Century Lithium highlights improved economics in updated feasibility study for Angel Island project
Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) has released the results of an updated National Instrument 43-101 compliant feasibility study for its wholly owned Angel Island lithium project in Esmeralda County, Nevada. The 2026 Feasibility Study incorporates additional metallurgical testing,...
Century Lithium Corp.(TSX-V:LCEOTCQX:CYDVF) View Price & Profile Century Lithium highlights improved economics in updated feasibility study for Angel Island project
Published: 09:06 23 Feb 2026 EST
Century Lithium Corp. (TSX-V:LCE, OTCQX:CYDVF) has released the results of an updated National Instrument 43-101 compliant feasibility study for its wholly owned Angel Island lithium project in Esmeralda County, Nevada.
The 2026 Feasibility Study incorporates additional metallurgical testing, engineering optimization, refinements to the mine plan, and updated capital and operating cost estimates.
The company said the study demonstrates an after-tax net present value of $4.01 billion using an 8% discount rate, based on assumed prices of $24,000 per tonne for lithium carbonate and $750 per dry metric tonne for sodium hydroxide. The after-tax internal rate of return is estimated at 27.4%.
Bill Willoughby, Century Lithium CEO, described the results of a 2026 Feasibility Study as a “material improvement.”
“These results were made possible by Century Lithium's team, who, through many steps of optimization, including those at the company's pilot plant, have delivered a more efficient development plan for the Project,” Willoughby said.
“In the 2026 Feasibility Study, this streamlined process is reflected in equipment and related infrastructure, importantly in electrical demand, and is seen in the resulting capital and operating cost estimates."
According to the company, the project is designed as a conventional open-pit mining operation targeting lithium-bearing claystone. Mined material is planned to be processed on-site using hydrochloric acid leaching, solid-liquid separation, Direct Lithium Extraction, lithium carbonate precipitation, and an integrated chlor-alkali plant to produce battery-grade lithium carbonate.
The updated study outlines a two-phase development plan. Phase 1 is planned at 7,500 tonnes per day of throughput, with an expansion to 15,000 tonnes per day in Phase 2. The third expansion phase contemplated in the 2024 study has been removed.
Planned life-of-mine average production is approximately 26,500 tonnes per year of battery-grade lithium carbonate, based on a 40-year production schedule. Proven and Probable Reserves support a mine life exceeding 60 years, according to the company.
Initial Phase 1 capital costs are estimated at $997 million, compared with $1.537 billion in the 2024 study. Phase 2 expansion capital is estimated at $660 million compared to $651 million previously. The company attributed the capital cost reductions primarily to the removal of the third phase, scope simplification, mine scheduling refinements, processing optimization informed by pilot plant work, and updated vendor and construction inputs.
Average operating costs are estimated at $30.59 per tonne of mill feed in Phase 1 and $22.16 per tonne in Phase 2. The company reported an overall operating cost equivalent of $4,389 per tonne of lithium carbonate, compared with $8,223 per tonne in the 2024 study.
Century Lithium said the planned vertically integrated chlor-alkali facility is expected to generate hydrochloric acid and produce surplus sodium hydroxide for sale. Project revenues from surplus sodium hydroxide are estimated at $5,393 per tonne of lithium carbonate produced; treated as a co-product credit, the company said this would result in a net operating cost below zero.
Measured and Indicated Mineral Resources total 1.138 billion tonnes grading 966 parts per million lithium, containing 5.852 million tonnes lithium carbonate equivalent. Inferred resources total 187.28 million tonnes at 820 ppm lithium. Proven and Probable Mineral Reserves are estimated at 287.65 million tonnes grading 1,149 ppm lithium, containing 1.759 million tonnes lithium carbonate equivalent.
Century Lithium said it will continue advancing Angel Island through submission of a plan of operations, permitting, detailed engineering, and engagement with potential partners as it moves toward a construction decision.
The company also noted the recent appointment of Dr. Cormac O’Laoire to advise on downstream and offtake discussions, the engagement of BMO Capital Markets to assist with strategic interests and development funding, and the project’s addition to the U.S. Federal Permitting Dashboard under FAST-41.