HIGHLIGHTS
LSC Lithium Corporation (“
LSC” or
together with its subsidiaries, the “
Company”)
(TSXV:LSC) is pleased to announce the issue of its maiden Mineral
Resource on its Pastos Grandes Salar and the filing today of the
Technical Report titled “Technical Report on Pastos Grandes Lithium
Project” dated October 25, 2018 with an effective date of October
19, 2018 (the “
Technical Report”). This NI 43-101
Mineral Resource estimate includes 939,080 tonnes of lithium
carbonate (Li2C03) equivalent (“
LCE”) in the
Measured and Indicated category and 307,500 tonnes of LCE in the
Inferred category (see Table 1).
The Company’s President and CEO Ian Stalker
stated, “We are extremely pleased with this robust resource from
our Pastos Grandes project which marks another milestone in the
development of the PPG Project. With an updated resource on
Pozuelos expected to be released this month, we anticipate that the
larger combined lithium carbonate equivalent inventory and the
blend of the chemistry from both the Pozuelos and Pastos Grandes
salars will add to the upside of the PPG Project. It is also worth
noting that the Pastos Grande resource remains open at depth.
LSC paid significant attention to the RBRC
measurements in Pastos Grandes, recognizing the importance of this
value to the ongoing PEA work and to the variability of this
measurement seen across the Salar and is comfortable in the
conservative approach to this number and the resulting resource
estimate.”
LSC is currently completing an updated resource
report for its Salar de Pozuelos property and is undertaking a PEA
for the PPG Project based on a target production rate of
20,000 tpa lithium carbonate. The resource on Pastos
Grandes and the updated resource on Pozuelos will be used to feed
the lithium production system for the PPG Project. The current
resource estimate on Pozuelos includes 1,296,000 tonnes of LCE in
the Measured and Indicated Mineral Resource category and 497,000
tonnes in the Inferred Mineral Resource category2.
The brine chemistry results for Pastos Grandes
show a complimentary nature with the brine from the Pozuelos
salar2, which supports these projects being developed jointly (See
Table 2).
Table 1 – Pastos Grandes Mineral Resource
Estimate as at October 19, 2018
Classification |
Brine
Vol.1million m3 |
RBRC2% |
Brine Assay Values
(mg/L) |
Contained Li
tonnes |
LCE9tonnes |
Li |
Ca |
Mg |
K |
SO4 |
Measured |
354.94 |
4.83 |
465 |
682 |
3,093 |
4,783 |
9,847 |
168,090 |
894,720 |
Indicated |
17.85 |
3.51 |
452 |
727 |
2,909 |
4,479 |
9,533 |
8,335 |
44,360 |
Measured & Indicated |
372.79 |
4.74 |
464 |
685 |
3,081 |
4,763 |
9,827 |
176,425 |
939,080 |
Inferred |
120.97 |
4.81 |
467 |
681 |
3,084 |
4,775 |
9,879 |
57,760 |
307,500 |
Notes:
- Brine volumes are before application of Relative Brine Release
Capacity (RBRC) factor.
- RBRC value is the weighted average for the lithological unit
within each resource category.
- Resources have been classified in accordance with CIM mineral
resource definitions, May 25, 2014 and the CIM Best Practice
Guidelines for Estimation of Lithium Brine Resources and
Reserves.
- Resources have been estimated by Louis Fourie, P. Geo., Pr.Nat.
Sci., under the direction of D. Hains, P. Geo.
- The effective date of this mineral resource estimate is October
19, 2018.
- Resources have been estimated using a cut-off grade of 100 mg/L
lithium.
- Mineral resources which are not Mineral Reserves do not have
demonstrated economic value. There is no assurance that additional
exploration will result in the conversion of Mineral Resources to
Mineral Reserves.
- Inferred Mineral Resources are considered as too speculative to
have economic criteria applied to them. There is no assurance that
additional exploration will result in the conversion of Inferred
Mineral Resources to Indicated or Measured Mineral Resources.
- A conversion factor of 5.323 has been used to convert Li metal
to LCE and does not include any other chemical elements.
- Totals for Measured and Indicated and Inferred Resources have
been rounded.
Table 2 – Key Chemical
Ratios
Mineral Resource
Category |
Mg:Li |
K/Li |
SO4:Li |
SO4/Ca |
Measured & Indicated |
6.65 |
10.28 |
21.20 |
14.35 |
Inferred |
6.61 |
10.23 |
21.16 |
14.50 |
The brine chemistry is amenable to lithium
carbonate production using conventional lithium brine processing
technologies for brine concentration such as solar evaporation. A
cut-off value of 100mg/l Li has been applied. The cut-off value is
reasonable based on current and projected lithium prices,
reasonably assumed lithium recovery factors and comparisons to
other lithium exploration projects for which Measured and Indicated
Resources have been estimated.
For further information regarding the key
assumptions, parameters, and methods used to estimate the mineral
resources and the exploration program conducted at Pastos Grandes,
please see the Technical Report which has been filed today on SEDAR
(www.sedar.com) and is also available on the Company website
(www.lsclithium.com). Hains Engineering Company Limited and Hains
Technology Associates, located in Toronto, Ontario, Canada, were
engaged to prepare an independent Mineral Resource estimate for
LSC’s Pastos Grandes salar and also to prepare the Technical Report
in accordance with National Instrument 43-101 - Standards and
Disclosures for Mineral Projects.
Sampling and QA/QC
Brine sampling for packer tests involved
collection of brine from the sample interval in a 20-litre
container, which was flushed with fresh brine several times prior
to collection of the sample. Brine was poured into 1-litre sample
bottles which had been previously flushed with fresh brine from the
20-litre container several times. Sample bottles were filled to the
top to eliminate the inclusion of air and sealed with a leak proof
lid. Samples were labelled and labels covered in clear tape to
prevent erasure of sample information. All samples remained in the
possession of the site geologist until delivery to Alex Stewart
Laboratory in Jujuy, Argentina. Brine sampling for the pump stress
test involved collection of samples from a valve attached to the
pump outlet. Brine was allowed to flush and then fresh brine was
used to wash the sample bottle several times before collecting the
sample. Sample bottles were 1-litre in size and were filled to the
top to prevent entrance of air. The samples were sealed with a leak
proof lid, labelled and the label covered by clear tape. Samples
remained in the possession of the site until delivery to the assay
laboratory.
RBRC samples were cut to length using a hack
saw, bubble wrapped for protection and then placed in PVC tubes
sealed with packaging tape. The samples were labelled and the
labels were wrapped in clear tape. Samples remained in the custody
of the site geologist until shipped. Brine (20-litre) from each
hole from which the samples were collected was also shipped to
Daniel B. Stephens & Associates Inc. ("DBSA")
as part of the sample test protocol. DBSA is independent of
LSC.
LSC has a well-developed QA/QC program. Brine
assays are undertaken at Alex Stewart Argentina (“ASA”) S.A. in
Jujuy, Argentina. ASA is independent of LSC and has significant
experience in assaying lithium brines and is certified to ISO17025
standards. Brine assays are undertaken using ICP, gravimetric,
potentiometric and volumetric methods as detailed in a press
release from LSC dated April 10, 2017. ASA runs internal duplicates
at a rate of 1 in 20. LSC inserts blanks and standards in sample
batches at a rate of 1 in 20. Standards are internal standards
developed by LSC that have been independently certified by round
robin testing. LSC uses distilled water as blanks.
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. 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, and selection
of RBRC samples; review of drill core photographs to verify
lithology; review of certified assay certificates against the assay
data base; review of pump test data; and review of RBRC results
received from DBSA. 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 Stalker, President
& Chief Executive Officer40 University Avenue, Suite
605Toronto, ON Canada M5J 1T1+416 306 8380Email:
info@lsclithium.comWeb: lsclithium.com
Forward-Looking Statements or
Information
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 completion of its PEA for the PPG Project and
updated mineral resource for the Pozuelos Salar, ability and timing
of advancing LSC’s properties through various stages of exploration
and resource development, potential of brine resources existing at
depth, likelihood of larger LCE inventory and blend of brine to add
to the upside of the PPG project, and any other matters relating to
the exploration and development of Pozuelos and LSC’s other
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:
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 Based on Measured and Indicated resources of
939,080 tonnes of LCE with average grade of 464mg/l Li from Pastos
Grandes and 1,296,000 tonnes of LCE with average grade of 387mg/l
Li from Pozuelos.Based on Inferred resources of 307,500 tonnes LCE
with average grade of 467mg/l Li from Pastos Grandes, 497,000
tonnes LCE with average grade of 340mg/l Li from Pozuelos and
2,190,000 tonnes LCE from Rio Grande with average values of 338mg/l
Li for the top 50m of Rio Grande and 410mg/l Li for the lower 50m
to 100m of Rio Grande. See “Mineral Resource Estimate &
Technical Report on the Salar de Pozuelos Project, Salta Province,
Argentina” dated February 28, 2018 and “Technical Report on the
Salar de Rio Grande Project, Salta Province, Argentina” dated March
28, 2018.2 See the LSC Press Release dated March 5, 2018 and the
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 the Company’s SEDAR Profile.
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