SYS-CON MEDIA Authors: Liz McMillan, Roberto Medrano, Sean Houghton, Glenn Rossman, Ignacio M. Llorente

News Feed Item

Nemaska Increases Mineral Resource at Whabouchi

Improves Grade and tonnage

QUEBEC CITY, QUEBEC -- (Marketwired) -- 01/28/14 -- Nemaska Lithium Inc. ("Nemaska" or the"Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF)(FRANKFURT:N0T) is pleased to announce that, following the completion of the September 2013 diamond drilling campaign, (see press release of November 13, 2013), an updated Mineral Resource estimate has been completed by Jean-Philippe Paiement, M.Sc. P.Geo., of SGS Canada Inc. - Geostat ("SGS Geostat"). The Mineral Resource was estimated and limited inside an optimized pit shell. The resources were interpolated using Genesis© and the block model was submitted to Met-Chem Inc. to run pit optimization using Mine Sight©. The interpolated blocks of the block model located below the optimised pit shell are not included in the updated Mineral Resources. The company is currently preparing a National Instrument 43-101 compliant Feasibility Study on the Whabouchi project, which will include the updated Mineral Resource estimate. Currently there is a National Instrument 43-101 compliant Preliminary Economic Assessment report on the Whabouchi project that incorporates the past Mineral Resource estimate prepared by Andre Laferriere, M.Sc. P.Geo., of SGS Canada Inc. - Geostat ("SGS Geostat") with an effective date of June 6, 2011.

The following table shows the difference between the 2011 and the 2014 resource estimate:


----------------------------------------------------------------------------
     2014 vs 2011 Mineral Resource Estimate (In-pit) - Whabouchi Project    
----------------------------------------------------------------------------
                                   2014                   2011              
                        2014       Li2O        2011       Li2O   Increase in
Resources            Tonnage      Grade     Tonnage      Grade       tonnage
 Categories          (Mt)(i)        (%)     (Mt)(i)        (%)          (Mt)
----------------------------------------------------------------------------
                                                                            
Measured              12.998       1.60      11.294       1.58         1.704
----------------------------------------------------------------------------
                                                                            
Indicated             14.993       1.54      13.785       1.50         1.208
----------------------------------------------------------------------------
Measured +                                                                  
 Indicated            27.991       1.57      25.079       1.54         2.912
----------------------------------------------------------------------------
                                                                            
Inferred               4.686       1.51       4.401       1.50         0.285
----------------------------------------------------------------------------
(i)Note: The mineral resource estimate has been calculated using the        
Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definitions    
Standards for mineral resources in concordance with National Instrument 43- 
101 - Standards of Disclosure for Mineral Projects. Mineral resources which 
are not mineral reserves do not have demonstrated economic viability.       
Inferred mineral resources are exclusive of the Measured and Indicated      
resources.                                                                  
                                                                            
Bulk density of 2.70 t/m3 is used. Effective date January 22, 2014. (i)     
Rounded to the nearest thousand.                                            

"In any mining project, regardless of the commodity or location, grade is king, commented Guy Bourassa, President and CEO of Nemaska Lithium. "Whabouchi is an exceptionally high grade lithium deposit unlike any other in North America and we are very pleased with the updated Mineral Resource estimate, as it shows an increase in both tonnage and grade of the measured and indicated resources," commented Guy Bourassa, President and CEO of Nemaska. The homogeneity of the grade within the optimized pit shell is clearly shown in the attached grade curve analysis. "Equally important is the fact that the deposit remains open at depth and that the blocks of the resources model located below the optimised pit shell are not included in the Mineral Resources as it can be seen on the attached longitudinal view. This update of the Resource estimate is a positive step in finalizing the Feasibility Study on the Whabouchi project. We have a potential of 25+ years of resources to be mined. We are planning to release the Feasibility Study during this quarter which will include this updated Mineral Resource estimate. We expect that these resources numbers will positively impact the economics of the project."

The mineral resources were estimated based on the following geological and resources block modeling parameters(i):


--  Mineral resources were evaluated from the diamond drill holes and
    channels analytical results completed by Nemaska since 2009. Historical
    drill holes and channels were not used for the current mineral resources
    estimates. A total of 479 drill holes/channels and 9,358 assays were
    used for the mineral resources model. 
    
--  The mineral resources 3-D modeling of mineralized pegmatite dyke was
    conducted using a minimal modeling grade of 0.50% Li2O over a 2m
    horizontal thickness. 
    
--  Block Model Interpolation was done using Ordinary Kriging. The block
    model was defined by block size of 5m long by 3m wide by 5m thick and
    covers a strike length of 1,315m to a maximal depth of 520m below
    surface. The final mineral resources which are located inside the
    optimised pit reach 320m below surface (maximum depth of optimised pit).
    
--  The interpolation was conducted using composited assays of 2m in length.
    The Mineral Resources were modeled and estimated using Genesis©
    software. 
    
--  The cut-off grade of the reported Mineral Resources is 0.43% Li2O. 
    

(i)Based on the Memorandum received from SGS Geostat, dated January 22, 2014.

The technical information in this press release has been reviewed by Jean-Philippe Paiement, M. Sc. P. Geo., Qualified Person as defined in National Instrument 43-101.

About Nemaska

Nemaska intends to become a lithium hydroxide/carbonate producer based in Quebec and has filed patent applications for its proprietary methods to produce lithium hydroxide and lithium carbonate. In tandem, the Corporation is developing one of the richest spodumene lithium hard rock deposit in the world, both in volume and grade. Spodumene concentrate produced at Nemaska's Whabouchi mine and from other global sources will be shipped to the Corporation's lithium hydroxide/carbonate processing plant to be built in Salaberry-de-Valleyfield, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and lithium carbonate mainly for the growing lithium battery market.

Neither 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 release.

The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties. Actual results could differ from those currently projected. The Corporation does not assume the obligation to update any forward-looking statement.

Contacts:
Guy Bourassa
President
418 704-6038
[email protected]

Wanda Cutler
Investor Relations
416 303-6460
[email protected]

Victor Cantore
Investor Relations
514 831-3809
[email protected]
www.nemaskalithium.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
If cloud computing benefits are so clear, why have so few enterprises migrated their mission-critical apps? The answer is often inertia and FUD. No one ever got fired for not moving to the cloud - not yet. In his session at 15th Cloud Expo, Michael Hoch, SVP, Cloud Advisory Service at Virtustream, discussed the six key steps to justify and execute your MCA cloud migration.
Eighty-five percent of companies store information in some sort of unstructured manner. In this demo at 15th Cloud Expo, Mark Fronczak, Product Manager at Solgenia, discussed their enterprise content management solution, which was created to help companies organize and take control of their digital assets.
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to th...
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrateg...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
Cloud has become an extension of today’s enterprise and the traditional perimeter has long disappeared. Increasing business requirements for agility and flexibility make the cloud-extended enterprise ideal for a workforce that works anywhere, anytime and any place. This is especially true as organizations are increasingly made up of third-party resources, partners and suppliers compared to just employees. However, traditional security models are not equipped to deal with the fluid nature of da...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo – to be held June 9-11, 2015, at the Javits Center in New York City, NY – is now accepting Hackathon proposals. Hackathon sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem. At Cloud Expo 2014 Silicon Valley, IBM held the Bluemix Developer Playground on November 5 and ElasticBox held the DevOps Hackathon on November 6. Both events took place on the expo fl...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...