Welcome!

News Feed Item

Nemaska Increases Mineral Resource at Whabouchi

Improves Grade and tonnage

QUEBEC CITY, QUEBEC -- (Marketwired) -- 01/28/14 -- Nemaska Lithium Inc. ("Nemaska" or the"Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF)(FRANKFURT:N0T) is pleased to announce that, following the completion of the September 2013 diamond drilling campaign, (see press release of November 13, 2013), an updated Mineral Resource estimate has been completed by Jean-Philippe Paiement, M.Sc. P.Geo., of SGS Canada Inc. - Geostat ("SGS Geostat"). The Mineral Resource was estimated and limited inside an optimized pit shell. The resources were interpolated using Genesis© and the block model was submitted to Met-Chem Inc. to run pit optimization using Mine Sight©. The interpolated blocks of the block model located below the optimised pit shell are not included in the updated Mineral Resources. The company is currently preparing a National Instrument 43-101 compliant Feasibility Study on the Whabouchi project, which will include the updated Mineral Resource estimate. Currently there is a National Instrument 43-101 compliant Preliminary Economic Assessment report on the Whabouchi project that incorporates the past Mineral Resource estimate prepared by Andre Laferriere, M.Sc. P.Geo., of SGS Canada Inc. - Geostat ("SGS Geostat") with an effective date of June 6, 2011.

The following table shows the difference between the 2011 and the 2014 resource estimate:

----------------------------------------------------------------------------
     2014 vs 2011 Mineral Resource Estimate (In-pit) - Whabouchi Project    
----------------------------------------------------------------------------
                                   2014                   2011              
                        2014       Li2O        2011       Li2O   Increase in
Resources            Tonnage      Grade     Tonnage      Grade       tonnage
 Categories          (Mt)(i)        (%)     (Mt)(i)        (%)          (Mt)
----------------------------------------------------------------------------
                                                                            
Measured              12.998       1.60      11.294       1.58         1.704
----------------------------------------------------------------------------
                                                                            
Indicated             14.993       1.54      13.785       1.50         1.208
----------------------------------------------------------------------------
Measured +                                                                  
 Indicated            27.991       1.57      25.079       1.54         2.912
----------------------------------------------------------------------------
                                                                            
Inferred               4.686       1.51       4.401       1.50         0.285
----------------------------------------------------------------------------
(i)Note: The mineral resource estimate has been calculated using the        
Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definitions    
Standards for mineral resources in concordance with National Instrument 43- 
101 - Standards of Disclosure for Mineral Projects. Mineral resources which 
are not mineral reserves do not have demonstrated economic viability.       
Inferred mineral resources are exclusive of the Measured and Indicated      
resources.                                                                  
                                                                            
Bulk density of 2.70 t/m3 is used. Effective date January 22, 2014. (i)     
Rounded to the nearest thousand.                                            

"In any mining project, regardless of the commodity or location, grade is king, commented Guy Bourassa, President and CEO of Nemaska Lithium. "Whabouchi is an exceptionally high grade lithium deposit unlike any other in North America and we are very pleased with the updated Mineral Resource estimate, as it shows an increase in both tonnage and grade of the measured and indicated resources," commented Guy Bourassa, President and CEO of Nemaska. The homogeneity of the grade within the optimized pit shell is clearly shown in the attached grade curve analysis. "Equally important is the fact that the deposit remains open at depth and that the blocks of the resources model located below the optimised pit shell are not included in the Mineral Resources as it can be seen on the attached longitudinal view. This update of the Resource estimate is a positive step in finalizing the Feasibility Study on the Whabouchi project. We have a potential of 25+ years of resources to be mined. We are planning to release the Feasibility Study during this quarter which will include this updated Mineral Resource estimate. We expect that these resources numbers will positively impact the economics of the project."

The mineral resources were estimated based on the following geological and resources block modeling parameters(i):

--  Mineral resources were evaluated from the diamond drill holes and
    channels analytical results completed by Nemaska since 2009. Historical
    drill holes and channels were not used for the current mineral resources
    estimates. A total of 479 drill holes/channels and 9,358 assays were
    used for the mineral resources model. 
    
--  The mineral resources 3-D modeling of mineralized pegmatite dyke was
    conducted using a minimal modeling grade of 0.50% Li2O over a 2m
    horizontal thickness. 
    
--  Block Model Interpolation was done using Ordinary Kriging. The block
    model was defined by block size of 5m long by 3m wide by 5m thick and
    covers a strike length of 1,315m to a maximal depth of 520m below
    surface. The final mineral resources which are located inside the
    optimised pit reach 320m below surface (maximum depth of optimised pit).
    
--  The interpolation was conducted using composited assays of 2m in length.
    The Mineral Resources were modeled and estimated using Genesis©
    software. 
    
--  The cut-off grade of the reported Mineral Resources is 0.43% Li2O. 
    

(i)Based on the Memorandum received from SGS Geostat, dated January 22, 2014.

The technical information in this press release has been reviewed by Jean-Philippe Paiement, M. Sc. P. Geo., Qualified Person as defined in National Instrument 43-101.

About Nemaska

Nemaska intends to become a lithium hydroxide/carbonate producer based in Quebec and has filed patent applications for its proprietary methods to produce lithium hydroxide and lithium carbonate. In tandem, the Corporation is developing one of the richest spodumene lithium hard rock deposit in the world, both in volume and grade. Spodumene concentrate produced at Nemaska's Whabouchi mine and from other global sources will be shipped to the Corporation's lithium hydroxide/carbonate processing plant to be built in Salaberry-de-Valleyfield, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and lithium carbonate mainly for the growing lithium battery market.

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.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.

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

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear these words all day every day... lofty goals but how do we make it real? Add to that, that simply put, people don't like change. But what if we could implement and utilize these enterprise tools in a fast and "Non-Disruptive" way, enabling us to glean insights about our business, identify and reduce exposure, risk and liability, and secure business continuity?
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the tec...
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
DXWorldEXPO LLC announced today that Telecom Reseller has been named "Media Sponsor" of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...