QUEBEC, QUEBEC–(Marketwired – Nov. 28, 2016) –
Editors Note: There are two photos associated with this press release.
Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX)(OTC:NMKEF) is pleased to provide details of all the drilling results on the newly discovered Doris zone (see press release of September 06, 2016) on its Whabouchi lithium project. The company encountered a new lithium bearing zone in the southwestern end of the planned pit area (Figure 1). The Doris zone, contains 5 interconnected dykes and has now been confirmed on 420m of lateral extension and up to a maximum depth of 440m where it joins the main dyke. The Doris zone starts in the southwest and is open along strike to the northeast. Doris appears to run parallel to main zone which extends for 1.2km to the northeast (Figure 2).
“Our drilling to date on the Doris discovery has yielded drill holes with significant widths and grades which are similar to the main zone of the Whabouchi deposit” commented Guy Bourassa, President and CEO of Nemaska Lithium. “It will immediately impact the Whabouchi project as we intend to add it to the resource estimate and possibly the reserves of the mine. Doris is open towards the northeast, with excellent potential to add additional tonnage to the Whabouchi project, as we consider a drill program during the winter to expand and confirm its extension,” commented Mr. Bourassa, President and CEO of Nemaska Lithium.
A 4,000m drill program was completed on the Doris Zone. A total of 17 holes (with more than 1 intersect per hole) having a cumulative core length of approximately 644m of mineralized intersections have intercepted the Doris zone, and have reported the following intersections:
|Section||Hole Name||From (m)||To (m)||Core Length (m)||Li2O (%)||True Width* (m)|
|* True width are measured from dyke interpretation on the sections.|
The Company intends to release new resource estimate in the coming week taking into consideration not only the new Doris zone, but also the results of the 17,000m of definition drilling that was recently completed on the Whabouchi mine. Likewise the feasibility study titled: NI 43-101 Technical Report Feasibility Study Update on the Whabouchi Lithium Deposit and Hydromet Plant (Revised), dated as of April 4th, 2016, as amended and refiled on June 08, 2016, will be updated.
The drilling campaign was planned and supervised by Jean-Philippe Paiement, M.Sc. P. Geo, at SGS Canada Inc. Samples were prepared by the SGS Canada Inc. laboratory in Quebec City and have been analyzed by the SGS Canada Inc. accredited laboratory in Lakefield.
A QAQC program involving blank samples (3% of the sampling stream), standard samples (3% of the sampling stream) and field duplicates (3% of the sampling stream) has been established during sampling. 5% of the mineralized samples will also be sent to ALS for pulp duplicates. The work is carried out in accordance with CIM’s mining exploration guidelines.
The technical parts of this press release were prepared by Jean-Philippe Paiement, M.Sc. P. Geo, at SGS Canada Inc., qualified person under Regulation NI 43-101.
About Nemaska Lithium
Nemaska Lithium intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium’s Whabouchi mine will be shipped to the Corporation’s lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which patent applications have been filed.
All statements, other than statements of historical fact, contained in this press release including, but not limited to, (i) the potential increase of the mineral resources tonnage, (ii) the possible Doris zone extension, (iii) the possible incorporation of the results in the mining reserves, constitute ”forward-looking information” or ”forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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