LSC Lithium Announces Update on Its Rio Grande Project
TORONTO, Aug. 01, 2018 -- LSC Lithium Corporation (“LSC” or together with its subsidiaries, the “Company”) (TSXV:LSC) is pleased to announce that it has received completed and positive seismic tomography results from its Rio Grande project in Argentina’s Puna region.
HIGHLIGHTS
- Five seismic lines totalling 41.73 line km were completed, three lines orientated in N-S direction and two lines orientated in E-W direction.
- Wide spaced survey interpreted the previous expectations of depth extensions of the basin up to 500 m below the salar surface.
- Interpreted tomography results suggest the occurrence of lithologies suitable for the hosting of brine at depth.
- Deep targets identified for follow-up core drilling to sample brine and to determine the host lithologies’ porosity. Drilling to commence in the near-term.
- LSC controls 26,865 ha in the Rio Grande Salar covering 90% of the salar surface.
- Previously announced Inferred Mineral Resource of 2,190,000 tonnes LCE1 down to the first 100 m. The top 50 m amounting to 1,375,435 tonnes grading at 338mg/l Li and the lower 50 m to 100 m amounting to 814,582 tonnes grading at 410mg/l Li.
- Indications of an increasing lithium grade at depth.2
LSC’s President and CEO Ian Stalker, noted, “LSC is excited to announce these results from its Rio Grande project, one of LSC’s major development projects. These survey results underscore the previous CS-AMT results from Rio Grande and interprets the expected depth of the Rio Grande basin, as well as the occurrence of potential brine hosting lithologies at depth. Deep targets have been identified for follow up core drilling to sample the deeper brine targets and to determine the host lithologies’ porosity.
The depth extension of the Rio Grande basin now has the potential to significantly increase the Inferred Mineral Resource previously announced by LSC below the 100 m depth of the current Mineral Resource. Planning is already underway to start with the deep drilling as soon as possible to advance the Rio Grande project even further.”
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.
ABOUT LSC Lithium Corp.:
LSC Lithium has amassed a large portfolio of prospective lithium rich salars and is focused on developing its material projects: Pozuelos and Pastos Grandes Project, Rio Grande and Salinas Grandes. 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
40 University Avenue, Suite 605
Toronto ON, Canada M5J 1T1
(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 regarding the interpretation of the seismic results, increase of brine grade at depth, future drilling, ability to increase the mineral resource, and timing to complete deep drilling. The use of any of the words “could”, “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, including risks related to: title, permitting and regulatory risks; exploration and the establishment of any resources or reserves on the Rio Grande Project or other 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, the ability to the Company to raise funds to carry on its operations, the ability of the Company to advance its projects, future demand of lithium as a critical commodity, and the outcome of the closing of the Transaction. 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.
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The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.
1 See the technical report titled “Technical Report on the Salar de Rio Grande Project, Salta Province, Argentina” dated March 28, 2018 with an effective date of February 15, 2018 filed under the Company’s profile on www.sedar.com.
2 See the Company’s Press Release dated April 2, 2018.