LSC announces drill results update on Pastos Grandes project

 

Drill Hole Returns Wide High Grade Lithium Results

TORONTO, Nov. 14, 2017 /CNW/ - LSC Lithium Corporation ("LSC" or together with its subsidiaries, the "Company") (TSXV:LSC) is pleased to announce the completion of the first drill hole, SPG-2017-02B, in its 6 hole Phase 1 program on Salar de Pastos Grandes.The lithium assay results for this drill hole demonstrate consistent high grade thick mineralised zones to depth. The next 5 holes and pumping test program are expected to be completed by mid Q1 2018.

DRILL HOLE SPG-2017-02B HIGHLIGHTS

• Average lithium grades returned a peak of 511 mg/l Lithium
• Consistent lithium mineralization to significant depth of 512m on the Company's property
• Favorable brine chemistry - Mg/Li ratio ranging between 6:1 and 8:1, SO₄/Li ratio between 18:1 and 24:1 and K/Li ratio ranging between 9:1 and 11:1
• Wide zones of lithium mineralization as follows:
• 91m at 377 mg/l Lithium from 57m
• 38m at 459 mg/l Lithium from 354m
• 14m at 466 mg/l Lithium from 466m
• NI 43-101 Mineral Resource report expected by Q1 2018
• LSC is considering combined production from salars Pastos Grandes and Pozuelos, with centralized processing at Pozuelos due to brine chemistry similarities and capital and operating cost savings

The Salar de Pastos Grandes is situated 17 km from the Company's Pozuelos property. It is one of a portfolio of 5 assets belonging to the Company which includes the other key properties of Salinas Grandes, Rio Grande, Pozuelos and Jama. These are all located in the highly prospective Argentinian section of the Lithium Triangle, which is a proven and current lithium carbonate producing area.

LSC's President & Chief Executive Officer, Ian Stalker, noted that "Further to our recent news release on the completion of the Phase 1 drill program at our Pozuelos property, this latest result from Pastos Grande adds to the value we are creating and may significantly build onto our anticipated overall contained lithium inventory. Salar de Pastos Grandes is not fully held by any one owner. LSC owns approximately 45% of the Salar de Pastos Grandes and we are considering the feasibility and cost efficiency of pumping brine from our portion of the Salar directly to a central processing plant at our Salar de Pozuelos, 17 km away, rather than having two separate plants at each site. We are pleased with the progress to date and look forward to more results being produced by year end as we push on with completion of the NI 43-101 Mineral Resource reports highlighted previously".

The first hole drilled at Pastos Grandes, SPG-2017-2, was abandoned at 121m after intersecting artesian water flow. The balance of the drill program is ongoing with the third drill hole of the program, SPG-2017-04A, currently at a depth of 413m below collar and planned to stop at 500m below surface (see Map 1 and Table 1). The results show consistent and wide zones of lithium mineralization with the majority of the down hole average grades being well in excess of 400mg/l Lithium (see Table 2). The current results also indicate a favorable brine chemistry with the Mg/Li ratio ranging between 6:1 and 8:1, SO₄/Li ratio between 18:1 and 24:1 and K/Li ratio ranging between 9:1 and 11:1.

Table 1: Diamond Drill Program Summary - Salar de Pastos Grandes

Table 2: Selected Brine Packer Sample Results
Salar de Pastos Grandes Drill Hole SPG-2017-02B

Table 3: Selected RBRC Sample Results**
Salar de Pastos Grandes 2017 Diamond Drill Program (Results as of November 13, 2017)

Brine samples are recovered from the diamond holes using a packer system to isolate specific levels in the holes and assayed at Alex Stewart Assayers in Mendoza, Argentina.

Core samples for Relative Brine Release Capacity ("RBRC") tests to determine Specific Yield, a measure of effective porosity, were taken from the drill hole representing all lithologies and all depths of the hole drilled. Samples are shipped to Daniel B. Stephens & Associates Inc. ("DBSA") in Albuquerque, New Mexico for analysis. DBSA has developed a proprietary method to test effective porosity of core samples from salars that has been widely adopted by companies exploring for lithium brines. Details of the method are described in a paper by Stormont¹ et. al. (2011).Results for RBRC samples are detailed in Table 3. The results show moderately high RBRC values in the upper halite zones and productive zones in the deeper lying clastic zones. Pumping tests to develop additional hydraulic data are planned to commence as soon as the planned pumping well program is completed.

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 Mendoza, Argentina by courier. 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 by courier to the assay laboratory.

RBRC samples were cut to length using a hack saw, bubble wrapped for protection and then placed in PVC tubes which were sealed with packaging tape. The samples were labelled and the labels wrapped in clear tape. Samples remained in the custody of the site geologist until shipped. Brine (20 L) from each of the holes from which the samples were collected was also shipped to 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 Mendoza, Argentina. ASA is independent of LSCand 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 the 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 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.

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 completion of the acquisition of the timing thereof, the ability of LSC to confirm prior historical exploration work conducted on LSC's tenements, ability and anticipated timing to complete a NI 43-101 report on the Salar de Pozuelos, Salar de Pastos Grandes, Salar de Rio Grande and on LSC's Salar de Salinas Grandes tenements in the Salta Province, feasibility, costs and timing of constructing a processing plant, ability to test brines using third party technology, ability, timing and successful completion of the drill program and pumping test program at Pastos Grandes, LSC's overall contained lithium inventory, ability to produce more results on Pastos Grandes, and existence of consistent lithium mineralization at depth. 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 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.

SOURCELSC Lithium Corporation

View original content with multimedia: http://www.newswire.ca/en/releases/archive/November2017/14/c1855.html