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Bearing Lithium Corp.
Summary
| Project: | Maricunga | |
|---|---|---|
| Deposit: | Maricunga | |
| Location: | Chile | |
| Commodities: | Lithium-Potassium | |
| Date: | 9/14/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-9-2017: Bearing Lithium Corp. announces a Resource Estimation report for its Maricunga deposit at the Maricunga project. JV - Resource estimate for the project's brines. The Maricunga Joint Venture (herein “MJV”, Proyecto Blanco, or the “Project”) (pre | |
| Resources: | (Resources, Total): 2.15Mt Li. Carb. Equ., 5.7Mt KCl contained in brine | |
| CP/QP: | [Resources]: Frits Reidel (FloSolutions-Chile) | |
| ABSTRACT: | The Maricunga Joint Venture (herein “MJV”, Proyecto Blanco, or the “Project”) (previously known as the Maricunga Lithium Project) is owned and operated by Minera Salar Blanco S.A. (MSB). MSB is in turn owned by Lithium Power International (ASX:LPI) 50%; Minera Salar Blanco SpA (previously BBL) 32.3%; and Bearing Lithium Corp.(TSXV: BRZ) 17.7%. MSB retained FloSolutions to prepare this Technical Report for the MJV in the III Region of Chile. The objective of this report is to prepare an updated estimate of brine resources based on exploration work carried out between 2011 and 2017 on the MJV mineral claims in Salar de Maricunga. Resource estimates are for lithium and potassium contained in brine. The MJV is located 170 km northeast of Copiapo in the III Region of northern Chile at an elevation of 3,750 masl. The property is more particularly described as being centered at approximately 492,000 mE, 7,025,000 mN (WGS 84 datum UTM Zone 19). The Project covers some 2,563 ha of mineralized ground in Salar de Maricunga; 100 ha just to the northeast of the Salar for camp and evaporation test facilities, and an additional 1,800 ha some eight km north of the Salar for the future construction of evaporation ponds, process and plant facilities. The mineralized area of the MJV is comprised of the following mining concessions: Litio 1-6 (1,438 ha), Cocina 19-27 (450 ha), Salamina, Despreciada, and San Francisco (675 ha). The Cocina 19-27, San Francisco, Despreciada and Salamina concessions were constituted under the 1932 Chilean mining law and have “grand-fathered” rights for the production and sale of lithium products; unlike the Litio 1-6 concessions which were constituted under the 1982 Chilean mining law and require additional government permits for the production and sale of lithium. | |
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