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LSC Lithium Corp
Symbol C : LSC
Shares Issued 162,255,869
Close 2019-01-09 C$ 0.69
Recent Sedar Documents

LSC Lithium files Pozuelos technical report on SEDAR

2019-01-10 07:40 ET - News Release

Mr. Ian Stalker reports

LSC LITHIUM FILES TECHNICAL REPORT FOR POZUELOS WITH MEASURED AND INDICATED 1,678,000 TONNES LCE AT 505MG/L LI AND INFERRED 631,000 TONNES LCE AT 518MG/L LI

LSC Lithium Corp. has filed the technical report on the updated resource estimate for its Pozuelos project in Salta province, Argentina, titled "Mineral Resource Estimate and Technical Report on the Salar de Pozuelos Project, Salta Province, Argentina" dated Dec. 21, 2018, with an effective date of Nov. 22, 2018.

Ian Stalker, president and chief executive officer of the company, noted: "The filing of the updated Pozuelos resource estimate is another significant milestone in the development of the PPG project. The updated resource estimate emphasizes the potential of the jointly developed Pozuelos-Pastos Grandes project with the impressive size of the resource. The PPG project now has a combined resource of 2,617,000 tonnes LCE in the measured and indicated category and 938,500 tonnes LCE (1) in the inferred category, which was used in the PEA based on a target production rate of 20,000 tpa lithium carbonate. Our targeted 20,000 tpa of lithium carbonate production in 2021 may indeed be only the beginning for this impressive inventory when we combine both salars."

The resource estimate states, "Overall, the work undertaken to date indicates that the salar de Pozuelos has a significant, high quality brine resource and potential to be a producer of lithium brine for lithium carbonate production. The salar has high effective porosity and high lithium brine values down to significant depth. Lithium values in the brine are typically in excess of 400mg/l, with significant brine volumes reporting lithium values greater than 500mg/l. The brine chemistry is highly amenable to processing using a variety commercially proven processes and (potentially) several new process technologies."

Hains Engineering Company Ltd. and Hains Technology Associates located in Toronto, Ont., Canada, were engaged to prepare an independent mineral resource estimate for LSC's Pozuelos project and also to prepare the technical report in accordance with National Instrument 43-101 -- Standards and Disclosures for Mineral Projects. The company is not basing its production decision on a feasibility study of mineral reserves demonstrating economic and technical viability. Historically such projects have a much higher risk of economic and technical failure.

The updated NI 43-101 mineral resource estimate has increased the measured and indicated resource to 1,678,000 tonnes of lithium carbonate (Li2CO3) equivalent (LCE) and the inferred resource to 631,000 tonnes of LCE. This is an increase of 29 per cent in the measured and indicated resource category and 27 per cent in the inferred resource category compared with the previous resource estimate dated Feb. 28, 2018 (2). The average grades from the salar have also increased by 30 per cent in the measured and indicated category from 387 milligrams per litre to 505 mg/L and by 52 per cent in the inferred category from 340 mg/L to 518 mg/L.

The resource estimate previously announced on Feb. 28, 2018, for Pozuelos included 1,296,000 tonnes of LCE in the measured and indicated mineral resource category with average grade of 387 mg/L Li and 497,000 tonnes in the inferred mineral resource category with average grade of 340 mg/L Li (2).

Updated Pozuelos resource

The updated mineral resource estimate for Pozuelos is detailed in the attached table.

                      RESOURCE ESTIMATE SUMMARY, SALAR DE POZUELOS
                                            Nov. 22, 2018
                                                                                                           
                                                       Brine assay                                         
                                                     values (3) (mg/L)                                     
                       Brine vol (1)   RBRC (2)                                SO (2-4) Contained Li     LCE (9)
Classification           (000s m (3))       (%)    Li      Ca     Mg     K          Li       (tonnes)   (tonnes)
                    
Measured               4,713,466.09        8.41   470   1,757  2,652  4,143      6,570       180,000    958,000      
Indicated              4,259,737.29        5.84   544   1,054  3,216  2,761     11,359       135,155    719,500      
                                                                                                            
Measured + indicated   8,973,203.38        7.19   505   1,423  2,920  3,487      8,843       315,155  1,678,000    
Key ratios                                                                                                  
Measured + indicated                                Mg/Li Ca/SO (4)   K/Li   SO (4)/Li   Li/Ca   K/Mg         

                                                     5.78     0.16    6.91       17.52    0.35   1.19         
                                                                                                            


                                                       Brine assay                                         
                                                     values (3) (mg/L)                                     
                       Brine vol (1)   RBRC (2)                                SO (2-4) Contained Li     LCE (9)
Classification           (000s m (3))       (%)    Li      Ca     Mg     K          Li       (tonnes)   (tonnes)

Inferred                4,936,541.30      4.64    518   1,170  2,948 2,240       8,771       118,603    631,000      
Key ratios                                                                                            
                                               Mg/Li Ca/SO (4)   K/Li SO (4)/Li Li/Ca               K/Mg         

                                                4.82     0.13   4.32      16.82  0.44               0.76         
                                                                                                      
Notes
 
(1)  Brine volumes are before application of relative brine release capacity (RBRC) factor.

(2)  RBRC value is the weighted average for the resource classification category.
   
(3)  Resources have been classified in accordance with CIM mineral resource definitions, May 25, 2014. Assay 
     values have been rounded to nearest whole number.

(4)  Resources have been estimated by Louis Fourie, PGeo, PrNatSci, under the direction of D. Hains, PGeo.
   
(5)  The effective date of this mineral resource estimate is Nov. 22, 2018.
   
(6)  Resources have been estimated using a cut-off grade of 330 mg/L lithium.
   
(7)  Mineral resources which are not mineral reserves do not have demonstrated economic value. There is no 
     assurance that additional exploration will result in the conversion of mineral resources to mineral reserves.
   
(8)  Inferred mineral resources are considered as too speculative to have economic criteria applied to them.  
     There is no assurance that additional exploration will result in the conversion of inferred mineral 
     resources to indicated or measured mineral resources.
   
(9)  A conversion factor of 5.323 has been used to convert Li metal to lithium carbonate equivalent (LCE). 

(10) Totals for M&I and inferred resources have been rounded.

The company has filed the technical report on SEDAR and it is also available on the company website.

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, PGeo. Mr. Hains is a qualified person as defined in National Instrument 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 database; 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 Corp.

LSC Lithium has amassed a large portfolio of prospective lithium-rich salars and is focused on developing its material projects: Pozuelos and Pastos Grandes project, Rio Grande project and Salinas Grandes project. 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.

(1) See the technical report titled "Technical Report on Pastos Grandes Lithium Project" with an effective date of Oct. 19, 2018, filed on the company's SEDAR profile. This measured and indicated figure comprises 1,678,000 tonnes LCE from Pozuelos with average grade of 505 mg/L Li and 939,080 tonnes LCE from Pastos Grandes with average grade of 464 mg/L Li. This inferred figure comprises 631,000 tonnes LCE from Pozuelos with average grade of 518 mg/L Li and 307,500 tonnes from Pastos Grandes with average grade of 467 mg/L Li. Numbers have been rounded and may not add.

(2) See the technical report titled "Mineral Resource Estimate & Technical Report on the Salar de Pozuelos Project, Salta Province, Argentina" with an effective date of Feb. 28, 2018, filed on the company's SEDAR profile.

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