- High lithium grades recorded at LSC’s Salinas Grandes project
- Peak grade returned of 2,736 mg/l Li
- Results support the potential for a large scale, high-grade lithium operation in Salinas Grandes
- 80% of assay results returned grades above 500 mg/l Li, with 44% above 1,000 mg/l Li
- 43-101 revised Mineral Resource estimate to be released in the next few weeks
TORONTO, Jan. 17, 2018 (GLOBE NEWSWIRE) — LSC Lithium Corporation (“LSC” or together with its subsidiaries, the “Company”) (TSX-V:LSC) is pleased to announce that its surface sampling verification program designed to validate assay data used in the Orocobre Ltd. Mineral Resource1 estimate has been completed (See Map 1). A NI 43-101 Mineral Resource report will be issued by LSC within the next few weeks. The verification program supports the Company’s belief that the Salinas Grandes salar represents a high-grade and potentially large lithium in-brine opportunity for the Company.
Ian Stalker the Company’s CEO commented, “This verification program supports our view that Salinas Grandes has the potential to deliver a large and high-grade lithium in-brine deposit. We look forward to the revised resource estimate which is expected in the next few weeks. In addition, we have received excellent local community support for this work and we continue to be fully engaged with all stakeholders at all times.”
LSC’s ability to commence the verification program at Salinas Grandes resulted from ongoing engagement and consultation with local communities. The Company is committed to continue to engage with communities as it develops its exploration program.
The verification sampling program at Salinas Grandes was designed to both confirm surface pit sampling lithium assay results documented by ADY Resources Ltd. and Orocobre Ltd. (prior owners of the tenements) and auger hole lithium assay results from shallow auger holes drilled by Orocobre. Both the Orocobre and ADY data have been confirmed by LSC and a NI 43-101 Mineral Resource estimate is being prepared incorporating this data. This Mineral Resource estimate will encompass the consolidated LSC tenements on Salinas Grandes (which includes the Stella Marys and Mina Teresa tenements2) and represents a considerably larger area than the area of 116 km2 used for the Orocobre delineated Mineral Resource in 2013, as the revised resource area will include all ground within the Company’s tenement area and extend to the salar boundary in these blocks.
Of the 53 shallow pit samples taken, 80% of the samples of have returned grades in excess of 500 mg/l Li, 44% in excess of 1,000 mg/l Li and 13% over 1,500 mg/l Li. The peak value returned for this section of the sampling was 2,736 mg/l Li. In addition to the surface pit sampling, nine Orocobre auger holes drilled to depths varying between 2m and 12m were located and sampled using a 60cm long bailer. A sample was recovered at regular intervals down hole. The sample results were then averaged to give a single lithium value per hole. The results included 44% of the assays lying between 500 mg/l Li and 1,000 mg/l Li and 12% in excess of 1,000 mg/l Li peaking at 1,012 mg/l Li.
Sampling and QA/QC
Surface brine sampling tests involved collection of brine from auger holes using a bailer 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 a 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 Alex Stewart Laboratory Jujuy, Argentina by courier.
LSC has a well-developed QA/QC program. Brine assays are undertaken at Alex Stewart Argentina (“ASA”) S.A. in Jujuy, 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 a 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. Mr. Hains has verified all sampling, analytical and test data underlying the information contained in this press release by on-site inspection during brine sampling and review of certified assay certificates against the assay data base.
ABOUT LSC LITHIUM CORPORATION:
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 Corporation
President & Chief Executive Officer
Suite 3001, 1 Adelaide Street East
Toronto, Ontario M5C 2V9
(416) 304 9384
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 LSC’s Salar de Salinas Grandes, ability, timing and successful completion of the drill and exploration program at all the Company’s properties, the likelihood that the resource estimate will encompass consolidated LSC tenements of Salinas Grandes, the potential for a large lithium in-brine opportunity at Salinas Grandes, LSC’s overall contained lithium inventory, ability to produce more results on the Company’s property, ability to sustain local community support and engagement with all stakeholders at all times. 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 Salinas Grandes ; 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 Orocobre Ltd completed a NI 43-101 technical report with an inferred mineral resource estimate on its Salinas Grandes tenements in 2013. See Technical Report on the Salinas Grandes Lithium Project – April 16, 2012, amended August 12, 2013, prepared for Orocobre Ltd. and filed under Orocobre’s SEDAR profile.
2 See LSC Press Release dated November 6, 2017, November 20, 2017 and November 23, 2017.
An infographic accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3e90cebb-aeb9-49bf-90f7-0006abb8a5fb