Dajin Signs Agreement for Drilling Preparation at Teels Marsh Lithium Brine Project
VANCOUVER, British Columbia, Jan. 29, 2018 (GLOBE NEWSWIRE) -- Dajin Resources Corp. (“Dajin”) (TSX-V:DJI) (OTCQB:DJIFF) (Germany:C2U1) management is pleased to report that Dajin has executed a Service Agreement with Welsh Hagen Associates, Inc. located in Reno, Nevada to carry out the construction of roads and drill pads in preparation for drilling at Dajin’s 100% owned, Teels Marsh Lithium brine project. Welsh Hagen (formerly Telesto Nevada, Inc.) has been providing design and construction services to the Nevada exploration and mining community since 2003.
Upon completion of the construction of the roads and pads Dajin will commence a four (4) hole drill program to test for the presence of Lithium-bearing aquifers to depth. Dajin’s exploration approach is significantly different than what other companies have undertaken in Nevada. These wells are intended to follow-up on the favorable surface lithium brine results that Dajin previously announced (June 9, 2016). As a result of Dajin holding the water rights in Teels Marsh and being permitted under the Nevada Division of Water Resources (State Engineer), the pump-test volumes proposed for these wells is up to 20 acre-feet per well. The drilling of deep, large-diameter, cased wells with the ability to discharge, will make it possible to not only measure the concentration of Lithium in the subsurface aquifer but to also carry out the flow testing of any Lithium bearing subsurface aquifers that may be encountered during the drilling.
A reclamation bond of US$288,341 has been paid to the Bureau of Land Management (BLM) under BLM Notice #NVN094695. This bond covers the cost of reclamation following the road, pad and drilling proposed by Dajin under the BLM Notice.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and has been reviewed and approved on behalf of Dajin Resources Corp. by Dajin Directors, Dr. Catherine Hickson, P. Geo and Dr. Mark Coolbaugh, CPG, the Qualified Persons.
About Dajin:
Dajin, is an early stage Lithium exploration company. Through its interest in Dajin Resources S.A. (“Dajin S.A.”), it holds concessions or concession applications in Jujuy Province, Argentina that were acquired in regions known to contain brines with Lithium, Potassium and Boron values. These land holdings exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes and Guayatayoc salt lake basins. Dajin S.A. is partnered with LSC Lithium Corporation (“LSC”) who owns a 51% interest in Dajin S.A.’s Lithium properties in Argentina and has agreed to spend CDN$2,000,000 on the properties to complete the 51% purchase. The Cooperativa San José recently received exploration permits for a portion of the land package now part of the earn-in agreement with LSC. Exploration of the 4,300 hectares (10,625 acres) San José – Navidad minas is commencing under the management of LSC, the operator of the earn-in agreement.
In Nevada, Dajin holds a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley of Mineral County, Nevada. These claims are known to contain Lithium and Boron values and are adjacent to the birth place of US Borax Corp’s first borax mine. Dajin also holds a 100% interest in 278 placer claims covering 5,591 acres (2,262 hectares) in the Alkali Lake valley of Esmeralda County, Nevada, located 7.5 miles (12 kilometers) northeast of Albemarle’s Silver Peak Lithium brine operation in Clayton Valley.
ON BEHALF OF DAJIN’S BOARD OF DIRECTORS
Brian Findlay For further information please contact:
President & CEO Julie Hajduk at 604-609-6151 or julie@dajin.ca
Head of Corporate Development
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.