Liberty One Lithium Provides Update on Accelerated Brine Resource Study in Argentina and Related Corporate Events
Marketwired
VANCOUVER, BC--(Marketwired - Sep 19, 2017) - Liberty One Lithium Corp. ("Liberty" or the "Company") (TSX VENTURE: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T), is pleased to advise that Brad Nichol, CEO of Liberty One recently returned from an extensive visit to the Company's Pocitos West Property in Argentina and reports on current and future planning efforts.
As a direct result of its recently announced geophysical survey findings (see August 17, 2017 press release) the Company has submitted the requisite environmental and drilling applications in order to accelerate a study of the prospective thick, contiguous probable brine horizon suggested by geophysics throughout the entire 29km length of its mining property. Given the regional nature of lithium brine assets in the immediate area, the Company believes the potential for brine to exist beneath the majority of the 39,000-acre property license is highly probable.
In order to further evaluate the property, the Company and its operators have developed an operational plan in anticipation of imminently receiving the permit to drill up to 11 test holes. At this time, the Company expects to commence drilling operations in Q4 2017.
Anticipated results include determination of the geology, lithology and refinement of the existing geophysical interpretation. This includes brine sampling in order to better understand the chemistry, including lithium and potassium, amongst others. In addition, the proposed program will likely include a production-scale pumping test along with core sampling to determine N.I. 43-101 regulatory compliant porosity and permeability, which will be used in future resource determinations.
Upon concluding his visit to the property, Company CEO, Brad Nichol noted, "I am extremely pleased with the progress and results the Company has achieved to-date." Nichol continues, "The last 30 days have reinforced my decision to make a significant investment in Liberty One and join the Company. I am confident we have the necessary components in place to build a large, successful lithium production company. We have the world's preeminent go-to lithium team based in Argentina, led by a former 29-year Rio Tinto lithium expert and supported by local mining industry veterans including chemists, geologists, engineers, laboratory personnel, operators as well as one of the region's foremost mining legal firms with extensive lithium brine experience."
The Argentinian property is located in Salta Province, which is ranked by respected Fraser Institute analysts as the #1 jurisdiction in Argentina and #3 locale in all of Latin America to do business. It is ideally proximal to a large diameter natural gas transmission line, high-voltage power and rail transportation. A national highway runs through the middle of the property and continues into Chile to an all-weather, all-year, deep-water port. The property is virtually surrounded by lithium discoveries, reserves and production, all of which are positioned in the renowned Lithium Triangle where over half of the world's lithium is currently produced.
In related news, the Company further reports from the United States where it holds an interest encompassing approximately 4,000 acres of mining licenses in the Paradox Basin of southeastern Utah. Liberty One Lithium has recently made an annual lease payment to maintain the mineral licenses in good standing in order to further study and evaluate future opportunities and activities proposed for this extensive asset.
Regarding corporate activities, Mr. Nichol notes that effective and efficient sourcing and deployment of capital are vitally important to the Company. He affirms this by stating, "Near to my heart is the successful deployment of our rarest commodity, our investors' cash. I have based a large part of my career on spending capital like it is scarce and difficult to obtain -- which it is, especially for a junior exploration company."
Nichol adds, "I aim to work tirelessly in the pursuit of creating a highly successful lithium company that investors want to own. The Company is built on three core fundamentals that align directly with my vision for success: 1. Team: a world-class, highly desired team; 2. Location: assets of considerable scale, all with enviable lithium addresses and a line of sight to imminent and significant lithium production; and 3. Capital Management: our ability to raise a large amount of capital at successively higher valuations is a testament to the professionalism and quality of our assets along with the trust of our long-standing shareholders in our ability to manage their capital."
Iain Scarr, an arm's length party to the Company, is the Qualified Person responsible for the technical disclosure in this news release.
ON BEHALF OF THE BOARD OF DIRECTORS "/s/ Brad Nichol"
Brad Nichol President & CEO
About Liberty One Lithium (TSX VENTURE: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T) Liberty One Lithium Corp. is a lithium 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.
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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