LSC Lithium Announces Update on Its Rio Grande Project
August 01 2018 - 6:30AM
LSC Lithium Corporation (“
LSC” or
together with its subsidiaries, the “
Company”)
(TSXV:LSC) is pleased to announce that it has received completed
and positive seismic tomography results from its Rio Grande project
in Argentina’s Puna region.
HIGHLIGHTS
- Five seismic lines totalling 41.73 line km were
completed, three lines orientated in N-S direction and two lines
orientated in E-W direction.
- Wide spaced survey interpreted the previous
expectations of depth extensions of the basin up to 500 m below the
salar surface.
- Interpreted tomography results suggest the occurrence
of lithologies suitable for the hosting of brine at
depth.
- Deep targets identified for follow-up core drilling to
sample brine and to determine the host lithologies’ porosity.
Drilling to commence in the near-term.
- LSC controls 26,865 ha in the Rio Grande Salar covering
90% of the salar surface.
- Previously announced Inferred Mineral Resource of
2,190,000 tonnes LCE1 down to the first 100 m. The
top 50 m amounting to 1,375,435 tonnes grading at 338mg/l Li and
the lower 50 m to 100 m amounting to 814,582 tonnes grading at
410mg/l Li.
- Indications of an increasing lithium grade at
depth.2
LSC’s President and CEO Ian Stalker, noted, “LSC
is excited to announce these results from its Rio Grande project,
one of LSC’s major development projects. These survey results
underscore the previous CS-AMT results from Rio Grande and
interprets the expected depth of the Rio Grande basin, as well as
the occurrence of potential brine hosting lithologies at depth.
Deep targets have been identified for follow up core drilling to
sample the deeper brine targets and to determine the host
lithologies’ porosity.
The depth extension of the Rio Grande basin now
has the potential to significantly increase the Inferred Mineral
Resource previously announced by LSC below the 100 m depth of the
current Mineral Resource. Planning is already underway to start
with the deep drilling as soon as possible to advance the Rio
Grande project even further.”
Qualified Person/Data
Verification
The scientific and technical information
included in 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
material projects: Pozuelos and Pastos Grandes Project, Rio Grande
and 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 StalkerPresident
& Chief Executive Officer40 University Avenue, Suite 605
Toronto ON, Canada M5J 1T1(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
regarding the interpretation of the seismic results, increase of
brine grade at depth, future drilling, ability to increase the
mineral resource, and timing to complete deep drilling. The use of
any of the words “could”, “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, including risks related to: title, permitting and
regulatory risks; exploration and the establishment of any
resources or reserves on the Rio Grande Project or other 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, the ability to the Company to
raise funds to carry on its operations, the ability of the Company
to advance its projects, future demand of lithium as a critical
commodity, and the outcome of the closing of the Transaction.
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 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 filed under the
Company’s profile on www.sedar.com.2 See the Company’s Press
Release dated April 2, 2018.
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