Company aims to proceed with exploration of large area brine resource potential located within the heart of South American Lithium Triangle
VANCOUVER, BC–(Aug 3, 2017) – Liberty One Lithium Corp. (“Liberty One Lithium” or the “Company”) (TSX VENTURE: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T), an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits, is pleased to announce that it has completed and filed a National Instrument 43-101 compliant technical report regarding its 39,183 acre mineral option in the Pocitos Salar located in the Altiplano-Puna region of South America known as the Lithium Triangle, a region proven to host the largest portion of lithium brine resources in the world.
Highlights of the Technical Report are as follows:
- Previous, and in some instances historic, exploration followed up with geophysics, suggests that multiple brine-bearing aquifers may occur to a depth of some 450 meters, with a particularly responsive target between 200 to 450 meters depth.
- More recent geophysics studies published by Liberty One Lithium and others, including partner-operators Millennial Lithium (TSX VENTURE: ML) (FRANKFURT: A3N2) (OTCQB: MLNLF), targeted various parts of the salar, and all indicate the potential for brine bearing sediments at depth.
- The author notes that recent developments in other lithium resource areas have shown that the more highly enriched brine resources and more transmissive aquifers are found at greater depths in the salars of the region.
- The author summarizes that the Pocitos West project appears productive for lithium and suggests that it offers a reduced level of risk justifying further exploration efforts and expenditures.
- Recommendations conclude the large target (150 square kilometers) can be tested to determine the potential for development of a resource in a rather short time. If initial deep reconnaissance drilling is successful in identifying lithium-bearing brine of commercial interest, further exploration work will be undertaken to determine the resources of lithium in brine, the effective recovery of brine, and the economic viability and subsequent mining and refining operations.
- A proposed staged workplan will be presented to the board for approval and is outlined within the report.
Company CEO, Brad Nichol, stated, “We are thrilled with this report, as it confirms Liberty One’s enviable position within the Lithium Triangle. The report also endorses at least one of the three pillars upon which Liberty One was built — Location. Within the roughly 400km x 400km famous Lithium Triangle we have secured what could become a prolific lithium asset that lies within 40km of several successful and significant lithium brine discoveries. A world-class team, Liberty One’s second pillar, has bolstered its impressive track record by the strength of this report. Finally, Liberty One’s third pillar, capital discipline, should be mentioned, as the Company has demonstrated the foresight to have successfully raised sufficient capital to undertake a staged work plan and fund operations for the next year.” Nichol added, “These are the three principles upon which I made my decision to join, and make a significant investment in, Liberty One. My assessment was disciplined and researched, and this report is the very first step in validating that decision.”
The technical report entitled “Technical Report on the Pocitos West Project, Salta Province, Argentina” dated effective June 22, 2017 in accordance with National Instrument 43-101 – “Standards of Disclosure for Mineral projects” provides extensive details of the Pocitos West Project under option by Liberty One Lithium. The Technical Report was prepared by Nivaldo Rojas, FAusIMM of Rojas Mining Advisors, a “qualified person” for the purposes of NI 43-101.
As previously disclosed, the Company was granted the sole and exclusive right and option to acquire up to an eighty (80%) percent undivided beneficial right, title and interest in the Property pursuant to a mineral option and joint venture agreement with Millennial Lithium Corp. (see press release dated June 15, 2017).
Readers are cautioned that this Technical Report was prepared to fulfill continuous disclosure requirements and the Technical Report does not disclose a compliant resource estimate. A copy of the Technical Report has been filed on SEDAR.
Nivaldo Rojas, FAusIMM, 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
“/s/ Brad Nichol”
President & CEO
About Liberty One Lithium (TSX VENTURE: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T)
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 strategic 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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