VANCOUVER, British Columbia, May 01, 2018 (GLOBE NEWSWIRE) -- Dajin Resources Corp. (“Dajin”) (TSX-V:DJI) (OTC:DJIFF) (Germany:C2U1) is pleased to announce that it has signed a Joint Venture Agreement (JV) with Geothermal Development Associates (GDA), Reno, Nevada. GDA’s principle line of business is the development of geothermal resources for electrical generation. They hold geothermal leases that overlap Dajin’s placer claims in the Teels Marsh valley. As a result of this JV, GDA and Dajin will share exploration data with the ultimate aim of supporting the development of a Lithium brine extraction facility as well as development of a geothermal plant for electrical generation and the production of direct-use thermal water. This agreement outlines a cooperative relationship where both companies will be focusing on their key strengths to mutually develop Lithium brine and renewable energy resources.
Dajin’s President Brian Findlay commented, “The link between geothermal systems and Lithium enrichment has been well documented, so the presence of a strong geothermal system is a good indicator for potentially commercial grades of Lithium in brine. This factor, along with preferential access to green renewable electrical power and thermal energy to power a potential future Lithium brine operation without competition over surface and water rights, enhances the chances of identifying economic Lithium and geothermal resources.” GDA’s President Martin Booth said, “We are pleased with this association with Dajin who understands and appreciates the significance of geothermal resources and how collaboration can help both companies move forward on their respective developments.” (click here for information on GDA)
Key attractions of Dajin’s Teels Marsh valley Lithium brine project include identified near-surface Lithium-bearing brines, possession of granted water rights, and minimal land fragmentation. The basin beneath the playa is up to 8,200 feet (2,500 metres) deep. Prior geothermal exploration results indicate favourable geochemistry and shallow sub-surface temperatures of up to 206°F (97°C) at 131 feet (40 meters) depth at the northwest end of the valley. In March 2017, the Bureau of Land Management accepted Dajin’s Notice to proceed with civil works and drilling as part of its exploration for Lithium brines. Construction of the roads and pads in preparation for drilling is underway. A National Instrument 43-101 report on the Teels Marsh project was released in April 2017 (a copy can be obtained by clicking here).
The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements of National Instrument 43-101 and has been reviewed and approved on behalf of Dajin Resources Corp. by Dajin Directors, Dr. Catherine Hickson, P. Geo and Dr. Mark Coolbaugh, P.Geo, the Qualified Persons.
About Dajin: (www.dajin.ca)
Dajin, through Dajin Resources S.A. (“Dajin S.A.”), holds concessions or concession applications in Jujuy Province, Argentina that were acquired in regions known to contain brines with Lithium, Potassium, and Boron values. These concessions exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes/Guayatayoc salt lakes basin. In February 2018, Dajin announced the results of 25 shallow brine samples covering an area of 550 hectares (5.5 km2) in the northwestern corner of the 4,300 hectare (43 km2) San Jose/Navidad mina. Concentrations ranged from 281 mg/l to 1,353 mg/l, averaging 591 mg/l Lithium. Dajin S.A. is partnered with LSC Lithium Corporation who has agreed to spend $2,000,000 to earn a 51% interest in Dajin S.A.’s Lithium properties while building a significant presence in Argentina. (click here for information on LSC Lithium Corporation)
Dajin is an early stage Lithium exploration company holding a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley of Mineral County, Nevada. These claims are known to contain Lithium and Boron values and are adjacent to the birth place of US Borax Corp’s first borax mine. Dajin also holds a 100% interest in 278 placer claims covering 5,591 acres (2,262 hectares) in the Alkali Lake valley of Esmeralda County, Nevada, located 7 miles (11 kilometers) northeast of Albemarle’s Silver Peak Lithium brine operation in Clayton Valley.
| ON BEHALF OF THE BOARD OF DIRECTORS Brian Findlay President & CEO | For further information please contact: Julie Hajduk at 604-609-6151 or julie@dajin.ca Head of Corporate Development | |
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