Tickers: PINX:DJIFF, XTSX:DJI, XOTC:DJIFF
Tags: #Mining
Vancouver, BC - TheNewswire - November 5, 2019 - Dajin Resources Corp. ("Dajin") (TSXV:DJI) (OTC:DJIFF) (Germany: C2U1) reports that Lithium S Holdings Corporation ("LSC"), a wholly owned subsidiary of Pluspetrol and Dajin have agreed to amend an October 2016 Share Purchase Agreement (the "Agreement"). The revised terms and conditions of the Agreement provides LSC the right to earn a 51% interest in Dajin Resources S.A. ("Dajin S.A.") by making a payment of US$600,000 to Dajin. The prior expenditures made on these properties to earn this 51% interest, total approximately US$1,250,000. Dr. Catherine Hickson also joins the Board of Directors of Dajin S.A. and will be working closely with Litica Resources S.A., a wholly owned mineral exploration subsidiary of Pluspetrol, in the development and execution of an exploration program.
Under the Dajin and LSC joint venture agreement, exploration of the lands originally acquired by Dajin, in Jujuy province, Argentina will proceed. This region is known to contain brines with significant Lithium, Potassium, and Boron values. The concessions exceed 93,000 hectares (230,000 acres) and are primarily located in the Salinas Grandes and Guayatayoc salt lake basins.
During an initial near- surface exploration program, brine samples were taken from a portion of the land holdings covering an area of 550 hectares (1,359 acres) in the northwestern corner of the 4,300 hectares (10,621 acres) San Jose ? Navidad minas. Lithium values from 25 assays ranged from 281 mg/l to 1,353 mg/l, averaging 591 mg/l.
(click here to see geochemical map)
About Pluspetrol: (www.pluspetrol.net)
Pluspetrol is a private, independent, international energy company with over 40 years experience in the exploration and production of oil and gas. Pluspetrol is the largest hydrocarbon producer in Peru. With operations in Angola, Argentina, Bolivia, Colombia, Peru, and offices in United States, Uruguay and the Netherlands, Pluspetrol promotes energy development and fosters activities at an international level. Pluspetrol has created the company Litica Resources S.A. to enter the "battery metals" business.
About Dajin: (www.dajin.ca)
In Nevada, Dajin holds a 100% interest in 403 placer claims covering 7,914 acres (3,202 hectares) in the Teels Marsh valley in Mineral County, Nevada. All permits for drilling have been received and engineered access roads and two large drill pads have been constructed. These claims are known to contain Lithium and Boron values.
Dajin holds a 100% interest in placer claims in the Alkali Spring valley Lithium property in Esmeralda County, Nevada, which is located 7.5 miles (12 kilometers) northeast of the only producing Lithium brine operation in the USA; Albemarle's Silver Peak mine in Clayton Valley. Dajin has terminated their agreement with Cypress Development Corp on the Alkali Spring valley Lithium property.
ON BEHALF OF DAJIN'S BOARD OF DIRECTORS
Brian Findlay
President & CEO
For further information please contact Dajin at:
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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