TANTALEX LITHIUM RESOURCES ANNOUNCES AWARD OF MINING LICENSE FOR ITS TITAN TIN AND TANTALUM PROJECT
Toronto, Ontario, October 31st 2022 – Tantalex is pleased to announce that its 70% owned DRC subsidiary United Cominiere SAS has been notified by the Ministry of Mines that research permits PR 12447 and PR12448 have now been transformed to Mining Concessions.
TiTanProject Highlights
- Tantalex may now proceed immediately with the construction of the TiTantin and tantalum alluvial concentrate plant.
- Projected to produce approximately 1’400 dmtof Tin concentrate and 220 dmtof Tantalum concentrate per annum.
- Generating app. $30M USD in revenue annually at current commodity prices.
- Production scheduled to commence in March 2023.
- Equipment and machinery already arrivedand trial tested in Manono, ready for assembly on site.
Hadley Natus, Chairman of Tantalex, commented
“This is an incredible milestone for the Company as this will be generating positive cashflow for the company in early 2023. It will be the most modern alluvial plant in operation in the DRC and we believe this is likely only the first one of many more that we will install. As we progress with the development of the Manono Lithium Tailings Project, our Titan project demonstrates to our investors, the DRC government and the local stakeholders that Tantalex is serious in actually building production facilities in a sustainable manner.”
About the TiTan project
The TiTan project is situated approximately 30 km south-west of Manono, where Tantalex is currently developing the Manono Lithium Tailings Project.
The project is located along the Manono-Kitotolo LCT pegmatite in the Central African Kibaran belt. Manono-Kitotolo is an exceptionally large rare-metal pegmatite 800m wide and over 15 km long that was exploited for cassiterite and columbite–tantalite from 1913 to the 1980’s. Recent aeromagnetic/radiometric surveys and geological mapping confirm that the pegmatite strike extends to the southwest of the historical mine.
The TiTan plant is located just south of the Pegmatite Corridor in an ancient riverbed. Coltan and cassiterite is found in gravel layers 1-2 meters thick under approximately 7m of overburden.
Tantalex has designed the process to ensure the proper rehabilitation of the mining area for reforestation and/or agriculture. The majority of the alluvial area has already been mined by artisanal miners leaving the ground surface extremely scarred and unsafe. The mining method will be the conventional strip mining in an upstream direction (North to South) across the identified “Old River Channel” to minimise the influence of water when the mineral rich “G2” gravel is excavated. Following this sequence, the overburden of each strip will be backfilled with the excavators into the previously mined out strip, rehabilitating the mined-out areas with fertile ground as the mining continues.
The TiTan plant
The Plant which has been designed to be modular and easy to mobilize, has now been trial tested in Manono and is being mobilized to site. Commissioning and production is scheduled to commence in March 2023.
The modular plant will be able to produce 120t of tin concentrate and 20t of tantalum concentrates per month generating important revenues which will allow the development and exploration of our additional assets in the Manono region.
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.
