Las Vegas, NV, Dec. 14, 2022 (GLOBE NEWSWIRE) -- China Dongsheng International Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to provide an update on our West End Lithium (“WEL”) project located just 6 miles northwest of Tonopah, Nevada.
The WEL project claims are located within, and is surrounded by, the outer boundary of the TLC Project being developed by American Lithium Corp. (“American Lithium”) (LI.V) (OTCQB: LIACF). American Lithium has done exceptional work throughout 2022 and has recently released a new NI 43-101 compliant resource for the TLC Project.
Dated November 29, 2022, the combined Measured and Indicated portions of the TLC mineral resource grew from previous calculations of 5.37 Mt to now 8.83 Mt LCE mainly from work conducted in a north and northwest direction from their previous drilling. The image (after American Lithium’s news release) shows the boundary of the measured, indicated and inferred resource which now partly engulfs and surrounds the WEL claim boundary.
Figure 1. TLC Resource boundary vs WEL Claim location
In its entirety, the TLC resource is now reported to contain 4.2 Million tonnes (Mt) lithium carbonate equivalent (LCE) measured, 4.63 Mt LCE indicated and 1.86 Mt LCE inferred. The Lithium mineralization is hosted in shallow claystones which the US Geologic survey has identified as underlying both the TLC and WEL claims.
The updated 8.83 Mt LCE measured and indicated resource now stands well above Nevada’s multi-billion-dollar Thacker Pass Lithium project of Lithium Americas (NYSE: LAC) which holds 3.13 Mt of Proven and Probable LCE reserves.
The WEL claim area possess excellent access via gravel roads and the proximity to Tonapah offers access to skilled labor, water and electricity. Our Phase One program, which now includes planned drilling, should serve to compliment the growing resource of the TLC area. The Company is looking forward to working with Barrel Energy (OTC: BRLL) on this project.
Figure 2. Location of WEL claims near Tonopah, NV.
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG) is an emerging company based in Nevada. The company's principal activity is acquiring and developing opportunities in the natural resource sector and complimentary technologies.
For further information please visit www.cdsgholdings.co. or (702) 595-2247
Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.
