VANCOUVER, British Columbia, Aug. 23, 2018 (GLOBE NEWSWIRE) -- Dajin Resources Corp. (“Dajin”) (TSX-V: DJI) (OTCQB: DJIFF) (Germany: C2U1) management wishes to report that LSC Lithium Corporation (LSC) has announced a Rights Offering (Press Release, August 16, 2018). In the release LSC states that the net proceeds from the planned Rights Offering will be used by the Company to support ongoing development activities at their three major projects , the Pozuelos-Pastos Grandes Project, the Rio Grande Project and the Salinas Grandes Project . A portion of the funds will be allocated for further exploration work on the Salinas Grandes Project with a view to completing a maiden mineral resource. LSC reported that they have amassed a large portfolio of prospective lithium rich salars and is focused on developing its major projects: Pozuelos and Pastos Grandes Project, Rio Grande Project and Salinas Grandes Project .
LSC (the project operator) have commenced their phase two exploration program of near-surface brines at the San Jose-Navidad minas using a Vibracore drilling machine. Using this drilling method, the exploration crew will take brine and core samples for Relative Brine Release Capacity (RBRC) determination. RBRC determinations are used to provide information on the ability of brine to flow through the subsurface and, combined with the assay results, provide a more complete picture of the resource potential. These new measurements will augment the Lithium assay results from the phase one work announced in February 2018 on the San Jose-Navidad minas.
Dajin is LSC’s partner in the Salinas Grandes salar in the Province of Jujuy, Argentina. The San Jose-Navidad minas form part of a 93,000 hectares land package to be earned by LSC (51%). To fulfill the terms of the earn-in agreement, LSC must complete $2,000,000 in exploration expenditures. Early in 2018, LSC completed the phase one surface exploration program of the northwestern portion of the San Jose-Navidad minas located on the Salinas Grandes salar. During the initial exploration program 25 shallow brine samples covering an area of 550 hectares (5.5 km 2 ) in the northwestern corner of the 4,300 hectares (43 km 2 ) San Jose-Navidad minas were taken. Lithium brine concentrations ranged from 281 mg/l to 1,353 mg/l, averaging 591 mg/l. These assay results were announced in Dajin’s February 28, 2018 press release. ( click here to see Geochemical Map)
About Dajin: ( www.dajin.ca )
Dajin is an early stage Lithium exploration company. Through its interest in Dajin Resources S.A. (“Dajin S.A.”), it holds concessions or concession applications in Jujuy Province, Argentina that were acquired in regions known to contain brines with Lithium, Potassium and Boron values. These land holdings exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes and Guayatayoc salt lake basins (salars). San Jose/Navidad minas form part of the 93,000 hectare land package covered by the joint venture between LSC (51%) and Dajin (49%). LSC is the operator of the exploration project and is required to complete CDN$2,000,000 in expenditures.
In the United States Dajin holds a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley of Mineral County, Nevada. Construction of drill pads and roads has been completed in anticipation of commencing a drill program later in the year. These claims are known to contain Lithium and Boron values and are adjacent to the birth place of US Borax Corp’s first borax mine. Dajin also holds a 100% interest in 278 placer claims covering 5,591 acres (2,262 hectares) in the Alkali Lake valley of Esmeralda County, Nevada, located 7 miles (11 kilometers) northeast of Albemarle’s Silver Peak Lithium brine operation in Clayton Valley.
| ON BEHALF OF DAJIN’S BOARD OF DIRECTORS | ||
| Brian Findlay | For further information please contact Dajin: | |
| President & CEO | 604-609-6151 or info@dajin.ca | |
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
