VANCOUVER, BC--(Marketwired - Aug 17, 2017) - Liberty One Lithium Corp. ("Liberty" or the "Company") (TSX VENTURE: 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 VENTURE: 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.