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LSC Lithium Corp
Symbol LSC
Shares Issued 142,403,974
Close 2018-04-23 C$ 0.82
Market Cap C$ 116,771,259
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LSC Lithium starts pump test-well program at Pozuelos

2018-04-24 09:07 ET - News Release

Mr. Ian Stalker reports

LSC LITHIUM ANNOUNCES START OF ADVANCED DEVELOPMENT ON THE POZUELOS-PASTOS PROJECT

LSC Lithium Corp. has started advanced exploration and preliminary engineering study activities on its lead project, the Pozuelos-Pastos Grandes project.

Highlights:

  • Six-pump test-well development program started on Pozuelos;
  • Mobilized drill rig for final three resource delineation holes on Pozuelos;
  • Additional seismic survey work on Pozuelos to start shortly;
  • Drilling of two resource delineation drill holes started on Pastos Grandes;
  • Pozuelos-Pastos Grandes project preliminary economic assessment engineering company selection imminent;
  • New camp build started on Pozuelos.

LSC's president and chief executive officer, Ian Stalker, noted, "The fact that LSC has been in existence for approximately one year and has already delivered a NI 43-101 mineral resource estimates for its Rio Grande and Pozuelos projects and is now on track to deliver a preliminary economic assessment for the Pozuelos-Pastos Grandes project by year-end, reflects both the high quality of the projects and the commitment from LSC to get into production by 2021."

After the summer rain period in Argentina, LSC has recommenced advanced exploration operations on its key Pozuelos-Pastos Grandes project.

Pozuelos section

The drilling and development of a further six-pump test wells on the Pozuelos section of the PPG project have started with the first well, WSP18-01, being collared on April 19, 2018. This program of test wells is to augment the site specific pump-test data acquired on the property to date. The pump-test work is also designed to further test the already established consistency of lithium grades, well yields and other parameters. These data will be used to develop the dynamic hydrogeological model, which will support the conversion of mineral resources to reserves during the prefeasibility study.

Furthermore, mobilization to site of a drill rig and ancillary equipment to the Pozuelos section in order to drill three mineral resource delineation drill holes at the northern end of the salar is almost complete and drilling of these holes is about to start. As part of this drill program, a 400-metre exploration hole will be drilled down to the salar/basement contact to further test the mineralization at depth below the limit of the current assay data and recently announced National Instrument 43-101 mineral resource estimate, which included 1,296,000 tonnes of lithium carbonate (Li2CO3) equivalent in the measured and indicated mineral resource category at an average grade of 387 milligrams per litre lithium (Li) and 497,000 tonnes LCE in the inferred mineral resource category at an average grade of 340 mg/l Li. This hole will also further test the high-grade nucleus both as a step-out hole and also at depth.

A further 30-kilometre line of seismic survey is planned for Pozuelos to better define the salar basal contact and confirm the hard boundary for the upgraded mineral resource planned for completion in Q3 2018.

LSC will relocate its accommodation for field staff and contractors to the Pozuelos site after being temporarily located in the village of Pocitos 45 km away from the site for the first phase of exploration work. The new camp is designed to house 40 people and can be scaled up when required for the operational phase of the project.

Pastos Grandes section

The 2018 Pastos Grandes section development work includes additional drilling in the form of two 500 m deep drill holes to complete the five-hole program prior to producing a mineral resource estimate. The first of these two holes was collared on April 22, 2018, and is located in the eastern half of the property.

A seismic survey and a three-hole pump-test work program is planned for completion on the Pastos Grandes section and the delivery of an NI 43-101 mineral resource is planned for Q3 2018.

As reported recently, a large mineralized footprint has been established on the Pastos Grandes section of the PPG project. Drill hole SPG-2017-2B returned a peak value of 511 mg/l Li with three main mineralized zones including 91 m at 377 mg/l Li from 57 m, 38 m at 459 mg/l Li from 354 m, 14 m at 466 mg/l Li from 466 m with mineralization being present to 512 m and is open at depth. Drill hole SPG-2017-4A returned a peak value of 528 mg/l Li with three principal mineralized zones including 62 m at 500 mg/l Li from 342 m, 110 m at 388 mg/l Li from 192 m and 83 m at 326 mg/l Li from nine m. Drill hole SPG-2017-5B delivered results which included an average of 569 mg/l Li over 430 m and a range of between 543 mg/l Li and 637 mg/l Li.

Engineering work on the PPG project has commenced with process development and discussions with energy suppliers. The environmental impact statement baseline studies are nearing completion and submission to the regulator is planned for Q4 2018.

LSC has started the process to select an engineering company, which is expected to be completed at the end of May. The PEA on the PPG project is expected to be completed in Q4 2018, with the PEA for Rio Grande planned for delivery in Q1 2019.

Qualified person

This press release is based upon information prepared and approved by Donald H. Hains, PGeo. Mr. Hains is a qualified person, as defined in NI 43-101, and is independent of LSC.

About LSC Lithium Corp.

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 totalling approximately 300,000 hectares, which represents extensive lithium prospective salar holdings in Argentina.

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