Lithium X develops Sal de los Angeles lithium resource with
all permits in good standing, and with no well blow-outs
VANCOUVER, Sept. 25, 2017 /CNW/ - Lithium X Energy
Corp. (TSXV: LIX) (OTCQX: LIXXF) ("Lithium X" or the
"Company") is pleased to announce the results of the recently
completed drill program at its wholly owned Sal de los Angeles
project, which covers 95% of the Salar de Diablillos, Salta
province, Argentina. The drill
program consisted of three exploratory diamond drill holes
targeting undrilled portions of the basin north of the existing
brine resource, and two sonic drill holes in known areas to enhance
porosity and stratigraphic data.
Paul Matysek, Executive Chairman
of the Board of Directors of Lithium X, commented "The positive
results from our recently completed work program both expand the
known brine areas to the north, past our current resource boundary,
and confirm positive conditions for the establishment of a well
field. Once all samples have been received we will have all the
necessary information to complete a comprehensive dynamic model of
the entire basin to support a feasibility study and reserve
estimates. We are very pleased to have successfully demonstrated
potential resource expansion and favourable well-field
conditions."
Diamond drill holes DDD-08 to DDD-10
Three diamond drill holes were completed to bedrock depths
covering the northern basin extension defined by the previously
completed seismic survey. (Refer to Figure 1: Sal de los
Angeles Drill Program, which can be found on the Company's website
at www.lithium-x.com).
DDD-09, drilled in the center of the northern basin extension
intersected 564 mg/l Li over 179.5 metres starting at 84 metres
below surface. The horizon is comprised of a single aquifer
dominated by sands and gravels down to the basement interface at
244 metres, where highly fractured bedrock material hosts brine
down to 263.5 metres. Brine sampling was conducted using drive
point technology to ensure in-situ sampling and corroborated using
a packer system.
Diamond drill holes DDD-08 and DDD-10 were drilled on the edges
of the northern basin extension and intersected the same sand and
gravel dominated aquifer. The drill holes intersected brine
intervals of 400 mg/l over 7.5 metres and 581 mg/l over 68 metres.
Average magnesium to lithium and sulphate to lithium ratios in the
three drill holes range from 3.5 to 4.1 and 9.1 to 14.0
respectively, showing very similar brine characteristics to
established resource brines. These drill holes successfully
demonstrate brine continuity throughout the northern portion of the
basin all the way to the basin margins.
Drill recoveries during the program ranged from 40% to 100%,
showing a marked improvement over historical recoveries in the
basin. 93 samples consisting of 15 cm intervals of drill core were
collected and sent from Relative Brine Release Capacity ("RBRC")
testing. RBRC testing provides valuable porosity data to help
determine specific yield of the aquifer materials.
Sonic drill holes DSO-01 and DSO-02
Two sonic drill holes were completed within known resource
limits. DSO-01 was drilled just north of the salar surface where
the proposed well-field is contemplated. The hole was drilled to
the rig's maximum depth of 179 metres, encountering brine from 47
metres below surface to the end of the hole. The 132 metres
intersection averaged 571 mg/l Li with the bottom 54 metres
averaging 637 mg/l Li. Magnesium to lithium and sulphate to lithium
ratios averaged 3.5 and 9.6 respectively over the 132 metre brine
column. DSO-01 intersected a single aquifer dominated by sands and
gravels, lithologies typically possessing favourable pumping
conditions.
DSO-02 was drilled in the southern portion of the basin, with
the primary purpose of providing additional stratigraphic and
porosity data in order to enhance the confidence level of this
area, where a large portion of the inferred resource is located.
Both sonic drill holes averaged over 87% recovery and a total of 76
samples were sent for RBRC testing. Final brine sample results for
DSO-02 and all RBRC results have not been received by the Company.
These additional results will be released as received by the
Company.
Further to false rumours circulating, the Company can confirm
that sustained artesian conditions resulting in well blow-outs were
not encountered during this drill program nor during any other
activities on the Project during Lithium X's ownership or control
of SDLA, contrary to false rumours about the Company circulating
online. All permits received in regards to the completed work
programs (drilling, pumping tests, and seismic surveys) and the
construction of the Initial Ponding Facility are in good standing
and have not been revoked, suspended or in any way materially
affected by any government agency or other authority. The Company
continues to develop the Project in accordance with these
permits.
The technical information contained in this news release has
been reviewed and approved by William
Randall, P.Geo, who is a Qualified Person as defined under
NI 43-101. As Vice-President Project Development of the
Company, Mr. Randall is not considered independent. The drill
program was jointly designed and supervised by the Company and
FloSolutions Chile.
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. The Company holds two
projects in in the prolific "Lithium Triangle" in mining friendly
Salta province, Argentina as well
as participating in the Clayton Valley in Nevada through its ownership interest in Pure
Energy Metals ("Pure Energy"). The Company's wholly-owned flagship
project is the Sal de los Angeles lithium brine project. The
project consists of 8,154 hectares covering 95% of Salar de
Diablillos, and has a 43-101 mineral resource estimate of 1.037
million tonnes of lithium carbonate equivalent in the indicated
category and 1.007 million tonnes of lithium carbonate equivalent
in the inferred category. The Company's second Argentinian
project, the Arizaro lithium brine project, consists of 33,846
hectares covering part of the western and eastern portions of the
Salar de Azario, one of the largest known salt lakes in the
world. In Nevada, the Company consolidated its Clayton
Valley holdings with those held by Pure Energy, in the process
becoming Pure Energy's largest shareholder, holding 19.9% of Pure
Energy's outstanding common shares and share purchase warrants
that, if exercised immediately, would increase its ownership
interest to 22.5%. Pure Energy's combined holdings in Clayton
Valley consist of more than 10,500 hectares (approximately 26,300
acres).
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
Executive Chairman
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accuracy of this news release.
This news release contains certain forward-looking
information and forward-looking statements within the meaning of
applicable securities legislation (collectively "forward-looking
statements"). Certain information contained herein constitutes
"forward-looking information" under Canadian securities
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actions, events or results "will" occur. Such information includes,
but is not limited to the use of proceeds from the Offering.
Forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made and they are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company to be materially different from
those expressed by such forward-looking statements or
forward-looking information, including the business of the Company,
the speculative nature of mineral exploration and development,
fluctuating commodity prices, competitive risks, and delay,
inability to complete a financing or failure to receive regulatory
approvals. Although management of the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements and forward looking information. The Company does not
undertake to update any forward-looking statements or
forward-looking information that are incorporated by reference
herein, except as required by applicable securities
laws.
SOURCE Lithium X Energy Corp.