Dajin Resources

Strategically Located Lithium Projects in North and South America

This Dajin Resources Corp. profile is part of a paid investor education campaign.*


Dajin Resources Corp. (TSXV:DJI, OTCMKTS:DJIFF, Germany:C2U1) is a Canadian exploration and development company, holding strategically located brine-based lithium projects in Nevada and Argentina, with assets that tie Dajin to the clean-tech economy and growing demand for a strategic mineral.

Dajin has been exploring in Nevada since 2014 and holds a 100 percent interest in the Teels Marsh valley and Alkali spring projects. Nevada hosts Tesla Motors’ (NASAQ:TSLA, partnered with Panasonic Corp.) new lithium-ion battery, power storage and electric vehicle gigafactory.

In Nevada, Dajin has been moving forward aggressively on exploration and development activities at Teels Marsh valley in preparation for drilling in 2017. Water rights for the Teels Marsh valley were granted to Dajin by the Nevada Division of Water Resources in 2016 and represent an important aspect of development that is becoming increasingly evident as companies situated in Clayton Valley vie for permits and water rights.

Dajin continues to believe that obtaining water rights is a crucial milestone for lithium exploration projects given both the importance of water for lithium brine extraction and the political issues surrounding water allocation in the state of Nevada. The Alkali spring project is outside the limits of the Clayton Valley basin and approximately seven miles from Albemarle’s Silver Peak lithium mine. Water rights have been applied for at Alkali Spring valley and are in process.

In April 2016, Dajin raised $1.27 million from a non-brokered private placement of 10.5 million units to 21 investors for the exploration and the development of their projects.

Dajin’s Salinas Grandes lithium brine project covers a massive land position in the Salinas Grandes and Guayatayoc salars in northwestern Argentina. Dajin has held these concessions since 2009. In September 2016, the company completed a transaction with LSC Lithium Corporation (LSC) wherein LSC paid Dajin $1 million and agreed to spend $2 million on the properties to earn a 51 percent interest in Dajin Resources S.A.’s lithium properties. As part of the transaction with LSC in September 2016, Dajin also closed a $500,000 non-brokered private placement with them. LSC states that Salinas Grandes may represent the best of all the properties they currently hold.

In February 2018, LSC reported the results from its first brine sample program, which showed results of 281 mg/l to 1,353 mg/l lithium, with an average 591 mg/l lithium.

On March 15, 2019, Pluspetrol Resources S.A. acquired control of LSC for US$85 million. Pluspetrol is the third largest hydrocarbon producer in Argentina with over 40 years of experience in the exploration and production of oil and gas. Pluspetrol has created the company Litica Resources S.A. to enter the business of “battery metals”.

Dajin Resources Corp. Investment Highlights

  • Dajin holds high-quality lithium exploration targets at a time of growing demand for this strategic metal.
  • Dajin’s key properties are advantageously located within Nevada’s lithium hub and South America’s Lithium Triangle.
  • The company is exploring for brine-based lithium, which can be mined at a substantially lower cost than hard rock deposits.
  • In Nevada, Dajin holds water rights at Teels Marsh valley and water rights are in process at Alkali Spring valley.
  • Teels Marsh valley property has surface brines with lithium values up to 79 mg/l.
  • Teels Marsh valley has been permitted for drilling and construction of roads and drill pads.
  • Dajin has a partnership in Argentina; large land package in Salinas Grandes and Guayatayoc salars.
  • Salinas Grandes has some of the best-reported lithium brine grades within South America’s Lithium Triangle.
  • Results from lithium brine samples at Salinas Grandes range from 281 mg/l to 1,353 mg/l lithium, with an average of 591 mg/l lithium.
  • Dajin’s management team has a strong track record and experience in lithium brine exploration and taking exploration projects from the early stages through to production.

Dajin Resources Corp. Key Properties

Teels Marsh, Nevada

The Teels Marsh valley project covers a surface area of 7,914 acres (3,202 hectares) consisting of 403 placer claims, 100-percent owned by Dajin Resources. The project is located in a separate closed basin roughly 50 miles (80 kilometers) northwest of Clayton Valley, home of Albemarle’s Silver Peak lithium mine. This mine is the only producing brine-based lithium deposit in North America. Dajin’s claims cover the substantive portion of the playa eliminating the risk of resource fragmentation.

In May 2018, Dajin signed a joint venture agreement with Geothermal Development Associates (GDA), a company focused on developing geothermal resources for electrical generation. GDA holds thermal leases that overlap Dajin’s placer claims in the Teels Marsh valley and as part of the joint venture agreement is expected to share exploration data with the aim of supporting the development of a Lithium brine extraction facility, the development of a geothermal electricity plant and the development of direct-use thermal water.

Favorable Lithium Brine Assay Results

In June 2016, Dajin reported favorable lithium brine assays results from Teels Marsh valley. The sampling program provided detailed information in the northwestern portion of the playa, where a total of 20 brine samples yielded concentrations as high as 71 ppm lithium, averaging 19 ppm and Boron concentrations as high as 930 ppm, averaging 227 ppm. Sediments associated with these brines have lithium concentrations as high as 740 ppm, averaging 475 ppm. Boron concentrations are as high as 11,800 ppm and averaging 2,600 ppm.

“These are some of the best lithium brine numbers to be announced outside Clayton Valley in Nevada for some time,” commented Brian Findlay, President and CEO of Dajin. “We are still in the early stage of exploration at Teels Marsh valley and we are anxious to begin our initial drilling to test the potential for finding significant Lithium brines at depth.”

Exploration Program

Dajin has been carrying out exploration at Teels Marsh valley since late 2014. The initial work on the marsh was surface sampling to confirm the presence of lithium-bearing minerals reported from US government surveys in the 1970s. In addition to high levels of lithium in the sediments, Dajin also confirmed lithium in surface brines. These brines were found to contain as much as 79 mg/l lithium. Following these discoveries, the company carried out gravity, magnetic and seismic surveys in addition to a comprehensive structural interpretation using all the data sets thus far collected. This interpretation of the gravity survey confirmed that the basin is at least 8,200 feet (2,500 meters) deep and extends farther to the north than originally thought.

Based on the finding, Dajin staked additional ground along the northern margins of its claims and now holds the substantive portion of the sub-surface basin based on these results. The great depth and lateral extent of the basin suggest that there is good potential to retain a large number of fluids within the subsurface aquifers.

In April 2017, the company released a NI 43-101 technical report for the Teels Marsh valley. “This report pulls together, interprets and verifies the results of the exploration work that Dajin has been undertaking at Teels Marsh valley since staking the property in 2014,” said President Brian Findlay.

In 2017, Dajin received its Notice from the Bureau of Land Management allowing it to commence the civil works and drilling proposed in the permit. Construction of 1.5 miles (2.4 kilometers) of road specially engineered for the playa surface with up to 4 feet (1.3 meters) of gravel is underway. In 2018, all access roads and two drill pads were completed.

The company used the results of the high-resolution seismic survey at Teels Marsh valley to confirm its great depth as well as identify numerous reflectors that could represent thick accumulations of volcanic ash, sand, gravel and/or evaporites within the basin. The survey confirms these horizons extend for considerable distance within the basin and have been used to help target the exploration wells.

Dajin has been working with EM Strategies of Reno (formally Enviroscientists) to prepare the baseline studies and documentation for a Plan of Operations (POO) to be submitted to the Bureau of Land Management. This POO will give Dajin flexibility to drill multiple wells beyond the four approved in the Notice. Dajin also holds water rights at Teels Marsh valley, so this is facilitating the permitting for drilling, testing and discharging any proposed wells. The 2018 drill program was launched near the beginning of the year.

Alkali Spring Valley, Nevada

Within the Alkali spring basin, Dajin holds 2,921 acres (1,182 hectares) through 145 placer mining claims, 100% owned. The basin is separated from Clayton Valley although only seven miles (11 kilometers) away. Gravity and magnetic surveys have been completed which show the basin to be over 4,000 feet (1,200 meters) deep with similar geology to Clayton Valley in that it is a classic fault bound closed-basin playa. Dajin has applied for water rights in the basin, and the application process is underway. A preliminary National Instrument 43-101 has been completed.

Dajin has signed an agreement with Cypress Development Corp. (TSXV:CYP) for the exploration and development of Dajin’s Alkali spring valley Lithium property located in Esmeralda County, Nevada.  The property is located 12 kilometers (7.5 miles) northeast of Cypress’ Clayton Valley lithium project in Nevada.

Under the terms of the Agreement, Cypress will have the exclusive right and option to earn a 50 percent undivided interest in Dajin’s unpatented placer mining claims and application for water rights in Alkali spring valley, Esmeralda County, Nevada.  Cypress has agreed to spend US$200,000 in exploration expenditures in the near future and US$250,000 in the second year. Upon successful completion of the two-year earn-in period, a joint venture (JV) will be created.

Dajin holds 145 unpatented placer mining claims to explore for lithium brines and has applied to the state of Nevada for 1,000 acre-feet of water rights.  Dajin and Cypress will work jointly to explore the property for lithium brines and lithium-bearing sediments and will work to perfect the associated water rights applications. Cypress and Dajin will share proportionally in property development once the terms of the earn-in agreement have been met and the joint venture is created.

Salinas Grandes, Argentina

Dajin controls a 100-percent interest in more than 93,000 hectares (230,000 acres) of lithium brine concessions located in Jujuy Province, Argentina, a region that is historically known to host lithium, potassium and boron brine-based deposits. Commonly referred to as the Lithium Triangle, it is home to an estimated 80 percent of the world’s lithium supply. The properties are situated in the Salinas Grandes/Guayatayoc salt lakes basins. LSC, Dajin’s partner in Argentina announced the acquisition of adjoining tenements in Salinas Grandes. This positions LSC to be the largest owner of tenements in Salinas Grandes. LSC anticipates that once approvals have been given to explore and exploit the very large lithium deposits in Salinas Grandes that it will be positioned to become the sole operator, thus avoiding resource fragmentation.

On March 15, 2019, Pluspetrol Resources S.A. acquired control of LSC for US$85 million. Pluspetrol is the third largest hydrocarbon producer in Argentina with over 40 years of experience in the exploration and production of oil and gas. Pluspetrol has created the company Litica Resources S.A. to enter the business of “battery metals”.

Dajin has been actively working with the Government of Jujuy and the indigenous communities to secure the exploration permits for its concessions. In October 2016, Dajin completed a transaction with LSC Lithium Corporation to earn a 51-percent stake in Dajin’s Lithium properties in Argentina. LSC has made a $1 million payment in cash and agreed to spend an additional $2 million on the exploration of the project. In addition, as part of the transaction, LSC has invested $500,000 at $0.18 per unit in a non-brokered private placement which Dajin used to advance its projects in Nevada.

In February 2018, following the receipt of a permit for exploration, Dajin announced that LSC had completed its first phase of exploration on the Salinas Grandes salar. The program included the collection of 25 shallow brine samples over 550 hectares. Concentrations from these samples ranged from 281 mg/l to 1,353 mg/l lithium, with an average of 591 mg/l lithium.

Dajin Resources Corp. Management

Brian Findlay – President, Chief Executive Officer and Director

Brian Findlay brings decades of senior management experience in various aspects of the industry. He learned the business from the ground up and has participated in the raising of large amounts of investment capital for a number of junior resource and technology companies. He is an expert at managing public companies with international interests. It is Findlay’s integrity, as an honest and dedicated CEO that builds trust and credibility with his shareholders.

Dr. Catherine Hickson P. Geo, FGAC, FSEG, FRGS, FGC – Director and COO

Dr. Catherine Hickson is a globally recognized geoscience expert and manager with more than 30 years’ experience, Catherine Hickson has a proven track record of delivering technical expertise and organizational enhancements that elevate corporate value. She began her career with NRCAN – Geological Survey of Canada – quickly progressed to the executive-level. Dr. Hickson has been recognized with a number of awards, including the prestigious C.J. Westerman Memorial Award presented by the APEGBC, and the Head of the Public Service Award, given by the Clerk of the Privy Council.

Dr. Mark Coolbaugh, CPG – Director

Dr. Mark Coolbaugh is a renowned metals and geothermal geologist with 30 years of project, research, and management experience in North and South America, Asia, and Europe. His experience includes management of corporate and country-wide exploration programs, research and development of geothermal exploration tools and predictive models, assessment of geothermal and mineral projects, and construction of quantitative ore reserve models. Dr. Coolbaugh played an instrumental role in a number of green-fields geothermal and precious metal discoveries including discovery of the blind geothermal systems in Teels, Rhodes, and Columbus marshes in southwestern Nevada.

Cosme Beccar Varela – Director, Dajin Resources S.A.

Cosme Varela graduated as a lawyer at the University of Buenos Aires in 1989 Practiced as a “foreign associate” in Winthrop, Stimson, Putnam & Roberts, New York (1990). He served as an Associate Professor of Contract Law in University of Buenos Aires as well as a Committee Member of Banking Lawyers. His practice focuses on Commercial Law, Mining Law, and Litigation. He has been associated with Dajin since 2008.

Dajin Resources Corp. Technical Advisory Board

Walter (Dick) Benoit, M.Sc.

Dick Benoit is President of Sustainable Solutions, a Nevada consulting company focused on geothermal resources and drilling. Sustainable Solution’s clients include a wide variety of private companies and governmental agencies, both domestically, and internationally. Completed and ongoing projects have included evaluations of prospect areas, exploration for geothermal resources using all available geoscience techniques, as well as drill program development and supervision.

Roberto Page

Roberto Page graduated as a geologist from Buenos Aires University and has worked since graduation at Argentina’s Geological Survey (SEGEMAR) until his retirement in May 2016. Page reached the highest management position at the Survey including time directing the Institute of Geology and Mineral Resources (within SEGEMAR). During his tenure with the Survey he was involved in the promotion of mining investment in Argentina. Between 2005 and 2009, Page was the President of the Argentine Geological Association and the Argentine International Union of the Geological Sciences National Committee (IUGS).

Dr. Beatriz (Betty) Coira

Dr. Betty Coira is a noted geologist based in Jujuy, Argentina. She is a geoscience expert with more than 40 years’ experience in volcanism, regional mapping, geothermal energy and mining exploration in the Central Andes. She was Director of the Geological and Mining Institute, University of Jujuy, for 8 years and is now Professor Emeritus Universidad Nacional de Jujuy. She continues as Principal Investigator, National Council of Science and Technology Research (CONICET) as well as being a board member of the Center of Research and Transference. Dr. Coira has been recognized with a number of Honors and Prestigious Awards and in 2014 she received the Argentina Mining Award: Outstanding woman in Mining.

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