TORONTO, Jan. 14, 2019 /CNW/ - Namibian lithium
developer Desert Lion Energy Inc. (TSXV: DLI) (OTCQB: DSLEF)
("Desert Lion" or the "Company") has initiated the
Company's 2019 exploration and development program. The program
will focus on increasing and optimizing existing Mineral Resources
Estimates ("MRE") and advancement of the mine, concentrator
and lithium conversion plant in Walvis Bay.
Following the completion of the financing announced on
December 4, 2018, the Company is
progressing with the next phase of exploration and development work
to advance the Desert Lion Energy Lithium project.
The next phase of exploration and evaluation work will focus on
increasing the existing MRE as well as the confidence therein, as
well continuing with grassroots exploration over the Company's
EPL's. The following activities are planned for the first half of
2019.
Rubicon
- Completion of an underground survey and drilling in order to
incorporate Foot Wall lepidolite mineralization excluded from the
current MRE
- Completion of surface infill drilling in order to improve
confidence in the MRE to Indicated and Measured Categories
- Sampling and relogging of Hanging Wall pegmatite to improve
confidence in the geological model and to potentially increase
Mineral Resources
- Completion of a Geotechnical Evaluation to optimize existing
Preliminary Economic Assessment ("PEA") pit outlines and to
optimize the Mine Plan.
- Additional mineralogical work to support the geological model,
MRE and Mine Plan
Helikon 1-5
- Completion of surface infill drilling in order to improve
confidence in the MRE to Indicated and Measured Categories
- Completion of a Geotechnical Evaluation to optimize existing
PEA pit outlines and to optimize the Mine Plan.
- Additional mineralogical work to support the geological model,
MRE and Mine Plan
Following completion of the infill drilling programs, the
Company will be updating the Mineral Resource Estimate, with
results anticipated in Q3 2019.
EPL Scale Exploration
Commencement of follow up work
over the structural targets generated in 2017 will continue in 2019
and will comprise of detailed soil geochemical surveys over
prioritized targets and follow up mapping and sampling of LCT
pegmatites discovered in 2017. The objective of the program is to
generate drill ready targets for the second half 2019.
Concurrent with the exploration program, the Company has engaged
Karl Neumayer Civil Contractors (Pty) Limited ("KNeumayer")
to assist the Company to update aspects of the PEA to include:
- Optimizing the PEA pit shell design and current mine plan and
guided by work completed during the exploration and geotechnical
programs
- Trade-off analysis for various throughput and production
scenarios
- Site selection analysis for lithium conversion? plant in Walvis
Bay, Namibia
The results of the study are expected to be published in late Q2
2019.
About Desert Lion Energy
Desert Lion Energy is an
emerging lithium development company focused on building
Namibia's first large-scale
lithium mine to be located approximately 210 km from the nation's
capital of Windhoek and 220 km
from the Port of Walvis Bay. The Company's Rubicon and Helikon
mines are located within a 301 km2 prospective land
package, with known lithium bearing pegmatitic mineralization and
the Company is currently in Phase 1 of its production plan,
producing and exporting lithium concentrate from stockpiled
material. The project site is accessible year-round by road and has
access to power, water, rail, port, airport and communication
infrastructure.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws. Generally, any
statements that are not historical facts may contain
forward-looking information, and forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget"
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or indicates that certain actions, events or results
"may", "could", "would", "might" or "will be" taken, "occur" or "be
achieved." Forward-looking information is based on certain factors
and assumptions management believes to be reasonable at the
time such statements are made, including but not limited to,
continued exploration activities, lithium and other metal prices,
the estimation of initial and sustaining capital requirements, the
estimation of labour and production costs, the estimation of
mineral reserves and resources, assumptions with respect to
currency fluctuations, the timing and amount of future exploration
and development expenditures, receipt of required regulatory
approvals, the availability of necessary financing for the Project,
permitting and such other assumptions and factors as set out
herein.
Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied
by such forward-looking information, including but not limited to:
risks related to changes in lithium prices; sources and cost of
power and water for the Project; the estimation of initial capital
requirements; the lack of historical operations; the estimation of
labour and operating costs; general global markets and economic
conditions; risks associated with exploration, development and
operations of mineral deposits; the estimation of initial targeted
mineral resource tonnage and grade for the Project; risks
associated with uninsurable risks arising during the course of
exploration, development and production; risks associated with the
estimation of targeted production tonnages from Phase 1 operations;
risks associated with currency fluctuations; environmental risks;
competition faced in securing experienced personnel; access to
adequate infrastructure to support exploration activities; risks
associated with changes in the mining regulatory regime governing
the Company and the Project; completion of the environmental
assessment process; risks related to regulatory and permitting
delays; risks related to potential conflicts of interest; the
reliance on key personnel; financing, capitalization and liquidity
risks including the risk that the financing necessary to fund
continued exploration and development activities at the Project may
not be available on satisfactory terms, or at all; the risk of
potential dilution through the issuance of additional common shares
of the Company; the risk of litigation.
Although the Company has attempted to identify important
factors that cause results not to be as anticipated, estimated or
intended, there can be no assurance that such forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance
on forward-looking information. Forward-looking information is made
as of the date of this presentation and the Company does not
undertake to update or revise any forward-looking information this
is included herein, except in accordance with applicable securities
laws.
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SOURCE Desert Lion Energy