Company to explore Pocitos Salar in JV with Millennial Lithium
VANCOUVER, BC–(Jun 15, 2017) – Liberty One Lithium Corp. (“Liberty One” or the “Company”) (TSX VENTURE: LBY) (OTC PINK: LRTTF) (WKN: A2DHMB), an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits, is pleased to announce closing of a mineral option and joint venture agreement with Millennial Lithium Corp. of Vancouver, BC (TSX VENTURE: ML) (FRANKFURT: A3N2) (OTCQB: MLNLF).
The agreement grants Liberty One Lithium the sole and exclusive right and option to acquire up to an eighty (80%) percent undivided beneficial right, title and interest in the Pocitos West project in Argentina consisting of a total area of 15,857 Ha (approx.39,000 acres) along the western portion of the Pocitos Salar located in Los Andes Department, western Salta Province. The project is ideally located directly in the middle of the Argentinian segment of the well-known lithium triangle. Terms and conditions of the agreement have been filed as part of the Company’s ongoing regulatory disclosure obligations, and are available at www.sedar.com.
The 60-kilometre-long Pocitos salar basin was previously drill tested with 12 shallow holes in 1979 by an Argentine government agency, the Direccion General de Fabricaciones Militares (DGFM). The most significant result from the historical work program includes a shallow drill hole, which averaged 417 parts per million (ppm) lithium and 15,300 ppm potassium. The results of these holes and the sampling conducted are historical in nature and cannot be confirmed by the Company under National Instrument 43-101 standards of exploration applicable today.
Geologically, Salars are topographically depressed and surrounded by hills and mountains. The salar basins are filled with surface runoff and subsurface flow from the surrounding high terrain. The sediments are the product of erosion of the mountain around the salars, which tend to mask the actual size of the salt flats as shown at surface. Most of the advanced stage projects in Argentina are extending their resource below the alluvial fans. At the Pocitos West project area, previous geophysics profiles indicate that the body of brine extends toward the west beneath the alluvial fans on-trend with the Liberty One property at depths of up 500 feet or more.
Company President Brad Hoeppner states, “We have recently completed a detailed field inspection with our JV partners and had an opportunity to meet with several operators in the area. Examination of sampling efforts that were underway at an adjacent claim area were extremely interesting and we are preparing to move ahead with our initial NI 43-101 report with an aim to ready work plans in accordance with our agreement. We look forward to moving our project ahead to build shareholder value as a result of our efforts.”
Iain Scarr, AIPG, CPG, an arm’s length party to the Company, is the Qualified Person responsible for the technical disclosure in this news release, in accordance with National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
About Liberty One Lithium (TSX VENTURE: LBY) (OTC PINK: LRTTF) (WKN: A2DHMB)
Liberty One Lithium Corp. is an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits. The Company believes that global resources are the key to a robust energy strategy to protect economic stability worldwide. Find out more at: www.libertyonelithium.com.
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “anticipates”, “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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