LSC Lithium Corporation (“
LSC” or together with
its subsidiaries, the “
Company”) (TSXV:LSC) is
pleased to announce that it has received further encouraging pump
test results from step tests, airlifts and a second 7-day
continuous pump test at the Pozuelos-Pastos Grandes
(“
PPG”) Project.
HIGHLIGHTS
- Step Test from Well WPZ-18-04:
° Yielded average grades of 531mg/l Li
° Confirms a southern extension of the high grade
depocenter at Pozuelos salar
° Results of drawdown and recharge indicate that an
operational well of 70m3/h could be supported at this
hole
- 7-Day Pump Test from Well
WPZ-18-01: ° Yielded average
grades of 420mg/l Li ° Constant
pump rate over 7 days at 41.5m3/h
° 80% of recharge within 3 hours
° Results indicate that an operational well of over
45m3/h could be supported
- Total of 7 sites with completed pump or step tests
across Pozuelos
- Results will support the upcoming resource update for
Pozuelos salar expected by end of November 2018
LSC’s President and CEO Ian Stalker, noted,
“These results continue to increase our confidence in the potential
of the Pozuelos depocentre. We look forward to incorporating these
high grade results into the resource update of Pozuelos, which is
expected to be completed with our PEA in November 2018. As the
grades are higher than the values currently assumed in these areas
of the resource, we anticipate the updated Pozuelos resource to be
higher both in terms of lithium grade and tonnes.”
See map of the Pozuelos salar which shows the
location of all 7 hydrogeological test sites, including sites
WPZ-18-01 and WPZ-18-04 reported in this press release. (Link to
Map of the Pozuelos salar hydrological test sites).
WPZ-18-01 7-day Pump Test
Well WPZ-18-01 was drilled in the north of the
depo center of the Pozuelos salar at a diameter of 12”. The well
was cased with PVC screen casing and one monitoring piezometer,
PZ20 was installed at a distance of 20.54m.
A 6” down-the-hole pump with 22kW motor powered
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 piezometer 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 correlation between both values.
Lithium grades were found to be relatively
consistent, averaging 420mg/l with minimum and maximum grades of
371mg/l and 448mg/l respectively. Grades started lower and then
stabilized around the average. (Link to WPZ-18-01 Li Grade from
Pump Tests Results Graph)
Pumping was performed steadily at a rate of
41.5m3/h. Drawdown was observed in the monitoring well and the
pumping well. Drawdown levels remained steady after approximately 8
hours of pumping approximately as follows: 30m in the pumping well
and 4m in PZ20.
A full recharge to pre-pumping levels was
observed within 48 hours after the completion of the pump test,
with 80% of the recharge occurring within the first 3 hours.
These results were interpreted with a numerical
model using the Infinite Extent software and accepted
hydrogeological equations. They concluded that a production well of
at least 45m3/h could be supported in this area. (Link to 7 Day
Pump Test Results WPZ-18-01 Graph)
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.
WPZ-18-04 Step Test
Well WPZ-18-04 was drilled in the south of the
Pozuelos salar utilizing a tricone system to a depth of 183m at a
diameter of 12”. The well was cased with PVC screen casing at 8”. A
6” down-the-hole 22kW pump powered by a generator was installed at
a depth of 57m and pumped at variable speeds for a 6-hour period to
test the drawdown, yield and recharge.
During the test, the piezometric levels in the
pumping well were measured manually with piezometric probes and
automatically with a 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.
Lithium grades were measured every 15 minutes
and were found to be very consistent, averaging 531mg/l with
minimum and maximum grades of 517mg/l and 543mg/l respectively.
Pumping was performed at stepped increments with
20m3/h for two hours, followed by 43m3/h for two hours and 58m3/h
for the final two hours. Drawdown was observed in the pumping well
and levels displayed steady behavior within minutes of pumping at
each rate and stabilized approximately as follows:
- 9m at 20m3/h
- 23m at 43m3/h
- 37m at 58m3/h
A full recharge to pre-pumping levels was
observed within 2 hours after the completion of the step test, with
80% of the recharge occurring within the first 5min. (Link to Step
Test Results for WPZ 18-04 Graph)
Conhidro, a Salta based hydrogeology
consultancy, 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 70m3/h with a calculated dynamic level of 56.04m below
the wellhead.”
Pozuelos Resource Update
LSC will proceed to incorporate these positive
results into an updated resource estimate of Pozuelos, which will
be released together with the PEA towards the end of November 2018.
The data from WPZ-18-04 supports the view of a second high grade
depo center in the south of the salar. As the grades encountered
during the pump test are higher than those in the current resource
estimate, an increase of grade and quantity is anticipated in this
area.
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 a 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, 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 and an updated resource estimate for the Pozuelos
salar, ability to incorporate results into the updated resource of
Pozuelos with higher grade and higher resource, ability of a
production well to be supported using these results, results and
use of data from the pump test work on Pozuelos in the updated
resource estimate for the salar, timing of completing engineering
work on the PPG Project, targeted production of lithium carbonate
from the PPG Project, the size of future production weels, 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”, “targeted”, “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.
Lsc Lithium Corporation (TSXV:LSC)
Historical Stock Chart
From May 2024 to Jun 2024
Lsc Lithium Corporation (TSXV:LSC)
Historical Stock Chart
From Jun 2023 to Jun 2024