Tantalex Lithium Resources Corp

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Tantalex Lithium Resources Corp. is a Lithium, Tin and Tantalum (all facing critical shortages) exploration and development company with a near term production asset in its 105Mt tailings project, “The Manono Tailings Project” in the Democratic Republic of Congo (DRC), coupled with a greenfield Lithium exploration potential South West, “the Pegmatite Corridor”, of the world class 400 million ton resource, grading 1.65% Li2O, of AVZ Minerals.

Africa and the DRC in particular, is an incredibly mineral rich region. The Manono region has a significant history with regards to the mining and exploration of tin, tantalite and niobium.

The Company is currently focused to deliver on:

• Defining the resource of the Manono-Kitotolo Tailings dumps
• Exploration of Pegmatite Corridor with the aim of defining 20-40Mt of primary pegmatite hosted Lithium, Tin and Tantalum mineralization
• Construction of an Industrial plant for Alluvial Tin and Tantalum to be completed

Developing Lithium, Tin and Tantalum Projects in Africa

Manono Tailings Project

• 105 million tonnes of material, containing Lithium, Tin and Tantalum. Mineral Resource Estimate and metallurgy results expected in Q3 2022. Preliminary Economic Assessment scheduled for Sept 2022.

Pegmatite Corridor Exploration Project

• Exploration of the corridor currently underway. Extensive hard rock Lithium potential.

Lubule Tin and Tantalum Project

• Tin and Tantalum concentrates production schedule to commence in Q3 2022.

PROJECTS IN HAND (Manono Region, DRC)

Manono Tailings Project

• The largest Lithium tailings resource in the world
• The tailings are a legacy of historical tin mining in the area
• The Project covers 105 million mt over 11 dumps, containing Lithium, Tin and Tantalum.
• Nearly 10,000m of air-core drilling has been completed to date, in 74 holes at nominal 40m spacing.
• A Mineral Resource Estimate prepared by MSA Group from South Africa is scheduled to be completed in first half of Q3 2022.
• A bulk sample of 9 mt has been sent to Coremet in South Africa to conduct Metallurgical testwork, results also expected in the first half of Q3 2022.
• Preliminary Economic Assessment scheduled for Sept 2022.

Pegmatite Corridor Exploration Project

• Extensive hardrock Lithium potential
• Located southwest of the 400 Mt resource of AVZ Minerals, which extends throughout the Company’s licences 12447 and 12448.
• 25 km long, 5 km wide corridor, which has been defined by an aeromagnetic survey. AVZ Mineral’s Roche Dure Li-Sn-Ta deposit located 9 km to the northeast, along the trend of the corridor.
• Two 4 km x 2 km radiometric K anomalies are located at the northeast and southwest ends of the corridor, indicating the presence of pegmatites below a shallow cover.
• In the remainder of 2022, the following is planned:
• to perform a 100 sq. km high resolution drone aeromagnetic survey
• the initial exploration plan includes 8,000 m of air-core drilling, 6,000 m of RC drilling and 9,000 m of diamond drilling

Lubule Tin and Tantalum Project

• A tin and tantalum alluvial rich area sitting above the pegmatite corridor in license 12447
• Plant equipment currently in DRC. On site construction to start in June.
• Plant construction underway on site
• Tin and Tantalum concentrates production scheduled to commence in Q3 2022
• Estimate Life of Mine of four years with additional exploration potential
• Projected to produce approximately 1,400 dry metric tonnes (dmt) of Tin concentrate and 220 dmt of Tantalum concentrate per annum

Investment Highlights

• An experienced and goal orientated Board of Directors with a proven record of creating value for shareholders
• A tried and tested development team with experience in the region Tantalex Lithium Resources is operating in
• Next to the largest known hard rock lithium deposit in the world
• 10,000m of drilling completed to define the resource of the largest Li-Sn-Ta tailings dump in the world
• Low carbon emission production that is nearby and above ground with low strip ratio and very low mining cost
• Credits of Tin and Tantalum where both metals find themselves in a structural deficit with higher prices for foreseeable future
• Exploration potential within the “Pegmatite Corridor” to define an Exploration Target of 20-40 Mt of primary Pegmatite hosted Li-Sn-Ta mineralization
• In a market that is transitioning from fossil fuels to electrification where Lithium, Tin and Tantalum plays a major role

Management

Management and Directors

Hadley Natus, Executive Chairman and Director

Founder of Afrimet Resources. An experienced commercial and operational centered around African business. Previously held roles in Trafigura and MRI Trading.

Eric Allard, President and Chief Executive Officer, Director

Geologist, with 20 years experience in project and operations management. Held positions in both Canada and Africa, being actively involved in both commercial and technical project management.

Kyle Appleby, Chief Financial Officer

Has held executive roles in public and private companies in Canada and abroad, focused on financial reporting and controls, governance, financing, regulatory compliance and taxation.

Jeffrey Lindhorst, Head of Exploration

An Australian geologist with over 30 years experience building and leading teams in exploration. Has worked on diverse projects globally and has significant experience in African, including the DRC.

Jose Alberto Abad, DRC Country Manager

Over 20 years’ experience in the field of accounting and project finance. He previously worked as an Accounting Manager for Almarai’s Capital Projects Division. An extremely well respected professional in the Democratic Republic of Congo.

Hannes Miller, Chief Operations Officer

Over 40 years of experience focused on mining engineering and production all over the world. Held senior positions at companies such as First Quantum Minerals, MGT International and Canadian Esperanza Resources.

Dr. Luisa Moreno, Director

Yves Kabongo, Director

Simon Collins, Director

Klaus Eckhof, Director

Matthew Botell, Director

News Update

On January 25, 2023, Tantalex Lithium Resources Corp. has filed a technical report titled "NI 43-101 Mineral Resource Report for the Manono Lithium Tailings Project, Manono, Democratic Republic of Congo," with an effective date of Dec. 13, 2022.

On January 24, 2023, Tantalex Lithium Resources Corp. obtained a revolving finance facility of $3-million (U.S.) on Jan. 13, 2023, for its TiTan tin and tantalum concentrate plant scheduled to begin production in April, 2023. The first $1-million (U.S.) payment is due on Jan. 23, 2023. The remaining funds will be made available for a drawdown as of Feb. 8, 2023. The facility shall be repaid in installments of $125,000 (U.S.), per month plus the interest payable at a rate of 10 per cent per annum.

The facility entitles its holder AfriMet Resources Ag to purchase up to 2,400 metric tonnes of tin concentrate over a period of 24 months at a rate of approximately 100 dmt per month. Construction works have now resumed and transportation of the plant modules from Manono, Democratic Republic of the Congo, to the plant location are continuing.

On December 14, 2022, Tantalex Lithium Resources Corp. has released a maiden mineral resource estimate for its majority owned Manono lithium tailings project in the Democratic Republic of the Congo. Key highlights:

• 5.46 million tonnes at 0.2 per cent Li2O (lithium oxide) in the measured and indicated category;
• 6.63 million tonnes in total inferred mineral resources at a grade of 0.49 per cent Li2O;
• Lithium contained in spodumene and amenable for production of 6 per cent Li2O spodumene concentrate (SC6);
• Mineral resource defined by 11,922 metres of drilling in a total of 368 drill holes;
• Quick path to production: material on surface, already crushed; no strip ratio, low mining costs.

On December 12, 2022, Tantalex Lithium Resources Corp.'s 70-per-cent-owned DRC subsidiary, United Cominiere SAS, has started exploration drilling on the pegmatite corridor which is immediately down-strike from the world's largest undeveloped hard rock lithium resource. Blue Sky lithium discovery potential:

• Drilling has commenced, with the first three holes completed by RC (reverse circulation) drilling;
• Drilling to test targets immediately down-strike from Dathcom Mining spodumene lithium resource of 400 million tons grading 1.65 per cent Li2O (lithium oxide);
• A total of 20,000 metres of diamond and RC drilling planned over the next nine months;
• Drill targets identified from aeromagmetiec and radiometric surveys.

On October 31, 2022, Tantalex Lithium Resources Corp. announced that it's 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 approved by Ministerial Decree for transformation to Mining Concessions.

TiTan Project Highlights :

• Tantalex may now proceed immediately with the construction of the Titan tin and tantalum alluvial concentrate plant.
• Projected to produce approximately 1'400 dmt of Tin concentrate and 220 dmt of 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 arrived and trial tested in Manono, ready for assembly on site.

On October 10, 2022, Tantalex Lithium Resources Corp. has closed the final tranche of a non-brokered private placement for gross proceeds of $697,424. The corporation has issued 8,717,800 common shares at a price of eight cents per common share of the corporation. The corporation completed an initial first tranche closing on Aug. 9, 2022, by the issuance of 6,512,500 common shares for gross proceeds of $521,000. The proceeds of the offering will be used for general working capital purposes. All securities issued pursuant to the private placement will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law.

On September 26, 2022, the final assay results received from Tantalex Lithium Resources Corp.'s 2022 infill drilling program on the K dump has returned an average grade 0.946 per cent Li2O (lithium oxide) from surface. A total of 2117 metres from 156 aircore drillholes has been completed on nominal 50m centres to define a measured category for the Mineral Resource Estimate currently underway. On September 6 th , we announced the results of the assays received from the first 41 drill holes. It confirmed average 0.946% LI20 grade from the final 115 drill holes on Manono tailings K Dump.

On September 13, 2022, Tantalex Lithium Resources Corp. has released the results of the metallurgical test work on a 331-kilogram composite bulk sample (subsample of the approximately two-tonne sample taken from drill hole locations MDC047, MDC056 and MDC 064) collected from the K-dump at the Manono reclamation project located in the Tanganyika province of the Democratic Republic of the Congo (DRC). Mineralogical analysis indicated that nearly all the lithium is contained in spodumene. It was further determined that cassiterite is the only tin-bearing mineral, and, in the case of tantalum, the overwhelming majority occurs as tantalite with low concentrations of tapiolite. Highlights:

• Heavy liquid separation (HLS) tests on a two-tonne bulk sample taken from the K-dump produced a 6-per-cent-plus Li2O (lithium oxide) spodumene concentrate at four different size classifications:
• HLS tests produced a 6.5-per-cent Li2O spodumene concentrate at overall lithium recoveries exceeding 60 per cent.
• Iron content of plus or minus 1.3 per cent in final spodumene concentrate to be reduced further with magnetic separation in phase 2 test work.
• HLS testing is the industry-standard lab-bench-scale testing to establish if physical metallurgy will be sufficient to beneficiate mineral deposits into saleable concentrates.
• In the K-dump, Li2O, tin and tantalum are evenly distributed across the different size fraction from minus five millimetres to plus 45 micrometres. Lithium recoveries increased with size fraction while tin and tantalum had improved recoveries in the finer fractions which indicated that the tin and tantalum required further liberation to improve recoveries.
• Upstream classification, dense media separation (DMS) and gravity concentration technologies will be evaluated during the phase 2 test work program to design the optimal plant for lithium, tin and tantalum extraction.

On September 06, 2022, Tantalex Lithium Resources Corp. has received assay results to date from its 2,117-metre infill drilling program on the K dump that returned consistent high-grade lithium oxide results with all drill holes returning Li2O intercepts between 0.565 per cent and 1.018 per cent Li2O from surface over an entire length of drill holes.

On July 19, 2022, Tantalex Lithium Resources Corp. announced that the company began trading of its common shares on July 11, 2022, on the OTCQB Venture Market in the United States, operated by the OTC Markets Group Inc., under the ticker symbol TTLXF.

"We are pleased to offer investors yet another avenue for trading our shares and look forward to increasing the awareness around our company for U.S. investors," said Eric Allard, chief executive officer of Tantalex. "We believe that trading on the OTCQB can lead to overall enhanced liquidity and visibility in global capital markets."

On May 26, 2022, Tantalex Lithium Resources Corp.'s common shares have commenced trading on the Canadian Securities Exchange under its new name Tantalex Lithium Resources Corp. from Tantalex Resources Corp. The symbol will remain the same. The Company's ISIN and Cusip numbers will change to CA87588D1087 and 87588D108, respectively.

On May 4, 2022, Tantalex Lithium Resources Corp. has released the results from its annual general and special meeting held on May 2, 2022, and the appointment of directors to its different committees.

Tantalex shareholders have voted in favour of fixing the number of directors at seven. As such, the following five directors have been duly re-elected: Eric Allard, Hadley Natus, Luisa Moreno, Yves Kabongo and Klaus Eckhof. The corporation welcomes to its board of directors two newly elected directors: Simon Collins and Matthew Botell.

Moreover, the shareholders have approved to change the corporation's name to Tantalex Lithium Resources Corp. The stock symbol of the corporation will remain the same.

Following the annual meeting, the board of directors have created two new committees, being the compensation committee and the governance committee, and have appointed directors to the audit committee, the compensation committee and the governance committee.

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