VANCOUVER, BRITISH COLUMBIA —
Dajin Resources Corp. on Thursday announce that it has signed a memorandum of understanding (MOU) with
Geothermal Development Associates (GDA), of Sparks.
GDA is a geothermal development corporation with geothermal leases in the Teels Marsh valley in Mineral County, Nevada, that overlie Dajin's placer claims. GDA's principle line of business is the development of geothermal resources for electrical generation.
As a result of this MOU, GDA and Dajin will share exploration data with the ultimate aim of supporting the development of a lithium brine extraction facility as well as developing a geothermal plant for electrical generation and the production of direct-use thermal water. This agreement outlines a non-competitive relationship where both companies are focusing on their key strengths, while working together on their exploration program during development.
Dajin's President Brian Findlay remarked, "This relationship will provide Dajin preferential access to green renewable electrical power and thermal energy to power a potential future lithium brine operation without competition over surface and water rights."
GDA's President Martin Booth said, "We are pleased with this association with Dajin who understands and appreciates the significance of geothermal resources and how collaboration can help both companies move forward on their respective developments."
Key attractions of Dajin's Teels Marsh valley lithium brine project include identified near-surface Lithium-bearing brines, been granted water rights and has minimal land fragmentation. The basin beneath the playa is up to 8,200 feet (2,500 metres) deep. Prior geothermal exploration results indicate favourable geochemistry and shallow sub-surface temperatures of up to 206°F (97°C) at 131 feet (40 meters) depth at the northwest end of the valley. In March, the Bureau of Land Management accepted Dajin's Notice to proceed with civil works and drilling as part of its exploration for Lithium brines. A National Instrument 43-101 report was released in April. (a copy can be obtained by
clicking here)
The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements of National Instrument 43-101 and has been reviewed and approved on behalf of Dajin Resources Corp. by Dajin Directors, Dr. Catherine Hickson, P. Geo and Dr. Mark Coolbaugh, CPG, the Qualified Persons.
Dajin Resources Corp. (TSX VENTURE:DJI)(OTC PINK:DJIFF)(XETRA:C2U1) is an early stage lithium exploration company holding a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley of Mineral County, Nevada. These claims are known to contain Lithium and Boron values and are adjacent to the birth place of US Borax Corp's first borax mine. Dajin also holds a 100 percnt interest in 191 placer claims covering 3,851 acres (1,558 hectares) in the Alkali Lake valley of Esmeralda County, Nevada, located 7 miles (11 kilometers) northeast of Albemarle's Silver Peak Lithium brine operation in Clayton Valley.
Dajin, through 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/Guayatayoc salt lakes basin. Dajin S.A. is partnered with LSC Lithium Corporation who has agreed to spend $2 million to earn a 51 percent interest in Dajin S.A.'s lithium properties while building a significant presence in Argentina.
