LSC Lithium Corporation (“
LSC” or together with
its subsidiaries, the “
Company”) (TSXV:LSC) is
pleased to announce that it has appointed GHD Limited
(“
GHD”) as the engineering company and partner for
the execution of the Preliminary Economic Assessment
(“
PEA”) and fast-tracked Pre-feasibility Study
(“
PFS”) of the Pozuelos-Pastos Grandes Project
(“
PPG”) in the Salta Province,
Argentina.
HIGHLIGHTS
- Leverage GHD’s extensive experience in lithium projects
in Argentina
- Deliver the PPG PEA by Q4 2018
- Fast-track work for delivery of a PFS in
mid-2019
- Aim to submit Environmental Impact Statement to the
Salta regulators in Q4 2018
- Consider selective extraction of high grade targets of
over > 700mg/l lithium1
LSC’s President and CEO Ian Stalker, noted, “We
are delighted to welcome GHD as lead engineer for the development
of the PPG project and we look forward to the next phase of project
development. This appointment underscores the rapid progress made
by LSC in the last year as it plans to deliver a plan to production
should the proposed PEA and PFS support the economic viability and
technical feasibility of the project. We expect to deliver the PEA
by the end of this year and a PFS in mid-2019.”
GHD’s General Manager, Ric Robaina, said “We are
very pleased to be working with LSC on its unique multi-tenement
project in the Puna plateau of Argentina. This important project
marks another in a series of many lithium developments in which we
are playing a key part in the region and contributing to the
success of our clients. The buoyancy of the lithium market today is
a fantastic environment for our experienced team to exercise our
culture of service excellence and we look forward to delivering an
outstanding outcome for LSC.”
The Pozuelos Pastos Grandes
Project
LSC has decided to jointly develop the two
salars, with brine abstraction systems located both at Pozuelos,
where 99% of the surface area is controlled by LSC, and Pastos
Grandes, where LSC controls approximately 45% of the tenements in
the Salar. Pond and process infrastructure are planned to be
located only at Pozuelos, where geotechnical, environmental and
social conditions are better suited to construction and sufficient
space is available for development.
LSC recently announced a NI 43-101 Mineral
Resource estimate on the Pozuelos Salar which confirms 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 category2. This lithium resource
is expected to be complemented by brine from Pastos Grandes, where
a resource estimate is expected to be announced in H2 2018.
Distinct advantages of the PPG Project
include:
Combination of two salars
- Blending of brines from Pozuelos and Pastos Grandes can
optimise plant feed grade and the initial content of calcium and
sulphate
- Existing land is available if ponds are constructed at the
mature Pozuelos salar
- Excellent access to existing energy infrastructure
- The absence of communities at Pozuelos simplifies the location
of infrastructure in this salar
Operating costs can be optimised by
- Leveraging the exceptional evaporation rates at Pozuelos
- Explore solar power for the entire lithium production
operation
- Excellent pump tests yields, reducing the number of pump wells
required for production
Fast track
- Significant existing work at Pozuelos allows a fast-tracked
approach to complete the PEA and PFS
- Option to use of proven technologies for lithium carbonate
production
- Comparatively simple environmental and social situation at
Pozuelos leads to faster permitting
The Selection of GHD
GHD was selected as the preferred engineering
company after an extensive selection process, where LSC solicited
expressions of interests and proposals from 14 different companies
across the globe. GHD offers extensive experience in the design and
implementation of lithium projects with brine feedstock. They have
experience in Argentina’s Puna plateau, working with Orocobre
Limited as the preferred engineering service provider for the
expansion project at Sales de Jujuy operation, Neo Lithium Corp. in
Argentina as well as supporting major lithium producers in Chile
and Australia along with other lithium developers in the South
American region.
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 GHD LIMITED:
GHD is one of the world’s leading professional
services companies operating in the global markets of energy and
resources, water, environment, property and buildings, and
transportation. Established over ninety years ago and privately
owned by our people, we deliver engineering, architecture,
environmental and construction services to public and private
sector clients across five continents and the Pacific region.
Committed to creating lasting community benefit, we connect the
knowledge, skill and experience of our 9000 diverse people with
innovative practices, technical capabilities and robust systems.
www.ghd.com
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, Ontario 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, timing of submitting Environmental Impact
Statement to regulators, timing of completing engineering work on
the PPG Project, planning of pond and process infrastructure,
ability and likelihood of complementary brine for PPG, timing for
obtaining permits, 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.
1 See Company Press Release dated June 6, 2018.
2 See LSC 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 SEDAR.
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