Prospect Resources Appoints DRA to Arcadia Lithium Project

Prospect Resources Limited (ASX:PSC) recently announced that it has appointed global engineering firm, DRA to provide engineering services and upfront design for their flagship Arcadia Lithium Project, located 38kms east of Harare, Zimbabwe.

The Arcadia Lithium Project represents a globally significant hard rock lithium resource and is rapidly being developed by Prospect’s experienced team. The 1.2Mtpa process plant will produce saleable lithium concentrate of both spodumene and petalite.

“We believe that DRA is the perfect partner for Prospect to align with on the Arcadia Lithium project. Their broad capabilities, 15-year track record in gold, platinum, diamonds and lithium in Zimbabwe and team of highly skilled engineers and designers provide an invaluable service offering to Prospect Resources Limited,” said Harry Greaves, Executive Director of Prospect Resources Limited.

The project is halfway into an intensive eight-week period of engineering planning, design and scope clarification which will culminate in a baseline document for the project.  In the interim certain long lead time items have been ordered with additional equipment orders due to be issued imminently. Site preparations have commenced including land clearing in preparation for the pre-stripping to get under way and for the tailings dam to be built.

Paul Howard, Senior Vice President Origination (EMEA) of DRA said, “Our historical relationship with Prospect’s management team makes DRA a logical fit for the Arcadia Lithium project and one which we are excited to be a part of.  It is DRA’s future expectation to assist in battery mineral projects, which will help develop sustainable battery powered transport solutions, and contribute to a greener environment. This will be particularly positive when it comes to the reduction of greenhouse gasses.”

The engineering and design portion of the project is valued at approximately R5.3m.  The entire project is expected to be completed and in production by the second quarter of 2019.

In addition, the Company has requested that His Excellency, The President of Zimbabwe officiate the ground-breaking ceremony.  The Company is awaiting confirmation of a date when His Excellency is available, at which time we will make an announcement and extend invitations to all shareholders to attend.

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