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Message: Nemaska Lithium Drills 1.53% Li2O Over 32.2 m Including 2.56% Li2O Over
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6 m at Sirmac Project
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QUEBEC CITY, QUEBEC, CANADA -- (Marketwire) -- 11/13/12 -- Nemaska Lithium Inc. ("Nemaska" or the "Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF) announces results of diamond drill campaign completed on September 28, 2012 on its Sirmac lithium project (642.3 hectares) located in the James Bay region, Quebec, approximately 125 km south of the Whabouchi deposit.
Nemaska completed a diamond drill campaign of 72 drill holes (3,414.5 m) from August 16, 2012 to September 28, 2012. A total of 1,394 samples, including 153 quality control samples (12%), were sent to the lab for assay. The objective of this exploration campaign was to test the possible extensions of the known Dyke #5 and locate new dykes elsewhere on the property.
"This has been a very successful drill campaign with multiple intersections over 2% Li2O. In fact, we intersected mineralization with up to 2.98% Li2O that approaches the grade found at Talison's Greenbushes deposit, which is the highest grade hard rock deposit in the world. We are currently working on a NI 43-101 resource estimate and metallurgy to determine if we can produce a technical grade spodumene concentrate. Technical grade concentrate is a higher value spodumene product and is a completely new market for Nemaska that will expand our product offering once we are in production".
Best intersections results are presented in tables below for each dyke targeted during the drill campaign.
DYKE #5
--------------------------------------------------------------------------- Drill Hole Grade% Li2O Length (meters) --------------------------------------------------------------------------- SIR-12-01 1.30% 35.05 m --------------------------------------------------------------------------- including 2.30% 12.35 m --------------------------------------------------------------------------- SIR-12-02 1.30% 8.3 m --------------------------------------------------------------------------- SIR-12-03 1.19% 32.35 m --------------------------------------------------------------------------- including 2.06% 9.0 m --------------------------------------------------------------------------- SIR-12-04 1.31% 24.7 m --------------------------------------------------------------------------- SIR-12-05 1.08% 26.0 m --------------------------------------------------------------------------- SIR-12-06 1.14% 2.0 m --------------------------------------------------------------------------- SIR-12-07 1.36% 24.3 m --------------------------------------------------------------------------- SIR-12-08 1.46% 5.5 m --------------------------------------------------------------------------- SIR-12-09 1.43% 27.9 m --------------------------------------------------------------------------- SIR-12-10 1.49% 14.7 m --------------------------------------------------------------------------- SIR-12-12 0.73% 5.7 m --------------------------------------------------------------------------- including 1.30% 1.2 m --------------------------------------------------------------------------- SIR-12-15 1.35% 35.2 m --------------------------------------------------------------------------- SIR-12-16 1.32% 7.05 m --------------------------------------------------------------------------- SIR-12-17 1.53% 32.2 m --------------------------------------------------------------------------- including 2.56% 6.0 m --------------------------------------------------------------------------- SIR-12-21 1.43% 32.1 m --------------------------------------------------------------------------- including 2.58% 10.5 m --------------------------------------------------------------------------- SIR-12-22 0.96% 25.1 m --------------------------------------------------------------------------- including 1.53% 10.5 m --------------------------------------------------------------------------- SIR-12-23 1.40% 29.4 m --------------------------------------------------------------------------- including 2.01% 10.5 m --------------------------------------------------------------------------- SIR-12-24 0.99% 16.7 m --------------------------------------------------------------------------- including 1.54% 7.7 m --------------------------------------------------------------------------- SIR-12-25 0.94% 19.15 m --------------------------------------------------------------------------- including 1.65% 6.0 m --------------------------------------------------------------------------- SIR-12-26 1.65% 21.1 m --------------------------------------------------------------------------- SIR-12-27 0.97% 13.9 m --------------------------------------------------------------------------- including 1.83% 4.3 m --------------------------------------------------------------------------- SIR-12-28 1.01% 6.35 m --------------------------------------------------------------------------- including 1.61% 3.15 m --------------------------------------------------------------------------- SIR-12-30 0.89% 12.2 m --------------------------------------------------------------------------- including 1.23% 6.0 m --------------------------------------------------------------------------- SIR-12-31 1.02% 0.7 m --------------------------------------------------------------------------- SIR-12-32 1.67% 5.0 m --------------------------------------------------------------------------- including 2.98% 2.7 m --------------------------------------------------------------------------- SIR-12-34 1.14% 1.4 m --------------------------------------------------------------------------- SIR-12-38 1.83% 3.2 m --------------------------------------------------------------------------- SIR-12-39 1.04% 3.0 m ---------------------------------------------------------------------------
LAURISHA EXTENSION (WEST OF DYKE #5)
--------------------------------------------------------------------------- Drill Hole Grade% Li2O Length (meters) --------------------------------------------------------------------------- SIR-12-18 1.27% 5.7 m --------------------------------------------------------------------------- SIR-12-19 1.50% 4.1 m --------------------------------------------------------------------------- SIR-12-20 1.69% 5.0 m ---------------------------------------------------------------------------
NORTH EXTENSION OF DYKE #5
--------------------------------------------------------------------------- Drill Hole Grade% Li2O Length (meters) --------------------------------------------------------------------------- SIR-12-44 1.17% 3.0 m --------------------------------------------------------------------------- SIR-12-45 1.16% 7.6 m --------------------------------------------------------------------------- SIR-12-46 0.94% 7.0 m --------------------------------------------------------------------------- including 1.41% 3.0 m --------------------------------------------------------------------------- SIR-12-47 0.90% 9.0 m --------------------------------------------------------------------------- including 1.37% 3.0 m --------------------------------------------------------------------------- SIR-12-48 0.79% 4.6 m --------------------------------------------------------------------------- SIR-12-49 1.15% 19.8 m --------------------------------------------------------------------------- SIR-12-50 1.04% 13.5 m --------------------------------------------------------------------------- including 1.99% 6.0 m --------------------------------------------------------------------------- SIR-12-51 1.21% 6.0 m --------------------------------------------------------------------------- SIR-12-53 0.85% 1.7 m --------------------------------------------------------------------------- SIR-12-56 1.05% 11.1 m --------------------------------------------------------------------------- SIR-12-61 1.15% 7.8 m --------------------------------------------------------------------------- including 2.27% 3.3 m --------------------------------------------------------------------------- SIR-12-62 1.11% 5.4 m ---------------------------------------------------------------------------
DYKE 0+00 (200 METERS NNE OF DYKE #5)
--------------------------------------------------------------------------- Drill Hole Grade% Li2O Length (meters) --------------------------------------------------------------------------- SIR-12-63 1.43% 10.5 m ---------------------------------------------------------------------------
The technical sections of this press release were prepared by Jonathan Lalancette, eng., qualified person as defined in National Instrument 43-101.
All rock samples were sent for preparation and analysis to the ALS Chemex laboratory in Val-d'Or, Quebec. This laboratory is accredited ISO/IEC 17025: 2005 by the Standards Council of Canada (SCC). Nemaska Lithium Inc. applies a rigorous quality control protocol over all of its operations, including the insertion of certified analytical standards, duplicates and blanks and statistical follow-up of the results.
About Nemaska
Nemaska Lithium is a lithium exploration and development company with its Whabouchi and Sirmac deposits located in the James Bay Region in the Province of Quebec. Both projects are easily accessible year round by the Route du Nord from Chibougamau. The Whabouchi lithium deposit is located near the Cree community of Nemaska and the Nemiscau airport. The Sirmac project is located about 150km North of Chibougamau. Nemaska plans to become a lithium hydroxide/carbonate producer based in Quebec and has filed patent applications for its proprietary method to produce lithium hydroxide and lithium carbonate. The Corporation's lithium hydroxide/carbonate processing plant will be located in Valleyfield, Quebec. Chengdu Tianqi Industry Group Co., Ltd. is a strategic shareholder of Nemaska Lithium owning approximately 19 % of the outstanding shares of the Company.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nemaska to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Guy Bourassa
President
418 704-6038
[email protected]
Wanda Cutler
Investor Relations
416 303-6460
[email protected]
Victor Cantore
Investor Relations
514 831-3809
[email protected]
www.nemaskalithium.com
Jeff Walker
The Howard Group/ Investor Relations
888 or 403 221-0915
[email protected]
Source: Marketwire (November 13, 2012 - 8:34 AM EST)
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