CDSG PLANNING EXPLORATION PROGRAM ON TLC ADJACENT LITHIUM PROJECT WITH BARREL ENERGY INC
Las Vegas, NV., Nov. 16, 2022 (GLOBE NEWSWIRE) -- China Dongsheng International Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to provide an update on our exploration program for our West End Lithium (“WEL”) project.
CDSG will partner with Barrel Energy Inc (OTC: BRLL) (“Barrel”) on its exploration and production endeavors with Barrel due to the highly innovative Lithium extraction methodologies Barrel is currently advancing for clay hosted deposits.
The WEL claims are located in Nye county Nevada, just 6 miles northwest of Tonopah and sit directly within the surrounding outer boundary of the TLC Project being developed by American Lithium Corp. (LI.V) (OTCQB: LIACF).
The TLC Project currently hosts a large NI 43-101 compliant resources of 5.37 million tonnes (Mt) lithium carbonate equivalent (LCE) in the measured and indicated category with a further 1.76 Mt LCE in the inferred category. The present size of the TLC resource is expected to grow following the results of new 2022 drilling, some around the WEL claim area.
Lithium demand has caused the price of lithium carbonate, a key component for lithium-ion batteries, to surge throughoutthe past year. In November 2021 prices were roughly $27,000 USD per tonne with lithium carbonate prices fetching over $84,000 USD per tonne.
The company’s co-exploration program will begin in 2023 (subject to federal and state permitting), and timed well to provide a new lithium resource to help meet the ever-growing demand.
See attached map of TLC lithium project. CDSG’s West End Lithium claims are located in red.
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.
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.
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