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.
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.
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
For further information: LSC Lithium Corporation: Jessica Helm, VP, Corporate Communications and Investor Relations, Suite 3001, 1 Adelaide Street East, Toronto, Ontario M5C 2V9, (416) 867 9298, Email: [email protected], Website: lsclithium.com