Tickers: PINX:DJIFF, XTSX:DJI
Tags: Mining
Vancouver, BC / TheNewswire / December 19, 2017 - Dajin Resources Corp. ("Dajin") (TSX-V: DJI) (OTC: DJIFF) (Germany: C2U1) announces that following completion of a recent financing where it raised $1,281,150, thanks to the support of Dajin warrant holders, management is now moving forward with construction of roads and pads for drilling of their 100% owned Teels Marsh Lithium project in Mineral County, Nevada.
Earlier exploration work by Dajin has shown the Teels Marsh valley to be highly prospective for Lithium brines, and Dajin now has the funds to move the project forward. Director and COO, Dr. Catherine Hickson PGeo and fellow Director, Dr. Mark Coolbaugh CPG, were recently in Reno, Nevada meeting with contractors to prepare for the construction of roads and drill pads. This work will be overseen by Welsh Hagan Associates, Reno Nevada. Welsh Hagan is a full-service Mining, Civil and Environmental engineering firm and has been working with Dajin on the Teels Marsh valley project. Dajin has received all necessary permits from the Bureau of Land Management and holds 100% of the required water rights awarded by the Office of the State Engineer to move the project forward. Dajin plans to commence drilling as soon as the roads and pads are completed.
Dajin is pleased to report that exploration work by Dajin's partner, LSC Lithium Corporation ("LSC") in Salinas Grandes, Jujuy Province, is gaining momentum. The Cooperativa San Jose received a permit for the exploration of the 4,400 hectare (10,873 acres) San Jose and Navidad minas. This exploration is commencing under the management of LSC, the operator of the earn-in agreement with Dajin. LSC is also verifying prior work completed on the Salinas Grandes salar by previous exploration companies and plans to release in early 2018 a National Instrument 43-101 report that will update the existing National Instrument 43-101 prepared by Orocobre Ltd. (August 12, 2013). The San Jose - Navidad minas have not yet been explored for Lithium but past exploration by other companies in close proximity to the property included sampling from one-meter-deep pits. Of the seven closest samples taken from the property boundary along both the north and west sides up to a distance of 200 meters, assays of Lithium brine concentrations ranged from 279 mg/l to 987 mg/l, averaging 551 mg/l. Lithium brine samples within one (1) km of the property boundary are reported to contain up to 1,122 mg/l Lithium. The highest reported Lithium value in the Salinas Grandes salar exceeds 3,000 mg/l.
About Dajin:
Dajin, is an early stage Lithium exploration company. Through its interest in Dajin Resources S.A. ("Dajin S.A."), it holds concessions or concession applications in Jujuy Province, Argentina that were acquired in regions known to contain brines with Lithium, Potassium, and Boron values. These land holdings exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes and Guayatoyoc salt lake basins. Dajin S.A. is partnered with LSC Lithium Corporation (LSC) who has agreed to spend $2,000,000 to earn a 51% interest in Dajin S.A.'s Lithium properties while building a significant presence in Argentina. The Cooperativa San Jose recently received exploration permits for a portion of the land package now part of the earn-in agreement with LSC. Exploration of the 4,400 hectares (10,873 acres) San Jose - Navidad minas will commence under the management of LSC, the operator of the earn-in agreement.
Dajin also holds a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley of Mineral County, Nevada. These claims are known to contain Lithium and Boron values and are adjacent to the birth place of US Borax Corp's first borax mine. Dajin also holds a 100% interest in 191 placer claims covering 3,851 acres (1,558 hectares) in the Alkali Lake valley of Esmeralda County, Nevada, located 7 miles (11 kms) northeast of Albemarle's Silver Peak Lithium brine operation in Clayton Valley.
ON BEHALF OF DAJIN'S BOARD OF DIRECTORS
Brian Findlay For further information please contact:
President & CEO Julie Hajduk at 604-609-6151 or julie@dajin.ca
Head of Corporate Development
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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