Southern Lithium Provides Results on Phase One Exploration Program at Cruz Property, Salta Province, Argentina
VANCOUVER, British Columbia, Oct.04, 2017(GLOBE NEWSWIRE) -- Southern Lithium Corp. (TSX-V:SNL) (FSE:SL5) (OTC:SLLTF) ("Southern" or "the Company") announce the Phase One lithium brine drilling program results for the Cruz Property in the Pocitos Salar Basin in Salta Province, Argentina.
The first drill hole, CREX 1701 was terminated at a depth of 476 metres and encountered brine aquifers averaging 47.5 milligrams per litre ("mg/l") lithium. The brine aquifers were sampled using a drive-point sampler at key formational changes. The densities of the samples range from 40.3 mg/l to 65.0 g/l, indicating the presence of brine in the sections. The second hole, CREX 1702, was drilled to the south of CREX 1701 and the hole was terminated at a depth of 503 metres. CREX 1702 encountered brine aquifers over a total 52.5 metres (m) from surface to 453 metres (m) to the termination point of the hole, averaging 70.44 milligrams per litre ("mg/l") lithium. The brine aquifers were sampled using a drive-point sampler at key formational changes.
The densities of the samples averaged 47.5 milligrams per litre ("mg/l") lithium in first hole (CREX 1701) and 70.44 milligrams per litre ("mg/l") lithium in the second hole (CREX 1702), indicating insufficient presence of lithium brine throughout the section to be commercially viable. Therefore, the Company will not be completing the mineral property option agreement previously announced on Nov.16, 2016 and amended on Sept 29th, 2017.
Sampling was conducted in accordance with CIM guidelines and an appropriate QA/QC program to ensure accuracy and precision of the analytical process. Initial field testing of brine recovered from the aquifers in Phase One justifies further work.
PPG S.A., Millennial's Lithium subsidiary engaged SGS Argentina SA of Buenos Aires, Argentina as the primary analytical provider. The laboratory has extensive experience with lithium brine analyses and is certified under ISO/IEC 17025, and in SGS case, specifically for determination of lithium and potassium in liquid brines by use of ICP-OES
Larry Segerstrom, President of Southern reports the resignation of Clive H. Massey as CEO and Director of Southern Lithium Corp. The Company's Management and Directors would like to thank Mr. Massey for all of his efforts and wish him all best in his future endeavours.
About Southern Lithium Corp (TSX-V:SNL) (FSE:SL5) (OTC:SLLTF)
Southern Lithium Corp. is a resource exploration company engaged in the business of acquiring and exploring minerals properties. Southern Lithium Corp. has assembled an experienced management team with a strategy to develop a portfolio of technically superior Lithium projects. The Company's main objective is to add shareholder value through successful exploration and development of high quality resources through strategic acquisitions, combined with cost-effective financial management. The Company is only focusing on projects of the highest technical merit in favorable geopolitical jurisdictions.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Larry Segerstrom, M.Sc. (Geology), P.Geo., a Director of the Company, who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
ON BEHALF OF THE BOARD OF DIRECTORS
"Larry Segerstrom"
President
For further information, please contact:
Southern Lithium Corp.
David Alexander
Phone: +1.778.772.8184
Email: ir@southernlithium.com
Further information about the Company is available on our website at www.southernlithiumcorp.com or under our profile on SEDAR at www.sedar.com.
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This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.