HIGHLIGHTS
LSC Lithium Corporation (“
LSC” or
together with its subsidiaries, the “
Company”)
(TSXV:LSC) is pleased to announce the issue of its maiden Mineral
Resource statement for its Pozuelos lithium project, located in the
Argentina section of the Lithium Triangle. This NI 43-101 Mineral
Resource estimate includes 1,296,344 tonnes of lithium carbonate
(Li2CO3) equivalent (LCE) in the Measured and Indicated Mineral
Resource category and 312,942 tonnes in the Inferred Mineral
Resource category (See Table 1). Key chemical ratios illustrating
the high quality of the brine at salar de Pozuelos are detailed in
Table 2. The phreatic level of the brine is within 1m of the
existing halite surface and there may be additional potential below
the current limit of drilling for those holes which did not reach
the basement.
The Company’s President & CEO Ian Stalker
remarked, “we are extremely pleased with this NI 43-101 resource
estimate of 1.3 million tonnes measured and indicated LCE and
312,942 tonnes inferred which forms part of LSC’s resource
inventory development over five different projects in the near to
medium term including, Pastos Grandes located just 17km away from
Pozuelos, Rio Grande, Salinas Grandes and Jama, all of which are
being advanced through various stages of exploration and resource
development. Pozuelos is planned to go to Pre-feasibility study
stage during the second half of 2018 and this robust resource
estimate underpins this process.”
Table 1 – Pozuelos Resource Statement as
at January 31, 2018
Mineral Resource |
Brine Vol |
Avg Li |
In situ Li |
LCE2 |
Avg Ca |
Avg Mg |
Avg K |
Avg SO4 |
Category1 |
(1000m3) |
(mg/l) |
(tonnes) |
(tonnes) |
(mg/l) |
(mg/l) |
(mg/l) |
(mg/l) |
Measured |
544,496 |
372 |
202,326 |
1,076,979 |
1,667 |
2,053 |
3,164 |
5,125 |
Indicated |
84,741 |
486 |
41,211 |
219,364 |
1,373 |
2,621 |
4,318 |
8,671 |
Measured & Indicated |
629,237 |
387 |
243,536 |
1,296,344 |
1,627 |
2,129 |
3,319 |
5,602 |
Inferred |
181,833 |
323 |
58,790 |
312,942 |
644 |
1,215 |
1,719 |
3,549 |
Figures are rounded |
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|
1 Mineral resources are not mineral reserves and do not
indicate economic viability. |
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|
2 LCE (Li2CO3) equivalent. |
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Table 2 – Key Chemical
Ratios
Mineral Resource Category |
Mg:Li |
Ca:SO4 |
K:Li |
SO4:Li |
Ca:Li |
Measured & Indicated |
5.5 |
0.29 |
8.58 |
14.48 |
4.20 |
Inferred |
3.76 |
0.18 |
5.32 |
10.99 |
1.99 |
Phase 1 Exploration Program
The Phase 1 exploration program included 13
resource delineation drill holes amounting to 1,789m and 2 pump
test wells with associated piezometers. The resource delineation
drill holes were spaced at approximately 1.0km to 1.5km east/west
and approximately 2.0km north/south. Drill cores were recovered at
HQ size via a triple tube core barrel wireline system. The depths
of holes varied from between 58.1m in drill hole SP-2017-11 to
322.27m in drill hole DDH-400.
The Mineral Resource estimate includes assay
data sourced from brine packer samples acquired from lithologically
selected locations down hole, specific yield (Sy) data from
Relative Brine Release Capacity (RBRC) analyses and assay data from
pump test wells.
Mineral Resource Estimation Methodology
Resources were estimated using a polygonal
method. Polygons were created in ARCGis by centering the polygon on
each drill hole and clipping to the salar perimeter or the
adjoining polygon. The base of each polygon was cut at the limit of
the drill hole data for the respective polygon or the interpreted
base of productive lithology based on the available seismic data.
Polygons volumes were calculated in ARCGis. The volume in each
polygon was further calculated based on the thickness of the
respective lithological units within each polygon.
Lithologies were determined based on analysis of
drill logs and drill core photos and extended across each polygon.
Five major lithologies were defined:
FHL |
Highly Fractured Halite |
MFH |
Moderately Fractured Halite |
MCH |
Moderately Compact Halite |
PCH |
Porous Compact Halite |
CSC |
Clay
Supported Clastics |
RBRC data, a proxy for Sy was determined from
core samples for each lithology. The Sy value for the FHL lithology
was determined from pumping tests for two 15m deep wells located
within polygons representing holes SP-2017-02 and SP-DDH400. Pump
test data was analyzed using Infinite Extent software and the
Neuman type curves to derive an average value of 31.25% for the
upper 15m in the salar.
Brine resources were calculated by lithology for
each polygon by multiplying the volume of each lithological unit in
the respective polygon by the average RBRC value for the respective
lithological unit in the polygon. Estimated grades by polygon and
lithological unit were calculated by applying the drill hole assay
data for the respective polygon and lithological unit to the
calculated brine volumes. Contained lithium metal in each polygon
and lithological unit was converted to LCE using a conversion
factor of 5.323.
Resources were classified as Measured, Indicated
or Inferred based on the number of sample points within the
respective polygons and lithological units. In general, resources
within the upper 15m of the salar were classified as Measured, and
those resources between 15m and 50m classified as Indicated.
Resources found below approximately 50m depth were classified as
either Indicated or Inferred, based on the density of sample data.
Resources in polygons where only surface sample data were available
were classified as Inferred to a depth of 50 m and assigned a Sy
value of 2.57 for the full interval. Those resources within
polygonal lithological units lying below the lower limit of the
assay data but containing RBRC data were also classified as
Inferred. Where RBRC data was available but no assay data was
available for the respective interval and lithology, assay data was
assigned based on the average for similar lithology and interval
from adjacent holes. In such cases, the estimated resources were
classified as either Indicated or Inferred, based on the number of
sample points.
Estimated resources were summed by
classification and lithology to derive totals and average
grades.
Previous Exploration
Prior to LSC acquiring the project, exploration
work included surface sampling, geophysics, diamond core drilling
and well drilling/pumping tests. The geophysical program included
Vertical Electrical Sounding (VES) and Magnetotelluric (MT) methods
to determine the presence and distribution of aquifer zones and the
shape of the salar basin. The MT data were used to complement the
VES data to provide a 2D interpretation of the salar structure.
Drilling activity by LitheA Inc. included two RC wells,
12.75” outside diameter, SPZ001 (90.8 m), SPZ002, (79.8 m). One
piezometer hole SPZ001P (20 m) and the drilling of diamond drill
hole SPZDD001 (183.5 m) were also completed. Pumping tests on the
salar based on pumping from holes SPZ001 and SPZ002.2
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
Laboratory in Jujuy, Argentina. 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 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-litre) from
each of the holes from which the samples were collected was also
shipped to Daniel B. Stephens & Associates Inc.
("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 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 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.
A Technical Report prepared under the guidelines
of NI 43-101 standards describing the resource estimation will be
filed on SEDAR within 45 days of this release.
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 floor
Toronto 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 timing and completion of its pre-feasibility study for
Pozuelos and Pastos Grandes, additional potential below the current
limit of drilling at Pozuelos, ability and timing of advancing
LSC’s properties through various stages of exploration and resource
development, and any other matters relating to the exploration and
development of Pozuelos and LSC’s other properties. 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: drill program results;
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.
_______________________1 See “Measured, Indicated and Inferred
Lithium and Potassium Resource Estimate Pastos Grandes Project
Salta Province, Argentina” dated January 2, 2018 with effective
date December 22, 2017 prepared for Millennial Lithium Corp. and
filed under Millennial Lithium Corp’s SEDAR profile. The
mineralization on the Millennial tenements may not be
representative of the potential mineralization on the LSC
tenements.
2 See "Technical Report on the Salar de Pozuelos Project, Salta
Province, Argentina" dated June 29, 2017 with an effective date of
December 31, 2016 prepared for the Company and filed on the
Company’s SEDAR profile.
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