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Lithium Power International Ltd.
Summary
| Project: | Maricunga | |
|---|---|---|
| Deposit: | Salamina | |
| Location: | Chile | |
| Commodities: | Lithium-Potassium | |
| Date: | 12/21/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-12-2016: Lithium Power International Ltd. announces an Exploration/Drilling Update report for its Salamina deposit at the Maricunga project. Drilling results incl. 186m @ 1005mg Li/L from 14m. Lithium Power International Limited (ASX: LPI) (“LPI” or “t | |
| 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 advise the assay results from the fourth exploration hole drilled in the Maricunga lithium brine project in northern Chile. Drill hole S5 is located within the “old code” Salamina tenement, which was acquired by LPI as part of the recent JV formation. The hole was completed to 200m by rotary drilling, and sampled on a 6m vertical spacing over its depth. S5 is located approximately 5km west from the existing lithium resource* within the Litio tenements (see Figure 1). Brine samples from S5 averaged 1,005 mg/l lithium and 6,934 mg/l potassium over the 186m test interval (from 14 to 200m). The maximum individual assays were 1,270 mg/l lithium (at 80m) and 8,980 mg/l potassium (at 14m). These results are comparable to the high lithium grades reported for hole M2 (931 mg/l lithium average over 198m, approx. 2.5km away), and for hole M1 (1,447 mg/l lithium average over 75m, approx. 6km away), which were announced on 7 th December 2016. As with all other drill holes at Maricunga to date, S5 finished in mineralised brine at depth. The hole was completed within a favourable sand and gravel sequence. Given its location on the western side of the project area, the assay results for S5 confirm that elevated lithium grades extend from the Litio tenement in the east, to Cocina and San Francisco in the north/north-west, and to Salamina in the west. | |
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