LSC Lithium acquires strategically located Stella Marys in Salinas Grandes
(7 months ago)
TORONTO: 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.