- 43-101 inferred resource upgraded to measured and indicated
- Overall resource estimate grew over 50%
- Average lithium grades increased between 4% and 13%
TORONTO, ONTARIO--(Marketwire - Nov. 8, 2010) - Lithium Americas Corp. (TSX:LAC) ("Lithium Americas" or the "Company"), today announced an updated resource estimate of its Cauchari-Olaroz lithium–potassium property in Argentina. An independent NI 43-101 compliant resource estimate has been completed under the supervision of Groundwater Insight Inc. from Nova Scotia, Canada, and will be included in an updated NI 43-101 report to be released within the next 45 days. The in situ resource estimate was made on the northern part of the Cauchari Salar and the southern end of the Olaroz Salar in an area of approximately 27km x 4km where Lithium Americas has the highest confidence of a continuous aquifer.
"The Cauchari-Olaroz resource is one of the largest, most advanced lithium brine projects in the world," stated Dr. Waldo Perez, Ph.D., P.Geo., President and CEO of Lithium Americas Corp. "With measured and indicated lithium carbonate and potash (KCl) resource equivalents of 5.3 million tonnes and 17.3 million tonnes respectively, we have validated the potential of our resource, achieving yet another important milestone in the development of this world class asset. Furthermore, we remain on track to completing our Preliminary Economic Assessment as scheduled in the first quarter of 2011," stated Perez.
Lithium Americas original 43-101 compliant technical report, filed in February 2010, showed an inferred resource estimate of 1.60x109 m3 at 580 mg/L lithium, equivalent to 4.9 million tonnes of lithium carbonate. The updated in situ lithium and potassium resource estimate, which was derived using data from an extensive exploration drilling program, is summarized in Table T-1 and Table T-2, respectively. All resources are reported at 500 mg/L lithium cut-off. Table T-1 shows the measured, indicated and inferred lithium resources.
Notes: The values in this table are expressed as total contained metals and are based on measurements of relative brine release capacity over the aquifer volume of the resource estimate; consequently, they may differ from total extractable quantities.
Table T-2 shows the measured, indicated and inferred potassium resources.
Notes: The values in this table are expressed as total contained metals and are based on measurements of drainable porosity over the aquifer volume of the resource estimate; consequently, they may differ from total extractable quantities.
Other important parameters of the brine composition are:
*Average density of the brine: 1,216 kg/m3
*Average Magnesium/Lithium ratio: 2.34
*Average Sulphate/Lithium ratio: 27.89
The resource was estimated using accepted, industry-standard methods that conform with National Instrument 43-101. Results were estimated with a block model developed using ordinary kriging techniques. The blocks were 300m x 300m x 10m (x,y,z). The measured resources were estimated with a kriging variance of <0.25> 0.5 and a minimum number of 1 hole. The sample size interval is 1 meter; the total number of holes used in the resource estimation was 20, located at an average distance of about 1.6km from each other. The total number of brine samples used was 2,337 (including 776 QA/QC samples). The geology model was assembled with over 18 diamond drill holes and 832 relative brine release capacity measurements that allowed the Company to distinguish 5 distinctive hydrostratigraphic units (See Table T-3).
Notes: Relative brine release capacity is a measurement of the interconnected porosity (also called effective porosity), that is related to the ability of the rock to release the brine under natural conditions.
The mineral resource estimate above has been prepared by Mining Engineer and Geostatistician Danilo Castillo from Maptek Sudamerica using Vulcan 8.0.3 software under the review of Mark King, Ph.D., P. Geo., of Groundwater Insight Inc., a Qualified Person as defined by NI 43-101. Dr. King has read and approved the contents of this release. John Kieley, P.Geo., is the internal Qualified Person for the Cauchari-Olaroz lithium project in accordance with NI 43-101. Mr. Kieley has read and approved the contents of this news release.
About the Company
Lithium Americas Corp. is a Company focused on the development of lithium and potassium projects in South America. The Company's principal and most advanced property comprises a significant portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz, covering 64,572 hectares located in the Puna Plateau. The Puna Plateau is the most prolific brine reserve region globally, hosting approximately 84 percent of the world's lithium brine reserves. Lithium Americas' principal property is one of the largest known lithium brine deposits in the world. Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas. Additional information concerning the Company's Cauchari-Olaroz project and its in situ inferred resource can be obtained from its NI 43-101 technical report dated May 6, 2010 and filed on SEDAR.
For more information please visit www.lithiumamericas.com.
This press release uses the terms 'measured resources', 'indicated resources' and 'inferred resources' which are terms recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects). Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will be converted into reserves. In addition, inferred resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic feasibility. It cannot be assumed that all or any part of the mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or prefeasibility studies, except in rare cases. Investors are cautioned not to assume that part or all of an inferred resource can be upgraded to an indicated or measured resource or is economically mineable.
Sampling and Analytical Protocols: Sampling and analytical protocols were implemented and supervised by or under the direction of John Kieley, the Company's internal Qualified Person as defined by National Instrument 43-101. All of the geochemical samples were collected by geologists taking into account the nature of the material being sampled. The brine samples were collected from the cyclone in a plastic container and then transferred into a new 1-litre plastic bottle which was then tightly closed. All samples were tagged with a pre-numbered ticket and stored in a secure location at the field office for no more than 10 days in cold dark storage. The samples were transported by Alex Stewart Assayers Argentina S.A. ("ASAA") laboratories from the field office site to their facilities in Mendoza (Argentina) where they were analyzed. ASAA is an ISO 9001-2000-certified laboratory with headquarters in England. The brine samples were analyzed by Inducted Coupled Plasma Spectroscopy (ICP) and Atomic Absorption (AA) for 13 elements. Accuracy and precision of results is tested through the systematic inclusion of blanks, standards and duplicates. Sulphate was assayed using the gravimetric method, chloride by the argentometry method and volumetric analysis (acid/base titration) was used for carbonates (alkalinity as CaCO3). Laboratory measurements were conducted for Total Dissolved Solids ("TDS"), density, and pH. Porosity tests were carried out on intact diamond drill core every 3 meters on all undisturbed samples through the "Relative Brine Release Capacity" method ("RBRC") by Daniel B. Stephens Inc. Laboratory (DBS) in New Mexico, USA. The method calculates changes in volumetric moisture content as samples (initially fully saturated) drain over a three-day period under a vacuum suction. The drainable porosity is considered to be equal to the difference between volumetric moisture contents at the start and finish of the test. The samples were collected in a plastic tight container and shipped from Jujuy Province, Argentina by DHL to the DBS labs in the USA.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements. Readers should review the Company's prospectus dated May 6, 2010, for a list of risks associated with the Company and its business.
For more information, please contact
Lithium Americas Corp.
Mike Cosic
VP Corporate Development- Overall resource estimate grew over 50%
- Average lithium grades increased between 4% and 13%
TORONTO, ONTARIO--(Marketwire - Nov. 8, 2010) - Lithium Americas Corp. (TSX:LAC) ("Lithium Americas" or the "Company"), today announced an updated resource estimate of its Cauchari-Olaroz lithium–potassium property in Argentina. An independent NI 43-101 compliant resource estimate has been completed under the supervision of Groundwater Insight Inc. from Nova Scotia, Canada, and will be included in an updated NI 43-101 report to be released within the next 45 days. The in situ resource estimate was made on the northern part of the Cauchari Salar and the southern end of the Olaroz Salar in an area of approximately 27km x 4km where Lithium Americas has the highest confidence of a continuous aquifer.
"The Cauchari-Olaroz resource is one of the largest, most advanced lithium brine projects in the world," stated Dr. Waldo Perez, Ph.D., P.Geo., President and CEO of Lithium Americas Corp. "With measured and indicated lithium carbonate and potash (KCl) resource equivalents of 5.3 million tonnes and 17.3 million tonnes respectively, we have validated the potential of our resource, achieving yet another important milestone in the development of this world class asset. Furthermore, we remain on track to completing our Preliminary Economic Assessment as scheduled in the first quarter of 2011," stated Perez.
Lithium Americas original 43-101 compliant technical report, filed in February 2010, showed an inferred resource estimate of 1.60x109 m3 at 580 mg/L lithium, equivalent to 4.9 million tonnes of lithium carbonate. The updated in situ lithium and potassium resource estimate, which was derived using data from an extensive exploration drilling program, is summarized in Table T-1 and Table T-2, respectively. All resources are reported at 500 mg/L lithium cut-off. Table T-1 shows the measured, indicated and inferred lithium resources.
Notes: The values in this table are expressed as total contained metals and are based on measurements of relative brine release capacity over the aquifer volume of the resource estimate; consequently, they may differ from total extractable quantities.
Table T-2 shows the measured, indicated and inferred potassium resources.
Notes: The values in this table are expressed as total contained metals and are based on measurements of drainable porosity over the aquifer volume of the resource estimate; consequently, they may differ from total extractable quantities.
Other important parameters of the brine composition are:
*Average density of the brine: 1,216 kg/m3
*Average Magnesium/Lithium ratio: 2.34
*Average Sulphate/Lithium ratio: 27.89
The resource was estimated using accepted, industry-standard methods that conform with National Instrument 43-101. Results were estimated with a block model developed using ordinary kriging techniques. The blocks were 300m x 300m x 10m (x,y,z). The measured resources were estimated with a kriging variance of <0.25> 0.5 and a minimum number of 1 hole. The sample size interval is 1 meter; the total number of holes used in the resource estimation was 20, located at an average distance of about 1.6km from each other. The total number of brine samples used was 2,337 (including 776 QA/QC samples). The geology model was assembled with over 18 diamond drill holes and 832 relative brine release capacity measurements that allowed the Company to distinguish 5 distinctive hydrostratigraphic units (See Table T-3).
Notes: Relative brine release capacity is a measurement of the interconnected porosity (also called effective porosity), that is related to the ability of the rock to release the brine under natural conditions.
The mineral resource estimate above has been prepared by Mining Engineer and Geostatistician Danilo Castillo from Maptek Sudamerica using Vulcan 8.0.3 software under the review of Mark King, Ph.D., P. Geo., of Groundwater Insight Inc., a Qualified Person as defined by NI 43-101. Dr. King has read and approved the contents of this release. John Kieley, P.Geo., is the internal Qualified Person for the Cauchari-Olaroz lithium project in accordance with NI 43-101. Mr. Kieley has read and approved the contents of this news release.
About the Company
Lithium Americas Corp. is a Company focused on the development of lithium and potassium projects in South America. The Company's principal and most advanced property comprises a significant portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz, covering 64,572 hectares located in the Puna Plateau. The Puna Plateau is the most prolific brine reserve region globally, hosting approximately 84 percent of the world's lithium brine reserves. Lithium Americas' principal property is one of the largest known lithium brine deposits in the world. Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas. Additional information concerning the Company's Cauchari-Olaroz project and its in situ inferred resource can be obtained from its NI 43-101 technical report dated May 6, 2010 and filed on SEDAR.
For more information please visit www.lithiumamericas.com.
This press release uses the terms 'measured resources', 'indicated resources' and 'inferred resources' which are terms recognized and required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects). Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will be converted into reserves. In addition, inferred resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic feasibility. It cannot be assumed that all or any part of the mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or prefeasibility studies, except in rare cases. Investors are cautioned not to assume that part or all of an inferred resource can be upgraded to an indicated or measured resource or is economically mineable.
Sampling and Analytical Protocols: Sampling and analytical protocols were implemented and supervised by or under the direction of John Kieley, the Company's internal Qualified Person as defined by National Instrument 43-101. All of the geochemical samples were collected by geologists taking into account the nature of the material being sampled. The brine samples were collected from the cyclone in a plastic container and then transferred into a new 1-litre plastic bottle which was then tightly closed. All samples were tagged with a pre-numbered ticket and stored in a secure location at the field office for no more than 10 days in cold dark storage. The samples were transported by Alex Stewart Assayers Argentina S.A. ("ASAA") laboratories from the field office site to their facilities in Mendoza (Argentina) where they were analyzed. ASAA is an ISO 9001-2000-certified laboratory with headquarters in England. The brine samples were analyzed by Inducted Coupled Plasma Spectroscopy (ICP) and Atomic Absorption (AA) for 13 elements. Accuracy and precision of results is tested through the systematic inclusion of blanks, standards and duplicates. Sulphate was assayed using the gravimetric method, chloride by the argentometry method and volumetric analysis (acid/base titration) was used for carbonates (alkalinity as CaCO3). Laboratory measurements were conducted for Total Dissolved Solids ("TDS"), density, and pH. Porosity tests were carried out on intact diamond drill core every 3 meters on all undisturbed samples through the "Relative Brine Release Capacity" method ("RBRC") by Daniel B. Stephens Inc. Laboratory (DBS) in New Mexico, USA. The method calculates changes in volumetric moisture content as samples (initially fully saturated) drain over a three-day period under a vacuum suction. The drainable porosity is considered to be equal to the difference between volumetric moisture contents at the start and finish of the test. The samples were collected in a plastic tight container and shipped from Jujuy Province, Argentina by DHL to the DBS labs in the USA.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as "could", "potential", "believe", "expect", "anticipate", "intend", "plan", "likely", "will" or other similar words or phrases. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements. Readers should review the Company's prospectus dated May 6, 2010, for a list of risks associated with the Company and its business.
For more information, please contact
Lithium Americas Corp.
Mike Cosic
(416) 360-1921
mcosic@lithiumamericas.com
www.lithiumamericas.com
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