Australia-based Plymouth Minerals has completed a scoping study for the San Jose Lithium-Tin Project in the Extremadura mining region of Spain.
Commenting on the study findings, Plymouth Minerals managing director Adrian Byass said: “This scoping study demonstrates that the San Jose Lithium-Tin Project has significant production scale, long mine-life, high margins and further upside yet to be factored in through the potential to generate by-product credits which would further enhance the already very attractive economics at conservative sales price assumptions.
“The project is very well located in the Extremadura mining region of Spain, with excellent infrastructure and a burgeoning local market to supply lithium product.”
The study is based on the historical technical database acquired by Plymouth, as well as the detailed technical work the company had undertaken and completed along with its consultants over the past 16 months.
The study demonstrates the firm’s ability to operate as a significant, long-life, high-margin lithium carbonate (LC) manufacturer within the European market.
In addition, the company will carry out other optimisation studies, site investigations, and test-works before moving to a feasibility study in the coming months.
Plymouth partnered with Spanish company Sacyr and its wholly owned subsidiary Valoriza Mineria in an earn-in joint venture for the project.
Byass added: “Under the terms of this agreement, now that Plymouth has acquired a 50% interest in San Jose, Plymouth will elect to complete a feasibility study by spending a minimum of €2.5m for Plymouth to earn a 75% interest in the San Jose Lithium-Tin Project.”