Dajin Resources Corp. (“Dajin”) (TSXV:DJI, OTC:DJIFF, Germany:C2U1) is pleased to report that a meeting with the management of Litica Resources S.A., the Lithium operating subsidiary of Pluspetrol, took place June 24, 2019 at the Pluspetrol office in Buenos Aires, Argentina.
Dajin Resources Corp. (“Dajin”) (TSXV:DJI, OTC:DJIFF, Germany:C2U1) is pleased to report that a meeting with the management of Litica Resources S.A., the Lithium operating subsidiary of Pluspetrol, took place June 24, 2019 at the Pluspetrol office in Buenos Aires, Argentina. The purpose of the meeting was to discuss with Litica Resources their short and long-term plans to fulfill their investment commitment to explore and evaluate Dajin Resources S.A. land holdings. In March 2019, Pluspetrol acquired the assets of LSC Lithium Corporation for a cash consideration of approximately CDN$111 million. LSC Lithium held an earn-in agreement with Dajin to spend CDN $2,000,000 in exploration expenditures to earn a 51% interest in Dajin Resources S.A.’s. concessions of which approximately $325,000 has been spent. Litica’s exploration team has been organizing a comprehensive plan to review and explore the concessions in the Dajin portfolio since acquiring LSC Lithium.
In addition to the meeting in Buenos Aires, Dajin COO and Director, Dr. Catherine Hickson P.Geo. participated in the Lithium conference held in Jujuy, Argentina June 18th and 19th. The conference, attended by over 600 people, showed the great diversity of projects and technical teams supporting or working on projects in Argentina. Mr. Joe Lowry was a keynote speaker and provided extensive background and analysis of the current Lithium market. His analysis suggests that there is significant room for new projects and he strongly encouraged the developments taking place in Argentina. Hickson also met with the Litica technical staff in Salta and Jujuy and travelled to the field to review the project area.
Dajin Resources S.A. 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 concessions exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes and Guayatayoc salt lake basins. During the initial near surface exploration program, brine samples from of a portion of the holdings covering an area of 550 hectares (1,359 acres) in the northwestern corner of the 4,300 hectares (10,621 acres) San Jose Navidad minas were taken. Lithium values received from 25 assays ranged from 281 mg/l to 1,353 mg/l, averaging 591 mg/l.
About Pluspetrol: (www.pluspetrol.net)
Pluspetrol is a private, international energy company with over 40 years experience in the exploration and production of oil and gas. Pluspetrol is the third largest hydrocarbons producer in Argentina. With operations in Angola, Argentina, Bolivia, Colombia, Peru, and offices in United States, Uruguay and the Netherlands, Pluspetrol promotes energy development and fosters activities at an international level. Pluspetrol has created the company Litica Resources S.A. to enter the business of “battery metals”.
About Dajin: (www.dajin.ca)
In Nevada Dajin holds a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley of Mineral County, Nevada. All permits for drilling have been received and access roads and two large drill pads have been constructed These claims are known to contain Lithium and Boron values.
Dajin has entered into an agreement with Cypress Development Corp. whereby with the expenditure of US$500,000
on exploration over two years can earn a 50% interest in 145 placer claims covering 2,921 acres (1,182 hectares) in the Alkali Spring valley of Esmeralda County, Nevada, located 10 miles (15 kilometers) northeast of Albemarle’s Silver Peak Lithium brine operation in Clayton Valley.
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