HIGHLIGHTS
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 Ian StalkerPresident
& Chief Executive OfficerSuite 3001, 1 Adelaide Street East
Toronto, Ontario M5C 2V9(416) 304 9384 Email:
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 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
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