HIGHLIGHTS
LSC Lithium Corporation (“
LSC” or
together with its subsidiaries, the “
Company”)
(TSXV:LSC) is pleased to announce the filing of the technical
report on the updated resource estimate (“
Resource
Estimate”) for its Pozuelos Project in Salta Province,
Argentina titled “Mineral Resource Estimate and Technical Report on
the Salar de Pozuelos Project, Salta Province, Argentina” dated
December 21, 2018 with an effective date of November 22, 2018.
Ian Stalker, President and CEO of the Company,
noted, “The filing of the updated Pozuelos Resource Estimate is
another significant milestone in the development of the PPG
Project. The updated Resource Estimate emphasises the potential of
the jointly developed Pozuelos-Pastos Grandes Project with the
impressive size of the Resource. The PPG Project now has a combined
Resource of 2,617,000 tonnes LCE in the Measured and Indicated
category and 938,500 tonnes LCE1 in the Inferred category which was
used in the PEA based on a target production rate of 20,000tpa
lithium carbonate. Our targeted 20,000tpa of lithium carbonate
production in 2021 may indeed be only the beginning for this
impressive inventory when we combine both salars.”
The Resource Estimate states, “Overall, the work
undertaken to date indicates that the salar de Pozuelos has a
significant, high quality brine resource and potential to be a
producer of lithium brine for lithium carbonate production. The
salar has high effective porosity and high lithium brine values
down to significant depth. Lithium values in the brine are
typically in excess of 400mg/l, with significant brine volumes
reporting lithium values greater than 500mg/l. The brine chemistry
is highly amenable to processing using a variety commercially
proven processes and (potentially) several new process
technologies.”
Hains Engineering Company Limited and Hains
Technology Associates located in Toronto, Ontario, Canada were
engaged to prepare an independent Mineral Resource Estimate for
LSC’s Pozuelos Project and also to prepare the technical report in
accordance with National Instrument 43-101 - Standards and
Disclosures for Mineral Projects. The Company is not basing its
production decision on a feasibility study of mineral
reserves demonstrating economic and technical viability.
Historically such project have a much higher risk of economic and
technical failure.
The updated NI 43-101 Mineral Resource Estimate
has increased the Measured and Indicated Resource to 1,678,000
tonnes of lithium carbonate (Li2CO3) equivalent
(“LCE”) and the Inferred Resource to 631,000
tonnes of LCE. This is an increase of 29% in the Measured and
Indicated Resource category and 27% in the Inferred Resource
category compared to the previous Resource Estimate dated February
28, 20182. The average grades from the salar have also
increased by 30% in the Measured and Indicated category from
387mg/l to 505mg/l and by 52% in the Inferred category from 340mg/l
to 518mg/l.
The Resource Estimate previously announced on
February 28, 2018 for Pozuelos included 1,296,000 tonnes of LCE in
the Measured and Indicated Mineral Resource category with average
grade of 387mg/l Li and 497,000 tonnes in the Inferred Mineral
Resource category with average grade of 340mg/l Li2.
Updated Pozuelos Resource
The updated Mineral Resource Estimate for
Pozuelos is detailed in Table 1.
Table 1: Resource Estimate Summary, Salar
de PozuelosNovember 22, 2018
Classification |
Brine Vol1(‘000
m3) |
RBRC2(%) |
Brine Assay
Values3(mg/L) |
Contained
Li(tonnes) |
LCE9(tonnes) |
Li |
Ca |
Mg |
K |
SO42- |
Measured |
4,713,466.09 |
8.41 |
470 |
1757 |
2652 |
4143 |
6570 |
180,000 |
958,000 |
Indicated |
4,259,737.29 |
5.84 |
544 |
1054 |
3216 |
2761 |
11359 |
135,155 |
719,500 |
|
Measured & Indicated |
8,973,203.38 |
7.19 |
505 |
1423 |
2920 |
3487 |
8843 |
315,155 |
1,678,000 |
KEY RATIOS |
Measured and
Indicated |
Mg/Li |
Ca/SO4 |
K/Li |
SO4/Li |
Li/Ca |
K/Mg |
5.78 |
0.16 |
6.91 |
17.52 |
0.35 |
1.19 |
|
|
|
|
|
|
|
|
|
|
Classification |
Brine Vol1(‘000
m3) |
RBRC2(%) |
Brine Assay
Values3(mg/L) |
Contained
Li(tonnes) |
LCE9(tonnes) |
Li |
Ca |
Mg |
K |
SO42- |
Inferred |
4,936,541.30 |
4.64 |
518 |
1170 |
2948 |
2240 |
8771 |
118,603 |
631,000 |
KEY RATIOS |
|
Mg/Li |
Ca/SO4 |
K/Li |
SO4/Li |
Li/Ca |
K/Mg |
4.82 |
0.13 |
4.32 |
16.82 |
0.44 |
0.76 |
|
|
|
|
|
|
|
|
|
|
Notes:
- Brine volumes are before
application of Relative Brine Release Capacity
(“RBRC”) factor.
- RBRC value is the weighted average
for the Resource classification category.
- Resources have been classified in
accordance with CIM Mineral Resource definitions, May 25, 2014.
Assay values have been rounded to nearest whole number.
- Resources have been estimated by
Louis Fourie, P. Geo., Pr.Nat. Sci., under the direction of D.
Hains, P. Geo.
- The effective date of this Mineral
Resource Estimate is November 22, 2018.
- Resources have been estimated using
a cut-off grade of 330mg/l lithium.
- Mineral Resources which are not
Mineral Reserves do not have demonstrated economic value. There is
no assurance that additional exploration will result in the
conversion of Mineral Resources to Mineral Reserves.
- Inferred Mineral Resources are
considered as too speculative to have economic criteria applied to
them. There is no assurance that additional exploration will
result in the conversion of Inferred Mineral Resources to Indicated
or Measured Mineral Resources.
- A conversion factor of 5.323 has
been used to convert Li metal to Lithium Carbonate Equivalent
(LCE). Totals for M&I and Inferred Resources have been
rounded.
The Company has filed the technical report on
SEDAR (www.sedar.com) and is also available on the Company website
(www.lsclithium.com).
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.
ABOUT LSC LITHIUM
CORPORATION:
LSC Lithium has amassed a large portfolio of
prospective lithium rich salars and is focused on
developing its material projects: Pozuelos and Pastos Grandes
Project, Rio Grande Project and Salinas Grandes Project. 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 Stalker, President & Chief
Executive Officer 40 University Avenue, Suite 605 Toronto, ON
Canada M5J 1T1 +416 306 8380 Email: info@lsclithium.com
Web: 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 PEA study for the
Pozuelos-Pastos Grandes Project, ability and likelihood of using
combined resource of PPG in the PEA, timing of production and
likelihood of producing in 2021, likelihood of meeting target
production rate at PPG, ability and results of combining inventory
from PPG, 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 the Technical Report titled “Technical
Report on Pastos Grandes Lithium Project” with an effective date of
October 19, 2018 filed on the Company’s SEDAR profile. This
Measured and Indicated figure is comprised of 1,678,000 tonnes LCE
from Pozuelos with average grade of 505mg/l Li and 939,080 tonnes
LCE from Pastos Grandes with average grade of 464mg/l Li. This
Inferred figure is comprised of 631,000 tonnes LCE from Pozuelos
with average grade of 518 mg/l Li and 307,500 tonnes from Pastos
Grandes with average grade of 467mg/l Li. Numbers have been rounded
and may not add.2 See the Technical Report titled “Mineral Resource
Estimate & Technical Report on the Salar de Pozuelos Project,
Salta Province, Argentina” with an effective date of February 28,
2018 filed on the Company’s SEDAR profile.
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