LSC Lithium Files Technical Report for Rio Grande With NI-43-101 Inferred Mineral Resource 2,190,000 Tonnes LCE

Apr 2, 2018

TORONTO, April 02, 2018 (GLOBE NEWSWIRE) -- LSC Lithium Corporation (“LSC” or together with its subsidiaries, the “Company”) (TSX-V:LSC) is pleased to announce the filing of 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. The report contains the Mineral Resource estimate on the Rio Grande Salar, one of the Company’s principal projects located in Salta province, Argentina.

HIGHLIGHTS

  • Rio Grande NI 43-101 Technical Report filed
  • Inferred NI 43-101 Mineral Resource of 2.19 million tonnes LCE
  • Lithium resource open at depth between 100m and 500m
  • Drilling to test deeper zones to start shortly
  • Upgraded Mineral Resource to Measured and Indicated categories planned

The Company’s President & CEO, Ian Stalker, stated, “The filing of this Technical Report for LSC’s Rio Grande Project marks yet another significant milestone in the development of the Company’s mineral resource asset base with 2.19 million tonnes of LCE, following the recent filing of the technical report for our Pozuelos Project. We are very excited about the potential to increase the mineral resource at Rio Grande and also to upgrade the resource in the coming months with the commencement of the planned seismic survey and mobilisation of the drill equipment.

This NI 43-101 Mineral Resource estimate includes 2.19 million tonnes of lithium carbonate (Li2CO3) equivalent (LCE) in the Inferred Resource category down to the first 100m (see Table 1). The top 50m of the deposit amounts to 1,375.4 ktonnes grading at 338mg/l Li and the lower 50m to 100m amounting for 814.6 ktonnes grading at 410mg/l Li.1 A previously completed CS-AMT subsurface conductivity survey carried out on the Rio Grande Salar indicates the potential for lithium bearing formations to extend to depths in excess of 500m below surface. Lithium grades tend to improve between 50m to 100m below surface and this trend indicates potentially improved grades at depth.

Hains Engineering Company Limited located in Toronto, Ontario, Canada was engaged to prepare an independent Mineral Resource estimate for LSC’s Rio Grande Project and also to prepare the Technical Report in accordance with National Instrument 43-101 - Standards and Disclosures for Mineral Projects.

Table 1 – Rio Grande Resource Statement as at February 15, 2018
       
Classification and ZoneAssay Value (mg/l)


Total Brine
Vol (B m3)
RBRC1
(%)

Available
Brine Vol 
(MM m3)
Li
Ktonnes
(as metal)
LCE2
(Ktonnes)

InferredLiCaKMgSO4
Top 50m, 5km radius of pump well3383,5706,1701,32029,1004.17013.5563.049190.31,013.0
Remaining area, top 50m3383,5706,1701,32029,1002.8986.95201.43268.1362.4
Sub-total3383,5706,1701,32029,1007,06910.81764,482258.41,375.4
Lower 50m – 100m4107107,5204,92034,1307.0695.28373.245153.0814.6
Total Inferred3742,1496,8453,12931,61514.1388.05 1,137.727411.42,190.0

Notes:
1 Relative Brine Release Capacity.
2 Li metal converted to Lithium Carbonate Equivalent (LCE) using a factor of 5.323.
3 Rounded down to nearest ‘000. Numbers may not add due to rounding.
4 Resources estimated using CIM 2014 resource classification definitions.
5 A cut-off grade of 100mg/l of Li was applied. The hydraulic parameters of the resource area suggest that it is reasonable to expect brine extraction by a conventional production wellfield at a commercially viable rate, while the geochemical characteristics of the brine suggest that conventional processing techniques may be employed to produce saleable lithium products in an economically profitable manner. These processing techniques are employed in lithium brine operations in Chile, the USA and China.
6 Resources estimated by  L. Fourie, P.Geo, Pr.Nat. Sci under the direction of D. Hains, P. Geo.
7 Resources which are not Reserves do not have demonstrated economic value. There is no guarantee that resources can be converted to reserves with additional work.
8 Calculated after application of RBRC factor.

The Company has filed the Technical Report on SEDAR (www.sedar.com) and is also available on the Company website (www.lsclithium.com).

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.

ABOUT LSC LITHIUM CORPORATION:

LSC Lithium has amassed a large portfolio of prospective lithium rich salars and is focused on developing its tenements located in five salars: Pozuelos, Pastos Grandes, Rio Grande, Salinas Grandes, and Jama. 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 Officer
151 Yonge Street, 11th floor

Toronto ON, Canada M5C 2W7
(416) 304 9384
Email: info@lsclithium.com
Web: 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 potential for lithium bearing formations to extend to depths, ability and timing to update the resource and timing for further drilling. 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.

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1 See the Company’s press release dated February 15, 2018.

 

 

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Source: LSC Lithium Corporation