Vision Li files updated Sirmac PEA NI 43-101 report

Aug 11, 2023

2023-08-10 16:37 ET – News Release

Mr. Victor Cantore reports

VISION LITHIUM FILES UPDATED PRELIMINARY ECONOMIC ASSESSMENT TECHNICAL REPORT FOR THE SIRMAC LITHIUM PROJECT

Vision Lithium Inc. has filed an updated National Instrument 43-101 technical report supporting the preliminary economic assessment (PEA) for the company’s 100-per-cent-owned Sirmac lithium project, located within the Frotet-Evans greenstone belt of Northern Quebec. The technical report, titled “NI 43-101 Technical Report: Preliminary Economic Assessment on Pegmatite Dike No. 5 Lithium-Tantalum Deposit; Sirmac Property, Quebec,” dated Feb. 15, 2023 (amended Aug. 2, 2023), was prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects by Claude Duplessis, PEng, senior engineer, GoldMinds Geoservices (GMG) and Daniel Dufort, PEng, engineer, GMG.

The technical report contains certain non-material changes to the summary information contained in the company’s Feb. 21, 2023, and March 27, 2023, news releases. In particular, the consultants have added a section on density measurements to validate mineral resources, as well as cautionary language related to market studies and contracts.

The positive PEA, announced Feb. 21, 2023, demonstrates the potential for Vision Lithium to develop the Sirmac deposit as a direct shipping operation (DSO) with potential very high returns.

Preliminary economic assessment highlights:

Pretax net present value (NPV) (discount rate 5 per cent) of $183.6-million, internal rate of return (IRR) of 839 per cent and payback less than one year.
After-tax net present value (discount rate 5 per cent) of $104.8-million, internal rate of return of 484 per cent and payback less than one year.
Assumed DSO selling price of $591 (U.S.) per tonne ($797/tonne) based on $4,100 U.S./tonne concentrate pricing.
Four years of mine life with 321,000 tonnes of DSO at 1.33 per cent Li2O (lithium oxide).
Revenue of $253.4-million.
Life of mine capital of $3.1-million.
Operation cost per tonne of DSO at $142.

The PEA is preliminary in nature. Although 85 per cent of the resources used for the PEA are measured and indicated, the report does include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PEA in the technical report will be realized. Mineral resources that are not mineral reserves have not demonstrated economic viability. Additional work will be required to convert inferred mineral resources to indicated or measured mineral resources.

The technical report can be found on the company’s website and under the company’s profile on SEDAR+.

Qualified person

The technical content of this news release has been reviewed and approved by Mr. Duplessis, PEng, and Mr. Dufort, PEng, both of GoldMinds Geoservices and qualified persons as defined by NI 43-101.

About Vision Lithium Inc.

Vision Lithium is a junior exploration company focused on exploring and developing high-quality mineral assets, including lithium and copper in Canada. The company is led by skilled and qualified mineral exploration experts and business professionals with a deep understanding of the battery materials market, which is driven by lithium-ion batteries. Vision Lithium is committed to discovering new, world-class assets and bringing these assets to production, starting with its advanced Sirmac lithium property in Quebec and Godslith lithium property located in Manitoba, its greenfield Cadillac lithium and Decelles lithium properties in Quebec, and a group of base-metal-rich Ni-Cu-Co (nickel-copper-cobalt) and/or Cu-Zn-Ag-Au (copper-zinc-silver-gold) properties in eastern Quebec and New Brunswick.

We seek Safe Harbor.

https://visionlithium.com/