LSC Lithium Corporation (“
LSC” or together with
its subsidiaries, the “
Company”) (TSXV:LSC) is
pleased to announce encouraging progress on exploration and pump
testing for its Pozuelos-Pastos Project (“
PPG”).
The Company has engaged the internationally recognised engineering
consultancy company GHD Limited to undertake a preliminary economic
assessment (“
PEA”) on this combined PPG Project
due to be completed by end of Q4 2018.
HIGHLIGHTS
Pozuelos
- Three of the six planned pump tests have been completed
with grades of up to 731mg/l from well
SP-2017-10W1.
- 14.394 line km of seismic data
acquired along one survey line.
- Construction of access roads and drilling platforms
underway for exploration drilling in the north east of the
salar.
- Start of deep exploration drill hole PZ-18-01 in the
centre of the salar, currently 315.03m.
- Construction of the Pozuelos exploration camp to be
completed in August 2018. Camp will be converted to administration
offices during operations.
- Updated Mineral Resource expected in Q4
2018.
Pastos Grandes
- Significant progress achieved with drill hole PG-18-01
currently 541.4m. Average downhole grade of 491mg/l from surface to
474.62m depth.
- 15.372 line km of seismic data acquired along six
survey lines.
- Maiden Mineral Resource Estimate expected end of Q3
2018.
PPG Project
- Environmental Baseline Studies completed at both
salars.
- Ongoing PEA work for completion in Q4
2018.
LSC’s President and CEO Ian Stalker, noted, “The
PPG Project is now in full data acquisition phase to support the
PEA and the subsequent Prefeasibility Study. Furthermore, the
significant progress on the environmental baseline studies will
ensure that we can submit our Environmental Impact Statement to the
Regulator before year end. We remain on-track for a resource
announcement at Pastos Grandes at end of Q3 2018. It is also
important to note the added future operational flexibility
(blending, pumping options, etc.) and increased scalability of
production volumes this combined salar approach gives us at Pastos
Grandes and Pozuelos, as well as being much more environmentally
appropriate in having one, instead of two, footprints for an
operational plant.”
POZUELOS
Pump Test Progress
Pump tests at Pozuelos are proceeding as planned
with three of the planned six completed. Table 1 below summarises
the exploration well results.
|
TABLE 1 |
|
|
|
|
|
|
|
|
|
Hole ID |
Coordinates |
Lithology |
Screen Depth |
Pump Test |
Li grade |
Grade trend |
Ave Pump Rate |
Draw Down |
E |
N |
Tested |
From (m) |
To (m) |
Duration Hrs |
mg/l |
m3/hr |
m |
SP-2017-02W |
3416484 |
7270791 |
Halites |
11 |
66.5 |
48 |
388 |
Slight increase |
28.0 |
28.94 |
SP-2017-10W |
3413190 |
7265929 |
Clastics |
63 |
99 |
48 |
731 |
Constant |
40.0 |
7.80 |
SP-2017-14W |
3417966 |
7264929 |
Clastics |
9 |
51 |
48 |
358 |
Constant |
19.5 |
22.41 |
|
|
|
|
|
|
|
|
|
|
|
Longer term 7-day pump tests are planned to
confirm the aquifer yield and consistency of brine chemistry.
Results from the pump test campaign at Pozuelos will be used in the
development of a hydrological balance to support the Environmental
Impact Assessment, which is planned to be submitted before the end
of the year. Furthermore, pump test results will supply data for
the hydrodynamic model, which is the precursor to the estimation of
Mineral Reserves for the PFS, expected in Q3 2019.
Seismic Data
14.394 line km of seismic data was acquired in
the southern area of the salar during June 2018 along one survey
line. The results will be used in conjunction with previous seismic
data and with the pump tests and exploration hole results to update
the current Mineral Resource estimate, expected during Q4 2018.
Exploration Holes Progress
A civil works contractor has been commissioned
to undertake the building of access roads and drilling platforms
for the exploration holes in the north-east of the salar. Access
from current roads along the north west section of the salar to the
location of exploration holes PZ-18-02 and PZ-18-03 are progressing
as planned and the location of PZ-18-02 has been reached.
Construction of the drilling platform is to commence shortly, where
after core drilling is to commence.
Progress with exploration hole PZ-18-01 is on
track, with core samples being submitted to determine porosity
values. Hole PZ-18-01 is currently at 315.03m below collar and
progressing well.
Exploration Camp
In April 2018, LSC commenced the construction of
a 40 person exploration camp at the Pozuelos salar. The camp will
simplify future exploration logistics, support the construction and
operation of pilot ponds and has been designed to be expanded for
future mine operations. The camp is expected to be completed and
occupied in August 2018.
Once the PPG Project has progressed from
construction and production, it is intended that this camp will be
expanded and utilized for mine administration offices and as an
operational camp.
PASTOS GRANDES
Seismic Data
The acquisition of 15.372 line km of seismic
data was completed during May and June 2018. This data will be used
to support the maiden Mineral Resource estimate expected at the end
of Q3 2018.
Exploration Hole
Exploration hole PG-18-01 is currently at 541.4m
below collar and progressing well. Intersected lithogies are a
combination of evaporites and sediments, with brine intersected
throughout the complete drill hole. Average assay results over the
entirety of the drill hole is 491mg/l down to a depth of 474.62m
below collar.
The results of this hole will be used in the
Maiden Mineral Resource estimate at Pastos Grandes at the end of Q3
2018.
PRELIMINARY ECONOMIC
ASSESSMENT
Completion of Environmental Baseline Studies
LSC’s environmental team has completed the
biodiversity, soil, air, noise, water, archeological and social
baseline studies at both Pozuelos and Pastos Grandes. These are
important steps towards the completion of the Environmental Impact
Statement, which is planned for submission in Q4 2018, after
completion of hydrological balance model.
Kick-off of Preliminary Economic Assessment
In June 2018, LSC and its owner’s team
representatives attended the kick-off meeting of the PEA, hosted by
GHD in Santiago. The meeting was focussed on identifying means to
optimise process recovery, operating costs, capital costs and
implementation schedule.
To support this strategy, an initial lab test
work was completed to study the evolution of Pozuelos´ brine
chemistry and the results of this work were used to design and
calibrate a modelling tool that enables LSC to obtain a Mass
Balance and pre-analyze projections of different scenarios. This
supports trade-off studies against the defined base case for the
PEA. A second stage metallurgical test work program, including both
laboratory benchscale work and the construction of pilot ponds at
Pozuelos is being developed. This expected to launch in August
2018.
Qualified Person
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, review of drill
core photographs to verify lithology, review of certified assay
certificates against the assay data base and review of pump test
data. 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
major projects: Pozuelos and Pastos Grandes (PPG), Rio Grande and
Salinas Grandes. 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 Officer40 University Avenue, Suite 605,
TorontoON Canada M5J 1T1+416 306 8382Email:
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 expected completion of delivering a PEA for
the PPG Project, results and use of data from the pump test work on
Pozuelos, ability, timing and successful completion of the drill
program and seismic survey at the PPG Project, completion of access
roads and drilling platforms, timing of completing a mineral
resource statement on Pastos Grandes, expected timing for
submitting the Environmental Baseline Study, timing of construction
of the camp at Pozuelos, timing of completing engineering work on
the PPG Project, timing and expected completion of delivering a PFS
for the PPG Project, LSC’s overall contained lithium inventory, and
ability to produce more results on the Company’s 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: 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 Company’s Press Release dated June 6, 2018.
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