Highlights:
- NI 43-101 Mineral Resource Estimate of 194,860 tonnes of
lithium (1,037,000 tonnes of lithium carbonate equivalent) of
Indicated, and 189,130 tonnes of lithium (1,007,000 tonnes of
lithium carbonate equivalent) in Inferred category.
- Significant potash by-product resource of 2,143,491 tonnes of
potassium (4,088,000 tonnes of potassium chloride) Indicated, and
2,068,161 tonnes of potassium (3,948,000 tonnes potassium chloride)
Inferred.
- High average grade of Indicated resource of 501 milligrams per
litre (mg/L) lithium and 5,512 mg/L potassium
- Low average magnesium to lithium ratio of 3.8
- Feasibility Study underway
VANCOUVER, Aug. 30, 2016 /CNW/ - Lithium X Energy Corp.
("Lithium X" or the "Company") (TSX-V: LIX) (OTCQB:
LIXXF), is pleased to report the filing of a National Instrument
43-101 technical report prepared by FloSolutions (Chile), dated August
30, 2016 and entitled Resource Estimate for Lithium &
Potassium, Sal de los Angeles Project, Salta (Argentina) containing its first independent
lithium ("Li"), potassium ("K") and boron ("B") resource estimate
for the Sal de los Angeles brine project at Salar de
Diablillos (the "Project"). Lithium X holds a 50% interest in
the Project and can acquire an additional 30% interest (see
March 3, 2016 news release).
The NI 43-101 resource estimate, prepared by FloSolutions
and summarized in Table 1 below, includes an Indicated component of
194,860 tonnes of lithium at an average grade of 501 milligrams per
litre ("mg/l") (1,037,000 tonnes of lithium carbonate equivalent)
("LCE") and 2,143,491 tonnes of potassium at an average grade of
5,512 mg/l (4,088,000 tonnes of potash ("KCl") equivalent).
The resource estimate also established an inferred resource of
189,130 tonnes of lithium at 410 mg/l (1,007,000 tonnes of LCE) and
2,068,161 tonnes of potassium at 4,489 mg/l (3,948,000 tonnes KCl
equivalent).
The resource estimate establishes Sal de los Angeles as a large
and high grade undeveloped lithium brine project, with a
Feasibility Study underway.
Brian Paes-Braga, Founder and CEO
of Lithium X, commented, "This resource estimate confirms the
significance of the Sal de los Angeles deposit and will form the
basis of a Feasibility Study. Our experienced operating team, led
by Eduardo Morales, continues with
ongoing processing and engineering work. These are major steps
towards bringing Sal de los Angeles into commercial
production."
Table 1. Sal de
los Angeles Brine Resource Statement
|
|
|
|
|
Indicated
|
Inferred
|
|
Li
|
K
|
B
|
Li
|
K
|
B
|
Aquifer area
(km2)
|
|
22.2
|
|
|
32.4
|
|
Aquifer volume
(km3)
|
|
3.195
|
|
|
3.807
|
|
Mean specific
yield
|
|
12.2%
|
|
|
12.0%
|
|
Brine volume
(km3)
|
|
0.390
|
|
|
0.457
|
|
Mean grade
(g/m3)
|
60.8
|
668.5
|
67.6
|
49.3
|
539.0
|
60.7
|
Eq, concentration
(mg/L)
|
501
|
5,512
|
556
|
410
|
4,489
|
505
|
Resource
(tonnes)
|
194,860
|
2,143,491
|
216,807
|
189,130
|
2,068,161
|
232,601
|
Notes to this
resource statement:
|
|
- CIM definitions were followed for Mineral
Resources.
- The Qualified Person for this Mineral Resource estimate
is Frits Reidel, CPG.
- The Qualified Person relied entirely on data provided
by Lithium X Energy Corp. for the preparation of the resource
estimate and no independent data collection was carried out to
verify the accuracy of the data provided by Lithium X Energy
Corp.
- A lithium cut-off concentration of 100 mg/L has been
applied to the resource estimate.
- Numbers may not add due to rounding.
|
The effective date is
August 29, 2016.
|
|
The reader is
cautioned that mineral resources are not mineral reserves and do
not have demonstrated economic viability.
|
|
"The deposit is open to the north, where Lithium X has the
opportunity to grow the resource through further drilling,"
commented Paul Matysek, Executive
Chairman of Lithium X.
"The indicated resource defines a high-grade core in the
northern portion of the basin that will be the focus of further
work leading to the design of a production well field in this
area," Matysek said. "We expect to continue advancing the project
at a fast pace and converting the indicated resource into
reserves."
"The overall quality of the brine continues to impress with its
low level of impurities," commented Eduardo
Morales, Chief Operating Officer of Lithium X. "We now have
an indicated resource allowing us to develop a Feasibility level
study. Lithium X is assembling a team of in-house and external
consultants, led by Andres
Barrientos and myself, to advance Sal de los Angeles through
feasibility and on to construction as efficiently as possible."
"The quality and quantity of the Sal de los Angeles brine should
allow for a world-class operation. We intend to demonstrate the
viability of such an operation in the coming months," Morales
said.
The resource estimate was prepared in accordance with the
guidelines of National Instrument 43-101 and uses best practice
methods specific to brine resources, including a reliance on core
drilling and sampling methods that yield depth-specific chemistry
and drainable porosity measurements. The resource calculations were
also confirmed using two different resource models. The work was
completed by independent qualified person Mr. Frits Reidel of international hydrogeology firm
FloSolutions.
The resource is defined by reverse circulation and core
drilling, but it has also been sampled by low-flow pumping and
pumping tests in numerous locations. The footprint of the resource
is 55 square kilometres. The new Indicated, and Inferred resource
incorporates 21 reverse circulation holes and 7 diamond drill core
holes, for a total of 6,270 metres of drilling in 28 holes. This
equates to nominal drill spacing of 2 boreholes per square
kilometre. Over most of the basin, the brine resource comes to
within a few metres of the surface and its thickness is defined by
the basement contact, which itself was defined by drilling and
seismic tomography surveys. The brine resource was defined from 5
metres to more than 185 metres depth in one area.
The resource estimate confirms the favourable chemistry of the
Sal de los Angeles brine. The low magnesium to lithium ratio has
been shown to be a significant factor in reducing the use of common
reagents employed during lithium concentrate production using
conventional solar ponds. Some important parameters of the
brine composition are:
- Average density of the brine: 1.10 g/cm3
- Average Magnesium/Lithium ratio: 3.8
- Average Sulphate/Lithium ratio: 14.6
Based on the geological model, approximately 95% of the brine
volume in this resource is hosted by predominantly sand and gravel
aquifers; the balance is hosted in silt or clay dominated
units.
The total contained lithium and potassium values are based on
measurements of drainable porosity distributed throughout the
aquifer volume that defines this resource and by pump tests
performed within the indicated portion of the resource estimate.
These methods of porosity determination, or specific yield, are
designed to estimate the portion of the total porosity that can
reasonably be expected to be drained by pumping; however, these in
situ estimates may differ from total extractable quantities. The
porosity of the resource volume varies with geology and the average
for the entire database is approximately 12%. These porosity values
compare favourably to other unconsolidated, clastic basins similar
to Diablillos.
Resource Estimation Methodology
The resource estimate was developed for the Lithium X Sal de los
Angeles Project using SgeMS software. Dr. Gregoire Mariethoz, Professor at the University
of Lausanne, Switzerland led the
numerical model effort to develop the resource estimate. The
author was in close communication with Dr. Mariethoz throughout the
model development process; all results have been reviewed and
checked at various stages and are believed to be valid and
appropriate for these resource estimates.
The total resource is calculated by multiplying, on the entire
grid, the lithium concentration by the porosity. The overall
resource is then estimated by taking the average of this weighted
concentration on the entire grid.
The following steps were carried out to calculate the lithium,
potassium and boron resources.
1) Adjust a variogram on the data in x, y and z directions.
2) Definition of model grid (52,154 nodes) and node size (x =150
m, y=150, z=6m).
3) Interpolation of Li, K B and Specific Yield in each node in
g/m3 using kriging with the variogram models of step 1.
4) Calculation of total resource.
5) Preparation of grade-tonnage curve for Li.
The primary analytical laboratory for the data used in this
resource is ALS Environmental laboratory of Fort Collins, Colorado. ALS labs are
accredited to ISO 9001:2008 and ISO14001:2004 for its geochemical
and environmental labs for the preparation and analysis of numerous
sample types, including waters. The details of analytical
methodologies and quality assurance protocols are reported in the
NI 43-101 technical report for the project, which is filed on
SEDAR.
The porosity determinations were made by Daniel B. Stephens & Associates, Inc. Soil
Testing and Research laboratory of Albuquerque, New Mexico. For 30 years, the
DBS&A Soil Testing & Research Laboratory has been the
premier provider of consistent and reliable soil properties
testing. It is also the go-to facility for research, development,
and implementation of novel technologies and instruments to aid in
successful project outcomes and project cost reductions. The
laboratory adheres to standardized testing methods and industry
accepted procedures established by the American Society of Testing
and Materials (ASTM), American Association of State Highway and
Transportation Officials (AASHTO), Methods of Soil Analysis (MOSA),
American Petroleum Institute (API), American Society of Agronomy
(ASA), and procedures developed and patented by DBS&A
personnel.
The resource estimate and the information in this news
release have been prepared and reviewed by Mr. Frits Reidel. Frits Reidel is a consulting hydrogeologist and
is a Member of the American Institute of Professional Geologists.
Mr. Reidel has sufficient relevant experience to qualify as a
"Qualified Person" as defined in NI 43-101. Mr. Reidel has worked
on lithium resource estimates for numerous brine projects including
Salar de Hombre Muerto, Salar de Olaroz, Salar de Cauchari and
Salar de Maricunga. Frits Reidel
consents to the inclusion in this announcement of this information
in the form and context in which it appears.
About Lithium X Energy Corp
Lithium X Energy Corp. is a lithium exploration and development
company with a goal of becoming a low-cost supplier for the
burgeoning lithium battery industry. Lithium X owns 50%, and
has the option to acquire up to 80%, of the Sal de los Angeles
lithium brine project in the prolific "Lithium Triangle" in mining
friendly Salta province, Argentina, a well-known salar with positive
historical economics, grade and size. Lithium X is also exploring a
large land package in Nevada's
Clayton Valley, contiguous to the
only producing lithium operation in North
America – Silver Peak, owned and operated by Albemarle, the
world's largest lithium producer. Lithium X is listed on the TSXV
under the trading symbol LIX.
For additional information about Lithium X Energy Corp., please
visit the Company's website at www.lithium-x.com or
review the Company's documents filed
on www.sedar.com. Join the Company's email list
at http://lithium-x.com/subscribe.
ON BEHALF OF THE BOARD OF DIRECTORS
"Paul Matysek"
Paul
Matysek
Executive Chairman
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SOURCE Lithium X Energy Corp.