Southern Lithium Corp. to Begin Geophysical Survey at Cruz Property, Argentina
VANCOUVER, January 23 2017 - Southern Lithium Corp. (TSX-V: SNL FSE: SL5) ("Southern" or "the Company") is pleased to announce that it has initiated a ground geophysics program at its Cruz property ("Cruz"), located in the Pocitos salar basin in Salta Province, Argentina. Phase 1 Cruz Geophysics Program
Southern will be executing a controlled-source, audio-frequency magnetotellurics ("CSAMT") geophysical survey at the Cruz property (Cruz). Once completed, the CSAMT program will better delineate drill targets. Southern expects to commence the drilling program early this spring.
Controlled-source audio-frequency magnetotellurics ("CSAMT") is a commonly used surface-based geophysical method which provides resistivity information of the subsurface. This low-impact, non-intrusive technique has been used extensively by the minerals, geothermal, hydrocarbon and groundwater exploration industries since 1978 when equipment systems first became available commercially.
The CSAMT method involves transmitting a controlled signal at a suite of frequencies into the ground from one location (transmitter site) and measuring the received electric and magnetic fields in the area of interest (receiver site). Calculated resistivity values from CSAMT data relate to geology. Primary factors affecting resistivity include rock or sediment porosity and the density of pore fluids, which gives an indication of the concentration of dissolved salts, including those of lithium, in the pore fluids.
At Cruz, as at neighbouring projects including the nearby Enirgi Group's 100% owned Rincon Project through its wholly owned subsidiary ADY Resources Limited, formations such as the Halitic Zone and structures such as district and local faults exert significant control on mineralization. The CSMAT survey will help Southern identify such stratigraphic units and structures.
Company President Larry Segerstrom states: "The CSAMT geophysical program will strongly assist the Company in identifying and mapping potential lithium-rich brine targets for the next phase of exploration." We are excited to be on the property which is strategically located within the 'Lithium Triangle', where over half of the earth's identified resources of lithium are found."
About the Cruz Property
The Cruz Property is located in the heart of South America's Lithium Triangle (northern Chile, northwestern Argentina and southwest Bolivia). The property encompasses 2,500 hectares in the Pocitos salar basin in Salta Province, Argentina, and lies 11 kilometers south of ADY Resources Limited's lithium brine resource in the Salar del Rincon Basin.
The property is located along the major fault and volcano chain that defines the southern limit of the Rincon Basin, where ADY Resources Limited is extracting lithium brine, and the northern limit of the Pocitos basin, where the Cruz property is located. Both properties lie along the structural belt that hosts the important lithium resources of the region, and adjacent to a major crossing lineament that is thought to have given rise to the hydrothermal activity that has supplied lithium to both closed salar basins.
The 60-kilometer long Pocitos salar basin has previously only been drill tested with a shallow 12-hole program in the 1970s, by an Argentinean government agency, "Direccion General de Fabricaciones Militares". To date, this is the only confirmed exploration drilling conducted in the Pocitos basin. The hole that produced the best results is near the southeast edge of the Cruz property boundary, and averaged 417 parts per million; note that these results are considered historical and cannot be confirmed under NI 43-101 standards.
About Southern Lithium Corp. (TSX-V: SNL FSE: SL5)
Southern Lithium Corp. is a resource exploration company engaged in the business of acquiring and exploring minerals properties. Southern Lithium Corp. has assembled an experienced management team with a growth strategy to develop portfolio of Lithium projects. The Company's main objective is to add shareholder value through exploration and development of high quality resources through strategic acquisitions, joint ventures, and marketing while maintaining a lower risk profile through project diversification and sound, cost-effective financial management. With the potential acquisition of the Cruz property, Southern Lithium intends to establish its presence in the Pocitos basin and further deliver on its mission to secure technically superior lithium projects. The Company is only focusing on projects of the highest technical merit in favorable geopolitical jurisdictions.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Larry Segerstrom, M.Sc. (Geology), P.Geo., a Director of the Company, who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
Further information about the Company is available on our website at www.southernlithium.com or under our profile on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"David Alexander"
Chief Financial Officer
For further information, please contact:
Sam Eskandari
Phone: +1.416.918.6785
Email: ir@southernlithium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.
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