Highlights:
Lithium Americas Corp. (TSX:LAC) (NYSE:LAC)
("Lithium Americas" or the "Company") is pleased
to provide an updated mineral resource estimate (the
“
Resource Estimate”) on the Thacker Pass deposit
(previously Zone 1) (“
Thacker Pass”) of the
Lithium Nevada Project (the “
Lithium Nevada
Project” or the “
Project”) located in the
McDermitt Caldera, Nevada, USA. The Resource Estimate was prepared
pursuant to National Instrument 43-101 – Standards of Disclosure
for Mineral Projects (“
NI 43-101”). At a cut-off
of 2,000 parts per million lithium (“
ppm Li”), the
updated Resource Estimate consists of a Measured and Indicated
Resource of 385 million tonnes grading 2,917 ppm Li for 6.0 million
tonnes of lithium carbonate equivalent (“
LCE”) and
an Inferred Resource of 147 million tonnes grading 2,932 ppm Li for
2.3 million tonnes of LCE (Table 1).
The updated Resource Estimate will be
incorporated into a Preliminary Feasibility Study (the
“PFS”) on the Lithium Nevada Project with results
on track to be released by the end of Q2 2018. For more information
on the Lithium Nevada Project and team, please refer to the press
release dated October 23, 2017.
“Exploration work in 2017 has successfully
expanded the lithium resource at the Lithium Nevada Project. More
specifically, the results reveal additional high-grade and near
surface lithium mineralization northwest of the original pit area
that was proposed in 2012,” commented Alexi Zawadzki, Lithium
Americas’ President of North American Operations. “We are pleased
that the 2017 Exploration Program has achieved the goal of
demonstrating scalability of the Project in an area we believe
minimizes permitting and schedule risks.”
Table 1: Mineral Resource Statement for
Lithium Nevada - Thacker Pass Deposit(1)(2)(3)
|
|
June 2016 |
April 2018 |
Category |
|
Tonnage |
|
Avg. Li(ppm) |
|
LCE |
Tonnage |
|
Avg. Li(ppm) |
|
LCE |
|
(000 t) |
|
|
(000 t) |
(000 t) |
|
|
(000 t) |
Measured |
|
50,753 |
|
3,120 |
|
843 |
242,150 |
|
2,948 |
|
3,800 |
Indicated |
|
164,046 |
|
2,850 |
|
2,489 |
143,110 |
|
2,864 |
|
2,182 |
Measured and Indicated |
|
214,799 |
|
2,914 |
|
3,332 |
385,260 |
|
2,917 |
|
5,982 |
Inferred |
|
124,890 |
|
2,940 |
|
1,954 |
147,440 |
|
2,932 |
|
2,301 |
Notes:
1. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. There is no
certainty that all or any part of the mineral resource will be
converted into mineral reserves.2. Resources presented at a 2,000
ppm Li cut-off grade.3. The conversion factor for lithium metal
(100%) to LCE is 5.323.
A new geologic and grade block model was created
using the historical and 2017 drilling information.
Calculation of the updated Resource Estimate was performed using a
cut-off of 2,000 ppm Li, the same cut-off used in the June 2016
Independent Technical Report for the Lithium Nevada Property,
Nevada, USA.
2017 Exploration Program
The intent of the 2017 Exploration Program was
to identify a resource of scale in the Thacker Pass area (formerly
Zone 1) of the Lithium Nevada Project, where habitat quality is
substantially lower than in the Montana Mountains to the north
(Figure 1a). In Thacker Pass, 77 exploration holes totaling
6,653 meters were drilled, a seismic survey was conducted and the
surface geology of the project was remapped.
A photo accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Download/dcdb3373-6484-43ce-b0a0-24165e6061ef
The drilling data is presented in Table 2 and
the locations of the exploration holes are presented in Figures 3a
and 3b. 13 holes were drilled in the newly defined northwest
expansion area (Figure 1b and Figure 4). This area is located
northwest of the mine pit that was proposed in a 2012 mine plan.
The assay data from all these holes averages 3,998 ppm Li, higher
than the assay data from the infill drilling. The ore zone averages
46 m thick in this area (Figure 2).
The 2017 Exploration Program also resulted in
the discovery of an area identified as the Southwest Basin (Figure
1b) with high concentrations of Li and minimal overburden. Seven of
the exploration holes intersected lithium mineralization.
The 2017 Exploration Program did not intersect
the western boundary limit of lithium mineralization in the
northwest expansion area. Additional drilling is planned in this
area as part of the proposed 2018 Exploration Program (Figure 2).
New drilling in 2018 will further explore the lateral extent,
thickness and depth of lithium mineralization in unexplored areas
east of Thacker Pass.
A photo accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Download/2b6d978a-55d0-4267-bc13-61ff0910b0f6
Preliminary Feasibility Study
Update
Lithium Nevada is advancing a PFS, which is
being prepared pursuant to NI 43-101, in order to demonstrate the
economic potential of producing high-value lithium products from
claystone. The Company has successfully completed process
test work to validate a conceptual process flowsheet. The process
employs low-risk commercially-proven acid leaching, purification
and crystallization technologies to efficiently produce lithium
products for the battery industry. Lithium Nevada is advancing the
engineering design and costing work and is on track to provide the
results of the PFS on schedule by the end Q2 2018.
Lithium Nevada Project
Timeline
- Q2 2018 – advance additional baseline environmental survey
- Q2 2018 – release results of PFS
- H2 2018 – initiate major mine plan permitting
- H2 2018 – commence detailed engineering
Table 2: Lithium Nevada - Thacker Pass 2017 Drilling
Data
Hole (LNC-) |
TD (m) |
Overburden |
Length (m)>2000 ppm Li |
Li ppm Avg |
Li ppm Max |
001 |
186.54 |
20.48 |
60.32 |
3311 |
6100 |
002 |
60.96 |
- |
- |
178 |
273 |
003 |
97.44 |
- |
- |
271 |
2480 |
004 |
46.36 |
- |
- |
351 |
1450 |
005 |
60.96 |
- |
- |
212 |
990 |
006 |
60.96 |
- |
- |
179 |
379 |
007 |
83.06 |
- |
- |
129 |
411 |
008 |
76.20 |
- |
- |
310 |
1470 |
009 |
154.72 |
218 |
25.62 |
2950 |
4050 |
010 |
212.48 |
- |
- |
481 |
2550 |
011 |
71.84 |
6.10 |
25.12 |
2692 |
3950 |
012 |
54.13 |
- |
- |
102 |
690 |
013 |
121.92 |
39.41 |
29.60 |
2910 |
6170 |
014 |
76.29 |
- |
- |
183 |
1340 |
015 |
122.41 |
3.17 |
50.44 |
3221 |
6340 |
016 |
95.28 |
17.68 |
35.14 |
3226 |
5350 |
017 |
45.81 |
6.58 |
11.31 |
3321 |
5800 |
018 |
122.71 |
3.63 |
49.40 |
3005 |
5820 |
019 |
82.75 |
3.05 |
58.30 |
3553 |
6420 |
020 |
78.46 |
10.52 |
47.58 |
3706 |
6920 |
021 |
80.10 |
6.04 |
53.59 |
4083 |
7660 |
022 |
46.51 |
- |
- |
399 |
1790 |
023 |
46.57 |
- |
- |
487 |
2750 |
024 |
54.86 |
17.13 |
19.38 |
2926 |
4980 |
025 |
76.99 |
- |
- |
402 |
1350 |
026 |
95.10 |
20.63 |
56.75 |
3369 |
5550 |
027 |
106.68 |
6.28 |
61.14 |
3555 |
5870 |
028 |
89.18 |
14.51 |
58.28 |
3613 |
7230 |
029 |
107.47 |
15.85 |
59.44 |
3454 |
5480 |
030 |
76.20 |
8.41 |
55.87 |
3310 |
6880 |
031 |
90.74 |
13.23 |
59.25 |
3663 |
7540 |
032 |
80.04 |
11.06 |
54.89 |
3749 |
7210 |
033 |
89.18 |
9.33 |
57.76 |
3729 |
7620 |
034 |
61.75 |
6.25 |
46.88 |
4031 |
8040 |
035 |
40.42 |
3.54 |
30.42 |
4136 |
7720 |
036 |
92.29 |
3.84 |
70.71 |
3377 |
7440 |
037 |
92.23 |
15.73 |
56.14 |
3486 |
6990 |
038 |
95.28 |
13.81 |
57.64 |
3586 |
6940 |
039 |
89.18 |
12.89 |
60.29 |
3545 |
7500 |
040 |
87.69 |
13.93 |
61.08 |
3874 |
7950 |
041 |
45.72 |
2.53 |
34.84 |
3805 |
7040 |
042 |
95.28 |
15.25 |
69.24 |
3453 |
6990 |
043 |
91.01 |
16.28 |
61.08 |
3505 |
7180 |
044 |
89.25 |
11.46 |
62.27 |
3789 |
6960 |
045 |
84.61 |
16.00 |
54.53 |
3841 |
6910 |
046 |
66.54 |
17.37 |
39.96 |
3655 |
7320 |
047 |
88.67 |
14.54 |
54.41 |
3860 |
7390 |
048 |
92.29 |
16.70 |
60.44 |
3587 |
6900 |
057 |
92.29 |
14.20 |
61.33 |
3658 |
7370 |
058 |
95.10 |
16.00 |
57.09 |
3445 |
7950 |
059 |
113.69 |
6.10 |
68.67 |
3352 |
6170 |
060 |
95.34 |
0 |
63.67 |
3363 |
6620 |
061 |
112.07 |
37.25 |
56.97 |
3429 |
5670 |
062 |
96.99 |
14.87 |
61.36 |
3487 |
6700 |
063 |
90.77 |
22.19 |
54.86 |
3655 |
6450 |
064 |
54.19 |
6.95 |
33.65 |
3965 |
6780 |
065 |
95.34 |
23.44 |
56.88 |
3663 |
6460 |
066 |
87.72 |
13.05 |
60.81 |
3741 |
6640 |
067 |
58.77 |
17.41 |
22.80 |
4797 |
6770 |
068 |
92.29 |
13.26 |
59.22 |
3721 |
6740 |
069 |
54.19 |
11.77 |
26.46 |
4445 |
8440 |
070 |
84.67 |
14.57 |
57.33 |
3531 |
7160 |
071 |
101.44 |
16.18 |
59.13 |
3886 |
7530 |
072 |
101.44 |
21.00 |
44.99 |
3741 |
7920 |
073 |
77.05 |
10.24 |
29.96 |
4309 |
7770 |
074 |
90.77 |
21.37 |
46.39 |
3819 |
6840 |
075 |
69.43 |
8.81 |
40.36 |
4199 |
7690 |
076 |
98.33 |
16.76 |
55.26 |
3892 |
8100 |
077 |
74.01 |
11.58 |
47.55 |
3947 |
7220 |
078 |
87.97 |
13.41 |
54.25 |
3869 |
6770 |
079 |
63.61 |
4.02 |
40.25 |
4950 |
6970 |
080 |
94.34 |
20.03 |
58.52 |
3829 |
7130 |
081 |
98.69 |
- |
- |
30 |
60 |
082 |
90.74 |
18.41 |
56.66 |
3843 |
7430 |
083 |
37.43 |
0 |
19.02 |
3963 |
5180 |
084 |
67.76 |
6.77 |
43.83 |
3777 |
7540 |
085 |
113.63 |
31.33 |
63.12 |
3474 |
6220 |
Notes:
- Holes 049 through 056 which were drilled to target shallow
industrial clay resources for Lithium Americas’ subsidiary,
RheoMinerals Inc, were not tested for lithium, and therefore are
not presented in this table.
- All holes are vertical (90o) except for hole LNC-083 (Az: 180o
Dip -60o).
A photo accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Download/655b66d3-41b8-4802-b661-7bb9918195c0
Figure Notes: Figure 3a has the same approximate location of the
inset box in Figure 1a. The location of Figure 3b is shown by the
inset box in Figure 3a.
A photo accompanying this announcement is available at
http://resource.globenewswire.com/Resource/Download/9303f71b-58d8-40c8-a447-cf8c8ed7822d
Quality Assurance and Quality
ControlThe data collection and analysis procedures
employed to develop the information presented in this disclosure
use industry-standard quality techniques and procedures.Sampling
procedure and assaying methods were as follows:
- Drilled core was brought from the field to the Company’s core
shed located in Orovada, Nevada. The boxes of core were
logged, photographed, cut and sampled by Company employees and
consultants. The geologist determined the length of the assay
samples by lithology and averaged 1.73 m. The core was cut in half
with diamond blade saws, using fresh water, and half bagged for
sampling. For duplicate samples, one half of the core is cut in
half again and the two halves are bagged and sampled separately to
test sampling and assay precision. Each sample was assigned a
unique identification number to ensure security and anonymity.
Randomly inserted in the sample stream were QA/QC samples, which
represent 10.1% of the total assays. The QA/QC samples include
blanks to test for contamination, high and low-grade lithium
standards to test for accuracy and duplicates to test for
precision.
- Drilled core samples were collected from the core shed by ALS
Minerals (“ALS”) and transported to their lab in
Sparks, Nevada. At ALS, the samples were dried at a maximum
temperature of 60 degrees Celsius and the entire sample was then
crushed with a jaw crusher to 90% passing a ten-mesh screen.
Nominal 250 gram splits were taken for each sample using a rifle
splitter. This split is pulverized using a ring mill to 90% passing
a 150-mesh screen.
- ALS’ analysis included four-acid digestion and inductively
coupled atomic emission plasma spectroscopy to ensure that elevated
metal concentrations were not present, which would interfere with
inductively coupled plasma mass spectroscopy analyses.
QA/QC protocols included:
- High, low and blank standards were inserted in random sampling
intervals. These samples were also assigned a blinded sample
identification number.
- Duplicate samples were taken every 30.48 meters. Each was
assigned a blinded identification number.
QA/QC statistical evaluations and results:
- Three low grade samples out of 63 assays fell outside the
certified two standard deviation. All three were within 20ppm of
falling within the two standard deviation criteria. All high-grade
samples were within the certified two standard deviations.
- All blank standards reported less than 65ppm Lithium.
- All assay standards showed minimal bias drift with time.
- 178 duplicate ¼ core samples, 356 assays, returned a R2
correlation value of 0.9915.
The scientific and technical information
disclosed in this news release relating to the Resource Estimate
has been prepared and approved by Louis Fourie, P. Geo., Pri.
Sci. Nat., of WorleyParsons Canada Inc., a “Qualified Person" under
NI 43-101, and an independent consultant to the Company. Mr. Fourie
reviewed or developed the following types of information for the
resource calculation:
- Geological maps and cross sections;
- Block model methods, parameters, tabulations, and model
results;
- Estimated mining and process costs; and
- Resource determination procedures and results to assure
reasonable expectation of economic extraction.
Readers are cautioned that mineral resources
that are not mineral reserves do not have demonstrated economic
viability.
All other scientific and technical information
disclosed in this news release has been reviewed and approved by
Randal Burns, Senior Project Geologist at Lithium Nevada, and a
"Qualified Person" as defined in NI 43-101.
Mr. Burns has verified the data disclosed in
this news release and no limitations were imposed on the
verification process. In the course of data verification, and for
purposes of QA/QC, Mr. Burns, among other things, reviewed or
developed the following types of information for the deposit:
- Geologic maps and cross sections
- Block model methods, parameters, tabulations, and model
results
- Estimated mining and process costs
- Resource determination procedures and results to assure
reasonable expectation of economic extraction
- Sampling procedure and assaying methods
- QA/QC protocols and results, including: • Analysis of
inserted standards• Analysis of inserted blanks• Confirmation
of assays from a check lab• Reverse Circulation
versus Diamond Drilling• ¼ core sampling and assay versus
½ core sampling and assay• Spot checks of the data base
against original certificates of assay• Statistical
evaluations and studies
- Checked reliability of historic information and established
protocol for acceptance or rejection of legacy data
Other than as described in the Company's annual
filings (which are available at www.sedar.com), there are no
known legal, political, environmental or other risks that could
materially affect the potential development of the mineral
resources at this point of time.
About Lithium Americas
Lithium Americas, together with SQM, is
developing the Cauchari-Olaroz lithium project, located in Jujuy,
Argentina, through its 50% interest in Minera Exar. In addition,
Lithium Americas owns 100% of the Lithium Nevada project, and
RheoMinerals Inc., a supplier of rheology modifiers for oil-based
drilling fluids, coatings, and specialty chemicals. The Company
trades on both the Toronto Stock Exchange and on the New York Stock
Exchange, under the ticker symbol “LAC”.
Forward-looking statements
Statements in this release that are
forward-looking information are subject to various risks and
uncertainties concerning the specific factors disclosed here and
elsewhere in the Company's periodic filings with Canadian
securities regulators. Forward-looking information in this news
release includes, but is not limited to, the timing and completion
of PFS, baseline environmental surveys, the 2018 drill program,
major mine plan permitting and detailed engineering work.
When used in this document, the words such as “intent”, “target”,
“expect”, “estimated” and “scheduled” and similar expressions
represent forward-looking information. Information provided in this
document is necessarily summarized and may not contain all
available material information.
All such forward-looking information and
statements are based on certain assumptions and analyses made by
Lithium Americas management in light of their experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors management believes
are appropriate in the circumstances. These statements, however,
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking information
or statements. Important factors that could cause actual results to
differ from these forward-looking statements include those
described under the heading "Risks Factors" in the Lithium
Americas’ most recently filed Annual Information Form and other
continuous disclosure filings. The Company does not intend,
and expressly disclaims any obligation to, update or revise the
forward-looking information contained in this news release, except
as required by law. Readers are cautioned not to place undue
reliance on forward-looking information or statements.
For further information contact:
Lithium Americas Corp.
Investor Relations
Suite 1150 – 355 Burrard Street
Vancouver, BC, V6C 2G8
Telephone: 778-656-5820
Email: ir@lithiumamericas.com
Website: www.lithiumamericas.com
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