Business
Aberdeen Clarifies Disclosure on the Diablillos Acquisition
TORONTO, ONTARIO--(Marketwired - Dec. 31, 2015) - ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX:AAB) At the request of the Investment Industry
About this update from Aberdeen International Inc.
[{"type":"text","content":" TORONTO, ONTARIO--(Marketwired - Dec. 31, 2015) - ABERDEEN INTERNATIONAL INC. (\"Aberdeen\", or the \"Company\") (TSX:AAB) At the request of the Investment Industry Regulatory Organization of Canada (IIROC), Aberdeen would like to clarify and retract certain statements contained in its December 29th, 2015 press release announcing the acquisition of the Diablillos Lithium Project for a total consideration of CDN$5 Million. Disclosure on the Diablillos Preliminary Economic Assessment (PEA) The PEA and technical report referenced in the news release was completed by SRK Consulting and filed on the Rodinia Lithium SEDAR profile at www.sedar.com on December 22, 2011. The PEA is not compliant with current NI 43-101 standards and as such, the disclosed project economic details are considered historical in nature and should not be relied upon. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Aberdeen will be completing an up-to-date technical report done in accordance with current NI 43-101 standards within the prescribed timelines. Disclosure of Production Potential The release disclosed potential production of \"2.8 million tonnes lithium carbonate equivalent and 11.2 million tonnes potassium chloride equivalent\". The Company wishes to clarify that this potential production information is based on the PEA information from the technical report issued on December 22, 2011, and is considered historical in nature and should not be relied upon. Disclosure of Mineral Resources The release disclosed mineral resources of \"2.8 million tonnes lithium carbonate equivalent from an in-situ inferred brine resource of 4.9 million tonnes lithium carbonate equivalent. The project also contains a recoverable inferred brine resource of 11.2 million tonnes potassium chloride equivalent from an in-situ inferred brine resource of 19.83 million tonnes potassium chloride equivalent\". The Company is treating this mineral resource as a historical estimate and as such, it cannot be relied upon. This historical estimate also uses terms such as \"in-situ inferred resource\" and \"recoverable inferred resource\" that are...