LSC Lithium Corporation (“
LSC” or together with
its subsidiaries, the “
Company”) (TSXV:LSC) is
pleased to announce that it has received very encouraging pump test
results which form part of the advanced project development work
being conducted on the Pozuelos section of its Pozuelos-Pastos
Grandes Project (“
PPG
Project”).
HIGHLIGHTS
- Constant pump rate achieved at 40m3/hr in well
SP-2017-10W
- Average grade of 731mg/l Li achieved over a 48 hour
period in well SP-2017-10W
- Confirmation of high porosity and brine yield in
clastic sediments in southwest quadrant
- The Pozuelos high grade nucleus area is extended to the
southwest of the Salar
- Intermediate halite zones in wells SP-2017-02W and
SP-2017-14W continue to demonstrate productive well capability with
consistent brine grades
- Complementary brine chemistry between Pozuelos and
Pastos Grandes provides process optimization
opportunities
- Work on PEA/PFS on PPG Project rapidly advancing with
completion of PEA expected in Q4/2018
LSC’s President and CEO Ian Stalker, noted, “We
are delighted with this second set of pump test results on the
Project as they indicate sustainable pumping rates with higher
grades than indicated on our earlier NI 43-101 Resource
Statement. The on-going exploration program on site remains on
track to deliver the upgraded NI 43-101 Mineral Resource on the
Pozuelos section and the maiden NI 43-101 Mineral Resource on the
Pastos Grandes section of the Project later this year. It is also
pleasing to note the development phase of the PPG Project is now
under way with the Preliminary Economic Assessment due to be
completed by the end of this year.”
Pozuelos Section – Pump Test Results
This pump test program was completed over a ten
day period commencing March 20, 2018 and included pump test wells:
SP-2017-02W, SP-2017-10W and SP-2017-14W (see Table 1). Wells were
placed in close proximity (~<10m) to the comparable diamond
drill hole to enable comparison of well performance versus
lithology. The wells were subject to step tests designed to stress
the aquifer and establish a suitable pumping rate and then a
constant rate pump test over a 48 hour period. All test wells
recorded very short recovery periods. All holes were cased off with
blind and screen casing where required and the casing/hole side
wall annuli were gravel packed for the entire length of each hole.
Two piezometer holes were drilled on a 90 degree pattern at
approximately 5m and 10m from each pump test hole and cased off
with 4” screen casing. A submersible pump was utilized with a
maximum pump rate of 45m3/hr. Brine testing was completed on an
hourly basis throughout the pump test period to establish the
possible variability of the brine chemistry throughout the test
period.
|
TABLE 1 |
|
Hole ID |
Coordinates |
Lithology Tested |
AverageRBRC1 |
Screen Depth |
PumpTestDuration(hrs) |
AvgPumpRatem3/hr |
DrawDown(m) |
E |
N |
From(m) |
To (m) |
SP-2017-02W |
3416484 |
7270791 |
Moderately CompactHalite |
3.5 (12.70m– 56.75m) |
11 |
66.5 |
48 |
28.0 |
28.94 |
SP-2017-10W |
3413190 |
7265929 |
Clastics |
No data |
63 |
99 |
48 |
40.0 |
7.80 |
SP-2017-14W |
3417966 |
7264929 |
Moderately CompactHalite |
4.82 (8.22m– 50.50m) |
9 |
51 |
48 |
19.5 |
19.90 |
1) RBRC = Relative Brine Release Capacity, a measure of
Specific Yield |
|
Well SP-2017-02W is located in
the northwest quadrant of the salar. The well was drilled utilizing
a tricone system to 68m at a diameter of 12”. The well was cased
with steel screen casing from 11m to 66.5m at 8” to test the halite
horizon. The static level of brine in the pump well recorded was
0.135m while the levels in the piezometers were recorded at 0.34m
in the Pz5m hole and 0.83cm in the Pz10m. The steady state pumping
rate achieved for the 48 hour pump period was 28m3 /hr with a
corresponding average draw down 28.94m. The dynamic levels
recorded in the piezometer holes for SPz5 and SPz10 were 3.15m and
1m respectively. The average lithium grade recorded for the 48
hours was 388mg/l Li.
Well SP-2017-10W is located in
the southwest quadrant of the salar. The well was drilled utilizing
a tricone system to 100m at a diameter of 12”. The well was cased
with steel screen casing from 63m to 99m at 8” to test the clastic
horizon developed from 66.6m to the end of hole. The static level
of brine in the pump well recorded was 1.51m while the levels in
the piezometers were recorded at 1.20m in the Pz5m hole and 0.18m
in the Pz10m. The steady state pumping rate achieved for the 48
hour pump test period was 40m3/hr with a corresponding average draw
down ~7.80m. The dynamic levels recorded in the piezometer
holes for SPz5 and SPz10 were 7.20m and 2.06m respectively. The
average lithium grade recorded for the 48 hours was 731mg/l Li.
Well SP-2017-14W is located in
the southeast quadrant of the salar. It was drilled utilizing a
tricone system to 52m at a diameter of 12”. The well was cased with
steel screen casing from 9m to 51m at 8” to test the halite
horizon. The static level of brine in the pump well recorded was
1.05m while the levels in the piezometers were recorded at 1m in
the Pz5m hole and 0.96cm in the Pz10m. The steady state pumping
rate achieved for the 48 hour pump period was 19.5m3/hr with a
corresponding average draw down 19.9m. The dynamic levels
recorded in the piezometer holes for SPz5 and SPz10 were 1.76m and
1.02m respectively. The average lithium grade recorded for the 48
hours was 358mg/l Li.
In all cases, the balance of the brine assays
for each well were consistent with previously reported results (see
LSC NI 43-101 on Salar de Pozuelos filed on SEDAR) and show
favourable chemistry for lithium extraction.
The pump tests results confirm the data
developed from prior pump tests as detailed in LSC’s 2018 NI 43-101
report on Pozuelos. The pump data confirm the potential for good
rate of brine production from the intermediate halite zones and the
potential for high rates of brine production from the underlying
clastic zone in the southwest portion of the salar. Additional pump
tests in other locations are in process to develop data to evaluate
hydrogeological properties across the lateral extent and depth of
the salar.
LSC has completed the engineering company
selection process, and the lead engineers for the PEA and
subsequent studies will be announced shortly. The PEA on the PPG
Project is expected to be completed in Q4 2018, followed by a PFS
in mid-2019. The studies will focus on leveraging the promising
results from these pump tests by pursuing selective extraction of
the resource and optimizing the feed grade to the evaporation
ponds.
Quality Assurance/Quality Control
Brine samples were collected in 1 litre sample
bottles, sealed and transported daily to the assay laboratory.
Sample data for collection date and time, sample number, pumping
rate and other factors were recorded in the data base. Sample
assays were undertaken at Alex Stewart Argentina
(“ASA”) in Jujuy, Argentina using ICP,
gravimetric, potentiometric and volumetric methods as detailed in a
press release from LSC dated April 10, 2017. ASA is independent of
LSC and has significant experience in assaying lithium brine and is
certified to ISO 17025 and ISO 9001 standards for quality control
and quality assurance.
LSC has a well developed program of QA/QC.
Certified standards are inserted in sample batches at a rate of at
least 1 in 20, sample duplicates are run at a rate of at least 1 in
20. Blanks are inserted at a rate of at least 1 in 20 samples. LSC
uses distilled water for blanks. ALS Global or SGS Argentina are
used as secondary check laboratories to monitor primary laboratory
results. Both ALS Global and SGS Argentina are certified to ISO
17025 and ISO 9001 standards and are independent of LSC.
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; 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
material projects: Pozuelos and Pastos Grandes Project, Salar de
Rio Grande and Salar de 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 Stalker, President
& Chief Executive Officer40 University Avenue, Suite
605Toronto, ON 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 and
PFS 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, timing and
likelihood of relocating accommodation to Pozuelos, timing of
completing engineering work on 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.
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