First Pass Sampling on Vranje-South Project Defines Li-B Anomalies

Transcription

1 Hay Street Subiaco, Western Australia 6008 T:+61 (0) F: +61 (0) August 2018 First Pass Sampling on Vranje-South Project Defines Li-B Anomalies HIGHLIGHTS Interpretation completed of first pass sampling data on Vranje -South project Preliminary stream sediment and soil surveys define a number of areas with elevated Lithium and Borate mineralisation on the Vranje-South project Good correlation between B and Li zones in 2 areas Follow-up sampling program currently being planned Jadar Lithium Limited (ASX: JDR) ( Jadar or the Company ) is pleased to provide the following update on its maiden reconnaissance sampling and mapping activities on its Vranje-South project in Serbia. The initial soil and stream sediment sampling program focused on district scale faults and fractures which are present within the sedimentary basin. The program was completed in the previous quarter and the samples were sent to the ALS laboratory in Bor, Serbia where sample preparation was conducted. These samples (pulps) were then forwarded to the ALS laboratory in Canada for further analysis of Lithium, Boron and associated elements. Stream Sediment and soil sampling The objective of the maiden sampling program was to identify anomalous zones within the license area, which may point to lithium-borate mineralisation at depth. Areas covered with Miocene sediments are potentially prospective for Jadar style Lithium-Borate mineralisation. The soil sampling program has defined 4 zones with elevated Boron anomalies, two of which are also elevated in lithium. The program has defined four clusters with elevated B in soil results and within what are considered prospective sedimentary sequences. The zones which are elevated in Boron are located on, and in close proximity to fault lines and trends within the basin sediments. The Boron values reach over 800 part per million () which is considered significant. The lithium values within the soil samples define two areas which are considered anomalous. Importantly, the elevated lithium clusters are also associated with the elevated Boron values. The Company considers that the results warrant further follow-up work which will aim to define the anomalies in more detail. Further sampling will be conducted over the entire permit to determine if any further anomalies will be defined. Jadar Lithium Limited ABN

2 Figure 1 - Vranje-South project geology and Lithium soil sampling locations and results 2

3 Figure 2 - Vranje-South geology, soil sampling positions and Boron results Planned activities for current Quarter: Infill sampling of the target areas and step-out soil sampling across the entire permit Geophysics to determine depth of the basin if the follow up sampling program confirms the target The Company is interpreting the results of other projects and on completion will release these results. ENDS 3

4 Further Enquiries Luke Martino Non-Executive Chairman Tel: E: luke@jadarlithium.com.au Competent Person Statement The information contained in this ASX release relating to Exploration Results has been compiled by Mr Jerry L Aiken, who is a Registered Member of the Society for Mining, Metallurgy & Exploration (SME). Mr. Aiken has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration, and to the activity being undertaken to qualify as a competent person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the 2012 JORC Code). Mr. Aiken is a consultant to Jadar Lithium Limited and consents to the inclusion in this announcement of this information in the form and context in which it appears. Disclaimer Certain statements included in this release constitute forward looking information. This information is based upon a number of estimates and assumptions made on a reasonable basis by the Company in light of its experience, current conditions and expectations of future developments, as well as other factors that the Company believes are appropriate in the circumstances. While these estimates and assumptions are considered reasonable, they are inherently subject to business, economic, competitive, political and social uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forwardlooking information and statements. Whilst the Company considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove correct or that the outcomes indicated in the announcement will be achieved. Forward-looking statements are statements that are not historical facts. Words such as expect(s), feel(s), believe(s), will, may, anticipate(s), potential(s) and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration programs and results. Many factors could cause the Company s actual results to differ materially from those expressed or implied in any forward-looking information provided by, or on behalf of, the Company. Such factors include, among other things, risks relating to lithium and other commodity prices and currency fluctuations; exploration risks; risks relating to the interpretation of exploration, sampling, drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, development risks, operating risks; competition; time delays, regulatory restrictions; environmental harm and liability and additional funding requirements. Further, despite the Company having attempted to identify all material factors that may cause actual results to differ, there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-looking information is no guarantee of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking information due to the inherent uncertainty therein. Forward-looking information is made as at the date of this release (or as otherwise specified) and except as required by applicable law the Company does not undertake any obligation to update publicly such forward-looking information, whether as a result of new information, future events or results or otherwise 4

5 Table 1. Soil Sampling results - Vranje South ME-MS89L method Sam. Ag As B B MS89L Ba Be Bi Ca Cd Ce Co Cs Cu Dy Er Eu Fe Ga Gd Ge S S-703 < < S-704 < < S-706 < <0.1 1 < S S S S-721 < S-723 < < S S-725 < < S < S-727 < < S-728 < < S S < S S-735 < S-736 < S S < S S S-741 < S S-743 < < S S < < S-747 < S

6 Sam. Ag As B B MS89L Ba Be Bi Ca Cd Ce Co Cs Cu Dy Er Eu Fe Ga Gd Ge S-749 < < S-750 < < S S < S S S S-756 < < S S S < S < S < S S S S < S S S S S S S S-773 < < S-774 < < S < S-776 < < S-777 < < S < S < S-780 < <

7 Sam. Ag As B B MS89L Ba Be Bi Ca Cd Ce Co Cs Cu Dy Er Eu Fe Ga Gd Ge S-781 < < S S S < S < S < S S S S S S < S-793 < < S S < S S S S S < S S S S-805 < S S S-810 < S-811 < < S S S-816 < < S-818 <

8 Sam. Ag As B B MS89L Ba Be Bi Ca Cd Ce Co Cs Cu Dy Er Eu Fe Ga Gd Ge S S-822 < < S-825 < S-826 < < S S S-831 < S S S S S < S S S S S S S < S S-847 < S-848 < < S S-851 < < S-852 < S S S < S S S S

9 Sam. Ag As B B MS89L Ba Be Bi Ca Cd Ce Co Cs Cu Dy Er Eu Fe Ga Gd Ge S S Table 2. Soil Sampling Vranje South ME-MS89L method Sam. Ho In K La Li Lu Mn Mo Nb Nd Ni Pb Pr Rb Re Sb Se Sm Sn Sr S S < < < < <3 350 S < < < <3 250 S < < < <3 290 S < < S < < <3 6.6 <3 280 S < < < <3 230 S < < < <3 260 S < < < < <3 360 S < < S < <3 340 S < < < <3 280 S < < <3 5.3 <3 260 S < < < S < < < <3 150 S < < < < <3 290 S < < < S < < < < <3 400 S < < < <3 280 S < < < < <3 280 S < < < < <3 330 S < < < < <3 220 S < < <3 210 S < < < < <

10 Sam. Ho In K La Li Lu Mn Mo Nb Nd Ni Pb Pr Rb Re Sb Se Sm Sn Sr S < < <3 210 S < < < < <3 300 S < < < <3 320 S < < < <3 360 S < < < <3 240 S < < S < < < <3 160 S < < <3 160 S < < < <3 5.4 <3 170 S < < < <3 140 S < < <3 200 S < < < < <3 150 S < < < < <3 200 S < < <3 190 S < < < <3 260 S < < <3 360 S < < <3 190 S < < < <3 130 S < < < <3 250 S < < < < <3 200 S < < < S < < < <3 200 S < < < < <3 200 S < < < <3 190 S < < S < < < S < < < < S < < S < < S < < S < < < S < < < < <

11 Sam. Ho In K La Li Lu Mn Mo Nb Nd Ni Pb Pr Rb Re Sb Se Sm Sn Sr S < < < <3 210 S < <3 430 S < < < <3 210 S < < <3 200 S < < < < <3 210 S < < < S < < S < < < <3 330 S < < < < <3 170 S < < <3 290 S < < S < < < <3 190 S < < <3 400 S < < <3 370 S < < S < < < <3 390 S < < S < < < <3 510 S < < < S < < < S < < S < < <3 320 S < < <3 270 S < < < < <3 280 S < < < <3 200 S < < < <3 150 S < < < < <3 270 S < < S < S < < < <3 4.9 <3 280 S < < S < <

12 Sam. Ho In K La Li Lu Mn Mo Nb Nd Ni Pb Pr Rb Re Sb Se Sm Sn Sr S < < S < < S < < S < < < S < < < <3 310 S < < < < <3 260 S < < < <3 340 S < < < < <3 330 S < < < <3 550 S < < < <3 300 S < < < < <3 120 S < < < < <3 170 S < < < <3 200 S < < < <3 210 S < < < <3 130 S < < < <3 140 S < < <3 150 S < < < <3 180 S < < < < <3 300 S < < < < <3 340 S < < < < <3 140 S < <3 5.7 <3 120 S < < < < <3 220 S < < < < <3 130 S < < < <3 4.5 <3 320 S < < < < <3 260 S < < < S < < < < S < < < < <3 100 S < < < S < < S < < < < <

13 Sam. Ho In K La Li Lu Mn Mo Nb Nd Ni Pb Pr Rb Re Sb Se Sm Sn Sr S < < < <3 200 S < < < < <3 190 S < < < <3 200 S < < < <3 150 S < < < <3 380 S < < < < <3 230 S < < < < <3 240 S < < < < <3 220 Table 3. Soil Sampling VranjeSouth -ME-MS89L method Sam. Ta Tb Te Th Ti Tl Tm U V W Y Yb Zn S S < S < S < S S S S S < S < S < S S < S S S < S < S < S <

14 Sam. Ta Tb Te Th Ti Tl Tm U V W Y Yb Zn S < S < S < S < S < S < S S < S < S < S < S < S < S < S < S < S < S < S S < S < S < S < S < S < S S S < S < S S < S

15 Sam. Ta Tb Te Th Ti Tl Tm U V W Y Yb Zn S < S < S S S < S < S < S < S < S S < S S < S S < S < S < S < S < S S < S S S S < S S < S < S < S < S < S <

16 Sam. Ta Tb Te Th Ti Tl Tm U V W Y Yb Zn S S S S S < S S S S S < S < S < S < S S < S < S < S < S < S < S < S < S < S < S < S S < S < S < S < S < S <

17 Table 4. Soil Sampling Vranje South ME-MS89L method Ag As Sam. Ta Tb Te Th Ti Tl Tm U V W Y Yb Zn S S < S S S < S S < S < S < S < S < S < S < Ba Be Bi Ca Cd Ce Co S S-702 < < S < S-704 < < S-706 < < S-707 < < S-708 < < S-709 < < < S S S-712 < < S-713 < < Cs Cu Dy Er Eu Fe Ga Gd Ge Ho 17

18 Ag As Ba Be Bi Ca Cd Ce Co S S-715 < < S S-717 < S-718 < < < < S < S-720 < < S S S-724 < S < S-726 < < S S-728 < S S S S < S-733 < S S S-736 < < S-737 < < S < S S S Cs Cu Dy Er Eu Fe Ga Gd Ge Ho 18

19 Ag As Ba Be Bi Ca Cd Ce Co S-742 < S-743 < S-744 < < S-745 < < S-746 < < < S-747 < < S-748 < < S-749 < < S S-751 < < S S < S < S S-756 < < S-757 < < S-758 < S-759 < < S-760 < S-761 < < S-762 < S-763 < S-764 < S-765 < < S-766 < < S-767 < S-768 < Cs Cu Dy Er Eu Fe Ga Gd Ge Ho 19

20 Ag As Ba Be Bi Ca Cd Ce Co S-769 < S-770 < < S-771 < < S-772 < < S-773 < < S < S S S S S S-780 < < S-781 < < S-782 < < S-783 < < S-784 < < S-785 < < S-786 < S-787 < < S-788 < < S-789 < < < S-790 < < S-791 < < S-792 < < < S-793 < S-794 < S-795 < < Cs Cu Dy Er Eu Fe Ga Gd Ge Ho 20

21 Ag As Ba Be Bi Ca Cd Ce Co S < S-798 < < S-799 < S-800 < < S-801 < < S < S-803 < < S-804 < S-805 < S-806 < S S-809 < < S-810 < < S-811 < S S < S < S-815 < < S < S-817 < < < S-818 < < S-819 < < S-820 < S-821 < S-822 < < S-823 < S-824 < < Cs Cu Dy Er Eu Fe Ga Gd Ge Ho 21

22 Ag As Ba Be Bi Ca Cd Ce Co S-825 < S-826 < S-827 < S-828 < S-829 < < S-830 < < S S-832 < < S S S-835 < < S-836 < S < S-838 < S S < S-841 < < S < S < S-845 < < S-847 < S-848 < < S S-851 < < S-852 < < S-853 < < S-854 < Cs Cu Dy Er Eu Fe Ga Gd Ge Ho 22