LETTER FROM THE PRESIDENT
To our Dajin Shareholders and Interested Investors:
In a relatively quiet Lithium market Dajin Resources Corp. (“Dajin”) (TSX-V: DJI) (OTC: DJIFF) (Germany: C2U1) has been working diligently with the management of Litica Resources S.A., the Lithium operating subsidiary of Pluspetrol Resources Corporation B.V., to advance the 2019 exploration program for the Salinas Grandes salar in Jujuy Province, Argentina. In Salta Argentina a meeting with the management of Litica Resources and Dajin is scheduled to be held during the week of June 17, 2019 to discuss a plan to comply with their investment commitment to explore and evaluate the Salinas Grandes and Guayatayoc salars. Dajin’s director Dr. Catherine Hickson, P. Geo, will represent Dajin’s interests at the meeting as well as attend the “Lithium in the South America Region” seminar to be held in Jujuy on June 18th and 19th to introduce Dajin to other participants and investors interested in the Lithium industry.
In March 2019, Pluspetrol Resources acquired the assets of LSC Lithium Corporation for a cash consideration of approximately CDN$111 million. LSC Lithium held an earn-in agreement with Dajin to spend CDN$2 million in exploration expenditures to earn a 51% interest in Dajin Resources S.A.’s. concessions of which approximately $325,000 has been spent. Litica’s exploration team has been organizing an over all plan to get a better understanding of the Salinas Grandes concessions since acquiring LSC Lithium.
Dajin’s S.A.’s land holdings exceed 93,000 hectares in the “LITHIUM TRIANGLE” in Jujuy province in northwestern Argentina. In 2018 Lithium assays results from the phase one near surface exploration program on the 4,300 hectares San Jose -Navidad minas were released. Lithium values received were as high as 1,353 mg/liter with the 25 assays taken averaging over 591 mg/liter (Click here for press release).
In the “LITHIUM HUB” in central Nevada, USA., Dajin is working with the management of Cypress Development Corp. in preparation of a drill program later this year. Exploration plans call for the expenditure of US$200,000 in 2019 and US$250,000 in 2020 for Cypress to earn a 50% interest in the Alkali Spring valley project. This project is located about seven miles from Albemarle’s Silver Peak Mine, the only producing Lithium brine mine in North America.
At Dajin’s 100% owned Teels Marsh valley Lithium brine project in Nevada, Dajin has completed the construction of engineered access roads and built two large drill pads in preparation for a fully permitted four hole, production-size drill program. Dajin has water rights to the Teels Marsh and near surface brines containing lithium. Management is reviewing various options prior to commencing a drill program later this year.
At a recent Minerals Summit held in Washington DC, Simon Moores from Benchmark Minerals reported there are now over 75 Lithium-ion battery giga-factories built or being constructed around the world. Moores stated that we are in the midst of a global battery arms race that is intensifying and the US has been a bystander in building a domestic supply chain capacity. This pent-up demand for the production of Lithium-ion batteries far exceeds the current available supply of Lithium products required for the automobile industry.
Please find listed below four recent interesting Lithium industry articles that you may like to read.
April 30, 2019 – The US Has a Battery Problem in the Race for Electric Car Supremacy
May 2, 2019 – Benchmark Minerals - US Senator Murkowski launches American Mineral Security Act
May 7, 2019 – Lithium Price : Battery Capacity of Electric Cars Doubles from Last Year
June 3, 2019 – Lithium mining superpowers seek riches as battery makers
To view Dajin’s Investors Presentation please click here.
Thanks for your interest and support.
Please call me should you have any questions.
Brian Findlay, President Dajin Resources Corp. 604-681-6151
