LSC Lithium Corporation (“
LSC” or together with
its subsidiaries, the “
Company”) (TSXV:LSC) is
pleased to announce that it has received encouraging pump test
results from a 7-day continuous pump test at its Pozuelos-Pastos
Grandes project (“
PPG Project”).
HIGHLIGHTS
- Constant pump rate over 7-days from well SP-2017-10W at
82m3/h
- Measured drawdown is constant and full recharge within
3h after completion of pumping
- Consistent grade with average 750mg/l Li and minimum of
736mg/l Li
- Hydrogeological modelling shows that a production well
in this area can consistently yield 130m3/h
- Results confirm a second high-grade depocenter in the
South-West of the salar, providing the basis for a resource update
and expansion at Pozuelos
LSC’s President and CEO, Ian Stalker, noted,
“These results exceeded our expectations of the potential of the
Pozuelos depo centre. LSC is currently undertaking a PEA for the
PPG project based on a target production rate of 20,000 tpa lithium
carbonate.
“Furthermore, we look forward to incorporating
these high grades into the resource update of Pozuelos, which is
expected to be completed in parallel with our PEA before year end.
As the lithium grades are more than double the values currently
assumed in this area, we anticipate the updated Pozuelos resource
will be higher both in terms of grade and lithium tonnes.”
Testing Methodology
Well SP-2017-10W was drilled in the south-west
of the Pozuelos salar utilizing a tricone system to drill 100m at a
diameter of 12”. The well was cased with PVC screen casing from 63m
to 99m at 8” to test the clastic horizon developed from 66.6m to
end of hole. Two monitoring piezometers, PZ5 and PZ10, were
installed at a distance of 5.12m and 10.23m respectively.
The static level of brine in the pump well
recorded was 1.51m while the levels in the piezometers were
recorded at 1.40m and 0.18m.
A 6” down-the-hole pump with 22kW motor supplied
by a generator was installed and operated under constant
supervision for a continuous period of 168 hours (7 days). Brine
samples were collected for assaying at the following intervals:
- Hourly for the first day
- Every three hours for the second day
- Every eight hours thereafter
During the pumping test, the piezometric levels
in the pumping well and piezometers were measured manually with
piezometric probes and automatically with datalogger. Flows were
measured at a distance of 200m from the pumping well in a gauging
tank with a hole in the base, of known area, determining the flow
depending on the height of water that is produced inside the tank.
This flow measurement was corroborated with volumetric measurements
with an excellent coincidence between both values.
Results and Interpretation of
Tests
Lithium grades were found to be very consistent,
averaging 750mg/l Li with a minimum grade of 736mg/l Li.
A graph accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/c7dedc2f-8d1a-42b5-a306-2d4747086a56
Pumping was performed steadily at a rate of
82.2m3/h. Drawdown was observed in both monitoring wells and the
pumping well, with manually and digitally logged data showing
excellent correlation. Drawdown levels remained steady after 2
hours of pumping approximately as follows:
- 23m in the pumping well
- 18m in PZ5
- 5m in PZ10
A full recharge to pre-pumping levels was
observed within three hours after the completion of the pump test,
with 80% of the recharge occurring within the first 5 minutes.
A graph accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/aec6f85e-aa8d-4dd5-9841-8ffd8dca8ba1
Conhidro, a Salta-based hydrogeology consultancy
company, interpreted these results with a numerical model using the
Infinite Extent software and accepted hydrogeological equations.
They concluded that “the maximum exploitation flow of this work is
130m3/h with a calculated dynamic level of 51.62m below the
wellhead.”
Furthermore, the fact that the observed drawdown
reduces rapidly with distance, supports the view that pumping wells
can be installed in a production grid to support a high-grade brine
supply system for operations.
LSC will incorporate these positive results into
the updated resource estimate of Pozuelos, which will be released
together with the PEA towards the end of 2018. The data from this
location supports the view of a second high-grade depocenter in the
south-west of the salar.
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 database. 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, Rio Grande
Project and Salinas Grandes Project. 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+416 306 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 for
the PPG Project, timing and expected completion of an updated
resource statement on Pozuelos, expected depth of the depo centre
of Pozuelos, potential production from the well and Pozuelos salar,
expected grade and lithium values, interpretation of results by
hydrogeology consulting firm, ability of results to support
high-grade brine supply system, results and use of data from the
pump test work on Pozuelos, ability, timing and successful
completion of the drill program at 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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