Zadar Ventures to Acquire High Grade Lithium Project in Historic Mining Camp
Vancouver, Jan 19th 2018. Zadar Ventures Ltd. (the "Company") is pleased to announce that it has entered into a MOU to acquire the South Hector Lithium project located in Southern California, from MDS Lithium LLC, a private Utah Company specializing in membrane separation technology for the mining industry. The South Hector Lithium project has historic high grade Lithium values ranging from 0.60% to 1.12% (10,000+ ppm) in the known Hectorite clays. South Hector Project Overview:
- The project is situated in the Mojave Desert of Southern California, 35 miles (56 km) southeast of the city of Barstow in San Bernardino County, and Interstate Highway 40 runs through the southern portion of the claim group. The area of interest has seen a long history of mining for bentonite clays dating back to 1931. The sedimentary sequence at the Hector Mine can be seen in outcrop to the north on the Hector Lode Claims. Analyses:
- Two references were found in the literature which provided analyses of the Hector clays. One was Ames, et al (1958) which yielded a Li2O value of 1.14% from the Hector Mine area. The other reference was Foshag and Woodward (1936) which gave Li2O values of 1.12% and 0.60%, also from the Mine area. These analyses are both from the southern area of the claim group. Highlights:
- Proven presence of lithium in Hectorite clays;
- Published reports indicate lithium values greater than 1% +Li2O (10,000 ppm);
- Material is currently being mined on adjacent ground as bentonite/hectorite clays;
- Close to infrastructure (power, transportation and labor);
- Stable political environment;
- Surface grab sample taken during staking and sent to ALS laboratories in Reno for analysis
Under the terms of the agreement Zadar will spend $100,000 USD on confirmation drilling to acquire the option to purchase a 100% interest in the South Hector Lithium project. MDS in turn will license their proprietary membrane separation technology to recover Lithium from Clays for a 3% GOR and a 10% carried interest in the South Hector LithiumProject.
About MDS Lithium LLC.MDS LITHIUM LLC is a private US Corporation with offices in San Diego.. MDS LITHIUM LLC is a recently formed subsidiary of MDS where all of MDS'S Lithium related activity is now focused. MDS has had over 30 years of experience in advanced membrane separation processes for the Mining and Oil &Gas industries with installations in multiple jurisdictions. The MDS systems provide critical process separations that offer clients; process efficiencies, enable environmental compliance, provide higher yields and reduced operating costs. MDS's custom solutions include small to enterprise size systems, that include; design, fabrication, commissioning and where necessary operational management of the systems.
For more information see. http://www.mdsamericas.com/
Zadar Ventures Ltd. is a Resource Company focused on the acquisition and exploration of economically viable green energy resources in jurisdictions favorable to mining and industry. For more information we invite you to visit the company's website at www.zadarventures.com
This news release has been reviewed and approved by Mr. Paul D. Gray, P.Geo., who is the Company's qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Paul D. Gray, P. Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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