LSC Lithium Announces Exploration Update on Argentinian Lithium Projects
TORONTO, Dec. 13, 2017 (GLOBE NEWSWIRE) -- LSC Lithium Corp. (“LSC” or together with its subsidiaries, the “Company”) (TSXV:LSC) is pleased to announce the rapid progress being made on its five key projects, Pozuelos, Pastos Grandes, Rio Grande, Salinas Grandes, and Jama, all located within the Argentinian section of the “Lithium Triangle”. These tenements cover an attributable 234,519 hectares within the Company’s overall holding of 306,347 hectares (Map 1).
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PROJECT DEVELOPMENT UPDATE
Pozuelos:1 On track to deliver a NI 43-101 Mineral Resource estimate by year-end
- Exploration target between 860kt LCE at 500mg/l Li and 1,030kt LCE at 600mg/l Li2
- Extensive mineralization drilled across the 10,787 ha salar peaking at 508 mg/l Li
- Grades are consistent with previous short term average pump test results of between 545mg/l Li to 602 mg/l Li
- Excellent Relative Brine Release Capacity values peaking at 16.33%
- Series of pumping well tests and hydrogeological studies have commenced
- The salar is 99% controlled by the Company
Pastos Grandes: Progressing towards completing a NI 43-101 Mineral Resource report in Q2, 2018. First two drill holes have delivered wide high-grade lithium mineralization
DRILL HOLE SPG-2017-02B3
- Average lithium grades returned a peak of 511mg/l Li
- Consistent and wide lithium mineralization to significant depth of 512m
- Favorable brine chemistry - Mg/Li ratio ranging between 6:1 and 8:1
DRILL HOLE SPG-2017-04A4
- Peak value intersected of 528mg/l Li
- Three wide zones of lithium mineralization intersected including 62m at 500mg/l Li from 342m with an average Mg/Li ratio of 6:7
Rio Grande: Advancing towards completing a NI 43-101 Mineral Resource estimate in Q1, 2018
- 8 drill hole historic data verification drill program ongoing
- Pump tests to start before year-end to verify historic pump rates
- CSAMT results indicate up to 600m depocenter in the northern half of the salar
Salinas Grandes: Updated NI 43-101 Mineral Resource estimate planned for Q1, 2018
- Currently verifying and potentially upgrading the NI 43-101 Mineral Resource prepared by Orocobre Ltd.5
- Verification surface sampling, drill hole sampling and trench pump tests ongoing
Jama: 80km seismic survey under way, expected completion by end January, 2018
LSC’s President and CEO Ian Stalker, noted “The Company’s recent decision to accelerate its key projects through initial mineral resource generation and then into feasibility study stage, is consistent with our plan to develop a multiple business unit lithium production strategy, in the medium term. The traction we are starting to see in terms of current delivery of exploration results is pleasing and the first step in this process. Our near-term goal is to report mineral resources on four of our five key projects over the next two quarters and thereafter into pre-feasibility”.
Map 1: LSC Project Location Map - http://www.globenewswire.com/NewsRoom/AttachmentNg/6dd916dd-f6e2-4ce8-9742-f1affecec36c
Brine samples are recovered from the diamond holes using a packer system to isolate specific levels in the holes and assayed at Alex Stewart Assayers (“ASA”) in Mendoza, Argentina. Core samples for Relative Brine Release Capacity (“RBRC”) tests to determine Specific Yield, a measure of effective porosity, were taken from the drill hole representing all lithologies and all depths of the hole drilled. Samples are shipped to Daniel B. Stephens & Associates Inc. (“DBSA”) in Albuquerque, New Mexico for analysis. DBSA has developed a proprietary method to test effective porosity of core samples from salars that has been widely adopted by companies exploring for lithium brines. Details of the method are described in a paper by Stormont6 et. al. (2011). The results show moderately high RBRC values in the upper halite zones and productive zones in the deeper lying clastic zones. Pumping tests to develop additional hydraulic data are planned to commence as soon as the planned pumping well program is completed.
Sampling and QA/QC
Brine sampling for packer tests involved collection of brine from the sample interval in a 20-litre container, which was flushed with fresh brine several times prior to collection of the sample. Brine was poured into 1-litre sample bottles which had been previously flushed with fresh brine from the 20-litre container several times. Sample bottles were filled to the top to eliminate the inclusion of air and sealed with a leak proof lid. Samples were labelled and labels covered in clear tape to prevent erasure of sample information. All samples remained in the possession of the site geologist until delivery to ASA in Mendoza, Argentina by courier. Brine sampling for the pump stress test involved collection of samples from a valve attached to the pump outlet. Brine was allowed to flush and then fresh brine was used to wash the sample bottle several times before collecting the sample. Sample bottles were 1-litre in size and were filled to the top to prevent entrance of air. The samples were sealed with a leak proof lid, labelled and the label covered by clear tape. Samples remained in the possession of the site until delivery by courier to the assay laboratory.
RBRC samples were cut to length using a hack saw, bubble wrapped for protection and then placed in PVC tubes which were sealed with packaging tape. The samples were labelled and the labels wrapped in clear tape. Samples remained in the custody of the site geologist until shipped. Brine (20-litres) from each of the holes from which the samples were collected was also shipped to DBSA as part of the sample test protocol. DBSA is independent of LSC.
LSC has a well-developed QA/QC program. Brine assays are undertaken at ASA in Mendoza, Argentina. ASA is independent of LSC and has significant experience in assaying lithium brines and is certified to ISO17025 standards. Brine assays are undertaken using ICP, gravimetric, potentiometric and volumetric methods as detailed in the press release from LSC dated April 10, 2017.
ASA runs internal duplicates at a rate of 1 in 20. LSC inserts blanks and standards in sample batches at a rate of 1 in 20. Standards are internal standards developed by LSC that have been independently certified by round robin testing. LSC uses distilled water as blanks.
Qualified Person/Data Verification
The scientific and technical information included in this press release is based upon information prepared and approved by Donald H. Hains, P.Geo. Mr. Hains is a qualified person, as defined in NI 43-101 and is independent of LSC and Orocobre. Mr. Hains has verified all sampling, analytical and test data underlying the information contained in this press release by on-site inspection during drilling, brine sampling, and selection of RBRC samples; review of drill core photographs to verify lithology; review of certified assay certificates against the assay data base; review of pump test data; and review of RBRC results received from DBSA. There are no drilling, sampling, recovery or other factors that could materially affect the accuracy and reliability of the data.
ABOUT LSC Lithium Corp.:
LSC Lithium has amassed a large portfolio of prospective lithium rich salars and is focused on developing its tenements located in five salars: Pozuelos, Pastos Grandes, Rio Grande, Salinas Grandes, and Jama. All LSC tenements are located in the “Lithium Triangle,” an area at the intersection of Argentina, Bolivia, and Chile where the world’s most abundant lithium brine deposits are found. LSC Lithium has a land package portfolio totaling approximately 300,000 hectares, which represents extensive lithium prospective salar holdings in Argentina.
For further information please contact:
LSC Lithium Corp.
Ian Stalker
President & Chief Executive Officer
Suite 3001, 1 Adelaide Street East
Toronto, Ontario M5C 2V9
(416) 304 9384
Email: info@lsclithium.com
Web: lsclithium.com
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance, including statements as to the ability of LSC to confirm prior historical exploration work conducted on Salinas Grandes, ability and anticipated timing to complete a NI 43-101 report on the Salar de Pozuelos, Salar de Pastos Grande, Salar de Rio Grande and on LSC’s Salar de Salinas Grandes tenements in the Salta Province, ability, timing and successful completion of the drill and exploration program at all the Company’s properties, LSC’s overall contained lithium inventory, ability to produce more results on the Company’s property, and the existence of extensive and open ended mineralization, ability and timing to complete seismic survey on Jama and commencement of CSAMT. The use of any of the words “could”, “anticipate”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on LSC's current belief or assumptions as to the outcome and timing of such future events. Whether actual results and developments will conform with LSC's expectations is subject to a number of risks and uncertainties including factors underlying management's assumptions, such as risks related to: title, permitting and regulatory risks; exploration and the establishment of any resources or reserves on the LSC properties; volatility in lithium prices and the market for lithium; exchange rate fluctuations; volatility in LSC’s share price; the requirement for significant additional funds for development that may not be available; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; regulatory, political or economic developments in Argentina or elsewhere; litigation; title, permit or license disputes related to interests on any of the properties in which the Company holds an interest; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the Company's properties; risks and hazards associated with the business of development and mining on any of the Company's properties. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and LSC is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. For more information, see the Company's filing statement on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange Inc. 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 TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
1 See LSC’s press release dated November 13, 2017.
2 See LSC’s press release dated April 10, 2017 for further details on the exploration target.
3 See LSC’s press release dated November 14, 2017.
4 See LSC’s press release dated December 11, 2017.
5 See technical report “Technical Report on Salinas Grandes Lithium Project” dated April 16, 2012, amended August 12, 2013 prepared for Orocobre Ltd. filed on Orocobre’s SEDAR profile (“Orocobre Report”).
6 Geotechnical Testing Journal, Vol. 34, No. 5. Paper available at www.astm.org.