Toronto, Ontario – TheNewswire – June 7th, 2023 – Tantalex Lithium Resources Corp. (CSE:TTX) – (FSE:DW8) – (OTC:TTLXF) (“Tantalex” or the “Corporation”), activities in the DRC are in full speed as we are nearing completion of the Titan plant construction and finalizing the Manono Lithium Tailings Preliminary Economic Assessment.
Eric Allard, CEO 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 14-16th 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% complete with activities focused mainly on electrical connection of the various modules, building of offices and TSF excavations.
Figure 1 &2: TiTan plant in construction
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 coordinate 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 our concessions 12448 and 12447 which encompass a total area of 800km². Our 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 20,000m is planned over the next 9 months.
The Company would like to announce that Mr. Klaus Eckhof has submitted his resignation as a Non-Executive Director, and in light of this, we would also like to express our gratitude for his valuable contribution to our activities. The Company will not be replacing Mr. Eckhof immediately as a board member.
About Tantalex Lithium Resources Corporation
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.
It is currently focused on developing its lithium assets in the prolific Manono area in the Democratic Republic of Congo; The Manono Lithium Tailings Project and the Pegmatite Corridor Exploration Program.
Cautionary Note Regarding Forward Looking Statements
This presentation includes certain statements that may be deemed forward looking statements. All statements in this document, other than statements of historical facts, which address future production, reserve potential, exploration activities and events or developments that the Company expects, are forward looking statements. Such forward-looking statements include, without limitation: (i) estimates of future lithium, tin and tantalum prices, supply, demand and/or production; (ii) estimates of future cash costs and revenues; (iii) estimates of future capital expenditures; (iv) estimates regarding timing of future development, construction, production or closure activities; (v) statements regarding future exploration results; (vi) statements regarding cost structure, project economics, or competitive position, and; (vii) statements comparing the Company’s properties to other mines, projects or metals. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance, that the Company expressly disclaims any responsibility for revising or expanding the forward- looking statements to reflect actual results or developments, and that actual results or developments may differ materially from those projected, in the forward-looking statements, except as required by law.
For more information, please contact:
President & CEO
Email: [email protected]
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