HIGHLIGHTS
LSC Lithium Corporation (“
LSC” or together with
its subsidiaries, the “
Company”) (TSXV:LSC) is
pleased to announce that the results for the recently completed
high resolution seismic refraction tomography survey carried out on
its Jama lithium project indicate that there could be significant
depth to the brine bearing formations on the project. The Jama
Salar is one of LSC’s five major development projects and forms
part of a joint venture in which LSC holds a 51% ownership and is
the operator. Although LSC’s focus is on developing its
Pozuelos-Pastos Grandes Project, LSC plans to drill exploration
holes in the second half of 2018 to investigate the potential of
Jama to host lithium bearing brines at depth.
The Company’s President and CEO, Ian Stalker,
commented, “It is very pleasing to note that Jama could host brine
bearing formations at 300m below surface. The originally
interpreted surface area of the salar of ~2,900ha is clearly
significantly larger than first thought.
It's equally positive to note that our drive
towards production from the Pozuelos-Pastos Grandes Project
currently expected in 2021 is demonstrated by the commencement of
membrane pilot plant test work on brines from this project - a
vital and important first step for LSC.”
This high resolution 39.27 line km seismic
refraction tomography survey was conducted over the Jama Salar area
and surrounding alluvial deposits located in the Jujuy province,
northern Argentina. The main survey objective was the
identification and detailed definition of brine bearing formations.
The survey was also intended to map stratigraphy indicated by
previously acquired CS-AMT data to be brine hosting which could
also contain lithium.
Interpretation of the results indicates the
potential for lithium bearing formations. Secondly, the results
also indicate the presence of salar lithologies extending below the
alluvial fan on the eastern side of the salar. The seismic lines
which traverse the alluvials indicate the development of salar type
lithologies extend east of the current end of lines. Mapping of the
surface expression of the alluvial fan and interpretation of the
eastern edge of the salar in this area suggests that a possible
additional 2,500ha of salar could be present below the alluvials.
LSC plans to drill exploration holes to collect and evaluate data
from the brine and the hosts.
LSC, as the operator of the JV company Cuper
S.A., maintains a good relationship and continues to work with the
surrounding communities to ensure a complete information process
and participation of the community throughout the development
program, in coordination with the relevant authorities in the
province of Jujuy.
Data Acquisition Parameters
The seismic field data was stored on hard disk
of the central recording station during the daily production. A
backup of the seismic field data was made on a Pendrive in SEG-2
format daily. The main recording parameters of the p-wave
refraction tomography survey are listed as follows:
- Geophone spacing: 6m
- Source spacing: 36m inline
- Outline Offsets: 90m, 180m, 360m, 648m (both ends)
- Geophone type: 14 Hz Geospace (single) geophones with
spike
- Spread layout: 96 active channels
- Seismic source: 150kg trailer mounted accelerated
dropweight
- Recording length: 250 – 1,000ms
- Sample rate: 0.25ms
UPDATE ON OPERATIONS
The Company continues to advance its main
projects, the Pozuelos-Pastos Grandes Project and Rio Grande with
the mobilization of personnel and equipment. The Company has also
commenced the planned seismic survey on Rio Grande. The
mobilization and construction of a new 40 person camp has started
for the Pozuelos-Pastos Grandes Project which will be built on site
at Pozuelos and is targeted for completion by the end of May,
2018.
Furthermore, testing of brines from Pozuelos and
Rio Grande is ongoing in order to understand the evolution of the
brines' chemistry and assess the suitability of various extraction
options. This will provide key input for an effective design and
implementation of the necessary field test works that LSC plans to
deploy this year.
LSC has also confirmed the employment of Paul
Kluge as Vice President, Projects and is assembling a strong
engineering team for the completion of a Preliminary Economic
Assessment (“PEA”) in its Pozuelos-Pastos Grandes
Project this year leading into a full Pre-Feasibility Study
(“PFS”) in early 2019. An Expression of Interest
request has been circulated to a selection of engineering companies
that will be followed by a Scope of Services for the PEA and
PFS.
LSC has recently confirmed the appointment of
Pacha, an experienced Salta based company, for the generation of
the Environmental Base Line study on the Pozuelos-Pastos Grandes
and Rio Grande Projects. The work has commenced under the
supervision of LSC's Environmental Coordinator and with the support
of LSC's CSR team.
LSC has also opened an office in San Antonio de
los Cobres, located at the core of the Puna region and located in
close proximity to the local communities with whom LSC is intensely
working. This emphasizes the commitment of LSC to the development
of the communities and improves the required process of information
dissemination to and participation by these communities.
LSC has also engaged Bay Street Communications
(“BSC”) to provide strategic investor relations
and capital markets communications services at a cost of CAD$3,500
per month. BSC is a private firm specializing in investor and
public relations and strategic communications, assisting companies
in achieving a full and fair valuation of their publicly traded
securities. Either party may terminate or amend the terms of the
engagement after six months upon 30 days written notice. To the
knowledge of LSC, BSC does not have any interest, directly or
indirectly, in the Company or its securities, or any right or
intent to acquire such an interest. The appointment of BSC is
subject to TSX Venture Exchange approval.
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 data underlying the information
contained in this press 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 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 interpretation of the seismic results, results of brine
testing, the likelihood of brine bearing formations existing at
significant depth, the overall size of the Jama Salar, timing and
ability to drill exploration holes in the future, timing and
ability to complete the camps at Pozuelos, timing of completing the
PEA, PFS and scope of services, and ongoing support from the
communities. 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.
It is important to note that the information
provided in this news release is preliminary in nature. There is no
certainty that a potential mine will be realized. A mine production
decision that is not based on a feasibility study demonstrating
economic and technical viability does not provide adequate
disclosure of the increased uncertainty and specific risks of
failure associated with such a production decision. While no
production decision has been made, there are inherent risks in
proceeding with the development of the project and the company’s
planning for the project and these include, gold price forecasts,
capital cost overruns, availability of skilled labor, environmental
compliance and restrictions, community matters, potential operating
cost estimates, mining costs, development costs, underground mining
and geotechnical risks, metal recoverability, milling costs, and
related matters.
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.
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