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VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 6, 2017) – Dajin Resources Corp. (“Dajin”) (TSX VENTURE:DJI)(OTC PINK:DJIFF)(FRANKFURT:C2U1) is pleased to announce that it has signed a non-binding Memorandum of Understanding (MOU) with Enirgi Group Corporation (Enirgi Group), headquartered in Toronto, Canada. Enirgi Group is a multinational conglomerate that has developed a new, efficient, cost effective technology for extracting Lithium carbonates from Lithium bearing brines using their Direct Extraction Process Technology (DXP Technology). With this technology, the use of invasive solar evaporation pond networks will not be required. Through their Innovation Division, based in Sydney, Australia, Enirgi Group is in the final stages of commissioning a commercial scale demonstration plant capable of producing one tonne per day of battery grade Lithium carbonate from their flagship lithium project at the Salar del Rincón located in the Province of Salta, Argentina (the “Rincón Project”). The MOU gives Dajin exclusive access to the Enirgi Group’s DXP Technology and future processing facilities constructed in the United States. Dajin will be responsible for the sourcing and delivering of lithium bearing brine from their current and future projects in the United States.
Upon the production of 20 tonnes cumulative battery grade lithium carbonate at the Rincón Project, signing a Definitive Agreement, consideration of provision to Dajin of Enirgi Group services, and having exclusive access to processing facilities, Dajin will issue to Enirgi Group common shares of its capital in an amount which represents 19.5% of the issued shares of Dajin (post-issuance), calculated based on the number of shares issued of Dajin outstanding as of the date of acceptance of a Definitive Agreement by the TSX Venture Exchange.
Upon the completion of a Definitive Feasibility Study (DFS) for the construction of a processing facility and acceptance by the TSX Venture Exchange, Dajin will issue to Enirgi Group additional common shares of its capital in an amount which represent 10.5% of the issued shares of Dajin (post-issuance), calculated based on the number of issued shares of Dajin outstanding as of the date of the completion of the DFS.
LSC Lithium Corp. (“LSC”), a lithium exploration company in Argentina, entered into an earn-in agreement with Dajin in 2016 for the development of Dajin’s extensive Lithium exploration land holdings in Jujuy Province, Argentina. This agreement also provides access to the Enirgi Group processing facilities in Argentina.
Enirgi Group’s CEO Wayne Richardson commented, “We are pleased to have this association with Dajin who understand and appreciate the significance of a cost effective and demonstrable commercial process that minimizes water consumption for the production of battery grade Lithium carbonate. We have been working for several years and have spent over $200 million dollars on developing the Rincón Project and our DXP Technology. We believe our process will have a major impact on the processing of Lithium brines in the future worldwide.”
Dajin’s President Brian Findlay remarked, “This relationship will provide Dajin exclusive access to Enirgi Group’s DXP Technology which is going through the certification process at their Rincón Project located in Argentina’s part of the “lithium triangle.” After extensive review of other known Lithium brine processing technologies, Dajin’s management has determined the DXP Technology to be the most advanced on the market today.”
Dajin holds two key exploration projects in Nevada: the Teels Marsh valley and Alkali Lake valley. The Teels Marsh Lithium brine project has identified near-surface Lithium-bearing brines, water rights have been acquired, and there is minimal land fragmentation. A recent seismic survey confirmed the closed basin beneath the playa is up to 8,200 feet (2,500 metres) deep. 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 at Teels Marsh. A National Instrument 43-101 report on the Teels Marsh project was released in April.
About Enirgi Group: (www.enirgi.com)
Enirgi Group is a privately held multinational conglomerate with six unique divisions that own and operate a portfolio of high-quality assets and operations located around the world. Enirgi Group’s newly formed Advanced Materials Division is developing its Rincón Project located in the province of Salta, Argentina. Enirgi Group is focused on the development of innovative technologies to sustainably progress numerous projects around the globe with the goal of becoming a leading low-cost, high quality producer of specialty chemicals and energy storage solutions.
Enirgi Group is wholly-owned by Sentient Group. The Sentient Group Limited is an independent private equity investment firm specializing in the global resources industry with over $2.7 billion of assets under management in metal, mineral and energy assets across the globe.
About Dajin: (www.dajin.ca)
Dajin 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% 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. (“Dajin 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 $2,000,000 to earn a 51% interest in Dajin S.A.’s Lithium properties while building a significant presence in Argentina. (click here for information on LSC Lithium Corporation)
ON BEHALF OF DAJIN’S BOARD OF DIRECTORS
President & CEO
ON BEHALF OF ENIRGI GROUP’S BOARD OF DIRECTORS
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Dajin Resources Corp.
Head of Corporate Development
Enirgi Group Corporation
VP Corporate Communications
Thu, 07 Sep 2017 13:00:00 GMT