Rodinia Lithium Commences Drilling of First Production Well at Diablillos
3 hours ago by Marketwire
Rodinia Lithium Inc. ("Rodinia" or the "Company") (TSX VENTURE: RM)(OTCQX: RDNAF) is pleased to announce that a drill has been mobilized and is set to commence drilling the first production well on its 100% owned Salar de Diablillos lithium brine project ("Diablillos" or "Salar") located in Salta Province, Argentina.
The first production sized well is to be drilled in the vicinity of DRC-01 that intersected averages of 713 mg/L lithium ("Li"), 9,000 mg/L potassium ("K"), and 543 mg/L boron ("B") over the 120 metre drill hole depth (refer to press release dated September 17, 2010).
"Initiating our first production sized well only 17 months after the discovery hole at Diablillos was announced, in our opinion, demonstrates the company's strategy to fast track the development of the project," commented William Randall, President & CEO of Rodinia. "This marks yet another important step towards completing the work required for a feasibility study. This first production well, along with the majority of the subsequent evaluation work to follow, will be designed and executed in a manner such that they can also be incorporated into the commercial production facility. This is anticipated to save us time and capital as we continue to move towards production."
The production well is designed to evaluate the range of pumping rates, well efficiencies and drawdown/recharge characteristics of the middle and lower aquifers during a long term high volume pump test. The plan is to install a deep well pump, capable of volumes up to 3800 l/min, in a 10-inch diameter cased well 237 meters deep terminated just above the crystalline basement rocks. The proposed pump test will proceed for 10-15 days and will provide engineering data for a feasibility study.
The production well is to be drilled in the vicinity of the anticipated commercial production well field. The well will target the two largest aquifers modeled in the resource estimate, in addition to being located in one of the deepest portions of the basin. The well is also centered in close proximity to the higher grade portions of the resource, potentially allowing higher grades to be accessed during the initial production years.
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 2012, Rodinia will focus on continuing to develop the Diablillos project by completing additional evaluation work and advancing through feasibility 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 production well and the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, 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.
The first production sized well is to be drilled in the vicinity of DRC-01 that intersected averages of 713 mg/L lithium ("Li"), 9,000 mg/L potassium ("K"), and 543 mg/L boron ("B") over the 120 metre drill hole depth (refer to press release dated September 17, 2010).
"Initiating our first production sized well only 17 months after the discovery hole at Diablillos was announced, in our opinion, demonstrates the company's strategy to fast track the development of the project," commented William Randall, President & CEO of Rodinia. "This marks yet another important step towards completing the work required for a feasibility study. This first production well, along with the majority of the subsequent evaluation work to follow, will be designed and executed in a manner such that they can also be incorporated into the commercial production facility. This is anticipated to save us time and capital as we continue to move towards production."
The production well is designed to evaluate the range of pumping rates, well efficiencies and drawdown/recharge characteristics of the middle and lower aquifers during a long term high volume pump test. The plan is to install a deep well pump, capable of volumes up to 3800 l/min, in a 10-inch diameter cased well 237 meters deep terminated just above the crystalline basement rocks. The proposed pump test will proceed for 10-15 days and will provide engineering data for a feasibility study.
The production well is to be drilled in the vicinity of the anticipated commercial production well field. The well will target the two largest aquifers modeled in the resource estimate, in addition to being located in one of the deepest portions of the basin. The well is also centered in close proximity to the higher grade portions of the resource, potentially allowing higher grades to be accessed during the initial production years.
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 2012, Rodinia will focus on continuing to develop the Diablillos project by completing additional evaluation work and advancing through feasibility 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 production well and the drill program at the Diablillos property and results of such drill program; the potential of the Diablillos property; anticipated timing with respect to the completion of a preliminary economic assessment, 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.
Contacts: Investor Cubed Inc. Investor Relations +1 (647) 258-3311 Rodinia Lithium Inc. Aaron Wolfe Vice-President, Corporate Development +1 (416) 309-2696 info@rodinialithium.com www.rodinialithium.comSOURCE: Rodinia Lithium Inc.
mailto:info@rodinialithium.com http://www.rodinialithium.com
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