One of our Top Picks in Lithium Juniors' sector has reported today very impressive results from its exploration program in Argentina. Company has raised 5 mil capital now, hired PR company and is ready to move up with other lithium juniors. Today's deal of BYD investing into Chinese lithium brine developer will continue M&A fever in this very tight sector. Reliable supply of Lithium is the basis for Electrification of our transportation system to address Energy Security and looming Peak Oil situation.
"We have another hint into the recent M&A activity in Lithium space. Talison deal with Salares Lithium confirms real Chinese appetite for Lithium. Now it is time for Lithium Supply - China already controls 97% of Rare Earths market. Lithium output will be increased fivefold in Chinese Lithium province, but the real news is below from Reuters - it is only half of previously expected output and now Chinese companies are on the shopping spree among lithium developers. Who will be at the boardroom table next - only a few lithium brines plays are left without J/V partners and we are following here two of them: International Lithium and Rodinia Lithium. We expect M&A activity in lithium space to be continued during this summer months."
MarketWatch:
Sept. 17, 2010, :
- Intersected an Average 713 mg/L Lithium, 9,000 mg/L Potassium, and 543 mg/L Boron Over 120 Metre Reverse Circulation Drill Hole
- Lithium Concentrations Measured in the Discovery Drill Hole Range From 650 to 810 mg/L, Demonstrating Remarkably Even Grade Distribution Over the Aquifer
- Results Identify the Majority of the Stratigraphic Column as a Potential Producer
- Rodinia Is Fully Financed to Complete the Ongoing Discovery Exploration Program, Which Is Expected to Define a NI 43-101 Compliant Resource Estimate for the Salar
TORONTO, ONTARIO, Sep 17, 2010 (MARKETWIRE via COMTEX) -- Rodinia Lithium Inc. ("Rodinia" or the "Company") /quotes/comstock/11v!e:rm (CA:RM 0.32, +0.04, +14.29%) (), is pleased to report that it has discovered high-grade lithium and potash during its first reverse circulation drill program on its Salar de Diablillos lithium-brine project in Salta, Argentina ("Diablillos" or the "Salar"). The Company is encouraged by these results and believes, based on analysis and previously published data, that they may be indicative of a sizeable, continuous aquifer capable of becoming a producer.
William Randall, President and CEO of Rodinia, commented "It is encouraging that this discovery drill hole has intersected grades similar to our auger drill program, only now to depths of 120 metres. The results of this drill hole, and the geophysical data available, provides further encouragement for the potential to delineate a large scale resource. Rodinia has mounted the first ever drill campaign for new lithium and potash on Diablillos and will continue to work on defining a National Instrument 43-101 compliant resource estimate on the Salar by year's end."
Results from the discovery drill hole D-RC-01, the first drill hole completed on the project, intersected lithium ("Li") values of up to 810 milligrams per litre ("mg/L") and returned averages of 713 mg/L Li, 9,000 mg/L potassium ("K"), and 543 mg/L boron ("B") over the 120 metre drill hole depth. The hole, located in the north western portion of the salar nucleus, intersected lithologies primarily composed of sand and gravel, with coarser material encountered down hole. The zone continues to be open at depth and in all directions.
The lithium concentrations measured in the discovery drill hole range from 650 to 810 mg/L, demonstrating a remarkably even grade distribution over the aquifer, identifying the entire stratigraphic column as a potential producer. Samples were taken every six metres to ensure different characteristics of the brine column were captured, with the intention of identifying the horizons with the most potential for production. The geochemistry of the brine samples remained comparable to those encountered during auger drilling (see previous press release dated May 26, 2010), with average magnesium-to-lithium ratio of 3.7 and a sulphate-to-lithium ratio of 9.3.
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depth (metres) milligrams per litre ratio
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Sample From To Li K B Mg:Li SO4:Li
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D-RC-01-001 6 12 810 8800 570 3.5 10.7
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D-RC-01-002 12 18 800 8800 560 3.5 10.5
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D-RC-01-003 18 24 720 8900 540 3.8 9.3
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D-RC-01-004 24 30 760 8700 560 3.7 10.9
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D-RC-01-005 36 42 650 8900 530 4.2 8.5
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D-RC-01-006 42 48 660 9000 540 4.1 6.1
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D-RC-01-007 48 54 650 8800 540 4.0 7.7
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D-RC-01-008 54 60 650 8800 520 4.0 8.8
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D-RC-01-009 60 66 660 9000 500 3.8 8.2
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D-RC-01-010 66 72 710 9200 540 3.7 9.7
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D-RC-01-011 72 78 700 9100 550 3.7 9.6
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D-RC-01-012 78 84 750 9100 560 3.6 9.9
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D-RC-01-013 84 90 720 9300 540 3.6 8.6
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D-RC-01-014 90 96 710 9100 540 3.8 9.2
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D-RC-01-015 96 102 730 9300 540 3.4 9.9
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D-RC-01-016 102 108 740 9300 550 3.1 10.5
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D-RC-01-017 108 114 720 9000 560 3.3 10.4
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D-RC-01-018 114 120 700 8900 540 3.6 9.1
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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 ten 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, so as to aid in quantifying the formational flow.
Rodinia has completed 6 drill holes on the newly discovered Salar de Diablillos basin. Generally, the holes intersected unconsolidated sand and gravel saturated with high salinity brines. Flow rates in the sand and gravels have been highly variable ranging from 40 litres per minute to 1,080 litres per minute, including artesian conditions in some drill holes. The Company intends to provide updated information on the remaining discovery drill holes upon receipt of assay results from the laboratory.
The Project is supervised by William Randall, MSc (Geology), the President and CEO of Rodinia, and by Ray Spanjers, Rodinia's Manager of Exploration. Both Messrs. Randall and Spanjers are considered qualified persons, as defined by National Instrument 43-101, and both have reviewed and approved the scientific and technical information in this release. According to the Company's sampling protocol, sample size is to exceed 300 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 company with a primary focus on lithium exploration and development in North and South America. The Company is positioned to capitalize on the expected increase in demand for lithium carbonate that is projected to result from the anticipated paradigm shift to mass adoption and use of key lithium applications like lithium-ion batteries as well as glass ceramics, greases, pharmaceuticals etc.
Rodinia is currently exploring its Clayton Valley project in Nevada, USA, which surrounds the only lithium-brine producer in North America, and its Salar de Diablillos project in Salta, Argentina.
Please visit the Company's web site at www.rodinialithium.com or write us at info@rodinialithium.com. Follow us on Twitter: http://twitter.com/RodiniaLithium."
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