Bearing Reports Significant Results from Deep Drilling at Maricunga

Bearing Resources (TSXV:BRZ) has received results from Li3 Energy from the ongoing exploration program at the Maricunga lithium brine project in Chile.
As quoted in the press release:

Bearing has entered into a definitive agreement to acquire Li3 and its interest in the Maricunga lithium brine project (the “Li3 Definitive Agreement”). Li3 holds a 17.7% interest in the project along with Minera Salar Blanco (“MSB”) and Lithium Power International Limited (“Lithium Power”) at 32.3% and 50% respectively. Under the terms of the joint venture, Lithium Power has agreed to fund exploration and development costs with both Li3 and MSB having a free carry until the completion of a definitive feasibility study.
Exploration Results
Assay results were released for three holes, two of which were drilled on the “old code” Cocina tenement and one on the Litio tenement. Results were initially released by Lithium Power on February 15^th, 2017 (Australia). Highlights of drilling include the deep hole S19, drilled to a depth of 360 metres on the Cocina tenement, which averaged 975 mg/l lithium over a 336-metre interval with a peak assay of 1,614 mg/l lithium. Hole S19 represents the deepest hole drilled on the project to date, compared to the majority of holes from the current exploration program that were drilled to around 200 metres, with high-grade lithium bearing sands present at the end of the hole. All holes from the current phase of the exploration program have now been released and will form the basis of a resource estimate which is anticipated in Q2/17.
Cocina (2 holes) – Rotary drill hole S19 was drilled to a depth of 360 metres with the objective of testing the potential of the lithium-bearing sands encountered in drilling of the upper 200 metres at depth. Sample assays returned an average grade of 975 mg/l lithium and 7,273 mg/l potassium over the 336-metre sample interval (from 18 metres to 354 metres) with a peak of 1,614 mg/l lithium and 10,610 mg/l potassium over a 6-metre sample at 18 metres depth. The hole terminated in high-grade lithium bearing sands at depth with assays of 877 mg/l lithium and 6,910 mg/l potassium over a 6-metre sample at a depth of 354 metres. Sonic drill hole S2 was drilled to a depth of 200 metres, averaging 954 mg/l lithium and 6,580 mg/l potassium over the 192-metre sample interval (from 5 metres to 197 metres) with a peak of 1,940 mg/l lithium and 13,210 mg/l potassium over a 6-metre sample at 5 metres depth.

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