LSC Lithium Files Technical Report With Mineral Resource measured and Indicated of 1,296,000 Tonnes LCE and Inferred 497,000 ...
March 05 2018 - 6:30AM
LSC Lithium Corporation (“
LSC” or
together with its subsidiaries, the “
Company”)
(TSXV:LSC) is pleased to announce the filing of 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 that contains the Mineral
Resource estimate on its Pozuelos Project, located in the Argentina
section of the Lithium Triangle.
The Company’s President & CEO Ian Stalker
stated, “The filing of this Technical Report for LSC’s Pozuelos
Project marks a significant milestone in the development of the
Company’s mineral resource asset base and furthermore allows the
project to move forward to the planned Preliminary Economic
Assessment study later this year.”
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 NI 43-101 Mineral Resource estimate on the
Pozuelos Project dated February 2, 20181 has now been superseded
due to results from a 28.92-line km seismic survey conducted on the
project having been received and incorporated into the resource
model. This has allowed for the mapping of the basement contact of
the salar and for the inclusion of volume between the base of the
drill holes and the basement contact to be included in the resource
calculation.2
The Technical Report 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 is of the mature halite type and has a high effective
porosity down to significant depth. The brine chemistry is of
excellent chemistry, making it amenable to processing using a
variety of commercially proven processes and (potentially) several
new technologies.”
This NI 43-101 Mineral Resource estimate
includes 1,296,000 tonnes of lithium carbonate (Li2CO3) equivalent
(LCE) in the Measured and Indicated Mineral Resource category and
497,000 tonnes in the Inferred Mineral Resource category (see Table
1).
Table 1 – Resource Estimate Summary, Salar De
Pozuelos Project |
February 28, 2018 |
|
|
|
|
|
|
Classification |
Brine Vol.1‘000
m3 |
RBRC2% |
Brine Assay Values (mg/L) |
Contained Li tonnes |
LCE9tonnes |
Li |
Ca |
Mg |
K |
SO4 |
Measured |
4,412,283.95 |
12.34 |
371 |
1,666 |
2,053 |
3,164 |
5,125 |
202,325.6 |
1,076,979 |
Indicated |
1,324,466.25 |
6.40 |
486 |
1,373 |
2,621 |
4,318 |
8,671 |
41,210.8 |
219,365 |
|
Measured & Indicated |
5,736,750.20 |
10.97 |
387 |
1,627 |
2,129 |
3,319 |
5,602 |
243,536.4 |
1,296,000 |
Key Ratios |
|
Mg/Li |
Ca/SO4 |
K/Li |
SO4/Li |
Li/Ca |
K/Mg |
5.50 |
0.25 |
11.16 |
14.48 |
0.24 |
1.56 |
Classification |
Brine Vol.1‘000
m3 |
RBRC2% |
Brine Assay Values (mg/L) |
Contained
Litonnes |
LCE9tonnes |
Li |
Ca |
Mg |
K |
SO4 |
Inferred |
7,663,141.31 |
3.58 |
340 |
757 |
1373 |
1894 |
3824 |
93360.7 |
497,000 |
Key Ratios |
|
Mg/Li |
Ca/SO4 |
K/Li |
SO4/Li |
Li/Ca |
K/Mg |
4.04 |
0.20 |
5.57 |
11.25 |
0.45 |
1.38 |
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.
- 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
February 28, 2018.
- Resources have been estimated using a cut-off grade of 100 mg/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 to nearest thousand.
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
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.
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 timing and completion of its preliminary economic
assessment for Pozuelos, 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 Company’s press release dated February
2, 2018.2 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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