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Lithium Power International Ltd.
Summary
| Project: | Maricunga | |
|---|---|---|
| Deposit: | Maricunga | |
| Location: | Chile | |
| Commodities: | Lithium-Potassium | |
| Date: | 11/11/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-11-2016: Lithium Power International Ltd. announces an Exploration/Drilling Update report for its Maricunga deposit at the Maricunga project. Average drilling results incl. 50m @ 1239mg Li/L, 8611mg K/L from 140m. Lithium Power International Limited (A | |
| Resources: | (historical estimates only) | |
| CP/QP: | [Overall Report]: Murray Brooker (Hydrominex Geoscience Pty Ltd.) | |
| ABSTRACT: | Lithium Power International Limited (ASX: LPI) (“LPI” or “the Company”) is pleased to provide assay results from the first exploration hole drilled at the Maricunga lithium brine joint venture (“JV”) in Chile, as part of the previously announced appraisal & development program. The first exploration drill hole (M10) was drilled to 200m depth near the centre of the JV’s Cocina tenement (see Figure 1 & Table 2). Cocina is an “old 1932 mining code” tenement which was acquired by LPI’s JV partners in 2013, and has not been explored previously. Hole M10 is approximately 0.5km north from the Litio property boundary, which contains the JV’s existing foreign lithium resource estimate* (please refer to the note on the foreign resource estimate included in page 6 of this announcement). M10 recorded a high lithium grade of 1,239mg/l (average) over the 150-190m test interval, with an individual sample at 160m measuring 1,571mg/l lithium. The drill hole also recorded a potassium grade of 8,611mg/l (average) over the same test interval, with a maximum potassium sample grade of 11,090mg/l (see Table 1). Note that M10 was only sampled at depth, from 150m onwards, with a new pump test well (P4) now drilled to 180m alongside it. The pump test at P4 will commence imminently, and provide further data on lithium grade and brine flow rates for this site. The next exploration drill hole (M2) has now been completed on the north-west perimeter of the Maricunga salar. M2 is located 3.4km from M10 (see Table 2), and within the San Francisco tenement recently acquired by LPI as part of the JV formation. It was drilled to 198m depth, with brine samples collected every 6m. Field measurements suggest brine densities of approximately 1.2g/cc, which are comparable to those at M10. Samples have now been submitted for assay. Wellheads have also been installed at 3 other locations as part of the JV’s ongoing exploration program. | |
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