Company discovers thick, contiguous brine horizon across entire 29km length of Pocitos West Salar
VANCOUVER, BC (August 17, 2017) — Liberty One Lithium Corp. (“Liberty” or the “Company”) (TSX.V: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T), is pleased to announce tremendous results from its geophysical survey at its Pocitos West property in Argentina. The Company has detected a probable brine horizon extending throughout the entire 29 km length of Liberty’s mining property, suggesting the potential for lithium to exist beneath much of the Company’s 160 km2 licensed area. The survey also indicates that the depth of the conductive horizon is as much as 150 meters thick in a number of target locations.
The Company, through its operating partner Millennial Lithium Corp. (“Millennial”) (TSX.V: ML) (FRANKFURT: A3N2) (OTCQB: MLNLF), conducted a Vertical Electrical Soundings (“VES”) survey which detects variations in subsurface conductivity. As brine is highly conductive, it was the key subsurface target. Measurements collected at 11 stations along the 29 kilometer north-south extent of the tenements, based on comparative results with local and similar rock types bearing brines, indicates the possibility of a continuous, buried conductive horizon, contiguous with the salar lake beds. Thus, the entire 160 km2 of the property appears to contain subsurface brine, which suggests the potential for lithium mineralization throughout the property.
Company CEO, Brad Nichol, states, “The entire team – in Argentina and in Canada – is thrilled with this result, which has exceeded everyone’s expectations and is the first step in confirming the possibility of extensive, buried salar sediments through much of our property. We had hoped to find ‘sweet spots’ within our tenement, but were delighted to learn the entire length of our property may contain brine; and correspondingly, lithium. The results, and proximity on-trend to known lithium brine production 25 km to the north of our holdings, suggests the potential for the continuation of lithium brine beneath much of our property.” Nichol adds, “We have immediately undertaken the required actions to obtain all of the necessary permits so that we can commence drilling as soon as possible. It’s also worth noting that the drill program is fully funded with cash reserves already in our treasury. Liberty is well positioned to leverage the three most important core values to our board and myself: location, team and capital management.”
Based on the compelling results of the geophysical survey, the logical next step is to initiate a drill campaign on the property to test for chemistry, lithology, permeability and porosity. The Company has undertaken to provide all data necessary to obtain the requisite environmental and drilling permits. Simultaneously, our experienced team is in the process of examining the VES data in more detail to elect preliminary drill targets. Subject to receiving the regulatory approvals and permits, Liberty expects to commence drilling in Q4 2017, if not sooner.
This news release has been reviewed by Iain Scarr, AIPG CPG., Chief Operating Officer of the optionee of the property, Millennial Lithium Corp (TSX.V:ML) and a qualified person as that term is defined in National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
“/s/ Brad Nichol”
President & CEO
About Liberty One Lithium (TSX.V: LBY) (OTCQB: LRTTF) (FRRANKFURT: L1T)
Liberty One Lithium Corp. is an exploration company focused on the acquisition and development of high grade lithium brine deposits. Based in the heart of the well-known “Lithium Triangle” and positioned on-trend and within 25 km of several lithium producers, our extensive Pocitos West Argentinian property is ideally situated for lithium brine concentration via low-cost and well-proven evaporation methods, and is adjacent to excellent infrastructure and a skilled, experienced labour force. Liberty’s international team is comprised of recognized technical experts that have focused on lithium for decades, and is 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.
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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