QUEBEC, QUEBEC--(Marketwired - Aug 1, 2017) -
Editors Note: There is a map associated with this press release.
Nemaska Lithium Inc. ("Nemaska Lithium" or the "Corporation") (NMX.TO)(NMKEF) is pleased to announce diamond drilling results from the 2017 drill program at its 100%-owned Whabouchi lithium mine project. The 4,361-metre drill program combines definition drilling to a depth of 50 metres in the ''Five Year Starter Pit" between sections 200E and 700E as well as expansion drilling in the Doris zone located immediately to the SW of the main Whabouchi deposit.
Highlights from the assay results include:
- 2.35% Li2O over 26.75 metres from DDH WHA-17-222
- 2.13% Li2O over 33.70 metres from DDH WHA-17-221
- 1.49% Li2O over 90.80 metres from DDH WHA-17-232
- 1.36% Li2O over 82.30 metres from DDG WHA-17-234
Doris zone expansion:
- 1.37% Li2O over 42.00 metres from DDH WHA-17-201
- 1.53% Li2O over 22.50 metres from DDH WHA-17-202
"About half of our infill drill holes reported significant widths and grades above 1.5%, which is our reserve grade," commented Guy Bourassa, President and CEO of Nemaska Lithium. "This is consistent with the results of our bulk sample which was taken from the eastern end of the pit shell and had an average head grade of about 1.7% Li2O. This bodes well for our mine start-up, when project economics are so critical in terms of the capital payback." Bourassa continued, "I am also very pleased with the grade and width of the Doris Zone results which are all within the current pit shell. With the Doris discovery, what was previously recorded as waste rock is now ore. We will see the impact of Doris in future studies which are planned following the completion of our project financing."
Results below 0.5% were not reported. Significant assay results from 62 intercepts in the 48 drill holes are reported in the table below.
|Hole number||From (m)||To (m)||Interval (m) uncut||Li2O (%) uncut||Zone|
|WHA-17-222||18.00||44.75||26.75||2.353||5 Year Starter Pit|
|WHA-17-214||25.25||31.64||6.39||2.256||5 Year Starter Pit|
|WHA-17-221||11.40||45.10||33.70||2.130||5 Year Starter Pit|
|WHA-17-238||46.31||55.90||9.59||2.109||5 Year Starter Pit|
|WHA-17-223||15.00||34.90||19.90||1.997||5 Year Starter Pit|
|WHA-17-198||40.90||61.50||20.60||1.927||5 Year Starter Pit|
|WHA-17-204||1.50||43.50||42.00||1.850||5 Year Starter Pit|
|including||38.95||40.35||1.40||4.790||5 Year Starter Pit|
|WHA-17-223||43.72||58.18||14.46||1.857||5 Year Starter Pit|
|WHA-17-209||2.70||58.78||56.08||1.831||5 Year Starter Pit|
|WHA-17-233||76.36||91.80||15.44||1.790||5 Year Starter Pit|
|WHA-17-243||16.50||57.00||40.50||1.780||5 Year Starter Pit|
|WHA-17-219||21.00||36.00||15.00||1.763||5 Year Starter Pit|
|WHA-17-238||1.75||4.65||2.90||1.734||5 Year Starter Pit|
|WHA-17-208||2.30||13.50||11.20||1.730||5 Year Starter Pit|
|WHA-17-229||19.30||49.00||29.70||1.687||5 Year Starter Pit|
|WHA-17-224||9.50||48.05||38.55||1.676||5 Year Starter Pit|
|including||28.00||29.00||1.00||4.005||5 Year Starter Pit|
|WHA-17-197||72.00||91.50||19.50||1.645||5 Year Starter Pit|
|WHA-17-238||12.53||31.00||18.47||1.644||5 Year Starter Pit|
|WHA-17-226||1.90||28.22||26.32||1.630||5 Year Starter Pit|
|WHA-17-226||48.12||72.60||24.48||1.608||5 Year Starter Pit|
|WHA-17-205||7.00||44.28||37.28||1.618||5 Year Starter Pit|
|WHA-17-220||40.20||68.00||27.80||1.613||5 Year Starter Pit|
|WHA-17-223||69.77||77.00||7.23||1.604||5 Year Starter Pit|
|WHA-17-237||37.77||50.00||12.23||1.577||5 Year Starter Pit|
|WHA-17-207||2.31||16.14||13.83||1.559||5 Year Starter Pit|
|WHA-17-239||4.90||42.04||37.14||1.548||5 Year Starter Pit|
|WHA-17-228||3.00||6.00||3.00||1.543||5 Year Starter Pit|
|WHA-17-235||2.5||21.00||18.50||1.502||5 Year Starter Pit|
|WHA-17-232||8.20||99.00||90.80||1.494||5 Year Starter Pit|
|WHA-17-230||1.58||64.00||62.42||1.482||5 Year Starter Pit|
|WHA-17-210||1.30||22.00||20.70||1.477||5 Year Starter Pit|
|WHA-17-235||38.00||77.00||39.00||1.472||5 Year Starter Pit|
|WHA-17-212||1.45||16.00||14.55||1.466||5 Year Starter Pit|
|WHA-17-225||52.30||73.00||20.70||1.461||5 Year Starter Pit|
|WHA-17-236||1.66||16.58||14.92||1.436||5 Year Starter Pit|
|WHA-17-231||1.04||58.18||57.14||1.430||5 Year Starter Pit|
|WHA-17-227||17.12||40.20||23.08||1.423||5 Year Starter Pit|
|WHA-17-237||3.94||28.15||24.21||1.410||5 Year Starter Pit|
|WHA-17-224||73.00||90.00||17.00||1.367||5 Year Starter Pit|
|WHA-17-234||1.70||84.00||82.30||1.361||5 Year Starter Pit|
|WHA-17-242||2.55||9.00||6.45||1.341||5 Year Starter Pit|
|WHA-17-225||22.70||26.00||3.30||1.327||5 Year Starter Pit|
|WHA-17-217||2.10||6.00||3.90||1.308||5 Year Starter Pit|
|WHA-17-243||9.25||10.20||0.95||1.292||5 Year Starter Pit|
|WHA-17-213||22.30||28.00||5.70||1.291||5 Year Starter Pit|
|WHA-17-224||2.35||5.70||3.35||1.270||5 Year Starter Pit|
|WHA-17-233||1.34||71.55||70.21||1.211||5 Year Starter Pit|
|WHA-17-236||39.80||71.75||31.95||1.185||5 Year Starter Pit|
|WHA-17-211||4.00||6.50||2.50||1.184||5 Year Starter Pit|
|WHA-17-216||3.00||6.00||3.00||1.184||5 Year Starter Pit|
|WHA-17-222||72.50||78.80||6.30||1.141||5 Year Starter Pit|
|WHA-17-225||3.00||5.00||2.00||1.130||5 Year Starter Pit|
|WHA-17-237||65.00||72.00||7.00||1.120||5 Year Starter Pit|
|WHA-17-197||37.00||39.40||2.40||1.046||5 Year Starter Pit|
|WHA-17-210||25.15||29.20||4.05||0.789||5 Year Starter Pit|
|WHA-17-222||3.12||6.80||3.68||0.556||5 Year Starter Pit|
The drilling campaign was planned and supervised by Louis Caron, P. Geo. Samples were prepared by the SGS Canada Inc. laboratory in Quebec City and have been analyzed by the SGS Canada Inc. accredited laboratory in Lakefield, Ontario.
A QAQC program involving blank samples (3% of the sampling stream) and standard samples (3% of the sampling stream) has been established during sampling. Another 102 pulps have been re-assayed (6% of the sampling stream) for check samples. 5% of the mineralized samples will also be sent to ALS in Val d'Or for pulp duplicates. The work is carried out in accordance with the mining exploration guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum.
The technical parts of this press release were prepared by Louis Caron, P. Geo, and independent Qualified Person as defined by NI 43-101 regulations.
About Nemaska Lithium
Nemaska Lithium intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium's Whabouchi mine will be shipped to the Corporation's lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which the Corporation holds four granted patents and several patent applications that are pending in different countries, covering different aspects and improvements of its proprietary technology for preparing high purity lithium hydroxide and carbonate.
All statements, other than statements of historical fact, contained in this press release including, but not limited to, (i) the positive outlook for mine start-up and capital payback, (ii) the future studies which will demonstrate the Doris Zone's impact and which are planned post completion of project financing, and (iii) generally, the above "About Nemaska Lithium" paragraph which essentially describe the Corporation's outlook constitute ''forward-looking information'' or ''forward-looking statements'' within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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