LSC Lithium Announces Further Results From Exploration Drilling on the Pozuelos-Pastos Grandes Project
TORONTO, Nov. 14, 2018 (GLOBE NEWSWIRE) — LSC Lithium Corporation (“LSC” or together with its subsidiaries, the “Company”) (TSXV:LSC) is pleased to announce that it has received the remainder of the results from two exploration holes completed at the Pozuelos-Pastos Grandes (“PPG”) Project.
Pozuelos – Hole PZ-18-02
- Lithium values show minimum of 434.4mg/l and maximum of 621.5mg/l, with an average of 582.2mg/l
- Confirmed the salar extends to a depth of 329.45m below surface in the north east section, more than twice the depth previously estimated in current Pozuelos resource1
- Average RBRC2 values of 4.2% with a maximum value of 17.7% compared to previous average of 3.8% estimated in the current Pozuelos resource1
Pozuelos – Hole PZ-18-01
- Lithium values from two bailer samples of 697.6mg/l and 619.2mg/l, higher than previously reported average lithium estimate of 314.3 mg/l in the current Pozuelos resource1
- Average RBRC values of 5.6% and a maximum value of 16.0% compared to previous average of 6.2% estimated in the current Pozuelos resource1
LSC’s President and CEO Ian Stalker, noted, “These are excellent exploration results and continue to increase our confidence in the PPG Project. It underscores the robustness of the Project and our decision to take this Project towards a PEA.
These results will be incorporated into an updated resource estimate for the Salar de Pozuelos, which is expected to be released before the end of November. These new holes and pump tests recently completed at Pozuelos reflect the potential of high grade lithium brine in the central section of the salar. They also open up a new zone of higher grade lithium brine with excellent porosities in the north east of the salar.”
Pozuelos Hole PZ-18-02
Hole PZ-18-02 was drilled down to a depth of 358m below surface. The aim of this hole was to explore the north east section of the salar, where previously only limited information was available. This hole was sited using the previously obtained seismic data and was aimed to explore for brine as well as to determine the actual depth of the basin in the north east sector. The intersected lithologies in this hole are clastic sediments from surface down to a depth of 329.45m below surface and basement from 329.45m to the end of hole at 358m.
The hole was drilled in HQ size and reamed to 5.5” thereafter. The brine was sampled via a packer system and 86 samples were taken, and Li values returned varied form a minimum of 434.4mg/l and a maximum of 621.5mg/l, with an average of 582.2mg/l. These Li values are much higher than originally anticipated and extend the known higher-grade area towards the north east of the salar, with a subsequent corresponding positive impact on the resource estimates expected. A total of 21 core samples were submitted for RBRC analyses and values returned a minimum value of 0.8% and a maximum value of 17.7%, with an average of 4.2%. This hole penetrated basement rocks, and although poorer RBRC values were obtained in the basement, well mineralized Li brine was intersected. The occurrence of Li carrying brine in the basement adds further potential to the resource.
This hole will be incorporated into the upgraded resources in the north east section of the salar. Subsequent airlift testing, between 46m and 358m below surface returned a Li value of 506.2mg/l.
Pozuelos Hole PZ-18-01
Hole PZ-18-01 was drilled to a total depth of 380.3m below surface. The aim of this hole was two-fold, both as an exploration hole and as a monitoring well in the central section of the salar. The intersected lithologies in this hole are chemical evaporites from surface down to a depth of 80.3m below surface, and clastic sediments, with very minor chemical evaporites in the upper portion, from 80.3m to the end of hole at 380.3m.
The hole was drilled in HQ size up to the end of hole and reamed thereafter to 6.5”. Two brine samples were collected by means of a bailer at 303.8m and 378.8m respectively below surface, within the deeper clastic sequences. The Li values obtained were respectively 697.6mg/l and 619.2mg/l. Both these Li values are noticeably higher than previously reported Li values. A total of 24 core samples were selected throughout the hole, and were submitted for RBRC analyses, with values returned ranging from a minimum of 0.5% and a maximum of 16.0%, and an average of 5.6%. The RBRC values obtained indicated a number of lithologies with excellent porosities occurring in this area.
Subsequent airlift testing, taking cognizance of the limitations thereof, between 269m and 380m below surface, returned a Li value of 553.4mg/l.
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.
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 and 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.
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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 upgraded resource at Pozuelos, results and use of data from the exploration holes at Pozuelos, ability and likelihood to incorporate results into the updated Pozuelos resource, timing of completing engineering work on 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.
1 See “Mineral Resource Estimate & Technical Report on the Salar de Pozuelos Project, Salta Province, Argentina” dated February 28, 2018 and filed on LSC’s SEDAR profile.
2 RBRC means relative brine release capacity.