Alset Minerals Acquires Just Under One Million Acres of Prospective Lithium Salars in Coahuila State, Mexico
Vancouver, November 10, 2017 - Alset Minerals Corp. (TSXV: ION) ("Alset" or "the Company") is pleased to report the staking and filing of mineral claims for nearly 1 million acres of prospective lithium-rich salars in the State of Coahuila, Mexico. Alset has a 100-per-cent interest in these properties and they are free of all royalties. The three project areas are located in the infrastructure rich region of La Laguna, and include Yaki 1 (98,307 hectares), Yaki 2 (266,422 hectares), and Yaki 3 (36,929 hectares). The new salars are hosted in a classic closed-basin, and formed through the evaporation of a series of paleo-lakes. Information on the location and geology of these new salars will be available on the Company's website shortly. These new acquisitions complement the Company's other salars which are also 100-per-cent owned by Alset where strong chemistry and the potential for very good leaching characteristics exists.
Total prospective land package held 100-per-cent by Alset now exceeds one million acres.
Highlights of the New Salars
- Size: the three salars cover a total of 401,658 hectares, the largest being 266,422 hectares;
- Infrastructure: roads and power up to the salars;
- Setting: salars hosted in an arid, closed-basin; areas under license have an overall north-south strike of some 150 kilometres and an east-west strike of approximately 125 kilometres;
- Brines: history of commercial brine extraction from the Yaki-1 area (La Viesca Salar) by Sulfatos de Viesca;
- Underexplored: region is underexplored in regard to lithium potential. Known data is limited to controlled surface sampling by Radius Gold Inc. (Radius Gold Ltd, News Release Dated:12th September 2016), which returned up to 189 ppm lithium at La Viesca salar;
- Hydrogeology: hydrogeological survey carried out at the Viesca salar by Universidad Nacional Autonoma de Mexico;
- Chemistry: historical geochemical analysis documented in peer-reviewed paper;
- Opportunity: makes Alset a major player in lithium exploration;
President and Chief Executive Officer Allan Barry Laboucan said: "With the staking of these new areas we have built up an enviable portfolio of 100 per cent owned prospective lithium salars. Our land holdings now cover over 1 million acres, in two excellent infrastructure rich areas. Historical work and brine extraction by Sulfatos de Viesca from the Viesca salar was confined to the upper 100 metres, the possibility therefore exists that lithium-rich brines exist deeper in the salar. We are looking forward in the near future to an exploration program to identify and confirm lithium bearing brines in these new areas. We are also moving ahead with work to understand the chemistry and leaching characteristics of our Zacatecas salars, we hope in the near term to reach the pilot-plant testing stage as quickly as possible. Our long-term goal is to try to become one of the lowest cost producers of lithium, aided by our fertilizer chemicals as potential credits. Our exploration costs are low and we expect the same when we look toward the development of our lithium salars."
The areas covered by these claims are the Viesca salar (Yaki-1), the Mayran salar (Yaki-2) and the Los Remedios salar (Yaki-3); all of which formed in closed-basin conditions from the evaporation of the ancient, saline Viesca, Mayran and Los Remedios lakes. A hydrogeological survey was carried out on the Viesca salar under the auspices of the Universidad Nacional Autonoma de Mexico. The work is reported in the Journal of Hydrology, 284 (2003), pp 26-43. Water samples were collected from brine production wells, water production wells, and springs in 1998 and analyzed at MSD Environmental Services Limited, Toronto, Canada. Results and procedures of this work are detailed in the paper mentioned above. Samples were analyzed for multi-elements however this work did not include lithium. Groundwater flow cross-sectional modelling was carried out in combination with major ion and trace element chemistry.
The La Laguna Region is at the end of a large closed basin and is characterized by a lower, regional carbonate aquifer. This aquifer is overlain by salars in the low-lying regions that correspond to ancient lakes, and a granular aquifer in the higher portions of the basin. Data from boreholes drilled by Sulfatos de Viesca and modelling reported in the paper mentioned above indicate a maximum thickness of 350 metres for the Viesca salar, which is host to the brines previously extracted by Sulfatos de Viesca. Thickness of the underlying carbonate aquifer is unknown, although geological information from the area indicates that the carbonate aquifer is made up of two cretaceous formations both having an approximate thickness of approximately 500 metres.
(Cautionary note: The above information is taken from a publicly available source, and the Company has not independently verified the information referenced and as such should not be relied upon. The information is not necessarily indicative of the mineralization on Alset's Viesca, Mayran and Los Remedios properties and is provided as background and context material for the reader. This information will be beneficial for the Company in developing the next phase of exploration work on the properties.)
Emily Hanson, PGeo, Vice-President of exploration for Alset Minerals Corp., is the qualified person responsible for this release and has prepared, supervised and approved the preparation of the scientific and technical disclosure contained within the release.
About Alset Minerals Corp. (TSXV: ION)
Alset Minerals Corp. is a TSX-V listed junior exploration company focused on exploring and development of a group of high-grade lithium and potassium projects in the Central Mexican Plateau. The Company is actively exploring in Mexico and has a growing portfolio of 100-per-cent owned mineralized lithium-SO4-potassium salars in the states of San Luis Potosi and Zacatecas, two prolific mining jurisdictions.
On behalf of the Board of Directors of Alset Minerals Corp.,
"Allan Barry Laboucan"
Allan Barry Laboucan, President and CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections
For further information please contact
Corporate Communications
allan@alsetminerals.com
Telephone: 1-604-505-4753
www.alsetminerals.com