Tantalex Lithium Resources (CSE:TTX) Corp published an operational update on its three projects in Manono, Democratic Republic of the Congo.
The company’s activities in DRC are increasing with the current construction of the TiTan alluvial tin and tantalum project, the continued exploration activities on the pegmatite corridor and the ongoing preliminary economic assessment for the Manono Lithium Tailings project, the company said.
Tantalex’s also recently beefed up its management team with the additions of mine manager Quinton Mseredza, DRC administrative and financial manager Serge Banze Ngoy, ESG manager Eric Gagnon, public relations and communication manager Lydia Mbaka and production manager Srinivas Pallangthod.
Additionally, following a continuous disclosure review by the Ontario Securities Commission (OSC), Tantalex announced that it should not have disclosed some company information prior to the completion of its preliminary economic assessment (PEA).
In order to satisfy several deficiencies with National Instrument 43- 101 - Standards of Disclosure for Mineral Projects noted by the OSC during the continuous disclosure audit, Tantalex will need to amend its disclosure documents.
As such, the company said it wishes to retract all results of PEA and written disclosure with quantitative economic projections implying economic feasibility and other disclosures not compliant with NI 43-101 disclosed in its previous news releases, corporate presentations and interviews.
For now, the PEA for the Manono project is progressing on track with metallurgical test results from dense medium separation received and flotation testing underway. The PEA is scheduled to be issued by end of April.
At the TiTan plant, mine processing plant base concrete work is underway despite the rainy season, the company said, along with mine tailings storage facility excavation and the moving of plant equipment from Manono to the project site.
The TiTan plant is expected to be completed in May.
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