LSC Lithium Files Technical Report for Rio Grande With NI-43-101 Inferred Mineral Resource 2,190,000 Tonnes LCE
April 02 2018 - 8:56AM
LSC Lithium Corporation (“
LSC” or
together with its subsidiaries, the “
Company”)
(TSX-V:LSC) is pleased to announce the filing of the Technical
Report titled “Technical Report on the Salar de Rio Grande Project,
Salta Province, Argentina” dated March 28, 2018 with an effective
date of February 15, 2018. The report contains the Mineral Resource
estimate on the Rio Grande Salar, one of the Company’s principal
projects located in Salta province, Argentina.
HIGHLIGHTS
- Rio Grande NI 43-101 Technical Report
filed
- Inferred NI 43-101 Mineral Resource of 2.19 million
tonnes LCE
- Lithium resource open at depth between 100m and
500m
- Drilling to test deeper zones to start
shortly
- Upgraded Mineral Resource to Measured and Indicated
categories planned
The Company’s President & CEO, Ian Stalker,
stated, “The filing of this Technical Report for LSC’s Rio Grande
Project marks yet another significant milestone in the development
of the Company’s mineral resource asset base with 2.19 million
tonnes of LCE, following the recent filing of the technical report
for our Pozuelos Project. We are very excited about the potential
to increase the mineral resource at Rio Grande and also to upgrade
the resource in the coming months with the commencement of the
planned seismic survey and mobilisation of the drill
equipment.”
This NI 43-101 Mineral Resource estimate
includes 2.19 million tonnes of lithium carbonate (Li2CO3)
equivalent (LCE) in the Inferred Resource category down to the
first 100m (see Table 1). The top 50m of the deposit amounts to
1,375.4 ktonnes grading at 338mg/l Li and the lower 50m to 100m
amounting for 814.6 ktonnes grading at 410mg/l Li.1 A previously
completed CS-AMT subsurface conductivity survey carried out on the
Rio Grande Salar indicates the potential for lithium bearing
formations to extend to depths in excess of 500m below surface.
Lithium grades tend to improve between 50m to 100m below surface
and this trend indicates potentially improved grades at depth.
Hains Engineering Company Limited located in
Toronto, Ontario, Canada was engaged to prepare an independent
Mineral Resource estimate for LSC’s Rio Grande Project and also to
prepare the Technical Report in accordance with National Instrument
43-101 - Standards and Disclosures for Mineral Projects.
Table 1 – Rio Grande Resource Statement as at
February 15, 2018 |
|
|
|
|
|
|
|
Classification and Zone |
Assay Value (mg/l) |
Total BrineVol (B
m3) |
RBRC1 (%) |
AvailableBrine
Vol (MM m3) |
Li Ktonnes(as
metal) |
LCE2(Ktonnes) |
Inferred |
Li |
Ca |
K |
Mg |
SO4 |
Top 50m, 5km radius of pump well |
338 |
3,570 |
6,170 |
1,320 |
29,100 |
4.170 |
13.5 |
563.049 |
190.3 |
1,013.0 |
Remaining area, top 50m |
338 |
3,570 |
6,170 |
1,320 |
29,100 |
2.898 |
6.95 |
201.432 |
68.1 |
362.4 |
Sub-total |
338 |
3,570 |
6,170 |
1,320 |
29,100 |
7,069 |
10.81 |
764,482 |
258.4 |
1,375.4 |
Lower 50m – 100m |
410 |
710 |
7,520 |
4,920 |
34,130 |
7.069 |
5.28 |
373.245 |
153.0 |
814.6 |
Total Inferred |
374 |
2,149 |
6,845 |
3,129 |
31,615 |
14.138 |
8.05 |
1,137.727 |
411.4 |
2,190.0 |
Notes: 1 Relative Brine Release Capacity.2 Li metal converted to
Lithium Carbonate Equivalent (LCE) using a factor of 5.323.3
Rounded down to nearest ‘000. Numbers may not add due to rounding.4
Resources estimated using CIM 2014 resource classification
definitions.5 A cut-off grade of 100mg/l of Li was applied. The
hydraulic parameters of the resource area suggest that it is
reasonable to expect brine extraction by a conventional production
wellfield at a commercially viable rate, while the geochemical
characteristics of the brine suggest that conventional processing
techniques may be employed to produce saleable lithium products in
an economically profitable manner. These processing techniques are
employed in lithium brine operations in Chile, the USA and China.6
Resources estimated by L. Fourie, P.Geo, Pr.Nat. Sci under
the direction of D. Hains, P. Geo.7 Resources which are not
Reserves do not have demonstrated economic value. There is no
guarantee that resources can be converted to reserves with
additional work.8 Calculated after application of RBRC factor.
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 floor
Toronto 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 potential for lithium bearing formations to extend to depths,
ability and timing to update the resource and timing for further
drilling. 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 15, 2018.
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