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Lithium Power International Ltd.
Summary
| Project: | Maricunga | |
|---|---|---|
| Deposit: | Maricunga | |
| Location: | Chile | |
| Commodities: | Lithium-Potassium | |
| Date: | 12/7/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 7-12-2016: Lithium Power International Ltd. announces an Exploration/Drilling Update report for its Maricunga deposit at the Maricunga project. Drilling results incl. 75m @ 1447mg Li/L. Lithium Power International Limited (ASX: LPI) (“LPI” or “the Company | |
| 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 report further encouraging assay results from the second and third holes drilled in the Maricunga lithium brine project in northern Chile. Drill hole M1 is located in the north east of the “old code” Cocina tenements, and to the north of the existing lithium resource* within the Litio tenements. Brine samples from M1 averaged 1,447 mg/l lithium and 9,903 mg/l potassium over the 75m test interval (out of 77m total depth), with a peak individual assay of 1,946 mg/l lithium and 12,610 mg/l potassium at 15m depth. These assay results are very positive for the Maricunga project, as they indicate that high brine grades continue north from Litio, and also increase in lithium grade in this section of Cocina. Drilling at M1 ceased early due to technical issues, and a replacement hole will be drilled to 200m shortly, at no additional cost to the company. Drill hole M2 is located in the “old code” San Francisco tenement, which was acquired by LPI as part of the JV formation. Brine samples from M2 averaged 931 mg/l lithium and 6,605 mg/l potassium over its 198m test interval, with the hole finishing in mineralised lithium brine. The maximum assay was 1,700 mg/l lithium and 11,820mg/l potassium at 9m depth. These assay results are particularly encouraging as M2 was drilled on the western edge of the salar, confirming that elevated lithium grades extend across the northern section from Cocina and Litio (see Figure 1 below). For reference, M2 is located 3.4km west from the previously reported M10 high-grade drill hole (refer ASX announcement on 10th November 2016). As with drill hole M1, brine at M2 was sampled on a 6m spacing over the depth of the hole, with procedures in place to minimise any risk of contamination between samples. The assay results confirm the positive indications from field measurements which showed brine densities of 1.2 g/cc. | |
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