LSC Lithium Corporation (“
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).
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 Limited5
- 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
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 Ian StalkerPresident
& Chief Executive OfficerSuite 3001, 1 Adelaide Street East
Toronto, Ontario M5C 2V9(416) 304 9384Email:
info@lsclithium.comWeb: 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.
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