LEXI Announces Commencement of Exploration and Property Updates
TORONTO, Dec. 12, 2017 (GLOBE NEWSWIRE) -- Lithium Energi Exploration Inc. (TSX-V:LEXI) (FR:LO9) (“LEXI” or the “Company”) is pleased to announce that it will commence Phase I of its property exploration plans in Q1 of 2018 in conjunction with advancements in the status of its property holdings in the Province of Catamarca, Argentina.
The Company is pleased to announce that, in January 2018, it will commence Phase I of its property exploration plans, reported LEXI’s Director of Exploration, Miles Rideout today in Catamarca. “The Company’s property package is extensive and therefore, our exploration plans have been divided into phases, based on known geology, relative importance, and geographic areas within the Antofalla Salar complex. The Company has reserved field time in Q1 2018 with one of the foremost geophysical companies in South America, Quantec Geoscience, Ltd., a 30-year old company specializing in ground-based electrical and electro-magnetic earth imaging techniques, which also provides project planning and investigation all the way to final interpretation and targeting of the subsurface. Quantec has executed over 5,000 projects globally for the mining, geothermal and oil & gas sectors utilizing industry-leading technologies that are the most precise deep imaging techniques available today. Phase I will commence with transient electromagnetic (TEM) studies being conducted on up to 20 of LEXI’s most prospective claims. TEM is a well-proven, non-intrusive, rapid geophysical method used for obtaining subsurface resistivity data, which can effectively map changes within rock or soil to identify groundwater flow, conductivity in groundwater (e.g. salinity), aquifer depths, and volumetric extents of the basin. The depth of investigation can extend to over 1000 meters, depending on various technical factors used or encountered in the study. The goals for this phase of the work will be to confirm the presence of multiple aquifers at depth, identify the vertical and lateral extents of the basin, and assist in the planning for exploratory drilling. Additional sampling will also be undertaken in conjunction with full environmental impact studies that have now commenced.”
Property Update
The Company’s CEO, Steven Howard, noted that, “Since the acquisition of its Argentina subsidiaries in March 2017, the Company has focused the majority of its work in Argentina on validating the official registry of its claims and completing all prerequisite steps required to initiate substantive exploration on its concessions. New mine claims are subject to several time-consuming regulatory steps that must be completed before drilling can commence. We are delighted to announce that these regulatory steps have now been passed on over 170,000 hectares of the Company’s claims (both owned properties and those held by first right of refusal). The Company expects that an additional claim group, comprising over 63,000 hectares, will also achieve such clearances over the next 60 days, taking into account that January holidays in Argentina and resulting reduced rate of work flow through the Mining Authorities. After completion of environmental studies, the Company now expects to initiate drilling on its properties in Q3-Q4 of 2018.”
The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo., a consultant of the Company, and a qualified person as defined by National Instrument 43-101.
About Lithium Energi Exploration, Inc.
Lithium Energi Exploration Inc. is an exploration company specializing in the strategic acquisition, exploration and development of lithium brine assets in Argentina. The Company is headquartered in Toronto, Ontario and has offices in Dallas, Texas and Catamarca, Argentina. The common shares of the Company are listed on the TSX Venture Exchange (TSX-V:LEXI). The Company recently completed the acquisition of a portfolio of projects comprising over 128,000 hectares of lithium brine concessions in the Argentina Province of Catamarca in the heart of the lithium triangle.
ON BEHALF OF THE BOARD OF DIRECTORS
“Chris Hobbs”
________________________
Chris Hobbs,
Chief Financial Officer and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Lithium Energi Exploration, Inc.
Tel: 416 276-6689
Fax: 888 909-1033
Email: chris.hobbs@lithiumenergi.com
www.lithiumenergi.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this news release are made as of the date of this news release and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.