All dollar amounts are in U.S. dollars unless otherwise
indicated.
- Stella Marys 1,472 hectares consolidates LSC's holdings in
Salinas Grandes, LSC sole operator in Salinas Grandes, Salta
Province
- Adjacent tenements show lithium values exceeding 2,000 mg/L
and 3,000 mg/L
TORONTO, Nov. 6, 2017 /CNW/ - LSC Lithium Corporation
("LSC" or together with its subsidiaries, the
"Company") (TSXV:LSC) is pleased to announce that, further
to its news releases dated June 5,
2017 and September 22, 2017,
the Company has acquired the Stella Marys Project located in the
Salar de Salinas Grandes, in Salta Province, Argentina. In connection with the acquisition,
LSC issued 588,000 LSC common shares, which are subject to a
4-month hold period until March 3,
2018.
STELLA MARYS HIGHLIGHTS
- LSC is the single largest tenement holder in the Salar de
Salinas Grandes Basin.
- LSC is the designated sole operator in the Salar de Salinas
Grandes, Salta Province.
- Land package has increased by 1,472 hectares to over 86,000
hectares.
- Adjacent tenements show high values of lithium exceeding 3,000
mg/L on Cangrejillos and Cangrejillos I and 2,000 mg/L on Sofia
III.1
- High lithium values in excess of 800 mg/L reported by Orocobre
Ltd. on immediately adjacent tenements, from surface sampling and
shallow wells.2
The Stella Marys Property is strategically located immediately
adjacent to tenements previously owned by Orocobre Ltd. and ADY
Resources Ltd. and acquired by LSC (see LSC Press Release dated
March 29, 2017 for details) and
immediately south and east of LSC's tenements Sofia III,
Cangrejillos and Cangrejillos I. LSC understands that a
previous operator completed a comprehensive exploration program of
mapping, sampling, geochemistry and drilling on the property. The
Company continues its planned exploration program for all of its
Salar de Salinas Grandes tenements, with the objective to confirm
the historical data developed by ADY Resources Ltd., Orocobre Ltd.
and others, and to complete an initial NI 43-101 report on LSC's
Salar de Salinas Grandes tenements in Salta Province by the first
quarter of 2018.
With the closing of the acquisition of Stella Marys, LSC is the
single largest tenement holder in the Salar de Salinas Grandes
basin, both in Salta and Jujuy Provinces, with over 86,000 ha under
control, either directly or in joint-venture with Dajin Resources,
as illustrated in Figure 1 below.
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.
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 Stella
Marys Project, the Company's expectations regarding the extent of
its aggregate land position in Salinas Grandes and its development
potential, ability of LSC to confirm prior historical exploration
work conducted on Salinas Grandes, ability and anticipated timing
to complete a NI 43-101 report on Salar de Salinas Grandes
tenements in the Salta Province. 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 the Stella Marys tenements or other 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.
______________
1 See technical report titled "Review of Four Lithium
Exploration Properties in Argentina" prepared for LSC Lithium Inc. and
dated January 27, 2017 with an
effective date of December 31, 2016
filed on LSC's SEDAR profile.
2 See technical report titled "Technical Report on
Salinas Grandes Lithium Project" dated April
16, 2012, amended August 12,
2013 prepared for Orocobre Ltd filed on Orocobre's SEDAR
profile.
SOURCE LSC Lithium Corporation