TORONTO, June 12, 2018 (GLOBE NEWSWIRE) -- LSC Lithium Corporation (“LSC” or together with its subsidiaries, the “Company”) (TSXV:LSC) is pleased to announce that it has appointed GHD Limited (“GHD”) as the engineering company and partner for the execution of the Preliminary Economic Assessment (“PEA”) and fast-tracked Pre-feasibility Study (“PFS”) of the Pozuelos-Pastos Grandes Project (“PPG”) in the Salta Province, Argentina.
HIGHLIGHTS
- Leverage GHD’s extensive experience in lithium projects in Argentina
- Deliver the PPG PEA by Q4 2018
- Fast-track work for delivery of a PFS in mid-2019
- Aim to submit Environmental Impact Statement to the Salta regulators in Q4 2018
- Consider selective extraction of high grade targets of over > 700mg/l lithium1
LSC’s President and CEO Ian Stalker, noted, “We are delighted to welcome GHD as lead engineer for the development of the PPG project and we look forward to the next phase of project development. This appointment underscores the rapid progress made by LSC in the last year as it plans to deliver a plan to production should the proposed PEA and PFS support the economic viability and technical feasibility of the project. We expect to deliver the PEA by the end of this year and a PFS in mid-2019.”
GHD’s General Manager, Ric Robaina, said “We are very pleased to be working with LSC on its unique multi-tenement project in the Puna plateau of Argentina. This important project marks another in a series of many lithium developments in which we are playing a key part in the region and contributing to the success of our clients. The buoyancy of the lithium market today is a fantastic environment for our experienced team to exercise our culture of service excellence and we look forward to delivering an outstanding outcome for LSC.”
The Pozuelos Pastos Grandes Project
LSC has decided to jointly develop the two salars, with brine abstraction systems located both at Pozuelos, where 99% of the surface area is controlled by LSC, and Pastos Grandes, where LSC controls approximately 45% of the tenements in the Salar. Pond and process infrastructure are planned to be located only at Pozuelos, where geotechnical, environmental and social conditions are better suited to construction and sufficient space is available for development.
LSC recently announced a NI 43-101 Mineral Resource estimate on the Pozuelos Salar which confirms 1,296,000 tonnes of lithium carbonate (Li2CO3) equivalent (LCE) in the Measured and Indicated Mineral Resource category and 497,000 tonnes in the Inferred Mineral Resource category2. This lithium resource is expected to be complemented by brine from Pastos Grandes, where a resource estimate is expected to be announced in H2 2018.
Distinct advantages of the PPG Project include:
Combination of two salars
- Blending of brines from Pozuelos and Pastos Grandes can optimise plant feed grade and the initial content of calcium and sulphate
- Existing land is available if ponds are constructed at the mature Pozuelos salar
- Excellent access to existing energy infrastructure
- The absence of communities at Pozuelos simplifies the location of infrastructure in this salar
Operating costs can be optimised by
- Leveraging the exceptional evaporation rates at Pozuelos
- Explore solar power for the entire lithium production operation
- Excellent pump tests yields, reducing the number of pump wells required for production
Fast track
- Significant existing work at Pozuelos allows a fast-tracked approach to complete the PEA and PFS
- Option to use of proven technologies for lithium carbonate production
- Comparatively simple environmental and social situation at Pozuelos leads to faster permitting
The Selection of GHD
GHD was selected as the preferred engineering company after an extensive selection process, where LSC solicited expressions of interests and proposals from 14 different companies across the globe. GHD offers extensive experience in the design and implementation of lithium projects with brine feedstock. They have experience in Argentina’s Puna plateau, working with Orocobre Limited as the preferred engineering service provider for the expansion project at Sales de Jujuy operation, Neo Lithium Corp. in Argentina as well as supporting major lithium producers in Chile and Australia along with other lithium developers in the South American region.
Qualified Person
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. 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; review of drill core photographs to verify lithology; review of certified assay certificates against the assay data base; review of pump test data. There are no drilling, sampling, recovery or other factors that could materially affect the accuracy and reliability of the data.
ABOUT GHD LIMITED:
GHD is one of the world’s leading professional services companies operating in the global markets of energy and resources, water, environment, property and buildings, and transportation. Established over ninety years ago and privately owned by our people, we deliver engineering, architecture, environmental and construction services to public and private sector clients across five continents and the Pacific region. Committed to creating lasting community benefit, we connect the knowledge, skill and experience of our 9000 diverse people with innovative practices, technical capabilities and robust systems. www.ghd.com
ABOUT LSC LITHIUM CORPORATION:
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, Salar de Rio Grande and Salar de Salinas Grandes. 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.
For further information please contact:
LSC Lithium Corporation
Ian Stalker, President & Chief Executive Officer
40 University Avenue, Suite 605
Toronto, Ontario Canada M5J 1T1
+416 306 8382
Email: info@lsclithium.com
Web: lsclithium.com
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 timing and expected completion of delivering a PEA and PFS for the PPG Project, timing of submitting Environmental Impact Statement to regulators, timing of completing engineering work on the PPG Project, planning of pond and process infrastructure, ability and likelihood of complementary brine for PPG, timing for obtaining permits, LSC’s overall contained lithium inventory, and ability to produce more results on the Company’s properties. 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 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 Company Press Release dated June 6, 2018.
2 See LSC Technical Report titled “Mineral Resource Estimate & Technical Report on the Salar de Pozuelos Project, Salta Province, Argentina” with an effective date of February 28, 2018 filed on SEDAR.