- Initial resource estimate work ongoing and on track
- Anticipate initial resource estimate data within 4 weeks
- Drilling to recommence at Diablillos targeting deeper aquifer depths within the basin
- Production wells and pump tests being designed to determine production capacity of the Salar
TORONTO, ONTARIO--(Marketwire - Feb. 10, 2011) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX:RDNAF), is pleased to report that it has recommenced and augmented its work program on the Salar de Diablillos lithium brine project in Salta, Argentina ("Diablillos" or the "Salar"). The Company plans to advance the project to the next stage and determine the potential productivity of the Salar. The Company plans to drill further exploration holes to assess the lithium, potash and boron mineralization within the Salar and intends to establish the basement depths. In addition, production and monitoring wells are being designed from which pump tests and basin hydrological monitoring can be performed. These wells will serve to optimize pumping rates and well distribution, as the Company moves through development and towards production. All drilling equipment and permits required for the work have been secured.
William Randall, President and CEO of Rodinia, commented "we are extremely encouraged by recent events and results, which management believes are indicative of what a preliminary initial resource estimate may look like for the Salar de Diablillos. With this information, and funds from a recently completed equity financing, we believe it is the right time to step up the development program. We believe Diablillos can be developed into a world-class lithium-potash asset and we now have the required funds to make significant advancements and delineate the production potential."
The Project is supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.
Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Salar de Diablillos project in Salta, Argentina.
Please visit the Company's web site at www.rodinialithium.com or write us at email@example.com.
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For more information, please contact
Investor Cubed Inc.
+1 (647) 258-3311
Rodinia Lithium Inc.
Vice-President, Corporate Development
+1 (416) 309-2696