Resource News

QUEBEC CITY, QUEBEC–(Marketwired – July 28, 2016) – Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX)(OTCQX:NMKEF) is pleased to provide an update on the previously announced definition drilling campaign for its Whabouchi lithium project (44 drill holes over 13,700 m). The drilling is progressing at a faster than expected rate, and to date Nemaska …

QUEBEC CITY, QUEBEC–(Marketwired – July 28, 2016) – Nemaska Lithium Inc. (“Nemaska Lithium” or the “Corporation”) (TSX:NMX)(OTCQX:NMKEF) is pleased to provide an update on the previously announced definition drilling campaign for its Whabouchi lithium project (44 drill holes over 13,700 m). The drilling is progressing at a faster than expected rate, and to date Nemaska Lithium has drilled 22 holes totalling 5,935 metres. The drill hole are oriented towards N300° with a dip ranging from 45° to 65°. The drilling thus far has confirmed the continuity of the dykes down to 200 metres from surface in the eastern part of the deposit and spodumene bearing pegmatite dykes were observed in all holes. Drilling is now expected to be completed by the end of August with initial drill results out by September 2016.
The main objectives of this program are to convert the existing pit constrained inferred resource into measured and indicated, to add near surface resources in the east zone of the pit design as well as confirming continuity of further resources at depth below the 200 m level.
“This drilling confirms that there are additional dykes on the Whabouchi deposit, which is already classified as one of the best pegmatite lithium deposits in the world,” said Guy Bourassa, President and CEO of Nemaska Lithium. “I look forward to reporting the drill results in the next couple of months, which will unveil its impact on the projected Whabouchi life of mine.”
The table below give the details of the intersections, greater than 3m long core, that are currently logged, indicating the intersections of spodumene bearing pegmatite that were intersected. Assay results will be released when completed.
SectionHole NameFrom (m)To (m)Core length (m)True width* (m)
06+25WHA-16-155357.5369.412.06.3
06+25WHA-16-155337.5351.514.17.4
06+25WHA-16-155312.7331.218.59.7
07+75WHA-16-183206.6223.917.39.1
08+50WHA-16-172248.6262.714.17.4
08+50WHA-16-172275.0299.124.112.7
08+75WHA-16-173240.7246.45.83.0
08+75WHA-16-173266.7284.217.59.2
09+50WHA-16-174259.6267.17.53.9
09+50WHA-16-174238.0246.08.04.2
09+50WHA-16-17472.081.69.65.0
09+50WHA-16-174276.8288.711.96.2
09+75WHA-16-156146.1157.211.15.8
09+75WHA-16-156221.6233.011.56.0
09+75WHA-16-15654.366.812.56.5
09+75WHA-16-156241.6254.412.96.8
10+00WHA-16-15765.474.89.44.9
10+00WHA-16-157161.0171.710.75.6
10+00WHA-16-157132.3143.110.85.7
10+00WHA-16-157234.0259.525.513.4
10+25WHA-16-158163.2172.08.84.6
10+25WHA-16-158213.3223.410.15.3
10+25WHA-16-158132.4143.811.46.0
10+50WHA-16-176181.8187.96.23.2
10+50WHA-16-17666.572.96.43.4
10+50WHA-16-176274.6285.611.05.8
10+75WHA-16-15986.091.75.83.0
10+75WHA-16-159154.8162.17.33.8
10+75WHA-16-159106.4115.38.84.6
10+75WHA-16-15928.946.217.39.1
11+50WHA-16-160248.9254.96.03.2
11+50WHA-16-16011.518.36.83.5
11+50WHA-16-160237.6245.98.34.4
11+50WHA-16-160187.4202.014.57.6
11+50WHA-16-160100.5126.125.713.5
12+00WHA-16-16155.565.09.55.0
12+00WHA-16-161146.6160.413.87.2
12+00WHA-16-161198.0213.215.28.0
12+00WHA-16-16182.5104.922.411.8
12+50WHA-16-16280.690.610.05.3
12+50WHA-16-162171.7185.513.87.2
12+75WHA-16-16496.3102.15.83.1
12+75WHA-16-1631.112.111.05.8
12+75WHA-16-16354.866.011.25.9
12+75WHA-16-164110.3124.414.17.4
12+75WHA-16-16427.049.822.812.0
13+00WHA-16-17832.741.48.74.6
13+00WHA-16-178229.3238.18.84.6
13+00WHA-16-178126.9137.210.35.4
13+00WHA-16-178150.0163.213.26.9
14+00WHA-16-1652.617.915.28.0
* True width estimated for drill holes with a dip of 50° and a general dip of 85° for the mineralized structure

The drilling campaign is supervised by Jean-Philippe Paiement, M.Sc. P. Geo, at SGS Canada Inc. Forage Rouiller has been chosen to carry out drilling. Samples are being prepared by the SGS Canada Inc. laboratory in Quebec City and shall be analyzed by the SGS Canada Inc. accredited laboratory in Vancouver. A first shipment of samples from Nemaska to Quebec city is expected for July 28 2016.
A QAQC program involving blank samples, standard samples and field duplicates has been implemented during the sampling process. The work is carried out in accordance with CIM’s mining exploration guidelines and best practices.
The technical parts of this press release were prepared by Jean-Philippe Paiement, M.Sc. P. Geo, at SGS Canada Inc., qualified person under Regulation NI 43-101.
About Nemaska Lithium
Nemaska Lithium intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The Corporation is developing in Quebec one of the most important spodumene lithium hard rock deposit in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium’s Whabouchi mine will be shipped to the Corporation’s lithium compounds processing plant to be built in Shawinigan, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and carbonate using the proprietary methods developed by the Corporation, and for which patent applications have been filed.
This document may contain forward-looking statements that reflect management’s current expectations regarding future events. Forward-looking statements are based on a number of factors and include risks and uncertainties. Actual results may differ from forecast results. Management assumes no obligation beyond what is required under the law to update or revise forward-looking statements pursuant to new information or future events.
Further information regarding Nemaska Lithium is available in the SEDAR database (www.sedar.com) and on the Corporation’s website at: www.nemaskalithium.com

Mr. Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.comMs. Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
www.nemaskalithium.com

MARKETS

Markets
TSX19062.91+345.79
TSXV647.33+15.54
DOW31500.68+823.32
S&P 5003911.74+116.01
NASD11607.62+375.43
ASX6528.40+19.90

COMMODITIES

Commodities
Gold1836.12+5.11
Silver21.40+0.26
Copper3.80+0.06
Palladium1890.50+13.50
Platinum917.00+6.00
Oil107.20-0.42
Heating Oil4.22-0.02
Natural Gas6.15-0.07

DOWNLOAD FREE REPORTS

×