(Dallas, TX. – October 7, 2011) StockGuru Shines its Spotlight on Rodinia Lithium Inc. (TSX-V: RM)(OTCQX: RDNAF)(PINK SHEETS: RDNAF). The Company provided yesterday an update on progress at its Salar de Diablillos project (“Diablillos” or “Salar”) located in Salta Province, Argentina. The Company closed on October 6, 2011, at $0.167, trading in a fifty-two week range of $0.7362 – 0.142.
- First Pumping Tests Have Been Completed to Evaluate the Hydrogeological Parameters of Deep and Shallow Aquifers
- Horizontal Hydraulic Conductivity Values of Upper and Lower Sediments Are Estimated to Be 4 Meters Per Day (Total Transmissivity More Than 300 M2/Day); High Enough for Efficient Brine Extraction by a System of Pumping Wells
- Initial Interpretation of a Tracer Test Performed in the Deep Aquifer Shows an Average Effective Porosity of the Sediments of About 15%, Indicating a Higher Likelihood for Recovery of the Estimated In-Situ Lithium Brine Resource
- Effective Porosity Values Are in Line With Those Used in the Previously Released Recoverable Resource Estimate
- SRK Has Been Retained to Design & Supervise Ongoing Pumping Tests and to Complete the Preliminary Economic Assessment Which Is Expected in Q4 2011
Results for the first series of pumping and tracer tests performed at Diablillos have been processed, resulting in high transmissivity and effective porosity values. The estimated total transmissivity is more than 300 m2/day with horizontal hydraulic conductivity of about 4 m/day. The estimated effective porosity is 15%. These parameters translate to higher recovery rates per well and an overall higher recovery of the in-situ brine in the event of production.
William Randall, President & CEO of Rodinia, commented “The results of these pump tests are a resounding success for the company and an important step in confirming the productive potential of the Salar. The resultant high transmissivity and effective porosity values, as determined by these tests, confirm Diablillos’ very large recoverable resource, and allow us to estimate the well requirements for our upcoming Preliminary Economic Assessment, which we expect to be able to deliver in the fourth quarter of this year.”
The pumping test site consisted of two pumping wells and four monitoring wells. Pumping tests were performed for 18 hours and 72 hours, using tracer dye injected in an observation well within the lower sediments to monitor brine flow, and a cyclone to neutralize the effects of the gas dissolution from the brine.
SRK Consulting (“SRK”) was retained earlier this year to design and supervise the pumping tests as well as to complete the upcoming Preliminary Economic Assessment. SRK has a demonstrated record of accomplishment in undertaking independent assessments of mineral resources and mineral reserves, project evaluations and audits, technical reports and independent feasibility evaluations to bankable standards on behalf of exploration and mining companies and financial institutions worldwide. SRK has also worked with a large number of major international mining companies and their projects, providing mining industry consultancy service inputs. SRK is a leading international practice in due diligence, scoping, pre-feasibility and feasibility studies that employs seasoned specialists in each field of science, geology and engineering. They have extensive experience with in-situ recovery and brine extraction type projects around the world, including Argentina.
SRK’s team is led by Terry Braun and Dr. Vladimir Ugorets as Qualified Persons for the project. Dr. Ugorets has more than 32 years of professional experience in hydrogeology, developing and implementing groundwater flow and solute-transport models related to mine dewatering, groundwater contamination, and water resource development. Dr. Ugorets’ areas of expertise are in design and optimization of extraction-injection wellfields, development of conceptual and numerical groundwater flow and solute-transport models, and dewatering optimization for open-pit, underground and ISR mines.
The Project is supervised by Ray Spanjers, Rodinia’s Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company’s sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Rodinia’s Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada’s lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia’s Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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.
To view this StockGuru Spotlight, please visit: http://stockguru.com/category/latest-spotlights/
To get free alerts on this and other similar stocks, please register here:
What is the StockGuru Spotlight?
Many companies covered in The StockGuru Spotlight have positive increases in both volume and share price. While this is not true in all cases, StockGuru strives to cover companies in The StockGuru Spotlight that are worth of our readers’ attention.
StockGuru looks for potential break-out candidates in The StockGuru Spotlight. Many of these companies have had recent news and appear to be getting the attention of investors. StockGuru does not typically feature companies in The StockGuru Spotlight that are compensating StockGuru for this coverage. There are times when StockGuru covers a stock in The StockGuru Spotlight that had previously compensated Stockguru. Where that is the case, a proper disclosure is included below. StockGuru and its partners, employees and writers never hold shares, short positions, warrants or any other current position in a stock featured in The StockGuru Spotlight.
To feature a company in The StockGuru Spotlight please contact the Publisher at [email protected]. If our reader is a key person for a publicly traded company, StockGuru can consider that company for either a StockGuru Spotlight or a StockGuru Profile. Please contact the StockGuru Publisher John Pentony at this email address: [email protected].
Stockguru.com (“SG”) provides its members with the latest news, press releases, and trade alerts for all the companies highlighted on the site StockGuru.com. SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions. SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.Stockguru.com or mentioned herein.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected”, “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and SG undertakes no obligation to update such statements. StockGuru is occasionally compensated for coverage. When this is the case, SG clearly indicates this with a disclosure of all compensation received in the past and present. Additionally SG also discloses any anticipated compensation in the future. Compensation is typically in cash. Sometimes a company pays SG in restricted shares. Pentony Enterprise and its associated companies does not take free trading shares for any reason at anytime. StockGuru is not a registered investment adviser or a broker-dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
John Pentony, Publisher, Stockguru.com
Tel: +1 469 252 3031
e-mail: [email protected]