HIGH GRADE LITHIUM RESULT ACHIEVED DESPITE
RECENT PRECIPITATION
VANCOUVER, BC, Sept. 1,
2022 /CNW/ - Monumental Minerals Corp.
("Monumental" or the "Company") (TSX-V: MNRL) (FSE:
BE5) (OTCQB: MNMRF) is pleased to announce the results of a
follow-up shallow brine sampling program at the Laguna Blanca
lithium (Li) brine and cesium (Cs) sediment project (the
"Project"), located within the Lithium Triangle, northern
Chile.
The Laguna Blanca Project lies within the eastern Andean
Geomorphic Belt of Chile's Central
Andean Altiplano and is located 120 km from the Salar de Atacama,
the largest lithium producing salar in the world. The felsic
volcanic rocks of the Central Andean Altiplano are enriched in Li
and Cs.
Monumental contracted Atacama Water SpA ("AW") to undertake
a surface brine sampling campaign at the Company's Laguna Blanca
Project between June 28 and July 6
(Photo 1). Sediment samples were also collected, results from which
are pending. The objective of the program was to confirm results of
previous sampling campaigns carried out by Lithium Chile Inc.
Seven shallow auger holes were completed by Monumental at sites
proximal to the Laguna Blanca brine pool, where the groundwater
table was deemed close enough to surface to obtain a brine sample.
One brine sample was also collected from the surface. Analysis of
the 4 sample locations that contained brine (three auger holes and
the surface sample) returned lithium values to 405 milligrams per
litre (mg/l), with mean and median values of 306 mg/l and 297 mg/l,
respectively (Figure 1). These lithium values are consistent with
shallow auger samples previously collected by Lithium Chile in
2019. The favorable lithium results, plus highly conductive TEM
geophysical features deeper in the subsurface (see Monumental
Minerals press release dated June 29,
2022), justify a deeper exploration drilling program.
Significantly, the ratios of lithium to magnesium ("Mg") within
the Laguna Blanca brine samples range from 2.5 to 1.8 and are
considerably higher than other known projects in Lithium Triangle
(Figure 2). Besides Li grades, higher ratios of Li:Mg ratios are
more favorable for brine-type developments of LCE, as the
geochemical behavior of Mg ions can interfere with the Li
purification process. Thus, low magnesium brines are considered
more desirable. While the Laguna Blanca Salar samples were
collected from near surface brines and may not be directly
comparable to deeper subsurface brine chemistry or advanced
projects or producing mines, the results are nonetheless
encouraging.
Dr. Jamil Sader, CEO and Director
of Monumental, comments:
"The brine results from Laguna Blanca are
extremely encouraging. Although the samples were collected during
the wet time of the year, and only 2 weeks after a major snow
event, lithium concentrations are consistent with previous values
determined by Lithium Chile in 2019. We are optimistic that our
future drilling results will demonstrate lithium brine
concentrations that significantly exceed these surface values.
Additionally, we are excited about the low magnesium
concentrations, as high values can be deleterious for
processing."
Methodology and QA/QC
A total of 7 sample collection holes were drilled using a
gasoline-powered auger to approximately 1.6
m depth. The holes were temporarily completed with
2 m length, 2-inch diameter PVC blank
and screened casing. Sampling was conducted 48 hours after
installation to let water levels equilibrate. Of the 7 auger holes,
4 did not reach the water table, thus a brine sample could not be
obtained. One brine sample was collected from surface. Brine
samples were taken by AW personnel using dedicated plastic bailers
and collected in new, rinsed, one-litre plastic bottles. The
bottles were sealed and labelled with the sampling site, date, and
time. All samples were stored in coolers. Field parameters (pH,
electrical conductivity, temperature, and density) were measured at
each sample site. QA/QC protocols included the collection field
duplicates and insertion of blank samples into the sample sequence.
Following the completion of auger sampling casings were removed,
and holes were back-filled to conform with the Company ESG policy
on minimizing environmental impacts.
Brine samples were submitted to the laboratory of the University
of Antofagasta for chemical
analysis. The University of Antofagasta laboratory is independent of
Monumental Minerals and the QP. The laboratory of the University of
Antofagasta is not ISO certified,
but it is specialized in the chemical analysis of brines and
inorganic salts, and their laboratory quality control and
analytical procedures are of high quality and are appropriate with
respect to the sample media. The analytical methods used were
inductively coupled plasma optical emission spectroscopy for
cations, ion selective electrodes for anions, and titration for
carbonate and bicarbonate determinations.
Qualified Person
The scientific and technical information contained in this news
release has been reviewed and approved by Kristopher J.
Raffle, P.Geo. (BC) Principal and Consultant of APEX
Geoscience Ltd. of Edmonton, AB, a
Director of the Company and a "Qualified Person" as defined in
National Instrument 43-101 – Standards of
Disclosure for Mineral Projects. Mr. Raffle
verified the data disclosed which includes a review of the
sampling, analytical and test data underlying the information and
opinions contained therein. Monumental cautions that past results
or discoveries on proximate land are not necessarily indicative of
the results that may be achieved on the Laguna Blanca Project.
About Monumental Minerals
Corp.
Monumental Minerals Corp. is a mineral exploration company
focused on the acquisition, exploration, and development of mineral
resource properties in the critical and electric metals sector. The
Company's flagship asset is the Jemi HREE project located in
Coahuila, Mexico near the
Texas, USA border which the
Company has an option to acquire 100% of the 3,650-hectare
project. The Company has an option to acquire a 75% interest
and title to the Laguna Blanca project located in Chile.
On behalf of the Board of
Directors,
/s/ "Jamil Sader"
Jamil
Sader, Chief Executive Officer and Director
Contact Information:
Email: jsader@monumentalminerals.com
Or
Email: msali@monumentalminerals.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
References
Steinmetz, R.L.L., Salvi, S., Sarchi, C.,
Santamans, C. and Steinmetz, L.C.L., 2020. Lithium and brine
geochemistry in the salars of the Southern Puna, Andean plateau of
Argentina. Economic Geology,
115(5), pp.1079-1096.
Forward Looking
Information
This news release contains "forward–looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, the potential plans for the
Company's projects, the timing, completion and expected outcomes of
the next phase of exploration work on the Laguna Project, other
statements relating to the technical, financial and business
prospects of the Company, its projects and other matters. All
statements in this news release, other than statements of
historical facts, that address events or developments that the
Company expects to occur, are forward-looking statements. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Such statements are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of metals, the ability to achieve its goals,
that general business and economic conditions will not change in a
material adverse manner and that financing will be available if and
when needed and on reasonable terms. Such forward-looking
information reflects the Company's views with respect to future
events and is subject to risks, uncertainties and assumptions,
including the risks and uncertainties relating to the
interpretation of exploration results, risks related to the
inherent uncertainty of exploration and cost estimates and the
potential for unexpected costs and expenses and those other risks
filed under the Company's profile on SEDAR at www.sedar.com. While
such estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory
uncertainties and risks. Factors that could cause actual results to
differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and
financing and general economic, market or business conditions,
failure to secure personnel and equipment for work programs,
adverse weather and climate conditions, risks relating to
unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications
or expectations, cost escalation, unavailability of materials and
equipment, government action or delays in the receipt of government
approvals, industrial disturbances or other job action, and
unanticipated events related to health, safety and environmental
matters), risks relating to inaccurate geological assumptions,
failure to maintain all necessary government permits, approvals and
authorizations, failure to obtain surface access agreements or
understandings from local communities, land owners or Indigenous
groups, fluctuation in exchange rates, the impact of Covid-19 or
other viruses and diseases on the Company's ability to operate, an
inability to predict and counteract the effects of COVID-19 on the
business of the Company, including but not limited to, the effects
of COVID-19 on the price of commodities, capital market conditions,
restriction on labour and international travel and supply chains,
decrease in the price of rare earth elements, lithium, cesium and
other metals, loss of key employees, consultants, or directors,
failure to maintain community acceptance (including from the
Indigenous communities), increase in costs, litigation, and failure
of counterparties to perform their contractual obligations. The
Company does not undertake to update forward–looking statements or
forward–looking information, except as required by law.
SOURCE Monumental Minerals Corp.