Wide Spread Lithium Mineralisation Confirmed On LSC’s 18,000 ha, 500+ m Deep Salar de Rio Grande
24 January 2018 - 11:30PM
HIGHLIGHTS
LSC Lithium Corporation (“
LSC” or together with
its subsidiaries, the “
Company”) (TSXV:LSC) is
pleased to announce drill results from its Rio Grande lithium in
brine project located in the Argentinian section of the Lithium
Triangle. These verification program results verify and support
historic drill hole results which established wide spread lithium
mineralisation over the 18,000 ha salar surface.
The Company’s CEO Ian Stalker commented “This
eight hole verification program intersects extensive lithium
mineralisation on this large 18,000 ha salar surface. Furthermore,
recently announced CS-AMT results indicate that the mineralisation
drilled could extend to in excess of 500m below surface in two
depositional centers of the salar in the north and center
respectively. We intend to test these deeper targets as part of the
2018 Mineral Resource upgrade program.”
The aim of the eight hole drill program was to
verify the historical results reported for 33 holes drilled across
the salar by ADY Resources Ltd. (“ADY”). These
results, including those reported by LSC, will be utilised in the
NI 43-101 Mineral Resource estimate which is planned for issue by
the end of February 2018. The ADY drill holes were all terminated
at approximately 50m below surface. A decision to extend the LSC
drill holes to a planned 100m was made to test potential high-grade
lithium mineralisation at depth. This has proved successful as
lithium mineralisation down hole trends tend to increase in grade
at depth.
Drilling was carried out utilising a wireline
triple tube core barrel system recovering HQ size core for
geological logging and Relative Brine Release Capacity (RBRC)
analysis. While drilling in the center of the salar in proximity to
drill holes SRG-2017-22T and SRG-2017-18T, unconsolidated volcanic
derived sands were encountered which prevented both holes drilling
to the planned depth of 100m below surface, reaching 60m and 84.5m
respectively. In some cases it was deemed necessary to repeat some
of the drill holes in the top 20m to 50m below surface where either
the packer equipment was inoperable or brine recoveries where
negative with corresponding historical ADY data indicating positive
brine samples at the particular down hole elevation. The packer
sampling in the eight LSC twin holes was designed to replicate the
intervals within the ADY drill holes and this was achieved to an
acceptable level.
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Table 1: Verification Diamond Drill Program
Summary – Salar de Rio Grande |
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Hole |
POSGAR 94 DATUM |
Elevation (Z) |
Depth (m) |
Azimuth |
Dip |
Method |
Bit Size |
East (X) |
North (Y) |
SRG-2017-35T |
2587211.0 |
7230569.0 |
3701.89 |
100.0 |
0 |
90 |
DDH |
HQ |
SRG-2017-07T |
2582718.0 |
7229102.0 |
3701.57 |
100.0 |
0 |
90 |
DDH |
HQ |
SRG-2017-01T |
2586170.0 |
7234917.0 |
3701.92 |
100.0 |
0 |
90 |
DDH |
HQ |
SRG-2017-22T |
2583870.0 |
7223137.0 |
3704.78 |
60.0 |
0 |
90 |
DDH |
HQ |
SRG-2017-27T |
2585891.0 |
7221137.0 |
TBA |
100.0 |
0 |
90 |
DDH |
HQ |
SRG-2017-24T |
2587912.0 |
7223137.0 |
3705.20 |
100.0 |
0 |
90 |
DDH |
HQ |
SRG-2017-32T |
2588923.0 |
7219137.0 |
3705.65 |
100.0 |
0 |
90 |
DDH |
HQ |
SRG-2017-18T |
2584880.0 |
7225137.0 |
3702.99 |
84.5 |
0 |
90 |
DDH |
HQ |
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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 Alex Stewart
Argentina (“ASA”) S.A. Laboratory in Jujuy,
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 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
and ADY. 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 Officer151 Yonge Street, 11th floorToronto
ON, Canada M5C 2W7(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 Salar de Rio Grande, ability and anticipated
timing to complete a NI 43-101 report on the Salar de Rio Grande,
extension of lithium to depth, ability and timing of testing deeper
targets, and the ability to include drill results in NI 43-101. 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 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.
A map accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/64c1c26e-e7f6-44cd-8817-29f7d0368fae
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