Rodinia Lithium Inc. TSX VENTURE : RM
OTCQX : RDNAF
May 05, 2011 08:30 ET
- DRC-17 INTERSECTED 640 mg/L LITHIUM OVER 108 METRES WITH VALUES UP TO 720 mg/L LITHIUM AND 7,400 mg/L POTASSIUM
- BASEMENT INTERSECTED APPROXIMATELY 38.5 METRES DEEPER THAN PREDICTED
- RESULTS EXPECTED TO INCREASE THE RECOVERABLE RESOURCE
- EXPLORATION PROGRAM IS ONGOING AT THE SALAR DE DIABLILLOS
TORONTO, ONTARIO--(Marketwire - May 5, 2011) - Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE:RM)(OTCQX:RDNAF) is pleased to announce results from its continued reverse circulation drill program at its Salar de Diablillos project ("Diablillos" or "Salar") located in Salta Province, Argentina. Drilling successfully resumed at Diablillos late February, after experiencing heavier rains than usual during January and February 2011. It is anticipated that the results, summarized below, may expand the resource at depth and laterally, while confirming the continuity of the aquifers and the contained lithium brines.
William Randall, President CEO of Rodinia, commented "We continue to intersect high quality lithium and potash brines on the Salar de Diablillos, evidenced by DRC-17 in the north-eastern margin of the Salar. With this intersection and the drilling that is ongoing, we believe that this may increase the size of our recoverable lithium and potash resource. This is a great start to what is expected to be a busy remainder of the year as we advance the Diablillos project, through the completion of exploration activities and culminating in the development of a preliminary economic assessment of the property."
DRC-12R is an extension of DRC-12 (please see press release dated January 13, 2011 for further detail regarding DRC-12) and targeted brines at depth below the resource area. DRC-12R successfully reached depths below the resource area encountering brines grading up to 620 mg/L lithium ("Li") at the bottom of the hole. The sequence is dominated by sand and gravel lithologies that formed the host for the bulk of the 2,817,000 tonne recoverable lithium carbonate equivalent ("LCE") resource estimate announced April 1, 2011.
DRC-17 was drilled on the north-eastern margin of the Salar to a total depth of 156 metres and encountering the basement at 141.5 metres. The basement encountered in this drill hole is highly fractured exhibiting flow rates of up to 86 l/m and lithium concentrations up to 720 mg/L Li at the bottom of the hole. The basement was intersected approximately 38.5 metres deeper than predicted by the gravity survey. The gravity survey formed the basis of the basement modeling used in the recoverable resource and it is therefore expected that the results of DRC-17 will result in an increase in the resource size. Results from DRC-12R and DRC-17 can be found in Table 1.
A sampling procedure was enforced by management to ensure sample integrity during the drill program. Where possible, brine and sediments samples were air lifted, and water restricted to the upper part of the hole before the water table was intercepted. Once brine bearing horizons were intercepted, drilling was halted and the drilling pipe lifted 2 feet or more to allow the total flushing of the internal pipe by means of air pressure for approximately five minutes or until the brine appeared reasonably clean of sediment. After sufficient air lifting of the brine, a sample was collected in 500 ml sample bottles that had been washed three times with the brine. Liquid was also collected in five gallon buckets and the time of filling of the bucket recorded, in order to aid in quantifying the formational flow.
The Project is supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; the anticipating timing and results with respect to the development of a preliminary economic assessment of the Diablillos property, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
William Randall, President CEO of Rodinia, commented "We continue to intersect high quality lithium and potash brines on the Salar de Diablillos, evidenced by DRC-17 in the north-eastern margin of the Salar. With this intersection and the drilling that is ongoing, we believe that this may increase the size of our recoverable lithium and potash resource. This is a great start to what is expected to be a busy remainder of the year as we advance the Diablillos project, through the completion of exploration activities and culminating in the development of a preliminary economic assessment of the property."
DRC-12R is an extension of DRC-12 (please see press release dated January 13, 2011 for further detail regarding DRC-12) and targeted brines at depth below the resource area. DRC-12R successfully reached depths below the resource area encountering brines grading up to 620 mg/L lithium ("Li") at the bottom of the hole. The sequence is dominated by sand and gravel lithologies that formed the host for the bulk of the 2,817,000 tonne recoverable lithium carbonate equivalent ("LCE") resource estimate announced April 1, 2011.
DRC-17 was drilled on the north-eastern margin of the Salar to a total depth of 156 metres and encountering the basement at 141.5 metres. The basement encountered in this drill hole is highly fractured exhibiting flow rates of up to 86 l/m and lithium concentrations up to 720 mg/L Li at the bottom of the hole. The basement was intersected approximately 38.5 metres deeper than predicted by the gravity survey. The gravity survey formed the basis of the basement modeling used in the recoverable resource and it is therefore expected that the results of DRC-17 will result in an increase in the resource size. Results from DRC-12R and DRC-17 can be found in Table 1.
| Table 1 – Results from reverse circulation drill holes DRC-12R and DRC-17. |
| Drill Hole | From (m) | To (m) | Interval (m) | Li (mg/l) | K (mg/l) | B (mg/l) | Mg:Li | SO4:Li |
| D-RC-12R | 60 | 90 | 30 | 548 | 5650 | 701 | 3.70 | 13.20 |
| And | 96 | 114 | 18 | 573 | 5933 | 670 | 3.50 | 13.70 |
| zone open at depth | ||||||||
| D-RC-17 | 48 | 156 | 108 | 640 | 6631 | 688 | 3.49 | 15.00 |
| Fractured basement intersected @ 141.5m; due to drilling logistics samples in the interval 78-100.5 metres were not sampled and average values applied to the intersection based on the logged continuity of the aquifer. | ||||||||
A sampling procedure was enforced by management to ensure sample integrity during the drill program. Where possible, brine and sediments samples were air lifted, and water restricted to the upper part of the hole before the water table was intercepted. Once brine bearing horizons were intercepted, drilling was halted and the drilling pipe lifted 2 feet or more to allow the total flushing of the internal pipe by means of air pressure for approximately five minutes or until the brine appeared reasonably clean of sediment. After sufficient air lifting of the brine, a sample was collected in 500 ml sample bottles that had been washed three times with the brine. Liquid was also collected in five gallon buckets and the time of filling of the bucket recorded, in order to aid in quantifying the formational flow.
The Project is supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a qualified person, as defined by National Instrument 43-101, and has reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 500 millilitres and be stored in clean, secure containers for transportation. The prepared samples are then forwarded to the ALS Laboratory Group, Environmental Division, in Fort Collins, Co (USA) for analysis. A rigorous QA/QC program is implemented consisting of regular insertion of standards and blanks to ensure laboratory integrity.
About Rodinia Lithium Inc.:
Rodinia Lithium Inc. is a Canadian mineral exploration and development company with a primary focus on Lithium exploration and development in North and South America. The Company is also actively exploring the commercialization of a significant Potash co-product that is expected to be recoverable through the lithium harvesting process.
Rodinia's Salar de Diablillos lithium-brine project in Salta, Argentina, contains a recoverable resource of 2.82 million tonnes lithium carbonate equivalent and 11.27 million tonnes potassium chloride equivalent. The project contains a recoverable inferred resource of 952,553,000 m3 grading 556 mg/L lithium and 6,206 mg/L potassium. Throughout 2011, Rodinia will focus on continuing to develop the Diablillos project by completing additional drilling and advancing through scoping study.
The Company also holds 100% mineral rights to approximately 70,000 acres in Nevada's lithium-rich Clayton Valley in Esmeralda County, and is currently in the process of assessing the size, quality and processing alternatives of this deposit. The Clayton Valley project is located in the only known lithium-brine bearing salt lake in North America, and looks to represent the only new source for domestic lithium carbonate supply.
The Projects are supervised by Ray Spanjers, Rodinia's Manager of Exploration. Mr. Spanjers is considered a Qualified Person, as defined by National Instrument 43‐101.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com.
Cautionary Notes
Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the impact of the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; the anticipating timing and results with respect to the development of a preliminary economic assessment of the Diablillos property, the potential results and timetable for further exploration with respect to the Clayton Valley project and the Diablillos property, the timetable with respect to future acquisitions and exploration developments at Clayton Valley and Diablillos, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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