Liberty One Lithium (LBY:CA) (LRTTF) Permitting Approval Propels Drilling Commencement At Pocitos West Salar, Argentina
Liberty One Lithium Corp.(LBY:CA)(LRTTF) has received the requisite environmental and drilling permits for its Pocitos West property in the Salta province of northern Argentina. As a result, the Company, with sufficient cash on hand to fully-fund its drilling program, intends to commence drilling before the end of October.
The Company is currently organizing local logistics and support, and has secured a drill rig that is known to have performed well in the past.
Company CEO, Brad Nichol notes, "We will start off with a sample hole in the southern segment of the property, drilling rotary only and packer sampling to identify brine and lithium. We will drill initially to 300 meters, stop to sample, and while awaiting expedited results, we will continue down to find basement or whatever might define a "bottom" to the brine section. We are looking for lithium content above 100 mg/L and if porosities range above 20%, as can be anticipated in a sandy aquifer, the size of the "storage space" within the horizon will be greatly expanded."
"While progressing north to the second site in the central portion of the mining licenses," continues Mr. Nichol. "We could simultaneously proceed to install a production-size well, and drill an adjacent rotary/core hole for aquifer characterization, including detailed lithology and core sampling for effective porosity measurement."
Initial testing and results will drive "on the fly" options to drill additional holes throughout the considerable area of the possible brine horizon that could extend throughout the entire 29 km length of Liberty's property. Additional holes may provide the Company with further chemical, flow rate, porosity, lithology and core information that would ultimately lead to a more robust and detailed resource-focused drilling program in the future. The approvals grant the Company the option to drill up to 11 holes in this first round.
Mr. Nichol concludes, "The team in Argentina has once again demonstrated their proficiency and expertise. Not only did they receive the necessary permits without any issues, they also successfully completed the analysis of the previously announced Vertical Electrical Soundings ("VES") survey enabling us to choose some excellent drilling targets. I cannot understate the importance of having an experienced team in the field." Nichol adds, "Almost all of the drilling equipment is prepared and ready to mobilize and, if all goes well, we expect to have the initial drilling concluded in time for Christmas. The VES survey suggested that we have a thick, extensive and contiguous brine horizon; the objective now is to drill to determine the quality and lithium content within that reservoir. Drilling these holes is a very exciting milestone for the Company."
Liberty's claims are strategically located on the western-most side of the Pocitos Salar; purposely on -- or beyond -- the edges of the visible salt flats (the "Salars"). Over the years, erosion and drifting of top soils has caused the edges of the Pocitos Salar to be covered and hidden under alluvial fans. The highly-experienced local team has specialized in the pursuit of discovering lithium from Salars and has analyzed all available data to determine that these hidden Salar edges are more likely to contain higher porosity (volume) and higher permeability (flow rate) brine horizons. Liberty's drill program has been designed with these facts and data as primary criteria for success.
Iain Scarr, AIPG, CPG, a non-arm's length party to the Company, is the Qualified Person responsible for the technical disclosure in this news release.
About Liberty One Lithium
Liberty One Lithium Corp. is an exploration company focused on the acquisition and development of high grade lithium brine deposits. The extensive Pocitos West Argentinian property is based in the heart of the well-known "Lithium Triangle" and positioned on-trend within 25 km of several lithium producers. The property is ideally situated for lithium brine production via low-cost and well-proven evaporation methods, and is adjacent to substantive infrastructure and a skilled, experienced labour force. Liberty's international team is comprised of recognized technical experts that have focused on lithium for decades. The Company is stringently managed with a critical eye on value-creative decision making, aimed at ensuring the Company is well-capitalized and consistently creating value for shareholders. Read more at: www.libertyonelithium.com/about-us/summary.
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Source: Equities.com News
(October 17, 2017 - 8:50 AM EDT)
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