Lithium Power International (ASX:LPI) delivers Maricunga update

• Lithium Power International (LPI) has provided an update on its Maricunga Lithium Brine Project, located in Chile
• In February, the company will undertake a new field program to re-size and optimise Maricunga’s revised stage one development
• Lithium Power has already awarded drilling contracts to international companies and mobilised drilling equipment to site
• The company has also expanded the camp which accommodates contractor personnel in preparation for future operations
• Lithium Power International is up 5.8 per cent, trading at $0.36 per share

Lithium Power International (LPI) has provided an update on its Maricunga Lithium Brine Project, located in Chile.

The Maricunga Project, which Lithium Power owns a 51 per cent interest in, is the highest-grade undeveloped lithium project in Chile. In December 2020, the company decided to adopt a staged approach to the development of the project.

In February of this year, Lithium Power will undertake a new field program at the project in order to re-size and optimise Maricunga’s revised stage one development. This program will consist of 2400 metres of drilling, as well as sampling and hydraulic testing activities. 

Lithium Power has already awarded drilling contracts to international companies Major Drilling and Andinor. The company has also mobilised drilling equipment to the site.

Lithium Power’s CEO, Cristobal Garcia-Huidobro was pleased to announce that work is already underway for the Maricunga stage one strategy.

“Building on the already extensive technical work will not only let us significantly expand the current resource, but also strengthen the profile of the project,” he said.

“Our world-class group of technical partners have mobilised already, and we look forward to providing regular updates on the progress,” he added.

While work on the project’s first stage gets going, Lithium Power will also continue to evaluate and advance alternative development plans for the following stages. This preparation will be conducted with Codelco, potential other parties, and the Chilean authorities. 

In anticipation of future drilling programs and other related operations, Lithium Power has expanded the existing camp which accommodates contractor personnel. The temporary camp will continue to function until construction activities at the project commence.

Lithium Power International is up 5.8 per cent and trading at $0.36 per share at 10:59 am AEDT.