Blanco Minerals Inc. is developing the largest lithium project in North America at Zacatecas State in central Mexico. The site is ideally located as Tesla's Gigafactory in Nevada is accessible by overland transportation.
The Zacatecas Lithium Project consists of 12 concessions which confer rights for exploration, mining and production These concessions cover approximately 97 thousand hectares and target key areas of lithium enrichment. Blanco Minerals Inc. owns a 95% economic interest in these concessions.
As of March 2018 these areas contained and Indicated Mineral Resource estimated at 578 million tonnes (“Mt”) averaging 3,900 ppm Li for 4.9 Mt of Lithium Carbonate Equivalent ("LCE"), in addition to an Inferred Mineral Resource estimated at 215 Mt averaging 3,900 ppm Li for 2.7 Mt of LCE. A Pre-Feasibility Study (“PFS”) was completed in May 2018 which estimated a project pre-tax IRR of 51%; NPV of US$985M, (at an 8% discount rate); and simple payback of five years, based on a flat US$6,000/t for battery grade lithium carbonate over the life of mine.
The PFS has targeted initial production of 25,700 tonnes (t) of lithium carbonate (Li2CO3) per annum, expanding to 42,000 t of Li2CO3 per annum two years later. Once at this level this mine would represent one of the single largest sources of lithium compounds in the current market.
Blanco Minerals Inc.
We find, explore and develop projects which have the potential to become world class lithium, potash and rare metal deposits