
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5.
All figures are rounded to reflect the relative accuracy of the estimate and numbers
may not add due to rounding.
8
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