TORONTO, May 29, 2017 /CNW/ - LSC Lithium Corporation (the
"Company" or "LSC") (TSXV: LSC) announced today that its strategic
partner, Enirgi Group Corporation ("Enirgi Group"), is in the final
stages of full commissioning of its commercial scale demonstration
lithium carbonate processing plant (the "DXP Plant") and is
producing lithium carbonate on a daily basis. The DXP Plant is
located at Enirgi Group's lithium project at the Salar del Rincón
in Salta, Argentina.
LSC is very pleased with the rapid ramp-up
progress and success made at Enirgi Group's lithium project and is
excited about the significant milestone they have reached in
producing lithium carbonate from raw, unconcentrated bine in less
than 24 hours. Enirgi Group hosted a group of Analysts from 5
major investment banks at their lithium project on May 25th and the group had a
first-hand look at their Direct Xtraction Process Technology. The
DXP Technology has been developed to produce final lithium
carbonate product from raw brine in less than 24 hours.
Conventional solar evaporation processes for lithium carbonate
production from brine require production time frames exceeding nine
months. LSC and Enirgi Group are strategically cooperating on
lithium development in Northern
Argentina pursuant to a Relationship Agreement whereby,
among other things, the parties will examine the most economic
solution to process LSC's brines which may include supplying LSC's
brines for processing at Enirgi Group's planned facility.
Should the economic viability and technical feasibility of the
Company's projects be established and it proceeds to production,
LSC will have exclusive access to provide third party brines for
processing at Enirgi Group's planned processing facility. LSC
anticipates brine samples from the various LSC projects will be
available for process analysis by Enirgi Group's Innovation
Division and at the lithium processing facility.
Qualified Person
The technical and scientific information
disclosed in this press release has been reviewed and approved by
Don Hains, P. Geo., a Qualified
Person as defined under NI 43-101.
To review Enirgi Group's news release dated May 29, 2017 and for an up-close look at the
progress being made at Enirgi Group's Lithium project, please visit
www.enirgi.com.
For further information relating to the
Relationship Agreement between LSC and Enirgi Group, please refer
to the filing statement dated January 27,
2017 and NI 43-101 Report dated January 27, 2017 available on LSC's SEDAR profile
at www.sedar.com.
ABOUT LSC LITHIUM CORPORATION:
LSC has amassed a large portfolio of tenements on prospective
lithium rich salars in Northern
Argentina. LSC's six major development plays are on the
salars Pozuelos (pending completion of the acquisition), Pastos
Grandes, Salinas Grandes (Salta), Salinas Grandes (Jujuy), Rio
Grande and Jama, all of which 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. After completion of announced
acquisitions, LSC will hold a land package portfolio totaling
approximately 300,000 hectares, which represents extensive lithium
prospective tenement 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
following: timing and potential future production at our
properties, the successful application, use and licensing of
DXP Technology from Enirgi Group, the capex and opex of potential
future production, the timing and ability to complete further
exploration work on our properties to define a resource and advance
it to feasibility study level, the timing for testing brines at
Enirgi Group's DXP Plant, the definition of any mineral resources
or mineral reserve estimates pursuant to NI 43-101 on our
properties, completion of work programs on our properties, the
ongoing strategic relationship with Enirgi Group and the closing of
pending property acquisitions. The use of any of the words
"could", "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 exploration and the establishment of resources and
reserves on LSC properties; the application and future licensing of
new technologies; the risks around final commissioning of Enirgi
Group's DXP Plant; the risks around timing, permitting,
funding and construction of a regional processing facility at the
Salar del Rincón by Enirgi Group and the ability of LSC to
fast-track production from its own properties by supplying brine to
such a facility; risks relating to proposed
acquisitions including TSX Venture Exchange approvals; 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.
The information concerning Enirgi Group and its operations is
based solely on public information released by Enirgi Group. The
Company does not assume any responsibility for the accuracy or
completeness of this information.
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.
SOURCE LSC Lithium Corporation